Global Healthcare/Medical Simulation Market is projected to reach USD 2,490.4 Million by 2022 from USD 1,244.0 Million in 2017, at a CAGR of 14.9%, the Global Medical Simulation Market is increasing at a rapid pace. Medical simulation deals with the training of healthcare professionals using advanced experiential learning technologies. It can be used for training where real-life patient care can’t be engaged.
The factors that drive growth for the Medical simulation market include the rise in the focus for patient safety, technological innovations being brought out in the field and the increase in the demand for minimally invasive treatments. The high cost of medical simulation devices is a major challenge for this industry. Another challenge for this industry is the slowdown experienced in the economies worldwide.
The market also throws up several opportunities with regard to the increasing technological innovation happening at a very rapid pace.
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The market is segmented in terms of the type of products and services and end users.
In terms of the type of products and services, the market is classified into Imaging simulation, Simulation education, Software, Human Patient Simulators, Interventional simulation, Ancillary products, Simulated Clinical Environments and Medical simulation anatomical models.
In terms of end users, the market is divided into institutional and others. The institutional segment can be further subdivided into military, educational institutions, medical schools, and hospitals.The different geographic market segments are North America, Europe, Asia Pacific and Rest of the world.
North America is the dominating market in terms of market share due to the presence of several large firms that operate in this industry that was formed through acquisitions over the years. North America is followed by Europe in terms of market share. But in terms of future growth, Asia Pacific is the expected to be the leader because of the developing infrastructure and the increasing medical schools and hospitals.
Some of the major players in the market include Laerdal Medical AS, CAE, Inc., Limbs and Things, Ltd Simulab Corporation, Simulaids, Inc., 3D Systems, Inc., Kyoto Kagaku Co., Ltd, Mentice AB, Surgical Science Sweden AB, and Gaumard Scientific Company, Inc.
Laerdal Medical (Norway) held the leading position in the global healthcare/medical simulation market in 2016. Over the past three years, the company has been focusing on expanding its product portfolio in various simulation subsegments by launching innovative products in order to lure customers and gain more market share. This is evident from its recent product launches of Nursing Anne Simulator and Little Anne QCPR. The company maintains strong partnerships with leading healthcare research institutes such as American Heart Association (US), American Academy of Pediatrics (US), British Heart Foundation (UK), National League for Nursing (US), and Stavanger Acute Medicine Foundation for Education & Research (Norway) on large-scale projects pertaining to innovative simulation technology development. Innovative products and the company’s brand value helps the company maintain its leading position in the market.
The report contains comprehensive analysis on:
Global Medical Simulation Market Segments
Global Medical Simulation Market Drivers, Restraints and Opportunities
Global Medical Simulation Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Medical Simulation Market Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Global Medical Simulation Market includes
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage
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