Medical Education Market to Grow at ~5% CAGR During Forecast Period: TMR Study
- It is anticipated that the delivery of medical education will be enhanced through multidisciplinary approaches incorporating public reporting, improved efficiency and informatics
- Rising demand for interactive media for high-quality education and growing need for online assessments and tests are expected to bolster the expansion of the global medical education market
WILMINGTON, Del., September 26, 2022 /PRNewswire/ — According to the TMR study, in 2019 the global medical education market was worth US$32 billion. The global market is expected to grow at ~5% CAGR during the forecast period, 2020 to 2030. By 2030, the medical education market is estimated to touch the value of 56.9 billion. The American Medical Association is increasingly known for its advances in medical education. Graduate and undergraduate medical education faculties are rewarded with innovation grant programs to improve the medical education sector. North America is expected to be the fastest growing medical education market over the forecast period.
These initiatives expand the pool of specialist physicians able to adapt to the rapidly changing healthcare landscape. By securing financial support from various healthcare organizations, market players are building their trustworthiness. The medical education market is booming with the latest technologies in healthcare.
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For digital learners, the widely interconnected network of the Internet has proven advantageous. So, to monetize the idea of online classrooms, companies in the medical education industry need to innovate in online education portals and mobile apps. Online classrooms are estimated to be the biggest revenue generator in the medical education market. Moreover, the transmission of medical knowledge is evolving due to collaborative teaching and game-based learning techniques.
Key Findings of the Market Report
The major players in the medical education market are able to diversify their revenue streams through the increasing adoption of advanced technologies and AI, which are expected to be recent developments in the medical education market. In order to improve accessibility to biological information, digitized health systems are becoming widespread among patients and professionals. As a result, AI helps reduce the effort required for doctors to analyze digital data and improve their efficiency in prognosis and diagnosis.
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The need to remove duplicate content from the curriculum, according to medical educators, is strongly suggested. In order to avoid information overload, health institutions in the medical education industry revise the curriculum and introduce innovative programs. Additionally, in order to improve patient outcomes, there is a need to diversify medical education. Patient outcomes are enhanced through the redesigned curriculum and also team-based treatment, which is further expected to drive the future market demand for medical education.
A recent study by the Rockpointe Corporation in the United States found that medical education has been very successful in teaching and helping physicians make important decisions for their patients based on the best available evidence. According to research, physicians who participated in medical education activities often had a beneficial effect on those who participated, as opposed to those who did not. Medical education plays an important role in the acceptance of evidence-based medicine.
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Global Medical Education Market: Key Players
Some of the major players in the market are
- Tact Academy for clinical training
- Siemens Healthineers SA
- Gundersen Health System
- Zimmer Biomet Holdings, Inc.
- Johns Hopkins University
- Apollo Hospitals,
Global Medical Education Market: Segmentation
Type of training
- Cardiothoracic training
- Neurology training
- Orthopedic training
- Oral and maxillofacial training
- Pediatric training
- Radiology training
- Laboratory training
- On the campus
- On line
- Medicine School
- Government/military organization
- Insurance & Co.
- Non-profit organisation
- Publishing or education company
- Molecular genetic methods
- Sustainable materials on the Internet
- Regularly scheduled series and other durable materials
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