Global Task Trainers Market is Expected to Reach $505 Million by 2022
Global task trainers market is majorly driven by the growing need to curtail the healthcare costs which is primarily attributed to the shortage of healthcare professional, increased healthcare spending, increased administrative expenses, lifestyle choices, high end technologies, and growing incidences of chronic disorders and population in general
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Global task trainers market is majorly driven by the growing need to curtail the healthcare costs which is primarily attributed to the shortage of healthcare professional, increased healthcare spending, increased administrative expenses, lifestyle choices, high end technologies, and growing incidences of chronic disorders and population in general. According to the UN Population Division, the global aging population is set to increase from 880 million in 2011 to 2 billion by 2050, representing 22% of the world’s population. Japan and South Korea are considered to be the fastest aging countries. Most regions in the world will thus witness approximately 10% increase in healthcare costs, as per a survey conducted by leading medical insurers in 48 countries; the cost in North America will increase by around 11%, while Europe will witness 8% rise. According to the CDC, Medicare spending has grown about nine-fold in the past 25 years, increasing from $37 billion in 1980 to $336 billion in 2005. If left unchecked, healthcare spending will increase 25% by 2030, largely because of the aging population. This situation may prove to be detrimental for countries such as the U.S., where the forecast aging population by 2050 is not as high as other countries, although healthcare spending was at 17.8% of the GDP in 2015 and is expected to reach 20.1% by 2025.
Thus, in such a financially stretched healthcare sector, use of technology can marginally reduce the healthcare costs. Medical simulation technologies like task trainer is one such promising technology that aims to facilitate the efficient learning, developing skills of the healthcare providing team, reducing the medical errors, increasing patient safety, and improves the overall patient outcomes which helps the medical community to mitigate the rising healthcare costs across the globe.
Apart from this, growing emphasis on patient safety and outcomes have boosting impact on global task trainers market since it addresses a long standing concern of medical errors in healthcare practices. According to the Journal of Patient Safety around 400,000 deaths occurs each year in the U.S. only. It also reveals that each year preventable adverse events (PAEs) lead to the death of 210,000-400,000 patients who seek care at a hospital. These figures make medical errors the third leading cause of death behind heart disease and cancer, according to Centers for Disease Control and Prevention statistics. According to WHO, in Europe 8 to 12% of the patient admitted in hospitals are misdiagnosed and leads to fatal outcomes. World Health Organization also believes that one in 10 hospital admissions leads to an adverse event and one in 300 admissions in death across the globe. Thus, there is an increasing need to reduce medical errors and adverse events in order to improve patient safety and increase health outcomes. Other key factors that drives task trainer market includes consistent development in medical simulation technologies, shortage of real life patient for practice purpose, and growing preference to minimal invasive surgeries. However, there are certain factors that have restraining effect on this market such fidelity of task trainer, which is nothing but the inability of task trainers to imitate the emotional attributes of the patients. This may also impart a negative learning as learner might lack in humanitarian approach.
The global task trainers market is mainly segmented by product, end-user, and geography. The product market is primarily segmented into obstetric trainers, pediatric & neonatal care trainers, trauma care kits and trainers, respiratory & airway trainers, basic life support trainers, and simulation accessories. The market is further segmented by end user in to healthcare education, hospitals, military, emergency medical services , and voluntary organizations. The global task trainers market is further segmented by geography into four major continents namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW). These continents are then analyzed on the country level.
The leading players in the global task trainers market are CAE Ltd, Laerdal Medical, Gaumard Scientific, Limbs & Things LTD, 3D Systems Inc., Kyoto Kagaku Co., Ltd, Adam, Rouilly Limited, 3B Scientific, Tellyes Scientific Inc., Surgical Science, Altay Scientific S.p.A, Simulab Corporation, 3-Dmed, and Simulaids, Inc.
Key questions answered in the report:
- Which are the high growth market segments in terms of products, end-users, regions and countries?
- What is the historical market for task trainers across the globe?
- What are the market forecasts and estimates from the period 2016-2022?
- What are the major drivers, restrains, threats, and opportunities in the global task trainers market?
- What are the burning issues of the global task trainers market?
- Who are the major players in the global task trainers market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- What are the competitive landscapes and who are the market leaders by sub-region in the global task trainers market?
- What are the recent developments in the global task trainers market?
- What are the different strategies adopted by the major players in the global task trainers market?
- What are the geographical trends and high growth regions/ countries?
- What are the local emerging players in the global task trainers market and how do they compete with the global players?
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