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Pulished Date May, 2021
ID: 11653
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U.S. Healthcare / Medical Simulation Market Analysis Report - Segmented By Products & Services, End-User, and Country - Industry Size, Share, Trends & Growth Forecast (2021 to 2026)

Pulished: May, 2021
ID: 11653
Pages: 100

U.S. Medical Simulation Market Size (2021 to 2026)

The U.S. Medical Simulation Market size is estimated to hike at a healthy CAGR during the forecast period.

Rising healthcare costs and increasing demand for minimally invasive treatments are two major growth drivers in the U.S. Medical simulation market. This growth is primarily fueled by medical training institutes and hospitals that are always working to reduce the danger of training on live patients, standardize their teaching methods, and expand the time available for trainees to practice diverse medical procedural skills. According to the Institute of Medicine, medical errors during treatment cause between 46,000 and 98,000 deaths globally each year. This has increased the need for medical simulation as it allows physicians and surgeons to understand procedures better and prevent potentially fatal errors during treatment or surgery.

Additionally, factors such as growing concern about patient safety, technological advancements in medical simulations, and increased adoption of animated and web-based simulations, advantages such as specialized training in both complicated and standard situations are expected to propel the U.S. Medical simulation market forward during the forecast period. The increasing importance of various health apps, medical visualization, surgical robots, the rising demand for minimally invasive surgical procedures, and preventive medicines encourage the increased adoption of advanced healthcare simulation technologies. As a result, the U.S. Medical Simulation market's growth is expected to accelerate. The scarcity of healthcare professionals, growing awareness of simulation education in developing countries, and technological advances are expected to generate lucrative opportunities for market players. Medical simulation, especially laparoscopy and robotic surgery, is replacing open surgery among surgeons. However, effective medical simulation procedures, especially laparoscopy and robotic surgery, necessitate skilled surgeons.

The U.S. medical simulation market's growth is expected to be restrained by the high cost of devices, set-ups, and software, as well as high unmet needs and compliance issues. Hospitals employing simulation goods and services face issues such as a lack of financing, fewer times for simulation activities, release from the work environment, and a lack of management enthusiasm. During the projection period, operational challenges are projected to impede market growth to some extent.

COVID-19 Impact on U.S. Medical Simulation Market:

Since the COVID-19 virus outbreak in December 2019, the disease has spread to practically every country globally, causing the World Health Organization to declare it a public health emergency. COVID-19 has had a significant effect on medical education worldwide, resulting in the cancellation of courses, tests, clinical rotations, and the temporary closing of medical schools during lockdowns. The simulated representation of a clinical condition to better understand and execute a complicated real-world procedure is called medical simulation. During the pandemic, virtual simulation tools are likely to improve and develop procedural and patient care skills. Furthermore, the virtual medical simulation market is expected to expand due to an increase in remote learning through screen-based simulation, augmented reality, mixed reality, blended or extended reality, and virtual reality. For these reasons, the medical simulation market has positive growth during this pandemic. 

This market research report on the U.S. 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:

  • The United States

The U.S. has the highest penetration of medical simulators. The primary elements driving growth in this region are technological advancements and the government's ongoing attempts to offer the greatest healthcare facilities for its people. The growing geriatric population in the United States, as well as the rising number of hospital admissions, is expected to drive demand for patient safety and correct treatment, which would likely complement the regional medical simulation market's growth. Many national programs in the United States have focused on patient safety and medical errors since simulation have the ability to alter health care and address patient safety problems if appropriately used and incorporated into educational and organizational development processes.

KEY MARKET PLAYERS:

3D Systems, Canadian Aviation Electronics (CAE) Inc., Kyoto Kagaku Co. Ltd, Laerdal Medical, Limbs & Things Ltd, Mentice AB, and Simulab Corporation are noteworthy players operating in the U.S. medical simulation market.

  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. United States
  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. Threat of New Entrants
      4. 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
    2. List of Figures
  • 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. U.S. Healthcare / Medical Simulation Market, By Products & Services, From 2021 to 2026 (USD Million)
  2. U.S. Healthcare Anatomical Models Market, By Region, From 2021 to 2026 (USD Million)
  3. U.S. Web-Based Simulators Market, By Region, From 2021 to 2026 (USD Million)
  4. U.S. Healthcare Simulation Software Market, By Region, From 2021 to 2026 (USD Million)
  5. U.S. Simulation Training Services Market, By Region, From 2021 to 2026 (USD Million)
  6. U.S. Healthcare / Medical Simulation Market, By End-User, From 2021 to 2026 (USD Million)
  7. U.S. Academic institutes Market, By Region, From 2021 to 2026 (USD Million)
  8. U.S. Military organizations Market, By Region, From 2021 to 2026 (USD Million)
  9. U.S. Hospitals Market, By Region, From 2021 to 2026 (USD Million)
  10. U.S. Others Market, By Region, From 2021 to 2026 (USD Million)

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