Patient Simulator Market Expected to Reach $1.22 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Patient Simulator Market," The patient simulator market size was valued at $530.26 million in 2022, and is estimated to reach $1,221.83 million by 2032, growing at a CAGR of 8.7% from 2023 to 2032. The patient simulator market analysis from 2022 to 2032 to identify the prevailing patient simulator market opportunity. 

The major factors that drive the growth of the patient simulator market are rise in awareness regarding simulation education and increase in the number of medical institutions and hospitals offering simulation-based training programs. For instance, according to American Hospital Association, there are 6,146 hospitals in the U.S. in 2022. Thus, presence of healthcare institutes demands highly skilled professionals who can provide quality care to patients, which is expected to potentially drive the growth of the patient simulator market size. In addition, the rise in awareness regarding simulation education has led to an increased demand for patient simulators. Medical professionals recognize the benefits of simulation-based training, and many seek out opportunities to gain experience using patient simulators. This has led to an increase in the adoption of these simulators across the healthcare industry.

Furthermore, the rise in prevalence of chronic diseases and growth in adoption of minimally invasive surgical procedures by both patients & healthcare professionals, owing to its advantages, drive the demand for patient simulation technology. Chronic diseases such as diabetes, heart disease, and cancer require complex and long-term treatment plans. Simulation-based training can help healthcare professionals develop the skills necessary to provide effective care for patients with chronic diseases, improving patient outcomes, and reducing healthcare costs. Furthermore, the ability to simulate chronic disease scenarios can be used to educate patients about their conditions, helping them to manage their health more effectively.

In addition, advancements in technology contributes to the growth of the patient simulator market share. The development of high-fidelity manikins, virtual reality tools, and other simulation technologies has led to a more immersive and realistic simulation experience. This has led to increased adoption of simulation-based training across various healthcare specialties, including surgery, critical care, and emergency medicine. In particular, virtual reality technology has become increasingly popular for surgical training, providing learners with a more realistic experience of surgical procedures. Thus, the surge in advancement in simulation models is anticipated to drive the growth of patient simulator market trends.

Furthermore, rise in adoption of strategies such as acquisition, partnerships, and agreements by key players to meet the demand for patient simulators is anticipated to fuel the growth of patient simulator market share. For instance, in October 2020, Mentice AB, announced acquisition of Vascular Simulations (VSI) company, a world-leading provider of replication solutions. In addition, surge in collaborations among key manufacturers and government organizations further fuels the market growth. For instance, in November 2022, the American Society for Gastrointestinal Endoscopy (ASGE) announced a collaboration with Surgical Science AB to develop new gastrointestinal endoscopy (GI), an endoscopic simulation-based training and curricula for GI fellows and advanced fellows, as well as general and advanced endoscopists. Thus, such initiatives and strategies adopted by key manufactures and government organizations are anticipated to potentially drive the demand in the patient simulators market.

On the basis of type, the market is categorized into adult patient simulator, infant simulator, and childbirth simulator. The adult patient simulator segment accounted for the largest share in 2022 and is expected to remain dominant during the patient simulator market forecast period owing to rise in number of adult population suffering from chronic diseases, which demands advanced simulators that allow immersive and realistic simulation experience. Furthermore, there is rise in number of key players offering such advanced adult patient simulator system.

Depending on technology, the patient simulator industry is categorized into High-fidelity Simulators, Medium-fidelity Simulators and Low-fidelity Simulators. The Low-fidelity Simulators segment occupied highest share in 2022 owing to the affordable cost of the systems, increase in awareness of simulation-based training programs and rise in number of healthcare institutes. However, Medium-fidelity Simulators is projected to register fastest CAGR during the forecast period, owing to its advantages such as flexible and versatile training tools that can provide a realistic and customizable training experience. Furthermore, affordable cost is driving the segment growth.

By end user, the patient simulator industry is bifurcated into hospitals and academic institutions. The Hospital segment occupied largest share in 2022, owing to increase in demand of skilled healthcare professionals and increase in awareness regarding patient safety. However, the academic institutions segment is projected to manifest the fastest CAGR from 2023 to 2032, owing to rise in funding & grants for simulation labs and training programs, surge in availability of wide range of simulators depending upon the diseased condition.

Region wise, North America accounted for the largest share in terms of revenue in 2022, owing to rise in focus on patient safety, growth in demand for minimally invasive surgeries that require skilled professionals, technological advancement, and strong presence of key players with established distribution channels. However, Asia-Pacific is anticipated to witness notable growth owing to rise in government initiatives to improve healthcare infrastructure, increase in demand for skilled healthcare professionals, and upsurge in chronic diseased conditions that require surgeries.

Key findings of the study

• By type, the adult patient simulator segment was highest contributor to the market in 2022.

• On the basis of technology, the low-fidelity simulators segment led the market in terms of revenue in 2022.
• Depending on end user, the hospital segment was the major revenue contributor in 2022.
• Region wise, North America generated the highest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.