The global medical education market is teeming with potential opportunities, thanks to the expanding field of medical sciences. The increasing technological innovations, fueled by the rising prevalence of various types of cancers and other chronic diseases, are also projected to boost the medical education market across the world in the coming years.
According to a research report by Transparency Market Research (TMR), the worldwide market for medical education, which offered an opportunity worth US$25.9 bn in 2015, will progress at a CAGR of 4.30% during the period from 2016 to 2024 and reach a value of US$38.4 bn by the end of 2024.
Growing Prevalence of Cardiovascular Disorders to Boost Need for Cardiothoracic Training
Medical education includes several types of training, such as cardiothoracic, pediatric, orthopedic, neurology, radiology, oral and maxillofacial, and laboratory training. Led by the growing prevalence of cardiovascular disorders, specifically coronary blockages, the cardiothoracic segment emerged as the market leader in 2015.
As cardiothoracic training is highly effective in treating cardiovascular disorders and minimizing side-effects related to percutaneous coronary intervention (PCI), such as restenosis and thrombosis, the segment is likely to continue its leading streak over the next few years. The radiology training segment is also expected to witness a strong rise across the world in the years to come.
Online Education to Gain Impetus from Advent of E-learning Technologies
Predominantly, medical education can be gained through on-campus, online, and distance learning. Among the three, online education registers the maximum popularity across the world and, owing to this, it offers a lucrative growth opportunity to players operating in the global medical education market.
The increasing exposure to modern technologies and the rising penetration of the internet, worldwide, has influenced the preference of students towards online education. The benefits offered by online training, such as cost efficiency, variation in educational and training programs, convenient learning programs, and a number of opportunities to improve technical skills are also fueling the demand for online education among students. In addition, the advent of e-learning technologies in emerging economies is expected to create a new revenue stream for market participants in the coming years.
North America to Remain Global Leader due to Well-established Medical Education Sector
The global market for medical education is mainly spread across Europe, Asia Pacific, North America, and the Rest of the World. In 2015, North America emerged as the leading contributor to this market and was closely followed by Europe in terms of revenue. As the region boasts of a robust healthcare infrastructure and a well-established medical education sector, it is likely to retain its position over the forthcoming years. The continual advancements in technologies and the rising awareness level of consumers are expected to present attractive prospects for growth of this market in North America in the near future.
Browse the full Global Medical Education Market report at : http://www.mrrse.com/medical-education-market
Asia Pacific is also projected to experience steady growth in the market for medical education over the next few years. The evolving healthcare infrastructure, the rising count of researchers in the medical field, and the increasing number of government initiatives to provide economic relief to medical students are likely to improve the medical education scenario in this region in the years to come.
On the forefront of the global medical education medical market are Apollo Hospitals, Zimmer Biomet Holdings Inc., TACT Academy for Clinical Training, Olympus Corp., Medical Training College, Gundersen Health System, and GE Healthcare.