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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 41.6 billion
- Forecast CAGR (2021-2026): 4%
The presence of stringent regulatory mandates related to CME services, as well as technical advances in the healthcare industry and rapid development in the online education and e-learning field, are all driving growth in this area. Educational solutions have grown in popularity over time. The learning process has been redefined thanks to technological advancements in the area. The key goal of online education solutions is to monitor the learning process and to build an interactive learning atmosphere such that more functionalities can be added to improve learning abilities. The rising demand for digitalisation of education for effective learning is boosting the market growth of medical education.
Industry Definition and Major Segments
Medical education encompasses the basic preparation to become a physician (i.e., medical school and internship) as well as further training after that (e.g., residency, fellowship and continuing medical education). The quality of medical education and training varies greatly across the world. In medical education, which is an active field of educational study, various teaching methodologies have been used.
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The industry can be categorised based on its delivery mode into:
- Classroom-based course
The industry can be divided based on training into:
- Oral and maxillofacial
The industry can be broadly categorised on the basis of its end use into:
- School of Medicine
- Government/Military Organisations
- Insurance and Company
- Non-Profit Organisation
- Publishing or Education Company
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The enhanced demand for online learning has arisen from the growing need to have a framework that not only increases medical professionals’ expertise but also allows them to keep up with new developments in the medical field. Digitalisation has helped to open up a slew of new opportunities for the global medical education industry. Universities are introducing creative educational practises such as practical oriented approaches, evidence-based medicine (EBM), problem-based learning (PBL), and hands-on engagement and instruction with patients to develop their medical skills, rather than conventional discipline-based curriculums. Medical education on the internet is likely to expand because it provides unprecedented access to new research methods such as speed customisation and immersive learning through videos and audios, all of which are cost-effective.
Key Market Players
The major players in the market are Harvard Medical School, University of Oxford, University of Cambridge, Stanford Medicine, Gundersen Health System, Koninklijke Philips N.V., Siemens Healthcare Private Limited, Zimmer Pvt. Ltd., and Olympus America, among 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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