Medical Education Market to Expand at ~5% CAGR during Forecast Period: TMR Study
2022-09-26
It is envisaged that the delivery of medical education will be improved by multidisciplinary approaches incorporating public reporting, improved efficiency, and informatics
Growing demand for interactive media for high-quality education and growing necessity for online evaluation & testing are expected to bolster expansion of the global medical education market
WILMINGTON, Del., Sept. 26, 2022 /PRNewswire/ -- As per TMR study, in 2019, the value of global medical education market clocked at US$ 32 Bn. The global market is projected to progress at ~5% CAGR during the forecast period, from 2020 to 2030. By 2030, the medical education market is estimated to touch value of 56.9 Bn. The American Medical Association is becoming more well-known for driving progress in the field of medical education. Both graduate and undergraduate medical education faculties are being rewarded with innovation grant schemes to improve the medical education sector. North America is expected to be the fastest growing market for medical education during the forecast period.
These initiatives are expanding the pool of medical specialists who can adapt to the rapidly changing healthcare landscape. By getting financial support from various healthcare organizations, market participants are increasing their trustworthiness. The market for medical education is expanding as a result of advanced healthcare technologies.
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For digital learners, the Internet's extensively linked network has proven to be advantageous. Thus, to monetize the idea of online classrooms, businesses in the medical education sector need innovate in online education portals and mobile apps. Online classrooms are estimated to be the largest revenue generator in medical education market. Additionally, the delivery of medical knowledge is changing as a result of collaborative teaching and game-based learning techniques.
Key Findings of Market Report
Leading players in the medical education market are able to diversify their sources of income owing to increasing adoption of cutting-edge technologies and AI, which are expected to be recent developments in medical education market. In order to improve accessibility to biological information, digitalized healthcare systems are spreading more widely among patients and professionals. As a result, AI is assisting in lessening the effort needed by doctors to analyze digital data and enhancing their effectiveness in prognosis and diagnosis.
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The necessity to remove duplicate content from the curriculum, according to medical educators, is strongly suggested. In order to avoid information overload, healthcare institutions in the medical education industry are revising the curriculum and introducing innovative programs. Additionally, in order to enhance patient outcomes, there is a requirement to diversify medical education. The outcomes for patients are improved via curriculum redesign and also team-based treatment, which is further expected to drive future market demand for medical education.
A recent study by the Rockpointe Corporation in the U.S. found that medical education had been very successful in teaching and assisting physicians in making important decisions for their patients based on the best available evidence. According to research, doctors who took part in medical education activities often had a beneficial impact on those who went, as opposed to those who did not. Medical education plays a significant role in the acceptance of evidence-based medicine.
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Global Medical Education Market: Key Players
Some of the key market players are
Tact Academy for Clinical Training
Apollo Hospitals,
Global Medical Education Market: Segmentation
Type of Training
Cardiothoracic Training
Orthopedic Training
Oral and Maxillofacial Training
Pediatric Training
Radiology Training
Others
Mode of Training
On-campus
Online
Education Providers
School of Medicine
Government/Military Organization
Hospitals
Publishing or Education Company
Molecular Genetic Methods
Others
Internet Enduring Materials
Courses
Regularly Scheduled Series and Other Enduring Materials
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