Rockville, MD, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Revenue from medical education is estimated to reach US$ 35.11 billion in 2024, as revealed in a study recently updated by Fact.MR, a market research and competitive intelligence provider. The global medical education market has been forecasted to expand at a CAGR of 5.1% from 2024 to 2034.
Ongoing advancements in healthcare infrastructure are leading to the growing expenditure on medical education, which is also contributing to the increasing number of medical education centers globally. Team-based learning strategies and interdisciplinary education are becoming more popular. Several medical students are working alongside professionals to mimic interdisciplinary patient care scenarios. However, the scarcity of trained medical educators along with time and budget constraints is also adversely impacting market dynamics.
North America is home to several prestigious medical schools and colleges, such as Johns Hopkins, Harvard, the University of Toronto, and Stanford. These schools are globally well-known for their quality of education in medicine, thereby attracting talent across the globe.
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Key Takeaway from Market Study:
- The market for medical education is forecasted to reach a value of US$ 57.95 billion by the end of 2034.
- North America is projected to account for a share of 35.6% of the global market by 2034.
- Worldwide demand for on-campus medical education services is analyzed to rise at a 4.9% CAGR and reach a market value of US$ 33.92 billion by the end of 2034.
- The market in South Korea is analyzed to expand at a CAGR of 5.8% from 2024 to 2034.
- Global demand for cardiovascular training in medical education is evaluated to increase at a CAGR of 7.4% and reach a value of US$ 16.94 billion by the end of 2034.
- Sales of medical education solutions in Canada are forecasted to rise at a 7.5% CAGR through 2034.
“Several leading medical education solution providers are investing in adaptive learning approaches with the use of AI, thereby enabling delivery of personalized courses to students coming from diverse backgrounds,” says a Fact.MR analyst.
Designing of Sub-specialty Medical Education Courses Ensuring More Effective Learning Experiences:
Worldwide demand for medical education courses is evaluated to increase at a 5.2% CAGR and reach a value of US$ 37.92 billion by 2034-end. An increased availability of several advanced medical courses is creating prospects for global market players. Furthermore, the introduction of several sub-specialty courses is ensuring effective training for students globally.
Leading Players Driving Innovation in Medical Education Market:
Key market players offering services in medical education are American College of Radiology, Zimmer Biomet, Apollo Hospitals Enterprise Limited, TACT Academy for Clinical Training, CAE Inc., Stanford University, GE Healthcare, Siemens Healthineers AG, Gundersen Health System, Olympus Corporation, Johns Hopkins University, Medtronic, Richard Wolf GmbH, Johnson & Johnson Inc., and Level Ex. These market players are working actively to expand their footprints through collaborations, acquisitions, and other methods for expanding their reach.
Medical Education Industry News:
- Accredited provider of services for educational programs, Rockpointe Corporation was bought by Clinical Education Alliance (CEA) in July 2022. The acquisition will facilitate the growth of primary care education while bolstering CEA's emphasis on high-science treatments offerings.
- In November 2021, Osmosis—a platform providing services to medical professionals—was bought by Elsevier.
- eLearning Brothers, in January 2022, acquired Origin Learning for the expansion of its product development capacity and learning solution team.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the medical education market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on delivery method (Internet-based enduring materials, courses, regulatory schedules series & other enduring materials), mode of training (on-campus, online, distance), type of training (cardiothoracic, neurology, orthopedic, oral & maxillofacial, pediatric, radiology, laboratory, others), and type of organization (school of medicine, publishing or education companies, government/military/organizations, insurance companies, hospitals, non-profit organizations, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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