Market Buzz- Offers the latest trends in the medical simulation market across the globe in terms of research and developments, business strategies adopted by key players, & future prospects for stakeholders.
Geographically, the global medical simulation market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America commanded largest share of the market. Asia-Pacific and Latin America are poised to register highest growth rates in this market mainly attributed to the untapped market potential of these regions and extensive customer base due to rising base of aging population, rising prevalence of various disorders, and demand for surgeries. The market in these two regions will be driven by developing countries such as India, China, South Korea, Singapore, Brazil, and Mexico.
Global Healthcare/Medical Simulation Market is segmented as:
In 2015, North America was the major market for medical simulation products and services, followed by Europe and Asia-Pacific. The highest market share of North America and European regions is primarily attributed to the presence and expansion of major medical simulation companies through acquisitions which has improved the accessibility of medical simulation products and services in this region. However, the future growth of the medical simulation market will be driven by the Asia-Pacific and Latin American regions. This is mainly attributed to the continuous efforts of Asian economies toward the development of the healthcare sector in this region. These economies have modified regulations and monitored the implementation of procedures, policies, and guidelines to promote innovation and commercialization. This is attracting many homegrown entrepreneurs as well as global leaders to the region. The increasing number of hospitals, academic institutions, and medical devices propel the market for medical simulation. Moreover, increasing focus on medical education, training, and research in India and China showcases great potential for the medical simulation market in this region.