The 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).
What is Healthcare Simulation?
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.
Market Dynamics
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.
Regional Analysis
North America is expected to remain the largest market share for healthcare simulation and it holds a revenue share of more than 50% in 2020. 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.
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