Medical simulator is related to the training and education in medical field. Medical simulator help doctors, students, nurses, medical persons, and rescue teams in developing the necessary techniques and skills before they start working with real patients. A medical simulator is used in all aspects of medical education such as laparoscopic and surgical training, gynecological and obstetric training, anesthesiology training, patient care training, and others. This technique helps in closing the gap between the work and the theory. Medical simulator also help in training students with predesigned clinical encounters rather than random cases.
Global medical simulator market is valued at USD 1.4 billion in 2018 and will register CAGR of 17% during the forecast period to reach over USD 3.8 billion by 2024. The industry is driven by variety of factors including better patient treatment scenario to increasing focus on patient safety & outcomes. Also, medical simulation helps healthcare personnel to effectively understand the patient aspirations. While sales of medical simulator is on higher note, high installation cost coupled with lower technological knowledge among handlers is a major challenge for companies. The industry is highly untapped and there exists huge market opportunity for suppliers especially in populous regions of South Asia and Latin America. Proper implementation of medical simulator can significantly lower the mortality rate arising due to medical error.
Key Players
Prominent players in the segment are CAE Inc, Gaumard Scientific Company, Mentice AB, Simulab Corporation, 3D Systems Corporation, Laerdal Medical AS, Limbs and Things LTD., Gaumard Scientific Company, Simulaids INC., MSC, 3-Dmed, HRV, Medical Simulation Technologies sp., Surgical Science Sweden AB, MEDICAL-X, Medaphor, Canadian Aviation Electronics, Ltd., and Remedy Simulation Group. These companies are focusing on enhancing their business outreach with long term partnership with end-use clients. Strong sales network coupled with technologically advanced product has been the key success factor for these companies. In future, competition is expected to increase with possible mergers and acquisitions likely to become centric to company’s main growth strategy.
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Segmentation
The medical simulator market has been segmented based on the services, among which the ultrasound simulator segment is growing at the fastest pace during the forecast period. The ultrasound simulator produces virtual ultrasound images, which are used by students during clinical learning. This method produces simulated ultrasound images by using information obtained from three dimensional CT data sets, due to the advantage of visual similarities between ultrasound and CT images.
Based on fidelity, high-fidelity simulators are expected to hold a significant market share owing to their ability to simulate realistic clinical settings and situations. High-fidelity simulators are commonly used as educational tools, mainly in anaesthesia.
Based on the end-user, medical simulator market is segmented into hospitals, clinics, military centers, academic and research centers. Hospital segment registered fastest growth during the forecast period. There are large number of hospital chains worldwide. Higher patient penetration and funding has boosted the demand for medical simulation. Also, many surgical procedures are conducted in hospital requiring medical simulation. This has led to better business scenario.
Regional Analysis
Regionally, North America dominated the market in 2018 owing to an increase in the number of medical training hospitals and institutes in the region. Further, increasing number of geriatric population and the rising demand for proper treatment and patient safety are some of the factors that are driving the medical simulator market in the region.
Asia Pacific is growing at the fastest pace owing to the soaring demand for healthcare-related services in the region, which further accelerates the growth of the medical simulator market. China is leading the Asia-Pacific market, as the country is the home for producing low simulator models, components and parts, anatomical models, and software.
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Table of Contents
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Medical Simulator Market, by Service Type
Chapter 5 Global Medical Simulator Market, by Fidelity
Chapter 6 Global Medical Simulator Market, by End-use
Chapter 7 Global Medical Simulator Market, by Region
Chapter 8 Competitive Intelligence
Chapter 9 Company Profiles
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