The global patient simulators market is expected to reach US$ 2,373.1 Mn in 2025 from US$ 694.6 in 2017. The market is estimated to grow with a CAGR of 16.8% from 2018-2025.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period, whereas the market is expected to witness growth at a significant rate in Asia Pacific (APAC) region during the forecast period. The Asia Pacific patient simulators market is expected to grow with CAGR of 18.1% to US$ 412.7 Mn 2025 from US$ 110.6 Mn in 2017. Factors such supportive government guideline, product innovations in Japan as well as presence of startup companies operating in patient simulators market are likely to grow the market in the forecast period.
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The major players operating in the global patient simulators market include, CAE Healthcare, Laerdal Medical, 3D Systems, Inc., Gaumard Scientific, Kyoto Kagaku Co., Ltd., Simulab Corporation, Simulaids, Surgical Science, Surgical Science and Limbs & Things LTD among others. For instance, in January 2018, Laerdal Medical launched the new SimNewB and SimBaby simulators. The launch increased the ability to strengthen the portfolio of simulators. The developments performed by the companies are helping the market to grow in the coming years.
Global patient simulators market, based on the product was segmented into adult patient simulator, infant simulator, and childbirth simulator. In 2017, the adult patient simulator segment held a largest market share of 50.3% of the patient simulators, by product. This segment is also expected to dominate the market in 2025. The growth of the market is primarily attributed to the use of adult patient simulators in various training programs across the globe and also the segment is expected to grow with the fastest growth rate of 16.8% during the forecast period, 2018 to 2025.
The market for global patient simulators is expected to grow as increasing demand for minimally invasive treatment methods, growing technological advancement and rising focus on patient safety in the market. Additionally, the future trend such as virtual reality and augmented reality in patient simulators in the patient simulators market is expected to increase in the forecast period.
Patient simulators are combined with computer software that replicate normal and abnormal bodily answers to asthma attack and therapeutic interventions. Costs associated with the use of medium- and high-fidelity manikins were calculated to determine the total cost for each. The cost-utility analysis with the help of multiattribute utility function was conducted for the combination costs and three outcomes of clinical reasoning, knowledge acquisition and student satisfaction from a quasi-experimental study to arrive at an overall cost utility. For instance, 3B Scientific Patient Care Manikin BASIC, for simulation in healthcare was developed for scenario-based training of basic patient care and nursing skills. The simulator costs approximately US$ 2700. Moreover, the 3B Scientific Birthing Simulator P90 PRO is developed for the skill training in normal deliveries, in complicated deliveries and in obstetric emergencies. This simulator costs around US$ 1500.
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