Virtual Patient Simulation Market 2014-2019: A 21.1% CAGR Forecast
Meticulous Research projected in July 2014 that the global virtual patient simulation market would reach $508.7 million by 2019, a compound annual growth rate of 21.1 percent. The forecast period ended in 2019, and the report is still listed for sale.
Updated
What the report covered
The report, Global Virtual Patient Simulation Market Outlook: 2014-2019, defines virtual patient simulation (VPS) as computer-based simulation for healthcare education. Growth was tied to rising demand for training healthcare professionals and to the chance for students to practice in a safe setting. Individual practitioners were also expected to rehearse complex surgeries on VPS before operating on patients.
It segmented the market by products, technology, geography and end users. Products included simulation platforms and serious games, along with allied products such as patient simulators and task trainers. The technologies analyzed were visual techniques, haptic technology, virtual reality, tracking techniques and modeling techniques. Geographies were North America, Europe, Asia Pacific and the rest of the world, analyzed down to country level.
Key figures of the 2014 forecast
| Item | Figure |
|---|---|
| Market size by 2019 | $508.7 million |
| Growth rate, 2014 to 2019 | 21.1% CAGR |
| Largest region | North America |
| Largest end-user segment in 2014 | Academia, 58.6% share |
Projections as published by Meticulous Research in 2014; they are forecasts and not measured sales.
Regions, end users and vendors
North America was expected to be the largest market, followed by Europe and Asia Pacific, partly because of the number of major vendors there and the availability of funding. Academia was the largest end-user group, estimated at 58.6 percent in 2014, which the report tied to government funding and a growing focus on training medical students with advanced technology.
The named leading vendors were Therasim Inc. (U.S.), Simbionix USA Corporation (U.S.), B-Line Medical (U.S.) and Surgical Science Sweden AB (Sweden). Other players included Mentice AB (Sweden), CAE Healthcare (Canada), Dassault Systemes (France), Surgical Theatre (U.S.), Decision Simulation (U.S.), VirtaMed (Switzerland), Simulated Surgical Systems (U.S.) and Voxel-Man (Germany). Examples of products discussed range from a serious game for total knee arthroplasty and a portable EBUS-TBNA trainer developed by CHEST and Simbionix to the LapSim Basic Skills Core Package, the HumanSim platform and CliniSpace.
What is true today
Meticulous Research is a market research firm whose site says it has covered more than 3,000 markets from 2010 onward. Its product page for the report, now titled Virtual Patient Simulation Market, shows a July 2014 publication date, 270 pages, report ID MRHC-104167 and a PDF and Excel format. The page says the market size tables are in the full report and offers a free sample. The old 2014 to 2019 page address no longer loads, and the 2014 to 2019 window itself ended in 2019, so the dollar figure is a past projection.
Questions about the report
What did Meticulous Research forecast for virtual patient simulation?
It forecast a global market of $508.7 million by 2019, growing at a compound annual rate of 21.1 percent from 2014.
Who was the largest end user of virtual patient simulation in 2014?
Academia, estimated at 58.6 percent of the market in 2014, helped by government funding and a focus on training medical students.
Is the report still available?
Meticulous Research still lists it as Virtual Patient Simulation Market, published July 2014, 270 pages, available as PDF and Excel.