New York, NY, Sept. 29, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Medical Education Market by Type of Training (Cardiothoracic, Neurology, Orthopedic, Oral and Maxillofacial, Pediatric, Radiology, Laboratory) for On-campus, Distance and Online Mode of Education: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022’’. As per the analysts at Zion Market Research, global medical education market was capitalized at almost USD 27.17 Billion in 2016 and is likely to create an income of almost USD 36.20 Billion by of 2022, developing at a CAGR of almost 4.9% from 2017 to 2022.
Increased Awareness Of Global Health Disparities Paired With Increasing Penetration Of Internet To Boost The Medical Education Market
According to analysts at Zion Market Research, the global medical education market is majorly boosted by the requirement to cure chronic diseases with the lofty worldwide burden. Other major boosting factors are increased awareness of global health disparities paired with increasing penetration of Internet. On the other hand, lack of practical awareness in distance learning paired with high fees for classroom training is the major factors that might hinder the development of the medic education market. Nevertheless, positive economic growth and vast student base coupled with rising investments in healthcare all over the world are expected to reveal the new opportunities in the near future for medical education market. In addition to this, increasing support from the government is also set to foster the development of medical education market. For instance, in June 2016, the Medical Education and Research Department of India declared that medical students must sign Rs. 5–7.5 Lakh bond. This will ensure the completion of their education, thereby boosting the medical education market.
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Healthcare is changing at multiple fronts at an extraordinarily fast pace. Medical science has increased our understanding of the body and created an explosion of new information. However, medical schools are not or only slowly introducing changes in their curriculum. Teachers at many medical faculties are not educated to teach; they are doctors and mostly lack knowledge of how to show their skills to their students. Medical education is education related to the practice of being a medical practitioner; either the initial training to become a physician (medical school and internship) or additional training thereafter (e.g. residency and fellowship).
Some of the major players in medical education market comprise TACT Academy for Clinical Training, Apollo Hospitals, Olympus America, Zimmer Institute, GE Healthcare, Gundersen Health System, Medical Training College, and others. These players have a lion’s share in the development of medical education market in the years to come.
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Global burden of chronic diseases such as cardiovascular diseases, diabetes, cancer, HIV etc is increasing. As per World Health Organization’s report on top ten leading causes of death, in 2015, of the 56.4 million deaths worldwide, more than half (54%) were due to the top ten causes. Ischemic heart disease and stroke are the world’s biggest killers, accounting for a combined 15 million deaths in 2015. These diseases have remained the leading causes of death globally in the last 15 years. Chronic obstructive pulmonary disease claimed 3.2 million lives in 2015, while lung cancer (along with trachea and bronchus cancers) caused 1.7 million deaths. Diabetes killed 1.6 million people in 2015, up from less than 1 million in 2000.
Lower respiratory infections remained the most deadly communicable disease, causing 3.2 million deaths worldwide in 2015. HIV/AIDS is no longer among the world’s top 10 causes of death, having killed 1.1 million people in 2015 compared with 1.5 million in 2000. Road injuries killed 1.3 million people in 2015, about three-quarters (76%) of whom were men and boys. Also, the world’s population is aging at a rapid pace. The number of people aged 60 years or older will rise from 900 million to 2 billion between 2015 and 2050 (moving from 12% to 22% of the total global population) as per WHO’s estimates. Thus the healthcare industry is growing continuously.
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The rise in the number of enrollments in medical education and courses is not accompanied together with the availability of trained faculty. Lack of skilled teachers with updated knowledge and industry experts make training institutions difficult to hire them. Increasing prevalence of chronic diseases and emerging training programs in global health worldwide create a unique opportunity to expand human resources to reduce the global burden of disease. Thus, growing incidences of chronic disease are expected to be the major driver for the global medical education market.
In addition, increasing penetration of internet coupled with increased awareness of global health disparities are expected to trigger the growth of the global medical education industry in the coming years. However, high fee structure for classroom training coupled with the lack of practical knowledge in distance learning may pose the challenge to the medical education market. Nevertheless, huge student base and positive economic growth coupled with increased investments in healthcare across the globe are expected to act an opportunity for medical education market in near future.
This review is based on a report by Zion Market Research, titled “Medical Education Market by Type of Training (Cardiothoracic, Neurology, Orthopedic, Oral and Maxillofacial, Pediatric, Radiology, Laboratory) for On-campus, Distance and Online Mode of Education: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022”- Report at http://www.zionmarketresearch.com/report/medical-education-market
Asia Pacific Likely To Dominate The Medical Education Market In The Near Future
Europe, North America, Latin America, Asia Pacific, and Middle East & Africa are major regions of global medical education market. North America is likely to stay the dominating region in the near future. Requirement for medical education was uppermost in North America particular in the U.S. Furthermore, Latin America and the Middle East & Africa are also likely to show sensible development in the years to come for medical education market. Asia Pacific is likely to be the reasonable developing area in medical education market in the near future.
The medical education market is divided based on various kinds of training comprising neurology, cardiothoracic, oral, orthopedic, pediatric, maxillofacial, laboratory, and radiology. The cardiothoracic sector of medical education market is likely to develop at the quickest rate in the forecast period. The medical education market is segmented on the basis of mode of education as distance, on-campus, and online. In terms of income, on campus segment ruled the medic education market.
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The global medical education market is segmented as follows:
By Type
- Cardiothoracic
- Neurology
- Orthopedic
- Oral and Maxillofacial
- Pediatric
- Radiology
- Laboratory
By Mode
- On-campus
- Distance
- Online
By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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