+44 1478 350008
The global medical education market is majorly increased by the requirement to cure chronic diseases with the lofty global burden. Other major boosting aspects are increased awareness of global health disparities paired with growing 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 growth of the medic education market. Nevertheless, positive economic growth and vast student base coupled with growing investments in healthcare all over the world are estimated to reveal the new opportunities in the near future for medical education market. In addition to this, increasing provision 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 confirmed that medical students must sign Rs. 5-7.5 Lakh bond. This will confirm the completion of their education, in that way boosting the medical education market.
The market for healthcare education is expected to grow from USD 9.3 billion in 2018 to USD 13.3 billion by 2023, at a CAGR of 7.4% during the forecast period. Growth in the healthcare education solutions market can be credited to factors such as changing technologies in the healthcare industry that is important to increased training needs, growing penetration of online education, and CME programs gaining momentum due to stringent regulatory directives.
Asia pacific expected to dominate the medical education market in the near future
Europe, Asia Pacific, Latin America, North America and Middle East & Africa are major regions of global medical education market. North America is expected to stay the dominating region in the future. Requirement for medical education was upmost in North America particular in the U.S. Also, Latin America and the Middle East & Africa are expected to show sensible development in the years to come for medical education market. Asia Pacific is to be expected to be the reasonable developing area in medical education market in the future.
The medical education market is divided based on several kinds of training comprising neurology, cardiothoracic, oral, orthopedic, pediatric, maxillofacial, laboratory, and radiology. The cardiothoracic sector of medical education market is expected to develop at 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 division ruled the medic education market.
North America represents developed regional markets for medical education and is expected to see the quick growth in the years to come. U.S. is the far leading medical education market by country in North America. The U.S. market is expected to grow at the upmost CAGR during the forecast period. This growth is mostly due to developed healthcare infrastructure, increased awareness among patients in this region. Additionally, timely technological renovations due to developed healthcare IT solutions in this region promote the growth of medical education market..
Europe was the second largest regional market and is expected to show imperative growth in the years to come. This growth is due to consistent restructuring and up gradation of courses, stable healthcare education policies and technological innovations.
Copyright: This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.