Healthcare Simulation Market Report
Healthcare Simulation Market is Segmented by Product Type (Patient Simulator [Low Fidelity, Medium Fidelity, and High Fidelity], Surgical Simulator [Technology-Based, Web-Based, and Computer-Based], and Ultrasound Simulator [Technology-Based, Web-Based, and Computer-Based]), by End-Use Type (Academic & Research Institute, Hospitals, and Ambulances), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Healthcare Simulation Market is Segmented by Product Type (Patient Simulator [Low Fidelity, Medium Fidelity, and High Fidelity], Surgical Simulator [Technology-Based, Web-Based, and Computer-Based], and Ultrasound Simulator [Technology-Based, Web-Based, and Computer-Based]), by End-Use Type ...
Impact of COVID-19 on Healthcare Simulation Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Healthcare simulation is a modern way to train healthcare professionals through the use of cutting-edge educational technology. It's an artificial model that encompasses different man-made models to attain educational objectives through hands-on learning. The propelling factors for the market growth of healthcare simulation include continuous technological advancements, increasing concerns over patient safety, and increasing demand for minimally invasive treatments.
Over the last few years, healthcare simulation has become an established pre-requisite for minimally invasive surgeries (MIS). For a variety of surgical procedures, minimally invasive approaches are rapidly becoming the gold standard. Smaller incisions are used in these MIS treatments, resulting in a faster recovery time, which aids the overall market growth. Medical simulation systems, as well as standardized patient simulators, have seen fast expansions in recent years, owing to the increased technological advancements and their acceptance in the healthcare industry. Lack of capital, less time for simulation exercises, and a lack of management interest have been the major impediments for hospitals or healthcare institutions in implementing simulation products and services. There was a positive influence on the overall healthcare industry due to the COVID-pandemic and such was the effect on the healthcare simulation market as well. Therefore, the global healthcare simulation market was valued at $1,440.2 million in 2020 and is projected to reach $2,925.3 million by 2026, registering a CAGR of 12% from 2021-2026.
Based on the product type, the healthcare simulation market has been segmented as patient simulators, surgical simulators, and ultrasound simulators. Patient simulators are further segmented as high fidelity, medium-fidelity, and low fidelity patient simulators. Patient simulators occupied the major market share of the healthcare simulation market, followed by surgical simulators and ultrasound simulators. Both, surgical and ultrasound simulators are further segmented into technology-based, web-based, and computer-based simulators. Among these additional classifications of simulators, the technology-based surgical and ultrasound simulators accounted for the dominant market shares.
Similarly, based on the end-user types, the healthcare simulation market is segmented by hospitals, academic & research institutes, and ambulances. Among these segments, the academic & research institute segment contributes to the major market share, followed by hospitals and ambulances.
In terms of regions, North America is expected to remain the largest market for healthcare simulation, during the forecast period. This region has the presence of a large number of major players such as CAE Inc., Laerdal Medical, Gaumard Scientific Company, and Nasco HealthCare, making the region the growth engine of the global healthcare simulation market. Most of the healthcare simulation providers have their presence in the region to address the requirements of the academic & research institutes and hospitals.
Europe and Asia-Pacific are also likely to create sizeable opportunities in the coming five years, driven by an expected rebound in healthcare simulator demand coupled with a paradigm shift from medical mannequins to high-fidelity simulators.
The following are the key players in the healthcare simulation market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s healthcare simulation market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The healthcare simulation market is segmented into the following categories:
Healthcare Simulation Market, by Product Type
Healthcare Simulation Market, by End-Use
Healthcare Simulation Market, by Region
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The healthcare simulation market is estimated to grow at a CAGR of 12%, during 2021-2026.
Laerdal Medical, Nasco Healthcare, CAE Inc., 3B Scientific, Gaumard Scientific Company Inc., 3D Systems, Intelligent Ultrasound, Limbs & Things, Mentice, and Surgical Science are some of the leading players in the healthcare simulation market.
North America is estimated to remain dominant in the healthcare simulation market in the upcoming years.