The rising launch of high-fidelity simulators which provide the most realistic experience by the developers is a major factor propelling market growth. For instance, in February 2018, MedaPhor launched BodyWorks Eve, a high-fidelity female manikin-based simulator that can be used by medical professionals to meet educational requirements. The Point of Care Ultrasound (PoCUS) simulator can be used across emergency medicine and critical care.
Moreover, increasing healthcare expenditure is also expected to boost adoption of medical simulators. The healthcare spending will improve quality of the healthcare services, aid in employing more practitioners, and better medical training and developed infrastructure with advanced software. For instance, according to World Health Organization, China’s healthcare market reached US$ 853.7 billion in 2016, an increase of 12% in local currency, the number projected to reach $1.1 trillion by 2020.
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Manufacturers in the Global Healthcare Simulators market are focusing on strategic mergers and acquisitions in order to gain significant market share. For instance, in August 2014, 3D Systems acquired Simbionix which was the global leader in 3D virtual reality surgical simulation and training. This technology by Simbionix was complementary with 3D System’s product offering.
Furthermore, the web-based simulation programs provide a valuable resource as they can be combined with classroom teaching, thereby facilitating the development of students’ clinical competence. Thus, increasing demand for web-based simulation is directly associated with the increasing number of medical institutes for providing students with clinical placement experience, especially in the field of medicine and nursing.
However, simulators cannot mimic human systems completely. The complexity and diversity of human systems is very high and difficult to be mimicked by instruments or software, providing the inadequate information as compared to human response. Moreover, medical stimulators require technically trained professionals to guide through the learning process involved in simulation-based medical education. All such factors are expected to negatively impact the market growth over the forecast period.
Moreover, manufacturers are launching new products in regular intervals with new technology and increasing fidelity, which is fuelling the market growth over the forecast period. For instance, in May 2018, SimMan Vascular System was developed by Laerdal Medical, in collaboration with Mentice. It includes Mentice VIST technology and is largely adopted in pre- and in-hospital team training to support acute endovascular procedures.
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Major players operating in the global healthcare simulators market include, Laerdal Medical, 3D Systems, Simulab Corporation, Simulaids, Inc., Kyoto Kagaku, Mentice, Medaphor, CAE Healthcare, Gaumard Scientific Company, Limbs & Things, BT, Inc., Trandomed 3D, Inc., Fujian Zhongli Co., Ltd., and Tellyes Scientific Co., Ltd.
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