Surge in advancements in healthcare infrastructure has boosted investments in medical education.
Surge In Advancements in Healthcare Infrastructure And Increased Investments In Medical Education Are Expected To Push Market Valuation To Reach US $ 44 Billion By 2027-End
Fact.MR – A Market Research and Competitive Intelligence Provider: The global medical education market is expected to witness a CAGR of 4.2% during the forecast period (2022-2027) and is also predicted to reach US $ 44 Billion by 2027 end.
Surge in advancements in healthcare infrastructure has boosted investments in medical education. Moreover, the number of medical schools has been increasing, especially in developing economies.
In addition to this, Covid-19 pandemic has amplified the growth of medical education, particularly online courses. In the last few years, governments across the globe have been imposing strict social distancing measures and this has ultimately led online education gain more traction. Emergence of digitization and advanced technologies in education sector has enabled medical experts and professors to schedule online classes. Moreover, pandemic has also helped scientific institutes to conduct further research on potential vaccines and drugs to treat Covid. This is ultimately expected to boost the growth of the medical education market.
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Besides this, digital games are offering tools that offer challenging stimulating environments and are often used for online medical operations. These games help surgeons improve eye coordination and reflex time.
In addition to this, key players in the market that are making significant investments are expected to offer revenue growth opportunities in the future. Surge in adoption of online courses is expected to boost the growth of the market during forecast period.
Besides this, rapid adoption of upgraded educational frameworks in various developed regions is expected to support the growth of the market. Moreover, shift to competency-based medical education is also witnessed in the last few years.
Key Takeaways:
- Asia pacific is the expected to emerge as the fastest-growing segment during the forecast period, expanding at a CAGR of 4.4.
- North America is expected to remain dominant, capturing more than 2/5th of the medical education market revenue.
- Adoption of online courses is expected to witness a CAGR of 5.5%. Meanwhile, distance-learning method is expected to grow at a CAGR of 4.2% during forecast period.
Growth Drivers:
- Technological advancements, rising popularity of online education, surge in enhancements such as wearable technologies, simulation software are expected to boost the growth of the market
- Rapid advancements in healthcare infrastructure and surge in number of medical enrollments is expected to support the growth
- Covid-19 pandemic has burgeoned the scope of medical education, primarily, online courses. Moreover, high penetration of Internet and acquaintance with existing technology has pushed medical experts, scholars to schedule online classes.
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Competitive Landscape:
Medical education market is highly competitive and it comprises of large number of local, regional, national and international players. High competition in the market has pushed global pharmaceutical and biotech companies, big hospitals to provide financial aid to facilitate the completion of medical education of students. For instance,
- Apollo Hospitals collaborated with the University of New South Wales to launch public health degree in India. The objective of this course is to utilize country’s medical workforce to respond to major health challenges facing the country
- Moreover, Olympus Corporation offers its medical education program through its university. The program offers its courses via sponsored webinars and certificate courses for endoscopic training.
Market is fragmented in nature and key players in the market are Apollo Hospitals, Gundersen Health System, Zimmer Bimet Holdings, Inc., GE Healthcare, The John Hopkins University, and American College of Radiology.
Key Companies Profiled by Fact.MR
- Apollo Hospitals
- Zimmer Biomet Holdings, Inc.
- Gundersen Health System
- Olympus Corporation
- GE Healthcare
- Harvard Medical School
- Johns Hopkins University
- Stanford University
- American College of Radiology
- Healthcare Training Institute
Segmentation of Medical Education Industry Research
Delivery Method
- Internet Enduring Materials
- Courses
- Regularly Scheduled Series and Other Enduring Materials
Mode of Training
- On-campus
- Distance
- Online
Types of Training
- Cardiothoracic Training
- Neurology Training
- Orthopedic Training
- Oral and Maxillofacial Training
- Pediatric Training
- Radiology Training
- Laboratory
- Others
Type of Organization
- School of Medicine
- Government/Military Organizations
- Hospitals
- Insurance Companies
- Non-profit Organizations
- Publishing or Education Companies
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Medical Education Market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis Mode of Training (On-campus, Distance), By Types of Training (Cardiothoracic, Neurology, Orthopedic, Oral and Maxillofacial, Pediatric & Radiology Training), By Type of Organization, By Delivery Method, By Region - Global Insights 2030
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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