Patient Simulators Global Market Report 2024

The patient simulators market size has grown rapidly in recent years. It will grow from $2.02 billion in 2023 to $2.32 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth observed during the historic period can be ascribed to advancements in medical training, adherence to regulatory standards, an increasing emphasis on patient safety, the financial considerations associated with healthcare training, and the globalization of medical education.

The patient simulators market size is expected to see rapid growth in the next few years. It will grow to $4 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. Anticipated growth in the forecast period can be attributed to a heightened emphasis on telehealth training, a shift towards personalized and adaptive learning approaches, an increasing focus on interprofessional education, the global shortage of healthcare professionals, and the expanded utilization in specialized fields. Notable trends expected in the forecast period include technological innovations, collaborative efforts within the industry, rapid advancements in technology, the integration of ethical and cultural competency simulation, and the incorporation of augmented reality (AR) in simulation.

The anticipated surge in healthcare spending is poised to propel the expansion of the patient simulator market. Healthcare expenditures encompass all costs associated with delivering health services, family planning initiatives, nutrition programs, and emergency health interventions. The upward trend in healthcare spending, exemplified by a 2.7% increase to $4.3 trillion in the United States in 2021, as reported by the Centers for Medicare & Medicaid Services, a federal agency, is expected to foster the advancement of health-related products, including patient simulators. Notably, healthcare spending constituted 18.3% of the country's GDP, underscoring the significant role it plays in driving the growth of the patient simulator market.

The growth of the patient simulator market is further driven by the escalating geriatric population. The term 'geriatric population' refers to individuals aged 65 years or older, and their increasing numbers are anticipated to provide a substantial boost to the market. Patient simulators are indispensable tools for healthcare professionals, enabling them to practice and enhance their skills in geriatric care by replicating realistic scenarios. These scenarios encompass the unique challenges associated with the aging demographic, such as complex medical conditions, chronic diseases, and cognitive impairments. Addressing the growing need for targeted training solutions, patient simulators facilitate the delivery of effective and compassionate care to the expanding elderly population. The World Health Organization (WHO) projected in October 2022 that by 2030, one out of every six individuals globally will be 60 years old or older. Additionally, by 2050, the global population of individuals aged 60 years or older is expected to reach 2.1 billion. Hence, the rise in the geriatric population is identified as a significant driver fueling the growth of the patient simulator market.

Prominent players in the patient simulator market are strategically developing innovative products, such as trauma patient simulators, to expand their customer base, boost sales, and augment revenue. These sophisticated medical training tools replicate physiological responses and clinical conditions associated with traumatic injuries. An illustrative example is TacMed Solutions, a US-based manufacturer, which introduced MATTi in October 2023. MATTi, a female healthcare simulation trauma manikin, is uniquely designed for trauma scenarios while remaining adaptable to non-traumatic clinical settings. Featuring a computer-aided design, MATTi offers unparalleled realistic appearance and anatomical precision, addressing hidden wounds through phenotypical changes. Notably, its innovative design allows for easy limb swapping, enhancing versatility and streamlining the repair process.

Technological advancements are a noteworthy trend in the patient simulator market, with major companies integrating new technologies to maintain their market standing. Gaumard Scientific Co., a US-based medical device company, introduced HAL S5301 in January 2022. This simulator stands out as the world's most advanced multidisciplinary patient simulator, incorporating conversational speech and AI to mimic real-life situations. HAL S5301 boasts sophisticated motor movements, particularly in brain injury simulation, offering life-such as actions imitating stroke and traumatic brain injury (TBI) symptoms. The technology featured in HAL S5301, encompassing conversational speech, life-such as movement, and next-generation synthetic physiology, represents a groundbreaking development in the field.

In March 2023, 3B Scientific, a Germany-based provider of medical simulators and training solutions, acquired Wallcur LLC, a US-based healthcare simulation product manufacturer, for an undisclosed amount. This acquisition combines the strengths of both companies, resulting in a comprehensive range of simulation tools tailored to meet evolving needs in medical education. Wallcur's expertise in healthcare simulation aligns seamlessly with 3B Scientific's mission, fostering a commitment to delivering world-class training solutions that have a lasting impact on medical education. This strategic partnership positions the companies to address the dynamic requirements of medical educators and practitioners effectively.

Major companies operating in the patient simulators market report are CAE Inc., Natera Inc., 3D Systems Inc., Invitae Corporation, KaVo Dental GmbH, Materialise N.V., Nasco Healthcare, Surgical Science Sweden AB, Group NV, Gaumard Scientific Company Inc., 3B Scientific GmbH, Limbs & Things Limited, Mentice AB, TruCorp Ltd., Kyoto Kagaku Co. Ltd., Simulab Corporation, VirtaMed AG, Synaptive Medical Inc., Intelligent Ultrasound PLC, IngMar Medical, Inovus Limited, Simulaids Inc., AppliedVR Inc., HRV Simulation, Laerdal Medical.

North America was the largest region in the patient simulators market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient simulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the patient simulators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of patient simulators include childbirth simulators, adult patient simulators, infant simulators, and other specialized models. A childbirth simulator specifically denotes a manikin employed in healthcare simulation or as a skills task trainer within medical education. Its purpose is to assist students in practicing the entire process of obstetric care, spanning from prenatal evaluation through labor and delivery. These simulators come in varying levels of fidelity, encompassing high-fidelity, medium-fidelity, and low-fidelity models. They are utilized by diverse end users, including academic institutes, hospitals, military organizations, and other relevant entities.

The patient simulator market research report is one of a series of new reports that provides patient simulator market statistics, including the patient simulator industry global market size, regional shares, competitors with a patient simulator market share, detailed patient simulator market segments, market trends, and opportunities, and any further data you may need to thrive in the patient simulator industry. This patient simulator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The patient simulator market consists of sales of endoscopy simulators, laparoscopic simulators, neurosurgery simulators, and emergency simulators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.