The North America Patient simulator market is expected to reach US$ 1,047.0 Mn in 2025 from US$ 303.0 in 2017. The market is estimated to grow with a CAGR of 17.0% from 2018-2025.
The growth of the market is primarily attributed to the factors such as, increasing adoption of minimally invasive surgeries and growing high-tech innovation.
Patient simulators are combined with computer software, which replicates normal and abnormal bodily reactions to events, such as asthma attack and therapeutic interventions, which include a drug side effect. Simulated blood can be pumped into the veins through an intravenous (IV) tube. Patient simulators are life-like manikins that react physiologically as a normal human being. The stimulators are specifically designed with respiratory therapy, nursing, and emergency medical students in mind.
Advancement in the field of patient simulators has enhanced the market. Many industry players have come up with innovative types of simulators in the last few years. The advancement in the simulators has led to faster and easier treatment and recovery of patients. Besides, the investments from public and private investors are rising for the simulators. In order to improvise the technique, there have been various innovations as well as developments in the field. There have been numerous image enhancement innovations in recent years to enable better usage of simulators.
New technologies were developed to reduce the time of the surgeons and the patients. For instance, in January 2018, CAE Healthcare launched the CAE LucinaAR with Microsoft HoloLens, the world’s first augmented reality childbirth simulator with integrated mother-baby physiology. Thus, the innovative steps and technological advancements were undertaken by new entrants as well as established market players to improve the quality and efficacy of patient simulators is expected to favor the growth of the market in the years to come.
In 2017, the adult patient simulator segment held a largest market share of the patient simulator market, by product. the adult patient simulator segment is also expected to dominate its market share in 2025 The adult patient simulators are wireless, affordable and are built to withstand a wide variety of learning environments, they are preferred simulator for indoor/outdoor interdisciplinary scenarios requiring triage, treatment and transport. Thus the demand for the adult patient simulator segment is anticipated to grow at a considerable rate.
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In 2017, the academic institutes held a largest market share of the patient simulator market, by end user. This segment is also expected to dominate the market in 2025. Moreover, the similar segment is expected to grow at the fastest growth rate during the forecast period, 2018 to 2025.
Some of the major primary and secondary sources for patient simulator included in the report are, Canadian Association of Geographers (CAG), Centers for Disease Control and Prevention (CDC), Pan American Health Organization, The U.S. Embassy in Mexico, through its Agency for International Development Organization for Economic Co-operation and Development (OECD) and others.