The US medical simulation market is estimated to grow modestly at a CAGR of around 10.4% during the forecast period. The increasing demand for the display of information and real-time human interaction with digital devices and objects in various sectors such as healthcare, automotive, gaming & entertainment industries, and pico-projectors has been witnessed in the country. The introduction of virtual reality news is expected to augment the advancement of virtual technology in sectors such as healthcare. In addition, the country is regarded as the highest spending country in healthcare across the globe.
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A significant rise in the number of new medical simulation institutes has been observed in the past 20 years. Bristol Medical Simulation Centre estimates that more than 400 institutes have been developed in the last 20 years in the country. According to the Centers for Medicare & Medicaid Services (CMS), US healthcare spending increased 4.3% in 2016 and reaching $10,348 per person or $3.3 trillion. In addition, as a portion of the nation’s GD), the US healthcare spending held 17.9% in 2016. As per their estimate, healthcare spending is anticipated to rise at an average rate of 5.5% every year for the period (2017-2026) and to reach $5.7 trillion by 2026. The major factor affecting the growth of healthcare spending in the US includes rising prices of medical goods & services and increasing geriatric population.
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The companies which are contributing to the growth of the US medical simulation market include CAE Healthcare, Charles River Analytics Inc., Simulaids Inc., Flexsim Software Products, Inc., and 3D System, Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, in October 2018, Moog Inc. had launched a new version of the D680 Proportional Valve Series in order to strengthen its product base. In September 2018, the company had announced an exclusive distribution agreement with MHD Rockland to manage the operations for various equipment for international P-3 Orion operators and related variants.
Market Segmentation
US Medical Simulation Market by Products and Services
- Web-based Simulation
- Model-based Simulation
- Simulation Training Services
US Medical Simulation Market by Fidelity
- Low Fidelity
- Medium Fidelity
- High Fidelity
US Medical Simulation Market by End-Users
- Academic Institutes and Research Centers
- Military Organizations
- Hospitals
Company Profiles
- 3D System, Inc.
- Anesoft Corp.
- B-Line Medical
- CAE Healthcare
- Cardionics
- Charles River Analytics Inc.
- Education Management Solution, LLC
- Flexsim Software Products, Inc.
- IngMar Medical, Ltd.
- Innovative Tactical Training Solutions, Inc.
- Moog Inc.
- Simulaids Inc.
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