Overview and Scope
A patient simulator refers to any manikin that replicates human anatomy or function (physiology). This can be used to instruct students and prepare healthcare professionals.
Sizing and Forecast
The patient simulators market size has grown rapidly in recent years. It will grow from $2.02 billion in 2023 to $2.32 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to medical training advancements, regulatory standards, rising demand for patient safety, cost of healthcare training, globalization of medical education.
The patient simulators market size is expected to see rapid growth in the next few years. It will grow to $4 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to increased focus on telehealth training, personalized and adaptive learning, growing emphasis on interprofessional education, global shortage of healthcare professionals, expanded use in specialized fields. Major trends in the forecast period include technological innovations, industry collaborations, rapid technological advancements, ethical and cultural competency simulation, augmented reality (ar) in simulation.
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Segmentation & Regional Insights
The patient simulators market covered in this report is segmented –
1) By Type: Childbirth Simulator, Adult Patient Simulator, Infant Simulator, Other Types
2) By Intensity: High-Fidelity Simulator, Medium-Fidelity Simulator, Low-Fidelity Simulator
3) By End User: Academic Institutes, Hospitals, Military Organizations, Other End Users
North America was the largest region in the patient simulators market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient simulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in healthcare expenditures is expected to propel the growth of the patient simulator market going forward. Health expenditures refer to all costs associated with providing health services, family planning activities, nutrition programs, and emergency help focusing on health. Increasing healthcare expenditure would help advance and develop various health-related products, including patient simulators. For instance, in February 2023, according to the Centers for Medicare & Medicaid Services, a US-based federal agency, healthcare spending in the United States increased by 2.7% to $4.3 trillion in 2021. Further, spending on healthcare accounted for 18.3 percent of the country’s GDP. Therefore, the rise in healthcare expenditures is driving the growth of the patient simulator market.
Key Industry Players
Major companies operating in the patient simulators market report are CAE Inc., Natera Inc., 3D Systems Inc., Invitae Corporation, KaVo Dental GmbH, Materialise N.V., Nasco Healthcare, Surgical Science Sweden AB, Group NV, Gaumard Scientific Company Inc., 3B Scientific GmbH, Limbs & Things Limited, Mentice AB, TruCorp Ltd., Kyoto Kagaku Co. Ltd., Simulab Corporation, VirtaMed AG, Synaptive Medical Inc., Intelligent Ultrasound plc, IngMar Medical, Inovus Limited, Simulaids Inc., AppliedVR Inc., HRV Simulation, Laerdal Medical
The patient simulators market report table of contents includes:
- Executive Summary
- Patient Simulators Market Characteristics
- Patient Simulators Market Trends And Strategies
- Patient Simulators Market – Macro Economic Scenario
- Global Patient Simulators Market Size and Growth
- Patient Simulators Market Segmentation
- Patient Simulators Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Patient Simulators Market
- Patient Simulators Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Patient Simulators Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Patient Simulators Market, Segmentation By Intensity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Patient Simulators Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: CAE Inc. Financial Performance
Table 75: Natera Inc. Financial Performance
Table 76: 3D Systems Inc. Financial Performance
Table 77: Invitae Corporation Financial Performance
Table 78: KaVo Dental GmbH Financial Performance
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