The ‘Global Medical Education Market Size, Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global medical education market, assessing the market on the basis of its segments like delivery mode, training, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Medical Education Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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 increasing population globally and rising prevalence of a variety of medical conditions are resulting in a heightened demand for capable medical professionals, driving the growth of the medical education market. As various countries invest in upgrading healthcare infrastructure, there is greater need for medical professionals that are up-to-date with latest medical diagnostics procedures and treatment options. Unhealthy lifestyles led by people worldwide, combined with poor diets and lack of exercise are resulting in growing prevalence of lifestyle diseases such as diabetes and hypertension, augmenting the need for adequate medical education to provide patients with treatment and knowledge.
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Rising preference and use of remote education due to the increased convenience offered is a key factor anticipated to drive the medical education market in the coming years. Medical professionals are using digital health and telehealth to remotely access health administration operations, clinical healthcare, health-related education, and public health operations. Existing medical professionals are also using distance and online learning to upgrade their knowledge and keep up with latest knowledge in the field. Improvements in technology are aiding in the breaking of geographic barriers for students that are learning off-campus. Many healthcare institutions are significantly investing in new and modern ways of learning through online learning, further bolstering the medical education market.
Medical Education Industry Definition and Major Segments
Medical education is the study of medical knowledge, imparting the information and skills required to be able to practice medicine, and prevent and treat health issues patients may face. Students completing medical education can be qualified to become a doctor, specialist, surgeon, or nurse, among others. It is an academic field which offers education, information, training and specialisation to medical students and existing medical practitioners.
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On the basis of delivery mode, the market is divided into:
- Classroom-Based Course
- Distance
- Online
- Others
Based on training, the market is segmented into:
- Cardiothoracic
- Neurology
- Orthopaedic
- Oral and Maxillofacial
- Paediatric
- Radiology
- Laboratory
- Others
On the basis of end use, the market is classified into:
- School of Medicine
- Government/Military Organisations
- Hospital
- Insurance and Company
- Non-Profit Organisation
- Publishing or Education Company
- Others
Based on region, the market is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Medical Education Market Trends
The increasing introduction and adoption of advanced and new technologies is boosting the growth of the medical education market. Growing investments in technology for medical education is one of the key trends that is expanding the market because it provides multiple benefits like virtual lectures, patient simulations, and augmented reality, among others. The use of high-tech solutions like virtual reality and augmented reality for improving the delivery of medical education is aiding to the growth of the market further. To future surgeons with necessary skills, more institutions are using 3D models in VR surgical theatres to practice safe surgeries.
One of the key trends in the medical education market is the increased emphasis on interprofessional relations and education. As many health conditions can become interdisciplinary by affecting numerous parts of the body, there is increased focus on teamwork and medical students and healthcare professionals are trained to maintain interactions among other professionals. The use of collaboration among healthcare professionals will train and prepare them to work in modern healthcare settings, to improve communication and coordination. With rising prevalence of stress among healthcare professionals, there is a growing focus in medical education towards self-care and stress management to avoid burnout and provide emotional support to help maintain the mental health of medical professionals.
Key Market Players
The major players in the global medical education market report are:
- Harvard Medical School
- University of Oxford
- University of Cambridge
- Stanford University
- Gundersen Health System
- Koninklijke Philips N.V.
- Siemens Healthcare GmbH
- Zimmer Biomet Holdings, Inc.
- Olympus Corporation
- 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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