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Pulished Date April, 2021
ID: 11451
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Latin America Healthcare / Medical Simulation Market Analysis Report - Segmented By Products & Services, End-User, and Country (Brazil, Mexico, Argentina, Chile and Rest of Latin America) - Industry Size, Share, Trends & Growth Forecast (2021 to 2026)

Pulished: April, 2021
ID: 11451
Pages: 100

Latin America Medical Simulation Market Size (2021 to 2026)

The Latin America Medical Simulation Market size is forecasted to register a CAGR of 11.92% during the forecast period.

Rising usage of various healthcare apps, growing demand for minimally invasive procedures, and the increasing number of technological advancements and medical innovations are expected to accelerate the growth of the medical simulation market in Latin America. Additionally, factors such as the growing focus on medical practitioners' training and increasing adoption of multidisciplinary approaches in healthcare simulation are predicted to favor the market.

Growing awareness regarding simulation education and training in Latin American countries and a growing focus on patient safety are favorable signals to the market's growth rate. In addition, the rise in R&D activities, quick patient recovery using medical simulation, growing prevalence of medical error, and increased preference for animated and web-based simulation are estimated to support the growth rate of the Latin American medical simulation market.

Growing attention to patient safety is further accelerating the Latin American medical simulation market growth. Simulation in healthcare creates a safe learning environment that allows researchers and practitioners to test new clinical processes and improve individual and team skills before meeting with patients. Simulation has the potential to improve healthcare safety by enabling healthcare professionals to gain valuable experience in various clinical settings without putting patients at risk. The Agency for Healthcare Research and Quality (AHRQ) supports simulation research through its Patient Safety Program; the AHRQ funded 11 multi-year demonstration grants to evaluate the use and effectiveness of various simulation approaches and their role in improving safety quality of health service delivery. Limited access to living patients and a revolution in medical technology further increase the global medical simulation market during the forecast period.

However, high costs associated with medical simulation devices are expected to restrict the market growth in Latin America. In addition, with high unmet needs and compliance needs, the software and set-ups are diminishing the market growth. As per the Healthcare Information and Management Systems Society (HIMSS) survey, the less availability of experienced healthcare professionals in Latin America is one major factor restraining the market growth.

Impact of COVID-19 on the Latin American Medical Simulation Market:

The COVID-19 pandemic has put enormous pressure on health systems worldwide by increasing the demand for health professionals. With the COVID-19 epidemic worldwide, the need to study pathology and generalized health outcomes associated with the virus is the main concern, which is why the medical education industry is extremely unwell if online courses are in progress. However, this creates a loss of collaborative experiences that can significantly harm the health education industry, hampering demand for medical simulation products and services around the world. However, the high cost of setting up a medical simulation is still an important limiting factor.

This market research report on the Latin America medical simulation market has been segmented and sub-segmented into the following categories.

By Products & Services:

  • Healthcare Anatomical Models
  • Web-Based Simulators
  • Healthcare Simulation Software
  • Simulation Training Services

By End-User:

  • Academic institutes
  • Military organizations
  • Hospitals
  • Others

By Country:

  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America

In Latin America, Brazil and Mexico are expected to account most significant share. The growing healthcare expenses, rising medical tourism, and growing aging population assist the medical simulation market growth in Latin America.

A plethora of local vendors and international companies provide medical simulation services in the Latin American region. Still, given low government interest and Mexico's socio-economic structure, moderate growth is expected in its medical simulation market.

Several simulation facilities, programs, and research projects have recently emerged or are underway outside developed countries, such as Brazil. In addition to developed countries, many simulation programs, facilities, and research projects are underway in developing countries, such as Brazil. Israelita Albert Einstein Hospital, for example, is one of the most important simulation centers in Brazil that uses a combination of standardized patient, mannequin-based simulation, and virtual reality or computer simulators. To promote the development of simulation, some companies favor organizing affiliate conferences in the country to promote the development of simulation. In recent years, some initiatives have been taken, focused on the study of dental cavity preparation in operative dentistry laboratories. Several companies provide simulation design services in Brazil; these will facilitate the market's growth during the forecast period.

In 2018, Costa Rica Received Latin America’s First Mobile Simulation Training Center to provide medical professionals, students, and other community members with state-of-the-art simulation training and natural world emergency support.

KEY MARKET PLAYERS:

A few of the prominent companies operating in the Latin American medical simulation market profiled in this report are CAE Inc., 3d Systems, Laerdal Medical, Gaumard Scientific Company, Kyoto Kagaku, Limbs & Things, Mentice Ab, Simulab Corporation, Simulaids, Intelligent Ultrasound Group Plc, Operative Experience, Inc., Surgical Science Sweden AB, Cardionics Inc., Virtamed AG, Synbone AG, Vrmagic Holding AG., Ossimtech, HRV Simulation, Synaptive Medical, and Inovus Medical.

  1. INTRODUCTION
    1. Market Definition
    2. Study Deliverables
    3. Base Currency, Base Year, and Forecast Periods
    4. General Study Assumptions
  2. RESEARCH METHODOLOGY
    1. Introduction
    2. Research Phases
      1. Secondary Research
      2. Primary Research
      3. Econometric Modelling
      4. Expert Validation
    3. Analysis Design
    4. Study Timeline
  3. Report Overview
    1. Executive Summary
    2. Key Inferences
  4. Market Dynamics
    1. Impact Analysis
      1. Drivers
      2. Restraints
      3. Opportunities       
    2. Regulatory Environment
    3. Technology Timeline & Recent Trends
  5. Competitor Benchmarking Analysis
    1. Key Player Benchmarking                    
      1. Market share analysis      
      2. Products/Service
      3. Regional Presence               
    2. Mergers & Acquisition Landscape                     
    3. Joint Ventures & Collaborations
  6. MARKET SEGMENTATION
    1. By-Products and Services
      1. Healthcare Anatomical Models
      2. Web-Based Simulators
      3. Healthcare Simulation Software
      4. Simulation Training Services
      5. Y-o-Y Growth Analysis, By Products and Services
      6. Market Attractiveness Analysis, By Products and Services
      7. Market Share Analysis, By Products and Services
    2. By End-User
      1. Academic institutes
      2. Military organizations
      3. Hospitals
      4. Others
      5. Y-o-Y Growth Analysis, By End-User
      6. Market Attractiveness Analysis, By End-User
      7. Market Share Analysis, By End-User
  7. GEOGRAPHICAL ANALYSIS
    1. Introduction
      1. Regional Trends
      2. Impact Analysis
      3. Y-o-Y Growth Analysis
      4. Market Attractiveness Analysis
      5. Market Share Analysis
    2. Latin America
      1. Introduction
      2. Mexico
      3. Brazil
      4. Argentina
      5. Chile
      6. Rest of Latin America
  8. STRATEGIC ANALYSIS
    1. PESTLE analysis
      1. Political
      2. Economic
      3. Social
      4. Technological
      5. Legal
      6. Environmental
    2. Porter’s Five analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Consumers
      3. The threat of New Entrants
      4. The threat of Substitute Products and Services
      5. Competitive Rivalry within the Industry
  9. MARKET LEADERS' ANALYSIS
    1. CAE Inc.
      1. Overview
      2. Products
      3. Financials (subjected to availability based on company type)
      4. Recent Developments
      5. SWOT analysis
      6. Analyst View
    2. 3d Systems
    3. Laerdal Medical
    4. Gaumard Scientific Company
    5. Kyoto Kagaku
    6. Limbs & Things
    7. Mentice Ab
    8. Simulab Corporation
    9. Simulaids
    10. Intelligent Ultrasound Group Plc
    11. Operative Experience, Inc.
    12. Surgical Science Sweden AB
    13. Cardionics Inc.
    14. Virtamed AG
    15. Synbone AG
    16. Vrmagic Holding AG.
    17. Ossimtech
    18. HRV Simulation
    19. Synaptive Medical
    20. Inovus Medical
  10. COMPETITIVE LANDSCAPE
    1. Market share analysis
    2. Merger and Acquisition Analysis
    3. Agreements, Collaborations, and Joint Ventures
    4. New Product Launches
  11. MARKET OUTLOOK AND INVESTMENT OPPORTUNITIES
  12. APPENDIX
    1. List of Tables

List of Figures

  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
  • Segment-level analysis in terms of products & services and end-users along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market, which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Latin America Healthcare / Medical Simulation Market, By Products & Services, From 2021 to 2026 (USD Million)
  2. Latin America Healthcare Anatomical Models Market, By Region, From 2021 to 2026 (USD Million)
  3. Latin America Web-Based Simulators Market, By Region, From 2021 to 2026 (USD Million)
  4. Latin America Healthcare Simulation Software Market, By Region, From 2021 to 2026 (USD Million)
  5. Latin America Simulation Training Services Market, By Region, From 2021 to 2026 (USD Million)
  6. Latin America Healthcare / Medical Simulation Market, By End-User, From 2021 to 2026 (USD Million)
  7. Latin America Academic institutes Market, By Region, From 2021 to 2026 (USD Million)
  8. Latin America Military organizations Market, By Region, From 2021 to 2026 (USD Million)
  9. Latin America Hospitals Market, By Region, From 2021 to 2026 (USD Million)
  10. Latin America Others Market, By Region, From 2021 to 2026 (USD Million)
  11. Brazil Healthcare / Medical Simulation Market, By Products & Services, From 2021 to 2026 (USD Million)
  12. Brazil Healthcare / Medical Simulation Market, By End-User, From 2021 to 2026 (USD Million)
  13. Argentina Healthcare / Medical Simulation Market, By Products & Services, From 2021 to 2026 (USD Million)
  14. Argentina Healthcare / Medical Simulation Market, By End-User, From 2021 to 2026 (USD Million)
  15. Mexico Healthcare / Medical Simulation Market, By Products & Services, From 2021 to 2026 (USD Million)
  16. Mexico Healthcare / Medical Simulation Market, By End-User, From 2021 to 2026 (USD Million)
  17. Rest of Latin America Healthcare / Medical Simulation Market, By Products & Services, From 2021 to 2026 (USD Million)
  18. Rest of Latin America Healthcare / Medical Simulation Market, By End-User, From 2021 to 2026 (USD Million)

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