Medical Education Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global medical education market size was valued at US$ 32.4 Bn in 2020 and to reach US$ 56.5 bn by 2028 with a CAGR of 5.2% from 2021 to 2028.

Increase in the number of medical schools, owing to the COVID-19 pandemic is projected to drive the global medical education market in the near future. Increase in demand for online assessment & testing and rise in the need of interactive media for quality education are factors fueling the growth of the global medical education market. Online medical education is a high-growth market. Factors such as increase in penetration of Internet and exposure to current technologies across the world are major drivers of the market. 

Medical education is a highly practical field that calls for intense on-job training. The market for distance training is quite small; those attempting to gain certification through distance learning are unlikely to gain complete knowledge. There exists no substitute for on-job practical training for medicine. This is a globally accepted view. The market for distance training is quite small; it is not expected to expand significantly. In terms of type of training, the global medical education market has been classified into cardiothoracic training, neurology training, orthopedic training, oral & maxillofacial training, pediatric training, radiology training, laboratory training, and others.

Redesigning of Curriculum and Team-based Care Improve Patient Outcomes

The medical education market is projected to reach 56.9 Bn by the end of 2030. However, stakeholders need to address challenges of medical educators. For instance, there is a need for more patient-centric medical training, which involves clinical exposure and patient learning into medical school curriculums. Medical schools should embed students in healthcare systems and provide training for team-based care.

Medical educators suggest that there is a need to exclude redundant information from the curriculum. Hence, healthcare institutes in the medical education market are redesigning the curriculum and are launching creative programs that facilitate medical training sans information overload. Moreover, there is a need to increase diversity in medical education in order to improve patient outcomes.

Advanced Healthcare Technology Leverages National Advisory Support and Operational Timelines

The American Medical Association is gaining popularity for accelerating change in the medical education sector. Innovation grant programs are rewarding undergraduate and graduate medical education faculties with the help of financial support in order to transform the field of medical education. Such programs are increasing the availability of medical professionals that can adapt in the ever-evolving healthcare industry. Stakeholders in the medical education market are boosting their credibility credentials by receiving financial support from healthcare organizations.

Advanced healthcare technology is acting as a key driver for growth of the medical education market. For instance, Sling Health— a student-run biotechnology incubator is actively working with trainees to build local entrepreneurial ecosystems to bring together the necessary resources for medical technology development. Student founders at new medical clinics help to leverage national advisory support and adhere to operational timelines.

Collaborative and Game-based Teaching Methods Contribute toward Digitalized Healthcare Systems

The proliferation of advanced technology and artificial intelligence (AI) in the medical education market is helping stakeholders branch out their revenue streams. Digitalized healthcare systems are becoming increasingly commonplace for both patients and physicians in order to increase accessibility toward biomedical information. As such, AI is helping to reduce efforts required by physicians to interpret digital data and improve their efficacy in diagnosis and prognosis.

The hyper-connected network of the Internet is benefitting digital learners. Hence, companies in the medical education market should innovate in mobile apps and online education portals to commercialize the concept of online classrooms. Moreover, game-based learning and collaborative teaching methods are transforming the delivery of medical content. Thus, educators need to employ suitable teaching strategies to engage and hold the attention of students.

Based on mode of training, the global market has been categorized into on-campus, distance, and online. The on-campus segment accounted for major share of the global medical education market in 2020. The segment is anticipated to expand at a high CAGR during the forecast period, owing to a rise in the demand for medical education across the world. In terms of education providers, the global medical education market has been divided into school of medicine, government/military organization, hospitals, insurance & co., non-profit organization, publishing or education company, molecular genetic methods, and others.

Based on application, the global medical education market has been split into cardiovascular diseases, diabetes, cancer, hypertension, infections, bronchitis, dehydration, sleep disorder, weight management & fitness monitoring, and others. The cardiovascular diseases segment held significant share of the global medical education market in 2020. In terms of delivery method, the global medical education market has been segregated into Internet enduring materials, courses, regularly scheduled series, and other enduring materials. The courses segment held significant share of the global medical education market in 2020.

Medical Education Market: Prominent Regions

  • North America held major share of the global medical education market in 2020. Presence of key players and growth strategies adopted by these players are the factors driving the medical education market in the region.
  • Asia Pacific accounted for the second largest share of the global medical education market in 2020. Growth of the medical education market in Asia Pacific can be attributed to well-developed healthcare sector in the region. The medical education market in Asia Pacific is likely to expand at a rapid pace during the forecast period.
  • Development of medical education are major factors that are anticipated to fuel the medical education market in the region

Key Players

  • Key players are expanding their footprint to consolidate their positions in the global medical education market due to lucrative opportunities to key players to increase their share in the global medical education market. Hence, manufacturers are engaging in new development, collaborations, and distribution to gain market share
  • Leading players operating in the global medical education market include Apollo Hospitals, Gundersen Health System, Olympus Corporation, Tact Academy for Clinical Training, Zimmer Biomet Holdings, Inc., GE Healthcare, American College of Radiology, Healthcare Training Institute, New Jersey, Harvard Medical School, the Johns Hopkins University, Stanford University, CAE Healthcare, and Siemens Healthineers AG

Market Segmentation                                                                                                                         

By Type of Training

  • Cardiothoracic Training
  • Neurology Training
  • Orthopedic Training
  • Oral and Maxillofacial Training
  • Pediatric Training
  • Radiology Training
  • Laboratory Training
  • Other

By Mode of Training

  • On-campus
  • Distance
  • Online

By Education Providers

  • School of Medicine
  • Government/Military Organization
  • Hospitals
  • Insurance & Co
  • Non-profit Organization
  • Publishing or Education Company
  • Molecular Genetic Methods
  •  Others

By Delivery Method

  • Internet Enduring Materials
  • Courses
  • Regularly Scheduled Series and Other enduring Materials

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of the Europe
  • Asia Pacific     
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Report Scope

The Medical education market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Medical education market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Medical education market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical education market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical education market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Medical education capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Medical education by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical education market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical education market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical education market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Medical education industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Medical education market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical education market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical education market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical education market. These factors have benefited the growth of the global market for Medical education. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical education. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Medical education are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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