The new report by Expert Market Research titled, ‘Global Medical Education Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global medical education market price, assessing the market based on its segments like delivery mode, training, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 41.6 Billion
- Forecast CAGR (2023-2028): 5.50%
The growth of the global medical education market has been driven by the rising technological advancements, the rising demand for advanced and online education. The global market has been dominated by North America in the historical period of 2017-2021 owing to the increased adoption of advanced and upgraded technology in the medical education sector.
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The increased enrolment in the medical education sector also contributed significantly to the growth of the regional industry in the historical period. On the other hand, Asia Pacific is likely to be among the fastest growing regions in the medical education industry. The expected growth can be attributed to the rise of advance technologies that are being used for the industry and the rising urbanisation in the region.
Medical Education Industry Definition and Major Segments
Medical education refers to the course of study that is concerned with educating the people who want to be doctors. The course imparts the knowledge and skills necessary for illness prevention and treatment. It also establishes strategies and objectives for researching the elements that cause sickness or promote well-being.
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The industry can be categorised based on its delivery mode into:
- Classroom-Based Course
The industry can be divided based on training into:
- Oral and Maxillofacial
The industry can be broadly categorised on the basis of its end-use into:
- School of Medicine
- Government/Military Organisations
- Insurance and Company
- Non-Profit Organisation
- Publishing or Education Company
The EMR report looks into the regional medical education markets like:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Medical Education Market Trends
The increased demand for online learning has stemmed from the growing requirement to create a system that not only boosts medical professionals’ knowledge but also allows them to stay current with contemporary developments in the medical sector. Digitalisation has helped to open a slew of new opportunities for the global medical education business. Universities are introducing innovative teaching methods such as practical based approaches, evidence-based medicine (EBM), problem-based learning (PBL), and hands-on engagement and training with patients to enhance their medical knowledge, rather than traditional discipline-based curriculums. Medical education on the internet is anticipated to increase because it provides unique access to new study methods such as pace customisation and interactive learning via videos and audios, all of which are cost-effective. Furthermore, continuing medical education (CME) promotes lifelong learning by assisting medical professionals in filling gaps in their professional practice, which is likely to contribute to market growth throughout the forecast period.
Key Market Players
The major players in the market are Harvard Medical School, University of Oxford, University of Cambridge, Stanford Medicine, Gundersen Health System, Koninklijke Philips N.V., Siemens Healthcare Private Limited, Zimmer Pvt. Ltd., and Olympus America, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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