Healthcare Simulation Market Highlights
The global healthcare simulation market is expected to grow at a CAGR of 14.2% during the forecast period with its market size predicted to reach USD 4.0 billion by 2024. The global healthcare simulation market is growing at a significant rate, due to advantages of simulation over conventional learning, technological advancements, and increasing need for minimally invasive treatments. Different product and services contributed to the healthcare/medical simulation market size. The market has witnessed a high demand for anatomical models over the last few years due to mounting primary care services, and scarcity of healthcare professionals.

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Lack of healthcare personnel, mounting pressure on educators, improving healthcare infrastructure in developing countries and budding alertness on simulation learning in developing countries are also facilitating the growth for the healthcare simulation market. Technological improvements are also driving the growth of the market. For instance, in January 2018, CAE introduced CAE LucinaAR with Microsoft HoloLens, the reality childbirth simulator with incorporated mother-baby physiology. It permits beginners to understand the anatomy within the patient simulator.

The budgetary constraints, operational challenges and high cost of simulators are the major challenges for the growth of healthcare/medical simulation market. Moreover, disinclination to accept innovative training methods and inadequate obtainability of assets in emerging countries are also hindering the growth of the healthcare/medical simulation market.

Asia-Pacific is observed to witness the fastest growth in the market, as the region comprises of the large population base. In addition, mounting awareness on simulation learning, refining healthcare infrastructure, budding focus on the global medical simulation players, mounting healthcare expenditure and mounting emphasis on patient safety are also creating a positive impact on the healthcare/medical simulation market growth in the region.

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CAE Inc. and Laerdal Medical accounted for the major share in the market. CAE Inc., Simulab Corporation, 3D Systems Inc., Mentice AB, Gaumard Scientific Company, Simulaids Inc., Kyoto Kagaku Co., Ltd, Limbs & Things Ltd., Laerdal Medical and MedaPhor are the key players offering healthcare/medical simulation.

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