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Healthcare Simulators Market Size & Share to Surpass $7.5 Billion by 2030 | Vantage Market Research

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WASHINGTON, July 20, 2023 (GLOBE NEWSWIRE) — The Global Healthcare Simulators Market is valued at USD 2.15 Billion in 2022 and is expected to reach USD 7.5 Billion by 2030 at a CAGR of 20% over the forecast period 2023-2030.

The Healthcare Simulators market has grown due to the increased emphasis on patient safety and care quality. Healthcare institutions and organizations understand the importance of giving their staff thorough and valuable training to guarantee the best possible patient outcomes. Healthcare practitioners can address potential mistakes in a controlled environment while practicing crucial processes and improving teamwork and communication skills. Simulation leads to improved patient safety and general healthcare quality by raising the competency and self-assurance of healthcare personnel.

The desire for affordable training solutions, improvements in simulation technology, and a focus on patient safety and quality of treatment are driving the significant expansion of the Healthcare Simulators industry. We may anticipate more innovations and breakthroughs in simulation techniques as the market changes, providing healthcare workers with increasingly immersive and realistic training experiences. Healthcare Simulators is positioned to play a significant part in the future of medical education and training due to its ability to improve healthcare outcomes and increase patient safety.

The report thoroughly analyzes international producers and suppliers and their current situation and prospects. It also details the global drivers of the demand for Healthcare Simulators, including rising investment requirements, developing technology, and new laws.

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Market Overview

According to Vantage Market Research, some key factors are anticipated to accelerate the Healthcare Simulators’ market growth over the forecast period. One of the main factors favorably affecting the demand for Healthcare Simulators is the growing need for effective and safe medical training.

We forecast that the hospital’s category in Healthcare Simulators market sales will account for more than 30% of total sales by 2030 due to growing demand for medical education and training among healthcare professionals. Hospitals use Healthcare Simulators to train and educate medical professionals, helping them acquire the necessary skills and experience to provide high-quality medical care.
North America dominates the market, and this trend of dominance will continue throughout the projection period. Factors like increasing demand for patient safety, rising healthcare expenditure, and rapid technological advancements in the region’s healthcare sector drive increased demand for Healthcare Simulators in this region.

Market Dynamics

Advancements in Technology to Drive the Market
The market for Healthcare Simulators is expanding as a result of technological advancements. The realism, interactivity, and efficiency of Healthcare Simulatorss have been considerably improved by technological advancements, including Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), haptic feedback systems, and high-fidelity manikins. With the aid of these technologies, healthcare workers can participate in immersive, practical training exercises that closely resemble real-world patient scenarios. Additionally, by adapting simulations to specific learner needs, the combination of artificial intelligence and machine learning algorithms enables personalized and adaptable learning. The Healthcare Simulators market will continue to advance due to technological advancements, providing increasingly more sophisticated and realistic training options that contribute to better patient outcomes and improved healthcare education.

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Growing Focus on Cost-Effective Training to Promote Market Growth
The increasing emphasis on affordable training options is one major key factor fueling the growth of the Healthcare Simulators market. Healthcare organizations and institutions are becoming more aware of the economic advantages of simulation-based training over conventional techniques. Inexpensive equipment is optional, problems and errors are less likely, and simulations provide a controlled, repeated learning environment. Additionally, the versatility and scalability of simulation training enable the concurrent training of more healthcare personnel, maximizing the use of available resources. Healthcare Simulators is seeing substantial market expansion as institutions look to get the most out of their training expenditures while enhancing patient safety and overall healthcare results. Healthcare Simulators provides a cost-effective alternative while maintaining high-quality education and training.

Top Players in the Global Healthcare Simulators Market

  • 3D Systems (U.S.)
  • CAE (Canada)
  • Cardionics Inc. (U.S.)
  • Gaumard Scientific Company (U.S.)
  • Kyoto Kagaku (Japan)
  • Laerdal Medical (Norway)
  • Limbs & Things (UK)
  • Medaphor (UK)
  • Mentice AB (Sweden)
  • Operative Experience Inc. (U.S.)
  • Simulab Corporation (U.S.)
  • Simulaids (UK)
  • SynBone AG (Switzerland)
  • VirtaMed AG (Switzerland)
  • VRMagic Holding AG (Germany)

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Top Trends in Global Healthcare Simulators Market

  • One trend that Vantage Market Research (VMR) expects to see in the Healthcare Simulators industry is the growing emphasis on competency-based education and training. The shift towards competency-based education and training in healthcare drives the demand for simulators that can provide objective assessments and feedback to help healthcare professionals improve their skills. Simulation-based training helps evaluate and improve competencies in a controlled and realistic environment.
  • Another trend that VMR predicts will continue in the Healthcare Simulators industry is growing awareness of patient safety. Rising awareness of patient safety drives the demand for Healthcare Simulators, which can help reduce medical errors and improve patient outcomes.
  • Medical simulation increasingly depends on personalized learning and adaptive simulation. Adaptive simulation platforms use artificial intelligence and machine learning algorithms to customize training scenarios and feedback for each student. This individualized approach improves performance, engagement, and skill learning.

Top Report Findings

  • Based on the Product, the anatomical model’s category holds most of the Healthcare Simulators market’s revenue. Factors include the increasing emphasis on patient safety and the need for effective medical education and training, driving its significant market share.
  • Based on Product Type, the hospitals market category dominated the Healthcare Simulators market. This trend is anticipated to continue because of its growing demand for medical education and training among healthcare professionals.

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Anatomical Models Category in Healthcare Simulators Market to Generate a Considerable Portion of the Total Segment Revenue
Healthcare Simulators is an expensive investment. Vantage Market Research has analyzed the market for Healthcare Simulators to understand its current state and potential future growth factors. For better understanding, based on product type, the Healthcare Simulators market is divided into Medical Simulation Software, Anatomical Models, Web-Based Simulation, Task Trainers, and Others.

During the forecast period, the market for anatomical models is anticipated to experience the highest CAGR due to the increasing emphasis on patient safety and the need for effective medical education and training. Anatomical models are widely used in medical schools, hospitals, and other healthcare institutions to teach anatomy, physiology, pathology, and other medical disciplines.

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On the other hand, the task trainer category is anticipated to grow significantly over the forecast period because of the increasing demand for procedural training and the need for healthcare professionals to improve their technical skills. These simulators provide a hands-on approach to learning and practicing skills, allowing healthcare professionals to improve their competency and confidence before performing procedures on actual patients.

Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Healthcare Simulators Market Forecast Report (2023-2030).             

Global Healthcare Simulators Market Segmentation

By Product Type

  • Medical Simulation Software
  • Anatomical Models
  • Web-based Simulation
  • Task Trainers
  • Other Product Types

By End-User

  • Hospital
  • Academic Institution
  • Military Service
  • Emergency Service
  • Other End Users

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Scope of the Report:    

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Report Attributes Details
Market Size in 2022 USD 2.15 Billion
Revenue Forecast by 2030 USD 7.5 Billion
CAGR 20% from 2023 to 2030
Base Year 2022
Forecast Year 2023 to 2030
Key Players 3D Systems, CAE, Cardionics Inc., Gaumard Scientific Company, Kyoto Kagaku, Laerdal Medical, Limbs & Things, Medaphor, Mentice AB, Operative Experience Inc., Simulab Corporation, Simulaids, SynBone AG, VirtaMed AG, VRMagic Holding AG
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We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.

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Juniper Biologics Expands Distribution Rights for Caris Life Sciences’ Molecular Profiling in the Middle East and Africa

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SINGAPORE, June 23, 2024 /PRNewswire/ — Singapore-headquartered Juniper Biologics Pte Ltd (Juniper), a leading healthcare and pharmaceuticals company focused on commercialising novel therapies, has been granted distribution rights for Caris Life Sciences (Caris)’ solid tumour molecular profiling services in the Middle East and Africa (MEA). Caris is the leading next-generation AI TechBio company and precision medicine pioneer. This expansion follows the initial January 2023 distribution rights partnership with Caris for the same services in Southeast Asia (SEA). Juniper is now poised to offer Caris’ advanced solid tumour molecular profiling services across a broader region, enhancing patient access to personalised treatment options.

Caris’ best-in-class molecular profiling, combined with proprietary artificial intelligence, provides more precise and individualized cancer treatments. This profiling approach assesses DNA, RNA, and proteins, revealing a molecular blueprint that identifies treatment options specific to each patient’s cancer. Caris has developed the world’s largest and most informative platform for cancer analysis, featuring the most advanced tumour profiling available, including Whole Exome and Whole Transcriptome Sequencing across over 23,000 genes. By analysing biomarkers found in tumours, Caris helps healthcare providers make informed choices for personalised care.
Juniper Biologics is committed to driving positive change in the pharmaceutical industry on a global scale. Aligned with its mission to deliver transformative therapies through bold scientific innovation, Juniper’s collaboration with Caris will enhance access to quality treatments for patient communities in the Middle East and Africa. Juniper continues to pursue impactful partnerships aimed at uplifting communities and individuals, especially in underserved regions where access to advanced therapies is limited.
Raman Singh, Founder and Chief Executive Officer (CEO) of Juniper Biologics, spoke on the successful acquisition: “Caris molecular profiling bridges the gap between tumour biology and cancer treatments, guiding precision medicine through personalised treatment selection for physicians and their patients. Our exclusive partnership with Caris Life Sciences to distribute this service in the Middle East and Africa will significantly empower healthcare professionals to make informed decisions for their patients. This service enables oncologists to recommend highly personalised treatments that specifically target a patient’s cancer, thereby improving and expanding their care options. This targeted approach offers patients, particularly those with rare or aggressive cancers, an improved quality of life.”
“Caris is pleased to expand the distribution of our molecular profiling services in the Middle East and Africa through our partnership with Juniper Biologics,” said Caris President David Spetzler, MS, PhD, MBA. “This collaboration aligns with Caris’ goal of enabling clinicians worldwide to make the best individualised treatment choices for their patients and ultimately helping to improve patient outcomes.”
This partnership marks a significant milestone in expanding access to personalised medicine and advanced cancer treatment technologies in the Middle East and Africa.
About Juniper Biologics
Backed by The Sylvan Group, Juniper Biologics is a science-led healthcare company focused on delivering novel therapies to improve the health and quality of life of patients, by building a growing presence in Oncology and Oncology Supportive Care, Rare/Orphan Diseases and Gene Therapy. It was founded on a vision to provide treatments for unmet medical needs focused on specialist therapy areas in which it can make the most difference. Through bold and transformative science, Juniper Biologics is committed to creating possibilities that have the potential to become the next generation of life-changing medicines for patient communities in China, Japan, Asia, Australia, New Zealand, Middle East, and Africa.
Website: https://www.juniperbiologics.com/
LinkedIn: https://www.linkedin.com/company/juniper-biologics
About Caris Life SciencesCaris Life Sciences® (Caris) is the leading next-generation AI TechBio company and precision medicine pioneer actively developing and delivering innovative solutions to revolutionize healthcare and improve the human condition using molecular science and AI. Through comprehensive molecular profiling (Whole Exome and Whole Transcriptome Sequencing) and the application of advanced AI and machine learning algorithms, Caris has created the large-scale, multi-modal database and computing capability needed to analyse and unravel the molecular complexity of disease. This convergence of sequencing power, big data, and AI technologies provides an unmatched platform to deliver the next generation of precision medicine tools for early detection, diagnosis, monitoring, therapy selection, and drug development.
Headquartered in Irving, Texas, Caris has offices in Phoenix, New York, Cambridge (MA), Tokyo, Japan and Basel, Switzerland. Caris or its distributor partners provide services in the U.S., Europe, Asia, and other international markets. To learn more, please visit CarisLifeSciences.com.
 

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2024 Tang Prize Laureates Announced: Six Global Visionaries to Be Honored in Taiwan This September

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TAIPEI, June 22, 2024 /PRNewswire/ — The prestigious 2024 Tang Prize Laureates have been announced, recognizing outstanding contributions in various fields. The Tang Prize in Sustainable Development is awarded to American chemist Omar M. Yaghi. In the field of Biopharmaceutical Science, the prize is jointly awarded to Joel F. Habener, Svetlana Mojsov, and Jens Juul Holst. University Professor Emeritus Hsu Cho-yun of the University of Pittsburgh and Academician of Academia Sinica is honored with the Tang Prize in Sinology. Mary Robinson, a former lawyer and senator, former president of Ireland, former United Nations High Commissioner for Human Rights, and current Chair of The Elders, is awarded the Tang Prize in Rule of Law. These six distinguished laureates will be formally honored at an upcoming ceremony to be held in Taiwan this September.

The Tang Prize in Sustainable Development is awarded to Omar M. Yaghi, for his extraordinary contributions to sustainable development, particularly his pioneering work with Metal-Organic Frameworks (MOFs) and other ultra-porous frameworks that can be tailored for carbon capture, hydrogen and methane storage, and water harvesting from desert air. His research has revolutionized the field of chemistry and materials science, offering transformative solutions for sustainable development through the creation of customizable materials with exceptional properties.
Professor Joel F. Habener, Professor Svetlana Mojsov, and Professor Jens Juul Holst have been jointly awarded the Tang Prize in Biopharmaceutical Science, for the discovery of GLP-1 (7-37) as an insulinotropic factor and the development of GLP-1 (7-37)-based anti-diabetic and anti-obesity drugs.
University Professor Emeritus Hsu Cho-yun is awarded the Tang Prize in Sinology for his exceptional contributions to the field of Sinology. Professor Hsu’s illustrious academic career has been distinguished by his holistic approach to the study of ancient Chinese history, seamlessly integrating an exploration of cultural and intellectual exchanges between China and the world. With his profound erudition and unwavering public spirit, Professor Hsu embodies the quintessential Sinologist, possessing both a deep historical sensibility and a broad, worldly vision.
The Tang Prize in Rule of Law is awarded to Professor Mary Robinson, for her “powerful advocacy for the most disadvantaged in different spheres, including gender equality, poverty alleviation, human rights, and climate justice.” In particular, the Selection Committee noted that her “passionate endeavors demonstrated an effective combination of legal acumen and practical solutions.” The Committee also noted that “from the national to the global stage, legal and political, she has innovatively transformed and expanded the various positions in which she has served to strengthen the rule of law.”
About the Tang Prize
Since the advent of globalization, mankind has been able to enjoy the convenience brought forth by the advancement of human civilization and science. Yet a multitude of challenges, such as climate change, the emergence of new infectious diseases, wealth gap, and moral degradation, have surfaced along the way. Against this backdrop, Dr. Samuel Yin established the Tang Prize in December 2012. It consists of four award categories, namely Sustainable Development, Biopharmaceutical Science, Sinology, and Rule of Law. Every other year, four independent and professional selection committees, comprising many internationally renowned experts, scholars, and Nobel winners, choose as Tang Prize laureates people who have influenced and made substantive contributions to the world, regardless of ethnicity, nationality or gender. A cash prize of NT$50 million (approx. US$1.7 million) is allocated to each category, with NT$10 million (approx. US$ 0.35 million) of it being a research grant intended to encourage professionals in every field to examine mankind’s most urgent needs in the 21st century, and become leading forces in the development of human society through their outstanding research outcomes and active civic engagement.
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Key Tech Stocks Optimizing AI Usability and Infrastructure for a $20-Trillion Future

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USA News Group CommentaryIssued on behalf of Avant Technologies Inc.
VANCOUVER, BC, June 21, 2024 /PRNewswire/ — USA News Group – Several big winners have been made already in the ongoing artificial intelligence (AI) revolution. However, there’s clearly none bigger than chipmaking giant NVIDIA Corporation (NASDAQ: NVDA), which just surpassed two of its big tech peers to become the most valued publicly-traded company on the planet. To put it into perspective, NVIDIA’s market cap is currently larger than each of Europe’s largest stock markets, while lucky investors who bet $1000 on NVIDIA stock just ten years ago would be sitting on an extra $297,600 today. Now as analysts are predicting that AI and cryptocurrency could inject $20 trillion into the global economy by 2030, the best minds in the tech sector are moving their pieces into place to secure their piece of the pie. Behind the scenes, tech stocks are optimizing the infrastructure, security, and usability of AI, including new developments from Avant Technologies Inc. (OTCQB: AVAI), International Business Machines Corporation (IBC) (NYSE: IBM), Cloudflare, Inc. (NYSE: NET), and Accenture plc (NYSE: ACN).

Known as a pioneer in the sector for its innovative AI technology, Avant Technologies Inc. (OTCQB: AVAI) has improved its main product, Avant AI™. This sophisticated AI system, celebrated for its advanced machine and deep learning capabilities, is adaptable across a wide range of industries.
In a recent strategic development, Avant has signed a Binding Letter of Intent (BLOI) with Flow Wave, LLC (FW), a Florida-based leader in immersible computer server technology. This agreement allows Avant to acquire up to 50 cutting-edge immersible computer servers from FW in a deal valued at $50 million.
“Avant’s revolutionary AI software platform is poised to transform the landscape of data center management,” said William Hisey, CEO of Avant.  “By integrating proprietary machine learning algorithms with open-source innovations into these servers, Avant is developing a highly intelligent system designed to optimize resource allocation, enhance performance, and drive unprecedented levels of efficiency and automation. This marks the beginning of a new era for Avant Technologies, positioning us at the forefront of the supercomputer-driven data center industry and setting new standards for managing and storing AI applications.”
Flow Wave Immersible AI Supercomputer Servers are great for heavy AI and machine learning tasks because they have strong processing power, meaning they can analyze data faster and more efficiently. Their special cooling technology uses less energy, saving money and reducing environmental impact. The servers are also compact and easy to set up, making them ideal for data centers with limited space. Plus, their design helps them last longer and require less maintenance.
Avant plans to tackle the challenges of the digital age by buying up to 50 of these high-performance servers from Flow Wave. These servers, with their advanced cooling technology, boost performance and save energy. This deal shows Avant’s dedication to providing top-notch AI infrastructure and improving efficiency. More details about the transaction will be shared once a definitive agreement is finalized.
One of the most active tech giants in the AI space is International Business Machines Corporation (IBC) (NYSE: IBM), which recently released a new methodology through its IBM Research® wing called LAB (Large-Scale Alignment for ChatBots), through an open-source project called InstructLab with its subsidiary Red Hat®, which IBM acquired for $34 billion in 2019. The InstructLab project builds on the LAB technique for a community-driven approach to language model development through skills and knowledge training.
As well, IBM has teamed up with WPP and LinkedIn to launch a new business-to-business (B2B) solution powered by IBM’s AI and data platform watsonx, designed to reinvent how B2B markets identify and engage clients and prospects across the buying journey. WPP Open for B2B will help marketers solve complex B2B marketing challenges, accurately identify and engage buying groups, and improve clients’ return on investment.
“B2B marketers have been focused on creating truly personalized, relevant and consistent experiences for buying groups at scale for years,” said Jonathan Adashek, Senior Vice President of Marketing and Communications at IBM. “Our collaboration with WPP and LinkedIn provides real-time, actionable insights that are based on trusted data. We are excited to create and use these new, powerful and trusted AI solutions to deliver a force multiplier for B2B marketing.”
Cloud-based security solution provider Cloudflare, Inc. (NYSE: NET) recently announced the general availability of its AI Gateway platform, dubbed as a unified interface for managing and scaling the generative AI workloads of clients. Since its beta launch in September 2023, AI Gateway has handled over 500 million requests and is now ready for full client use.
The general availability release followed upon another Cloudflare announcement of a collaboration with Hugging Face, the leading open and collaborative platform for AI builders, for a one-click-simple global deployment for AI applications. With its Workers AI platform now generally available, Cloudflare became the first serverless inference partner integrated on the Hugging Face Hub for deploying models, enabling developers to quickly, easily, and affordably deploy AI globally, without managing infrastructure or paying for unused compute capacity.
“Workers AI is one of the most affordable and accessible solutions to run inference,” said Matthew Prince, CEO and co-founder, Cloudflare. “With Hugging Face and Cloudflare both deeply aligned in our efforts to democratize AI in a simple, affordable way, we’re giving developers the freedom and agility to choose a model and scale their AI apps from zero to global in an instant.”
Reporting impressive generative AI revenues in its latest Q3 2024 fiscal results has caused shares of Accenture plc (NYSE: ACN) to jump this week, reporting more than $900 million in generative AI bookings in the latest quarter alone.
“Our actions to stay laser-focused on the needs of our clients are clear in our third quarter results,” said Julie Sweet, Chair and CEO of Accenture. “We… achieved two significant milestones this quarter — with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to-date — which demonstrate our early lead in this critical technology.”
Prior to the financial report, Accenture announced its intent to acquire Italian-based network services company, Fibermind, which specializes in fiber and mobile 5G networks deployment, as well as infrastructure engineering services. Together, Accenture and Fibermind will offer clients network engineering capabilities, deep industry knowledge, and technology assets powered by automation, robotics, data and AI.
Prior to its surge into the position as the world’s most valuable publicly-traded company, NVIDIA Corporation (NASDAQ: NVDA) made a pair of announcements, further cementing its role in the AI revolution.
The first was the announcement of its NVIDIA Omniverse Cloud Sensor RTX, a set of microservices that enable physically accurate sensor simulation to accelerate the development of fully autonomous machines of every kind, allowing developers to test sensor perception and associated AI software at scale in physically accurate, realistic virtual environments prior to real-world deployment.
The second announcement was the NVIDIA AI Computing by HPE, a portfolio of AI solutions and joint go-to-market integrations that enable enterprises to accelerate adoption of generative AI, co-developed with Hewlett Packard (HP).
“Generative AI and accelerated computing are fueling a fundamental transformation as every industry races to join the industrial revolution,” said Jensen Huang, Founder and CEO of NVIDIA. “Never before have NVIDIA and HPE integrated our technologies so deeply – combining the entire NVIDIA AI computing stack along with HPE’s private cloud technology – to equip enterprise clients and AI professionals with the most advanced computing infrastructure and services to expand the frontier of AI.”
All NVIDIA AI Computing offerings by HPE will be available through a combined marketing strategy involving sales teams, channel partners, and training. This strategy includes a global network of system integrators such as Deloitte, HCLTech, Infosys, TCS, and Wipro. These integrators will assist enterprises across various industries in running complex AI workloads.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/ 
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