Industry Background:
Rapidly growing demand for training and education sector will help to boost global patient stimulator market in the forecasted period. Patient simulators are manikins that respond physiologically as if they were alive. It is a training model in which healthcare professionals practice tasks and processes in real-life circumstances using virtual reality or simulation models. They are integrated with computer software that lets those replicate normal and abnormal bodily responses to events (such as an asthma attack) and therapeutic interventions (such as a drug side effect). The upsurge in the use of simulation in healthcare, limited access to live patients during training, the surge in emphasis on patient safety & outcomes, and medical technology revolution drive the global patient simulation market.
According to AMA, the market for Patient Simulator is expected to register a CAGR of 14.0% during the forecast period to 2026. This growth is primarily driven by High Adoption Owing To Increase in Awareness about the Benefits of Simulation in Healthcare Industry and Growing Adoption Due To Easy Learning Process.
Globally, a noticeable market trend is evident Increasing Focus on Patient Safety
. The Health Care Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as 3D Systems (United States), CAE Inc. (Canada), Gaumard Scientific Company (United States), Kyoto Kagaku Co. Ltd (Japan), Laerdal Medical AS (Norway), Medtice AB (Canada), Simulab Corporation (United States), Simulaids Inc. (United States), Surgical Science Sweden (Sweden) and Limbs and Things (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 28th May 2019, CAE Healthcare and ESPA-Montréal have announced that they have established a training partnership to improve clinical education and impact the quality and safety of patient care in Québec. They will develop and validate new training technologies, tools, software and curriculum for healthcare professionals and students.
On 19th Feb 2019, CAE Healthcare has introduced “To Err is Human” patient safety advocates at Human Patient Simulation Network conference
Market Drivers
- High Adoption Owing To Increase in Awareness about the Benefits of Simulation in Healthcare Industry
- Growing Adoption Due To Easy Learning Process
Market Trend
- Increasing Focus on Patient Safety
- Fueling Demand for Minimally Invasive Treatments
Restraints
- High Cost Associated To Patient Stimulators
Opportunities
Increasing Awareness of Simulation Education in Developing Countries and Rise in Healthcare Expenditures Emerging Countries
Challenges
Growing Concern Regarding Operational Challenges
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Patient Simulator Study Sheds Light on
The Patient Simulator Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Patient Simulator industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Patient Simulator industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.