Market Trends of North America Medical Simulation Industry
This section covers the major market trends shaping the North America Medical Simulation Market according to our research experts:
High-fidelity Simulators Segment is Expected to Show Healthy Growth Over the Forecast Period
The high- fidelity simulators (HFS) are the latest models incorporated in computer hardware technology, which includes wireless and programmed, very realistic, full-body patient presentations. A high-fidelity manikin can be used for a variety of high-stakes learning scenarios, such as a mock code, postpartum haemorrhage, or mass casualty incident.
Currently, high-fidelity simulations are widely accepted in nursing education and are introduced into acute care to support orientation programs, continuing education, certification courses, and staff development. Hence, the requirement of realistic models to provide a better training environment is promoting the usage of high-fidelity simulators.
The Canadian Paediatric Society in its article published in March 2021 recommended the use of high-fidelity simulation team-based training to assist in training and maintaining the skills of healthcare providers (HCPs) to respond more effectively in emergencies. Such activities are expected to boost the growth of the studied segment over the forecast period.
Increasing technological advancement in high-fidelity stimulation products and product launches by the market players is expected to boost segment growth over the forecast period. For instance, in January 2022, Inovus Medical launched a new high-fidelity hysteroscopy simulator, HystAR, which combines augmented reality technology and a cloud-based learning platform with the natural haptics of its simulated tissue models to deliver highly realistic, scalable, tracked hysteroscopy skills training.
Thus, the recommendation for high-fidelity stimulation devices and technological advances is expected to boost segment growth over the forecast period.
United States is Expected to Hold a Significant Share in the Market and Expected to do Same Over the Forecast Period
Over the projected period, the United States is expected to dominate the medical simulator market. Factors such as the increasing frequency of chronic conditions that necessitate surgery, technical improvements, and the presence of key companies in this country are projected to play a significant role in expanding medical simulator devices.
Furthermore, the region's increased acceptance of minimally invasive surgeries is likely to drive growth in the medical simulation market, as simulation allows for hands-on experience with real surgical procedures. According to the research study published Journal of Obstetrics and Gynecology in November 2021, most women who have oophorectomy or ovarian cystectomy for benign reasons have minimally invasive surgery because it is associated with fewer complications than laparotomy. Thus, the benefits of minimally invasive operations over standard surgeries, as well as the increasing acceptance rate of MIS, are projected to drive demand for MIS training in healthcare, driving the growth of the studied market.
Furthermore, the country's leading players have introduced various innovative products and adopted various strategies for market expansion, which is increasing the use of these exciting services and products. For instance, in August 2022, FundamentalVR, a virtual reality (VR) and mixed reality (MR) immersive simulation platform for medical and healthcare professionals raised $20 million in a round of funding to "accelerate skill-transfer and surgical competency" through virtual reality (VR) and mixed reality (MR) applications. Additionally, in May 2021, NEJM Group and Education Management Solutions (EMS), a College Education company, signed an agreement to put a cutting-edge clinical diagnosis training program in front of every healthcare student in the United States.
Thus, all the above-mentioned factors such as the rising adoption of minimally invasive surgeries and product launches by market players are expected to boost the market over the forecast period.
