Global Patient Simulators Market, By Product (Adult Patient Simulator, Infant Simulator, Childbirth Simulator), End User (Hospitals, Military Organizations, Academic Institutes, Others) – Industry Trends and Forecast to 2029.
Patient Simulators Market Analysis and Size
The market for patient simulators is anticipated to grow during the forecast period. Due to the high cost of medical devices and the in-effectiveness of creating treatments for chronic diseases, there is a rising demand for patient simulation training and education among healthcare workers.
Data Bridge Market Research analyses that the patient simulators market which was USD 1.69 billion in 2021, would rocket up to USD 3.73 billion by 2029, and is expected to undergo a CAGR of 10.40% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Patient Simulators Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Adult Patient Simulator, Infant Simulator, Childbirth Simulator), End Use (Hospitals, Military Organizations, Academic Institutes, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Materialise (Belgium), Startasys (Israel), CAE Inc. (Canada), Surgical Science (Sweden), Mentice (Sweden), Gaumard Scientific (U.S.), Simulab Corporation (U.S.), VirtaMed AG (Switzerland), 3-Dmed Learning Through Simulation (U.S.), Laerdal Medical (Norway), 3D Systems, Inc. (U.S.), Osteo3d (U.S.), Axial3D (U.K.), Formlabs (U.S.)
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Market Opportunities
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Market Definition
A patient simulator is a training tool that allows students, trainees, and professionals to practice clinical procedures on actual patients without exposing them to any risks. Patient simulator systems are lifelike dummies that can react physiologically much as living things would. They are created with PC programming that enables them to represent both common and unusual body reactions to events, such as an attack of asthma and therapeutic interventions like pharmaceutical side effects.
Patient Simulators Market Dynamics
Drivers
- Increasing demand for minimally invasive surgeries
The market is expected to grow during the forecast period due to the growing demand for minimally invasive surgeries. Minimally invasive surgeries are less risky and cause less pain and trauma as compared to traditional open surgery procedures. This has led to a rise in their adoption, thereby driving the growth of the patient simulators market.
- Increasing geriatric population
The global geriatric population is rising at a rapid pace and is expected to reach 2 billion by 2050. This will lead to a surge in the number of elderly patients who require surgery, thereby driving the growth of the patient simulators market.
- Rising prevalence of chronic diseases
The prevalence of chronic diseases such as cancer, heart disease, and diabetes is increasing globally due to changing lifestyles and dietary habits. This has led to an upsurge in demand for surgical procedures, which in turn is fueling the growth of the patient simulators market.
Opportunities
- Rising desire for less invasive treatments
The patient simulators market's growth is fuelled by expanding patient simulator awareness and rising desire for less invasive treatments, as well as by technology developments and rising government and corporate investment. This will provide beneficial opportunities for the patient simulators market growth.
Moreover, increase in the number of emerging markets and new product launches will further provide beneficial opportunities for the patient simulators market growth during the forecast period.
Restraints/Challenges
- High cost
Simulators, particularly those with great fidelity, are very expensive in terms of initial purchase price and ongoing maintenance expenditures. As a result, many academic and research institutions as well as teaching hospitals cannot afford them. The market's expansion is predicted to be constrained by this.
This patient simulators market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the patient simulators market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Patient Simulators Market Scope
The patient simulators market is segmented on the basis of product and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Adult Patient Simulator
- Infant Simulator
- Childbirth Simulator
End User
- Academic Institutes
- Hospitals
- Military Organizations
- Others
Patient Simulators Market Regional Analysis/Insights
The patient simulators market is analysed and market size insights and trends are provided by country, product and end user as referenced above.
The countries covered in the patient simulators market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the patient simulators market due to rising demand for minimal invasive treatments and rising focus on patient safety. Moreover technological advancement and the presence of key market players with established distribution channel will fuel region market growth.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to rising economies such as China and India and increasing medical tourism, whereas government initiatives to improve healthcare infrastructure will boost market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The patient simulators market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for patient simulators market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the patient simulators market. The data is available for historic period 2010-2020.
Competitive Landscape and Patient Simulators Market Share Analysis
The patient simulators market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to patient simulators market.
Some of the major players operating in the patient simulators market are:
- Materialise (Belgium)
- Startasys (Israel)
- CAE Inc. (Canada)
- Surgical Science (Sweden)
- Mentice (Sweden)
- Gaumard Scientific (U.S.)
- Simulab Corporation (U.S.)
- VirtaMed AG (Switzerland)
- 3-Dmed Learning Through Simulation (U.S.)
- Laerdal Medical (Norway)
- 3D Systems, Inc. (U.S.)
- Osteo3d (U.S.)
- Axial3D (U.K.)
- Formlabs (U.S.)
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