Global Medical Education Market: Overview
Healthcare has always ranked among the most profitable sectors due to extensive budget offered by the consumers and favorable policies by the governments. Naturally, there has always been a consistent demand for professionals who can perform the complicated tasks in the healthcare industry. Consequently, the demand in the global market for medical education is expected to expand at a healthy growth rate during the forecast period of 2016 to 2024.
This report on global medical education market segments it into definitive categories in order to present a clear picture of the opportunities available and also provides an in-depth analysis of the trends, recent developments, and outlook. The overview section of the report includes market dynamics such as drivers and restraints and estimates the eventual impact during the forecast period. The chapter on market attractiveness has been included in order to explain the intensity of competition between the leading players operating in across the globe.
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Global Medical Education Market: Trends and Opportunities
Increased preference for online education is the primary driver in this market. Rising demand for e-book, online assessment, and testing, as well as the desire for interactive media for better education are predicted to lead the growth of the market. The Internet is an essential source of animation, audio and video files, articles, and books that can better promote the market. The Increasing prevalence of lifestyle-induced illnesses is another factor augmenting the demand. The diseases such as obesity, hypertension, and orthopedic problems have increased the need for primary care providers. Physicians are at the forefront of this area, and would serve best to the well-being of the people. The severe shortage of primary care will create better opportunities and consequently growth of the medical education market is expected to be observed.
Conversely, high fee structure for classroom or on-campus training is viewed as a factor that will hinder the growth rate during the forecast period. On-campus training or classroom courses are high on tuition fees, which restricts several candidates to scholarships or loan. Also, decreased preference for distance education will restrict the growth rate. Since the field requires practical knowledge, and experience is of immense importance, learning at a distance is not considered.
The global medical education market has been broadly segmented based on type of training into cardiothoracic, neurology, oral and maxillofacial, orthopedic, pediatric, radiology, and laboratory. By the mode of education, the market is divided into on-campus training, online training, and distance training.
Global Medical Education Market: Region-wise Outlook
Asia Pacific is the most lucrative market for medical education owing to a huge student population as well as positive economic development in countries such as India, China, and Japan. These countries are home to large populations and high unmet medical needs. Economic development and government initiatives have trigged a rise in the disposable incomes and awareness levels of consumers in these countries and have opened up new avenues of growth for medical education market. On the other hand, North America and Europe are not as untapped market as Asia Pacific.
Companies mentioned in the research report
Some of the key players identified by the report that are currently active in the global medical education market report are Apollo Hospitals, Gundersen Health System, Medical Training College, GE Healthcare, Olympus Corporation, Zimmer Biomet Holdings, Inc. (Zimmer Institute), and TACT Academy for Clinical Training. TACT Academy for Clinical Training is a recently founded company, which holds immense scope of growth through its course collaborations and offerings.
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