The global Healthcare/medical simulations market is projected to reach
USD 2,575.4 million by 2022 from USD 1,284.0 million in 2017, at a CAGR of 14.9%.
The benefits of simulation over traditional learning, increasing demand for
minimally invasive treatments, and increasing focus on patient safety are the
major factors driving the growth of the medical simulations market. The shortage
of healthcare personnel, technological advancements, and growing awareness for
simulation education in emerging countries are opportunities for players to enter
the medical simulations market.
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The global medical simulations market is consolidated at the top with the presence of
few big players in the market. However, at the other end the market is
fragmented, with regional and global players all
competing for market share. CAE (Canada), Laerdal Medical (Norway), 3D
Systems (US), and Gaumard Scientific Company (US) are the major players in this
market. The companies are mainly focusing
on product launches and collaborations, partnerships & alliances.
Laerdal Medical (Norway) held the leading position in the global healthcare/medical
simulation market in
2016. The company offers products and services for basic life support,
advanced life support, simulation, airway management, immobilization, patient
care, self-directed learning, and medical education. The company offers
high-fidelity simulators and task trainers; markets of both are projected to
grow due to increased demand in training
healthcare professionals worldwide. It is an international company with
presence in more than 25 countries and manufacturing plants in Norway, China,
the US, and Mexico. The company has strategically advanced its presence in the
global medical simulation market through growth strategies such as
collaborations and product launches. For instance, in October 2015, Laerdal Medical
collaborated with B-Line Medical and integrated its LLEAP software with
B-Line’s SimCapture, a web-based video capture and
debriefing solution. This integration gives more
control to operators in simulation training. Moreover, in October 2017,
Laerdal Medical launched Little Anne QCPR, to help instructors improve CPR
training quality, efficiency, and learner engagement. Innovative products and
the company’s significant brand value helps the company maintain its leading
position in the market.
CAE (Canada)
is among the leading players in the medical simulation market. The company
offers a wide range of products and solutions for simulation activities. It has
a robust portfolio of products which range from ultrasound to patient,
surgical, and task trainer simulations to name a few. CAE operates in
North America, South America, Africa, Europe, the Middle East, Asia, and
Oceania. The company operates its healthcare simulation business through direct
and indirect sales in more than 80 countries. In 2016, CAE invested 7% of its global
annual revenue in R&D activities. Consolidated revenue from continuing
operations was USD 734.7 million this quarter, USD 52.0 million or 8% higher
than last quarter and USD 12.2 million or 2% higher than the fourth quarter of fiscal
2016. Continued investment in R&D has led the company towards being a major
market player in the medical simulation market.
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