european-medical-simulation-market-industry
Published

SEP 2018

Europe Medical Simulation Market - Segmented by Products & Services, by End-user (Academics & Research Institute, Hospitals, and Others), Geography - Growth, Trends, and Forecasts (2018 - 2023)

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Market overview

The Europe Medical Simulation Market is expected to witness a robust growth due to continuous technological advancements, increasing concern over patient safety, and increasing demand for minimally invasive treatments. Medical simulation is the modern day methodology for training healthcare professionals through the use of advanced educational technology. Medical simulation is an experiential learning that every healthcare professional will need, but cannot be engaged in always during real-life patient care. Medical simulation has also been called healthcare simulation, simulation in healthcare, patient simulation, nursing simulation, surgical simulation and clinical simulation.

Continuous Technological Advancements to Boost the Growth of Europe Medical Simulation Market

The European medical simulation market is expected to witness a high CAGR, owing to constant technology advancements in the field. Technology-enhanced simulation has seen increasing applications in healthcare for training healthcare professionals. Furthermore, it is projected to play essential roles in standardized assessment of clinical competencies, and as clinical research tools, manikins have been widely available for practices, such as CPR and airway management training. Also, new simulators that are unique in their functionality have been developed by companies. Patient-specific virtual reality simulation (PSVR) is a new technological advancement that allows the practice of future real operations and complements the traditional role of VR simulation as a generic training tool. RoSS (robotic surgery simulator) is changing the way surgeons improve their skills. It allows the real-world views of actual surgeries. It also helps aspiring, practicing, or professional surgeons, the chance to experiment and make mistakes in a simulated environment. More importantly, it provides these surgeons the tools they need to get it right in times of surgeries. Thus, the rise in technological advancements in the field of medical simulation is increasing the applications in healthcare for training healthcare professionals, and owing to this factor, the market studied is expected to grow over the forecast period.

High Cost of Simulators to Restrain the Growth of the Europe Medical Simulation Market

The high cost of medical simulators is one of the major restraining factors for the growth of the European medical simulation market. The initial equipment purchase can be costly, and rapid improvements can quickly become outdated. The software updates and additional scenarios are also available in the market, but it bears the extra cost. Most institutions recognize overall benefits of simulation. However, concerns exist over the capital costs of developing a simulation center. The reported average cost to start a well-equipped lab is estimated at USD 450,000 (ranging from USD 100,000 to several million dollars). In addition, a simulation center requires between USD 12,000-300,000 annually, for consumable materials, such as surgical supplies, maintenance, and upgrades, as well as other administrative overhead costs. Although, the high cost of stimulators is restraining the growth, Technology Enhanced Learning Framework, published in 2011 by the UK Department of Health, made strong recommendations for simulation adoption in routine practice. Thus, such a huge investment is required in a medical simulation, which is expected to impede the growth of the market over the forecast period.

UK Dominates the Europe Medical Simulation Market  

Factors, such as rise in technological advancement and various initiatives by the government to support simulation in healthcare field are driving the UK market. In the United Kingdom, Society in Europe for Simulation Applied to Medicine (SESAM) is taking various initiatives to encourage and support the use of simulation in healthcare for the purpose of training and research. Furthermore, Association for Simulated Practice in Healthcare (ASPiH) conducted a National Simulation Development Project, which was supported by HEE (Health Education England) and the Higher Education Academy (HEA). The purpose of the study was to map the resources and implementation of simulation-based education (SBE) and technology enhanced learning (TEL) across the United Kingdom. These initiatives are expected to propel the overall growth of the market over the forecast period.

Key Developments in the Europe Medical Simulation Market

  • Jun 2018 : CAE Healthcare releases CAE Ares training simulator for life support and emergency care
  • May 2018: The American Society of Anesthesiologists (ASA) and CAE Healthcare announced the launch of the latest release in their first of its kind, interactive, screen-based simulation training product line Anesthesia SimSTAT.

Major Players: 3B Scientific GmbH, B-Line Medical LLC (Subsidiary Ofatellis Inc.), CAE, Education Management Solutions Inc. (EMS), Ingmar Medical Ltd, Mentice AB, Surgical Science Sweden AB, and Simulab Corporation among others.

Europe Medical Simulation Market Report Summary

Metrics

Details

Industry

Europe Medical Simulation Market

Study Period

(2015 – 2023)

Key Developments

Jun 2018 : CAE Healthcare releases CAE Ares training simulator for life support and emergency care

May 2018: The American Society of Anesthesiologists (ASA) and CAE Healthcare announced the launch of the latest release in their first of its kind, interactive, screen-based simulation training product line Anesthesia SimSTAT.

Companies Covered

3B Scientific GmbH, B-Line Medical LLC (Subsidiary Ofatellis Inc.), CAE, Education Management Solutions Inc. (EMS), Ingmar Medical Ltd, Mentice AB, Surgical Science Sweden AB, and Simulab Corporation among others.

Report Offerings

Europe Medical Simulation Market offers latest trends,   growth prospects, industry competitiveness, major players, value/supply chain, regional market share and forecast to 2023

Reasons to Purchase Europe Medical Simulation Market Report

  • Analyzing various perspectives of the Europe Medical Simulation Market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares and strategies employed by the major market players
  • 3-month analyst support along with the Market Estimate sheet (in Excel)

Customization of the Europe Medical Simulation Market Report

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