Report : South America Patient Simulators Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Adult Patient Simulator, Infant Simulator, and Childbirth Simulator) and End User (Academic Institutes, Hospitals, and Military Organizations)
At 14.1% CAGR, the South America Patient Simulators Market is speculated to be worth US$ 122.09 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America patient simulators market was valued at US$ 55.42 million in 2022 and is expected to reach US$ 122.09 million by 2028, registering a CAGR of 14.1% from 2022 to 2028. Use of patient simulators for training purposes and rising awareness of simulation education are the critical factors attributed to the South America patient simulators market expansion.
Patient simulation allows healthcare practitioners and students to develop the technical and professional skills required in their chosen fields without the risks inherent in managing human patients. Training models not only allow students to acquire hands-on practice, but they also provide an excellent visual. The high-fidelity simulators have pulses, breath, heart rhythms, and blood pressure that can be detected and displayed on real medical equipment, just as on live patients. These features engage the learner's emotions and provide a realistic learning environment, allowing them to be immersed in the exercise and treat the simulated patient just as they would a live patient. The use of simulation-based training tools in surgery is rapidly increasing and has shown favorable alternative training modes allowing for surgical skill enhancement despite workplace pressures. The major role of simulation is to train those preparing for or working in healthcare delivery. Simulation-based training can transform a team of experts into an expert team. Simulation is the only teaching method that provides repeated hands-on experience with real-time feedback in a safe, controlled environment without causing any harm or inconvenience to real patients. The need for simulator training for in-service education of existing healthcare professionals is growing rapidly and has been amplified by the COVID-19 pandemic. Thus, the growing use of simulators in teaching hospitals, nursing schools, military medical training, and paramedic training centers for training purposes is driving the South America patient simulators market.
On the contrary, high cost of patient simulators hurdles the growth of South America patient simulators market.
Based on product, the South America patient simulators market is segmented into adult patient simulator, infant simulator, and childbirth simulator. The adult patient simulator segment held 48.4% share of South America patient simulators market in 2022, amassing US$ 26.81 million. It is projected to garner US$ 60.51 million by 2028 to expand at 14.5% CAGR during 2022–2028.
Based on end user, the South America patient simulators market is segmented into academic institutes, hospitals, and military organizations. The academic institutes segment held 39.4% share of South America patient simulators market in 2022, amassing US$ 21.84 million. It is projected to garner US$ 49.65 million by 2028 to expand at 14.7% CAGR during 2022–2028.
Based on country, the South America patient simulators market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 75.4% share of South America patient simulators market in 2022. It was assessed at US$ 41.78 million in 2022 and is likely to hit US$ 92.79 million by 2028, exhibiting a CAGR of 14.2% during the forecast period.
Key players dominating the South America patient simulators market are CAE Inc, Gaumard Scientific Co Inc, Kyoto Kagaku Co Ltd, Laerdal Medical AS, Limbs & Things Ltd, Mentice AB, Simulab Corp, Surgical Science Sweden AB, and VirtaMed AG among others.
- In Oct 2020, Mentice AB signed a definitive agreement to acquire Vascular Simulations (VSI). The acquisition expanded Mentice's global leadership role within endovascular simulation by offering value solutions that support all stages of a medical device's development cycle.
- In April 2022, CAE Healthcare started deliveries of its newest high-fidelity paediatric patient simulator, CAE Aria. The Company ramped up production to accommodate demand for the medical manikin amid increasing challenges accessing paediatric patients for clinical training.
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