Healthcare

Healthcare/Medical Simulation Industry Trends, Business Strategies and Opportunities with Key Players Analysis

Healthcare/Medical Simulation Industry
Press Release

The global healthcare/medical simulation market is growing significantly due to technological advancements and increasing demand for minimally invasive procedures. Massive unexplored healthcare/medical simulation market in emerging economies and lack of service providers are creating ample opportunities for the global healthcare/medical simulation market to grow at a considerable rate in the coming years.

Adoption of medical simulation technology in hospitals and academic institutes worldwide in order to reduce the medical errors and improve patient safety is a trend in healthcare/medical simulation market. Deaths occurring due to medical mistakes are major concern across the globe. According to a report published in September 2013, in the Journal of Patient Safety, more than 440,000 people die every year due to preventable medical errors. Healthcare simulation may simulate critical medical conditions without any harm to patients; this in turn helps medical professionals to evaluate their practices and reduce their mistakes. Medical simulation is capable of reproducing critical events over and over again and hence, explores consequences of each error or mistake made.

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Some of the factors driving the growth of the global healthcare/medical simulation market are increasing focus on reducing medical errors, regulatory guidelines on patient safety, increasing demand on minimally invasive procedures, technological advancements, and increasing healthcare expenditure. However, lack of sufficient data for healthcare simulation and high cost of medical simulators are some of the factors restraining the growth of the global healthcare/medical simulation market to some extent.

Geographically, North America will be leading the global healthcare/medical simulation market in the coming years, due to technological advancements, high healthcare expenditure, and presence of a large number of hospitals and academic institutions. In addition, Patient Safety and Quality Improvement Act in the U.S. is also driving its market in North America region.

Laerdal Medical As, 3D Systems, Inc., CAE, Inc., Kyoto Kagaku Co., Ltd., Limbs & Things, Ltd., Gaumard Scientific Company, Inc., Simulab Corporation, Surgical Science Sweden Ab, and Mentice Ab are the some major players operating in the global healthcare/medical simulation market.

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