SEATTLE, July 10, 2019 /PRNewswire/ — According to Coherent Market Insights, the global healthcare simulators market was valued at US$ 1,347.9 million in 2018, and is projected to exhibit a CAGR of 14.7% during the forecast period (2018 – 2026).
Key Trends and Analysis of the Global Healthcare Simulators Market:
The global healthcare simulators market size is expected to witness remarkable growth in the forecast period, owing to increasing launch of new products with new technology and increasing fidelity. For instance, in January 2018, CAE launched LucinaAR with Microsoft HoloLens, the world’s first patient simulator with modelled physiology.
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Moreover, key players in the market are focused on adopting acquisition strategies to expand their product portfolio. For instance, in August 2016, MedaPhor Group plc. acquired Inventive Medical Limited, which is a U.K.-based company that supplies cardio ultrasound simulation products under the HeartWorks brand. This will help MedaPhor Group plc.to strengthen customer base in the U.K.
Rising implementation of simulation technology by medial and academic institutions is also expected to drive the market growth. For instance, according to a report on the U.S. medical school’s curriculum by the Association of American Medical Colleges, 2014, 136 out of 140 medical schools who participated in the survey had simulation centers in which mannequin-based simulation was one of the most commonly practiced type of healthcare education provided to the medical students.
Manufacturers are increasingly focusing on producing high-fidelity products, which can mimic human anatomy as precisely as possible. Currently, Virtual Reality (VR) is the key technology targeted by manufacturers to gain a competitive advantage in the market. For instance, in July 2018, Johnson & Johnson launched VR training program for surgeons and nurses to help improve surgical techniques and drive greater patient outcomes.
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Key Market Takeaways:
Report Segmentation:
Global Healthcare Simulators Market, By Product and Services Type:
Global Healthcare Simulators Market, By Fidelity (Anatomical Models):
Global Healthcare Simulators Market, By End User:
Global Healthcare Simulators Market, By Region:
Company Profiles
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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SOURCE Coherent Market Insights
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