The medical education market is expected to experience moderate growth in the forecast period (2020-2027). Growing market size at a CAGR of 4.2%, the market valuation is anticipated to reach market valuation US$ 44 Bn by 2027-end.
Rapid advancements in healthcare infrastructure have stimulated investments in medical education. In addition, the number of medical schools has been rising, especially in developing economies.
The ongoing COVID-19 pandemic is anticipated to burgeon the scope of medical education, particularly online courses. With governments imposing strict social distancing measures, online education has gained important traction. Rampant penetration of the internet and acquaintance with existing technology has enabled medical experts, professors, and scholars to schedule online classes through a variety of approaches.
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With the growing popularity of online education, healthcare practitioners are devising novel ways to convey quality education to students. Some instances of technological enhancements in medical education include digital games, mobile devices, wearable technologies, and simulation software.
Strict social distancing norms execute by governments in the wake of the coronavirus pandemic have led to the closure of universities and colleges, prompting them to shift their courses online. This trend is anticipated to continue throughout the forecast period, as people will voluntarily choose to maintain social distancing even in the aftermath of the pandemic.
However, few students would still prefer to attend regular college post the pandemic as universities are provided with the required resources which otherwise may not be available externally.
Key Takeaways:
- Asia Pacific promises to emerge as the fastest-growing medical education market over the forecast period, expanding market size at a CAGR of 4.4% and capturing almost 1/5th of the global market value
- Asia Pacific’s market value is anticipated to expand 1.4x during the forecast period.
- The number of medical school enrolments in the U.S. registered an uptick of 25% upper in 2016 as compared to 2002.
- By mode of training, the distance-learning medical education segment is poised to expand market size at a CAGR of 4.2% through 2027.
- By mode of training, the adoption of online courses is expected to expand at a CAGR of 5.5% throughout the forecast period.
- By types of training, cardiothoracic training remains highly preferred over other types of training, capturing nearly one-fifth market share of the total market value.
- By type of organization, the school of medicine is expected to retain its dominance, capturing nearly 40% market share of the medical education market.
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Growth Drivers:
- With the rising popularity of online education, healthcare practitioners are devising novel ways to impart quality education to students which will boost the growth of the medical education market.
- Rapid advancements in healthcare infrastructure have stimulated investments in medical education. In addition, the number of medical schools has been increasing, especially in developing economies which will improve the medical education market.
Competitive Landscape:
The competitive landscape of the Medical Education Market focuses on competition has prompted global pharmaceutical and biotech companies, big hospitals, clinics & research centers to provide financial and traveling aid to facilitate the completion of medical education of students.
- Collaborated with the University of New South Wales to launch a public health degree program in India. The objective of this course is to equip India’s medical workforce to respond to major health challenges facing the country. This new Master of Public Health (MPH) program will assist in meeting the growing shortage of health professionals in India.
- Similarly, Olympus Corporation offers its own medical education program through its university. The program is geared towards nurses, reprocessing technicians and biomeds. It offers its courses via sponsored webinars and certificate courses for reprocessing and endoscopic training.
- Besides, various universities such as the Johns Hopkins University and Stanford University offer full-time highly specialized medical educational programs.
Key Companies Profiled by Fact.MR
- Siemens Healthineers
- CAE Healthcare
- Apollo Hospitals
- Johns Hopkins School of Medicine
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Medical Education Market: Segmentation
Fact.MR has studied the medical education market with detailed segmentation on the basis of delivery method, mode of training, types of training, type of organization and region.
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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