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:
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.