Global Medical Education Market: Snapshot
The global market for medical education is likely to grow at a fast pace in the next few years. The technological developments in the medical sector and the development of diverse and updated courses are estimated to support the development of the global medical education market in the next few years. Furthermore, the globalization of the healthcare education is expected to accelerate the market growth in the near future.
Rising Trend of Online Education to Drive Global Medical Education Market
In 2015, the global market for medical education was worth US$25.9 bn and is projected to attain a value of US$38.4 bn by the end of 2024. The market is predicted to exhibit a healthy 4.30% CAGR between 2016 and 2024, states a new report by Transparency Market Research.
The rise in the demand for cardiovascular disease treatments with enhanced clinical outcomes is the key factor estimated to enhance the growth of the global medical education market in the next few years. The increasing number of institutes in the e-learning industries, especially in developing economies and the increasing research and development activities are anticipated to support the growth of the global medical education market in the near future. In addition to this, the development of the healthcare sector and the advancements in the education and medical sector are projected to offer growth prospects for the players across the globe. On the other hand, the high cost related to the medical education and the lack of internet connection in developing countries are estimated to restrict the growth of the global medical education market in the near future.
Increasing Investments in Medical Sector to Encourage Market Growth
Geographically, North America is anticipated to hold a large share of the medical education market in the coming few years. The presence of well-established players and the increasing awareness among people are the key factors that are likely to accelerate the growth of the North America market in the next few years. In addition to this, the technological advancements and the rising investments in this field are likely to supplement the market growth in the coming years. North America is expected to be followed by Europe and Asia Pacific. The introduction of new courses and the rising expenditure in the healthcare sector are predicted to enhance the growth of the Europe market. Furthermore, the rise in the adoption of online training for the medical education and the development of the healthcare infrastructure are estimated to support the growth of the Asia Pacific medical education market in the near future.
The global market for medical education is characterized by a high level of competition among the key players. The leading players in the market are emphasizing on the development of the medical sector by focusing on the research activities and creating an awareness regarding medical education. This is projected to help the players in expanding their product portfolio and enhancing their market penetration across the globe. In addition to this, the availability of lucrative opportunities present in the market, thus are attracting several new players to enter the market in the coming few years. The key players operating in the medical education market across the globe are GE Healthcare, Olympus Corporation, Zimmer Biomet Holdings, Inc., Gundersen Health System, TACT Academy for Clinical Training, Apollo Hospitals, and Medical Training College.
Global Medical Education Market: Overview
The global medical education market is likely to witness tremendous growth in coming years due to the technological advancement in the field of medical science. The rise in the older section of the population, the need for efficient medical aids have also increased. This factor has surged, the requirement of healthcare professionals such as care takers, nurses, doctors, and therapists. Moreover, online education and learning area has also expanded in the recent past, along with the emergence of new courses. This has also contributed in the high market demand for medical education.
Based on the learning model, the medical education market is segmented into blended learning and online learning. The blended learning technology dominated the market in 2016, holding a maximum number share in the global market characterized by high revenue. This learning model encouraged the educational institution to concentrate on coming up with new standards of learning. It also focuses on the development of new, updated, or revised content consistently.
The report offered herewith considers all the vital details and factors contributing to the development of the global medical education market, for example, market figures, drivers, restraint, trends, opportunities, market potential, segments, and geographical outlook. The report helps in understanding the market scenario and competitive landscape for medical education market, by presenting the status of key players, leading regions, business strategies, and scope of the overall market development.
Global Medical Education Market: Trend and Opportunities
Cardiothoracic, orthopedic, neurology, pediatric, oral and maxillofacial, and laboratory are some of the disciplines in which medical education provides valuable learning. Several regions in the world are focusing on the technological updates and providing the upgrades about the technological evolution. The healthcare industry is one of the most lucrative industry owing to extremely high budgets, allocation of massive budgets by the governments, and supportive policies and regulations designed for the sector by several developed and developing economies.
Increased inclination by masses towards online learning is the one of the major driving forces for the market growth. The increase in the ubiquity of diseases caused due to change in lifestyles, and the way of living is an additional reason for the rise in demand for medical education. Moreover, surge in the interest for testing, online assessments and examinations, e-books, and the need of interactive media is also anticipated to lead the development of the market. Various diseases like hypertension, orthopedic issues, and obesity have surged the requirement of basic healthcare providers. This scarcity is expected to create a huge scope of opportunities, which will in turn boost the growth of medical education in the market. Doctors are at the bleeding edge of this range and would serve best to the prosperity of the general population.
Although owing to high amount of money charged for on-campus or classroom training, the growth is likely to decline during the predicted time frame. The government is also working on spreading awareness among the masses and patients. This helps the people in drawing their attention towards various diseases, ways to cope up with them, and prevent them.
Global Medical Education Market: Geographical Analysis
The geographical region is segmented into North America, Asia Pacific, Europe, and Rest of the World. Considering a large number of student population in Asia Pacific region especially countries such as China, India, and Japan, the region provides the most fertile ground as per the scope of advancements and business expansions. This region also has a large number of people with discontented with the medical treatments. Moreover, surge in economic development and regulatory measure and policies imposed by the government has also opened the door for new opportunities in the medical education market. Though, Europe and North America are among the unexplored region in the market.
Global Medical Education Market: Companies Mentioned
Gundersen Health System, Apollo Hospitals, GE Healthcare, TACT Academy for Clinical Training, Zimmer Biomet Holdings, Inc. (Zimmer Institute), Olympus Corporation, and Medical Training College are some of the leading companies in the global market, catering medical education. TACT Academy for Clinical Training is a new edition among the key players in the market, projecting high scope of development and revenue.
Key Segments of the Global Medical Education Market
Global Medical Education Market, by Type of Training
- Oral and Maxillofacial
Global Medical Education Market, by Mode of Education
Global Medical Education Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- South Africa
- Rest of Rest of the World
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments