Medical Education Market | Focus on patient-centred care drive medical education market
Medical education has attracted the interest as well as investments from the medical fraternity. In an age of value-based care, medical education is becoming all the more important. It is undoubtedly important that clinicians focus on the adoption of state-of-the-art instruments and medical equipment. But, equally vital concern that underpins the drive toward medical education market is the need for patient-centred care. Over the years, both government sector and private healthcare institutes have committed large funds on medical education to upskill clinicians. This has become imperative since the paradigm of healthcare IT is changing very fast.
Another key accelerator of investments in the continuing medical education is the widening gap between patient care and the access to quality patient care at affordable cost. Medical education in the veritable bridge between the two. In almost all areas of medical education, ICT has made vast inroads. This has intensified the need for medical education for the entire fraternity.
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Medical training and education varies substantially all over the world. The purpose of medical education is to prepare physicians for serving the very rudimentary tasks and purposes of medicine. The medical practitioners are anticipated to develop a very keen and sincere sense of service and commitment toward their patients. They need to have qualities that could be utilized to meet up with the demand of a society or an individual pertaining to their profession. With the expanding population, the demand for such professionals is bound to rise. This factor is anticipated to bolster growth of the global medical education market in the years to come.Rapid developments and progress achieved in the infrastructure of the healthcare sector have garnered augmented investments for medical education. In addition to that, more medical schools and institutes supporting medical education have been developed across the globe.
Array of collaborative models opening new vistas in market
In the currently emerging COVID 19 pandemic, the trend of online medical education has imparted a new impetus to the expansion in the market. Chronic disease management and the growing adoption of wearable have opened up new vistas for medical education for clinicians to keep pace with the changing times. Also, remote monitoring technologies are witnessing rapid adoption, spurring the demand for medical education for offering value-based care across the entire continuum.
An array of collaborative models have emerged involving universities and educational institutes, thereby creating new avenues in the medical education market. E-platform technologies have been key enabler for the adoption of new technologies. These models of patient care also take care of better metrics for measuring patient satisfaction, which is usually multidimensional in all clinical settings.
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Launch of brand new collaborative models in the field of medical education and growing prominence and preference for continuing medical education (CME) and online education programs is likely to augur well for the market. As more students are opting for online teaching, the global medical education market is likely to gather momentum from the increased number of students from the medical field. Online teaching programs have gained huge attention and have gathered immense momentum due to the prevalence of Covid-19, a SARS-CoV-2 induced respiratory disease, across the globe.
Geographically, North America is a markedly lucrative regional market, where its growth is spurred by the presence of elite medical colleges.
Key Players Analysis:
Siemens Healthcare Private Limited, Harvard Medical School, Koninklijke Philips N.V., University of Cambridge, Zimmer Pvt. Ltd., University of Oxford.
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