The North America patient simulatorsmarket was valued at US$ 403.51 million in 2019 and is projected to reach US$ 1,503.65 million by 2027; it is expected to grow at a CAGR of 18.0% from 2020 to 2027.
The growth of the market is attributed to theincreasing demand for minimally invasive treatment methods, growing technological advancements, and rising focus on patient safety. However, the high cost of patient simulators hindersthe growth of the market.
The increasing availability of better healthcare facilities has resulted in the rising preference for patient simulators in nursing education.For instance, the Johns Hopkins Medicine Simulation Center is a fully accredited state-of-the-art medical training facility that incorporates teaching associate simulation, human patient simulation, virtual reality, task trainer simulation, and computerized simulation, among others. Ensuring patientsafety is the primary goal of implementing these facilities atthe center.
Additionally, North America is witnessingexponential growth in thenumber of COVID-19 cases since its outbreak. For instance, according to Worldometer, the number of infected patients was6,485,575,and the count ofreported deaths was 193,534in the USon September 6, 2020. The cases are also increasing in Mexico and Canada; in Mexico, the cases have reached 637,509 with 67,781 deaths. The COVID-19 outbreak has opened many opportunities for the use of simulation. It can be utilized to scaleup workforce capacity through experiential learning; moreover, simulationand simulation facilitators can assist in the optimization of work structures and processes. Thus, the North America patient simulators market is expected to witness significant growth during the forecast period.
North America Patient SimulatorsMarketRevenue and Forecast to 2027 (US$ Million)
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North America Patient Simulators Market Segmentation
By Product
- Adult Patient Simulator
- Infant Simulator
- Childbirth Simulator
By End User
- Academic Institutes
- Hospitals
- Military Organizations
Company Profiles
- CAE Inc.
- Laerdal Medical
- 3D Systems, Inc.
- Gaumard Scientific
- Kyoto Kagaku Co., Ltd.
- Simulab Corporation
- Simulaids
- Surgical Science
- Mentice AB
- Limbs & Things LTD
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, End User, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Patient Simulators Market – By Product
1.3.2 Patient Simulators Market – By End User
1.3.3 Patient Simulators Market – By Country
2. Patient Simulators Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Patient Simulators Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.3 Expert Opinion
5. North America Patient Simulators Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Minimally Invasive Treatment Methods
5.1.2 Growing Technological Advancement
5.2 Key Market Challenge
5.2.1 High Cost Associated with Patient Simulators
5.3 Key Market Opportunity
5.3.1 Rising Awareness on Simulation Education
5.4 Future Trend
5.4.1 Virtual Reality and Augmented Reality in Patient Simulators
5.5 Impact analysis
6. Patient Simulators Market – North America Analysis
6.1 North America Patient simulators market Revenue Forecasts and Analysis (us$ Mn)
6.2 Market Positioning of Key Players
7. North America Patient Simulators Market Analysis – By Product
7.1 Overview
7.2 North America Patient Simulators Market Shares By Product, 2019 & 2027 (%)
7.3 ADULT PATIENT SIMULATORS MARKET
7.3.1 Overview
7.3.2 North America Adult Patient Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 Infant Simulators Market
7.4.1 Overview
7.4.2 North America Infant Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Childbirth Simulators Market
7.5.1 Overview
7.5.2 North America Childbirth Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
8. North America Patient Simulators Market Analysis – By End User
8.1 Overview
8.2 North America Patient Simulators Market Shares by End User, 2019 & 2027 (%)
8.3 Academic Institutes Market
8.3.1 Overview
8.3.2 North America Academic institutes Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Hospitals Market
8.4.1 Overview
8.4.2 North America Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Military Organizations Market
8.5.1 Overview
8.5.2 North America Military Organizations Market Revenue and Forecasts to 2027 (US$ Mn)
9. North America Patient Simulators Market Revenue and Forecasts to 2027
9.1 Overview
9.2 North America Patient simulators market Revenue and Forecasts to 2027 (us$ Mn)
9.3 North America Patient Simulators Market Revenue and Forecasts to 2027, By product (US$ Mn)
9.4 North America Patient Simulators Market Revenue And Forecasts to 2027, By End user (US$ Mn)
9.5 North America Patient Simulators Market Share, By Country (2019 & 2027) (%)
9.6 US Patient Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
9.6.1 US Patient Simulators Market Revenue And Forecasts to 2027 (US$ Mn)
9.6.2 US Patient Simulators Market Revenue and Forecasts to 2027, By Product (US$ Mn)
9.6.3 US Patient Simulators Market Revenue And Forecasts to 2027, By End User (US$ Mn)
9.7 Canada Patient simulators market Revenue and Forecasts to 2027 (US$ Mn)
9.7.1 Canada Patient Simulators Market Revenue And Forecasts to 2027 (US$ Mn)
9.7.2 Canada Patient Simulators Market Revenue and Forecasts to 2027, By Product (US$ Mn)
9.7.3 Canada Patient Simulators Market Revenue And Forecasts to 2027, By End User (US$ Mn)
9.8 Mexico Patient simulators market Revenue and Forecasts to 2027 (US$ Mn)
9.8.1 Mexico Patient Simulators Market Revenue And Forecasts To 2027 (US$ Mn)
9.8.2 Mexico Patient Simulators Market Revenue and Forecasts to 2027, By Product (US$ Mn)
9.8.3 Mexico Patient Simulators Market Revenue And Forecasts to 2027, By End User (US$ Mn)
10. Impact of COVID-19 Pandemic on North America Patient Simulators Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Patient Simulators Market – Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 CAE
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 Product Portfolio
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Laerdal Medical
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 Product Portfolio
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 3D Systems, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 Product Portfolio
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Gaumard Scientific
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Information
12.4.4 Product Portfolio
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Kyoto Kagaku Co., Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Information
12.5.4 Product Portfolio
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Simulab Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Financial Information
12.6.4 Product Portfolio
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Simulaids
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 Product Portfolio
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Surgical Science
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 Product Portfolio
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Mentice AB
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 Product Portfolio
12.9.5 SWOT ANALYSIS
12.9.6 Key Developments
12.10 Limbs & Things LTD
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Financial Overview
12.10.4 Product Portfolio
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Cost of the Few High-Fidelity Simulators
Table 2. North America patient simulators market Revenue And Forecasts to 2027, By product (US$ Mn)
Table 3. North America Patient simulators market Revenue And Forecasts to 2027, By End user (US$ Mn)
Table 4. US Patient Simulators Market Revenue And Forecasts to 2027, By product (US$ Mn)
Table 5. US Patient Simulators Market Revenue And Forecasts to 2027, By End user (US$ Mn)
Table 6. Canada Patient Simulators Market Revenue And Forecasts to 2027, By product (US$ Mn)
Table 7. Canada Patient Simulators Market Revenue And Forecasts to 2027, By End user (US$ Mn)
Table 8. Mexico Patient Simulators Market Revenue And Forecasts to 2027, By product (US$ Mn)
Table 9. Mexico Patient Simulators Market Revenue And Forecasts to 2027, By End user (US$ Mn)
Table 10. Organic Developments Done By Companies
Table 11. Inorganic Developments Done By Companies
Table 12. Glossary of Terms, patient simulators market
LIST OF FIGURES
Figure 1. Patient Simulators Market Segmentation
Figure 2. Patient Simulators Market– By Geography
Figure 3. North America Patient Simulators Market Overview
Figure 4. Adult Patient Simulator Segment Held Largest Share of Patient Simulators Market
Figure 5. US Is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. North America Patient Simulators Market, Industry Landscape
Figure 7. North America PEST Analysis
Figure 8. Patient simulators market impact analysis of driver and restraints
Figure 9. North America Patient Simulators Market – Revenue Forecasts and Analysis – 2019- 2027 (US$ Mn)
Figure 10. Market Positioning of Key Players
Figure 11. North America Patient Simulators Market Shares By Product, 2019 & 2027 (%)
Figure 12. North America Adult Patient Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. North America Infant Simulators Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 14. North America Childbirth Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. North America Patient Simulators Market Shares By End User, 2019 & 2027 (%)
Figure 16. North America Academic Institutes Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. North America Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. North America Military Organizations Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. North America Patient Simulators Market Revenue Overview, by Country (2019) (US$ Mn)
Figure 20. North America Patient Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 21. North America Patient Simulators Market Share, By Country (2019 & 2027) (%)
Figure 22. US Patient Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. Canada Patient Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. Mexico Patient Simulators Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 25. Impact of COVID-19 Pandemic on Patient Simulators Market in North America
Figure 26. Growth Strategies Done by the Companies in the Market, (%)
The List of Companies - North America Patient Simulators Market
- CAE Inc.
- Laerdal Medical
- 3D Systems, Inc.
- Gaumard Scientific
- Kyoto Kagaku Co., Ltd.
- Simulab Corporation
- Simulaids
- Surgical Science
- Mentice AB
- Limbs & Things LTD
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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