CAE (Canada) and Laerdal Medical (Norway) are Leading Players in the Healthcare Simulation Market
The global healthcare simulation market is projected to reach USD 4.6 billion by 2028 from USD 2.2 billion in 2023, at a high CAGR of 15.7% during the forecast period. The expansion of this market is fueled by the increasing adoption of advanced techniques and methodologies in delivering medical education, along with restricted patient access during medical training. Nevertheless, the market's growth is anticipated to be somewhat hampered by the constrained availability of funds and incomplete replication of medical simulators.
Prominent players in the healthcare simulation market include CAE (Canada), Laerdal Medical (Norway), Simulab Corporation (US), Simulaids (US), Limbs & Things (UK), Kyoto Kagaku (Japan), Mentice AB (Sweden), Gaumard Scientific Co. (US), Operative Experience Inc. (US), Cardionics Inc. (US) (a subsidiary of 3B Scientific), VirtaMed AG (Switzerland), SYNBONE AG (Switzerland), IngMar Medical (US), Medical-X (Netherlands), KaVo Dental GmbH (Germany), Altay Scientific (Italy), Simendo B.V. (Netherlands) VRMagic Holding AG (Germany), Symgery (Canada), HRV Simulation (France), Synaptive Medical (Canada), Inovus Medical (UK), TruCorp Ltd. (Ireland), and Surgical Science Sweden AG (Sweden). These companies adopted strategies such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions to strengthen their market presence in the healthcare simulation market.
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AE Inc., based in Canada, stands out as a prominent provider of high-quality healthcare simulation products and software. The company's leading position is a result of its extensive range of offerings in the simulation market and its robust global presence. CAE primarily employs product launches and acquisitions as key growth strategies to enhance its market share. In April 2020, the company introduced new tools and training capabilities, such as the Blue Phantom COVID-19 Ultrasound Lung Simulator. Additionally, the acquisition of Medicor Lab has significantly enhanced the company's capabilities, bringing greater realism to patient simulators.
Laerdal Medical, based in Norway, is a leading provider of solutions for healthcare simulation and skill development, operating across more than 25 countries globally. The company offers a diverse range of healthcare education products and services, encompassing patient simulators, patient care manikins, skills trainers, venous/arterial access products, and simulation software. Laerdal Medical employs both organic growth strategies, such as product launches and innovations, and inorganic growth strategies, including partnerships and collaborations, to expand its geographical presence and augment its market share. Noteworthy collaborations include those with organizations such as the American Heart Association (AHA), the American Academy of Pediatrics (AAP), the British Heart Foundation (BHF), and Jhpiego.
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Healthcare Simulation Market by Product & Service (Simulation (Patient-Fidelity, Surgical-Laparoscopic, Ortho, Spine, Gynae, Ultrasound), Training), Technology (3D Printing, Virtual Patient, Procedural Rehearsal), and End User - Global Forecast to 2028
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