Global Medical Education Market

Global Medical Education Market Size, Share, Growth Analysis, By Provider(Universities, Academic Centres), By Delivery Mode(Classroom-based, E-Learning), By Application(Cardiology, Neurology), By End-user(Students, Physicians), By Training(Cardiothoracic Training, Neurology Training) - Industry Forecast 2023-2030


Report ID: SQMIG35D2019 | Region: Global | Published Date: February, 2024 | Pages: 236 | Tables: 151 | Figures: 67

Global Medical Education Market Insights

Medical Education Market size was valued at around USD 43.45 billion in 2021 and is expected to reach a value of USD 65.92 billion by 2028, at a CAGR of 6.6% over the forecast period (2022–2028).

This market's growth is being attributed to rise of numerous medical educational programs provided online. The practice of ongoing, iterative development in medical education is significant. These initiatives, however, frequently have concentrated on improving particular curriculum and courses or on restructuring within already-existing time-based frameworks.

Online training modules are being used more frequently by medical practitioners in place of conventional physical classrooms. Online medical courses are advantageous compared to traditional medical education since they facilitate particular medical stream coursework and offer online exams. Online reading resources, recorded films, learning and assessment tools are the main components of online learning. These resources can all be accessed via an online platform. Consequently, online medical education programs are growing significantly in popularity and are anticipated to propel the market's expansion.

Through the introduction of numerous new medical courses and platforms, the market for global medical education is experiencing a major increase in organic growth. To enhance student involvement and enrollment in the medical profession, medical institutes are providing new medical courses and platforms in both traditional and online patterns.

The medical school uses AR technology for its teaching methods and has realistic simulations built into its medical curriculum. In February 2019, New York University announced the beginning of three-year medical schools in the US. These institutions have put a strong emphasis on teaching family doctors. As a result, the introduction of new medical curriculum and the rise of academic institutions are projected to boost student enrollments, which will significantly impact the development of the global medical education market throughout the course of the forecast period.

Market snapshot - 2022–2028

Global Market Size

USD 43.45 billion

Largest Segment

e-leaning

Fastest Growth

e-leaning

Growth Rate

6.6% CAGR

Global Medical Education Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Medical Education Market By Delivery Mode ($ Bn)
Global Medical Education Market By Delivery Mode (%)

To get more reports on the above market click here to Buy The Report

Global Medical Education Market Segmental Analysis

Medical education market is segmented on the basis of provider, delivery mode, application, end-user, training, and region. By provider, the market is segmented into universities, academic center, continuing medical education. By delivery mode, the market is segmented into classroom-based and e-leaning. By material, the market is segmented into application cardiology, neurology, radiology, internal medicines, pediatrics, and others. By end-user, the market is segmented into students, physicians, non-physicians. By training, the market is segmented into cardiothoracic training, neurology training, orthopedic training, oral and maxillofacial, pediatric training, radiology training, laboratory, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Provider

Universities and academic centers are expected to be grow segment during the forecast period, owing to increasing number of students enrolling in medical studies and increased government investments in medical sector globally. For instance, in 2021 The Government of India has invested a total of USD 176.9 million for opening new medical colleges. Similarly, other developing countries are continuously taking steps to increase the funding in the healthcare sector which will further propel the medical education market over the forecast period.

Analysis by Delivery Mode

The e-learning segment is anticipated to anticipated to grow at a highest CAGR over the forecast period. Online education has experienced a huge increase in popularity as a result of the quick emergence of the information and communication technology era. Universities and colleges are currently seen quickly revising their curricula to make it more adaptable to the online-based system protocols which is anticipated to further propel the e-learning segment over the forecast period.

Analysis by Application

The others segment (family medicine/general practice, emergency medicine, obstetrics and gynecology) of the market is projected to hold the most substantial share in the market. This high share is attributable to the numerous factors such as increased prevalence of heart-related illnesses, efforts to organize Continuing Medical Education (CME) events, and an increase in government funding to promote young obstetrics and gynecology practitioners in accessing high-quality education and research opportunities.

Analysis by End-User

In 2021, the non-physician’s end-user segment accounted for the highest revenue dominated the medical education market. This is attributable to increasing need to provide experience in care management, better understanding, improvement in quality, and upskilling of medical knowledge of nurses, physical assistant, and others The baby boomer generation is ageing, nurses are retiring, there are more health care needs as people live longer, and nursing schools are unable to keep up with the demand. As per WHO, as of 2022 27 million women and men makes up the total nurse’s population globally. To accomplish Sustainable Development Goal (SDG) objective 3.c. on health financing and workforce, the world would require millions additional nurses which is anticipated to drive the demand of non-physicians in the market over the forecast period.

Analysis by Training

The pediatric training segment is anticipated to grow at a fastest rate. This growth is anticipated as children's growth requirements are distinct as compared to adults as a result the pediatrician plays a vital role in the healthcare sector to evaluate the health decisions for children.

Furthermore, cardiothoracic training is now more important than ever due to the high prevalence of lifestyle illnesses including obesity and hypertension that have increased the necessity for heart surgery.

Global Medical Education Market By Delivery Mode, 2021 (%)

To get detailed analysis on other segments, Request For Sample Report

Global Medical Education Market Regional Insights

Asia Pacific region dominated the medical education market in 2021 and is expected to maintain its dominance throughout the forecast period, owing to increased spending on medical infrastructure and training majorly in developing countries such as India, China, and others. Moreover, the government-mandated governing body for medical education in India, Medical Council of India (MCI), constantly reviews the current medical education policy to give it a new direction in order to make the curriculum relevant and responsive to the requirements of the country.

Furthermore, the World Federation for Medical Education (WFME) recognized the Working Committee for the Accreditation of Medical Education (WCAME) of China as the accreditation authority in 2020. The management of people's health is now China's top national strategy following the publication of the "Healthy China 2030" program, and China's reform of medical education has entered a new age.

Global Medical Education Market By Region, 2022–2028
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Medical Education Market Dynamics

Drivers

Accelerating change in medical education is fueling market growth

  • Globalization of education and the growing global healthcare market are witnessing an unprecedented impact on medical education worldwide. In the field of medical education, a number of trends have evolved, including an increase in the number of medical schools and students, student migration, growing privatization of medical schools, new models for the collaboration between medical schools globally. Globalization has positively impacted the physician development which is anticipated to accelerate the medical education growth over the forecast period.

Professional Development Opportunities for Medical Educators

  • The majority of first-year medical programs mandate that students use a blended learning approach that combines in-person lab, classroom, and lecture sessions with online learning and simulated activities as well as clinical placements or apprenticeships related to professional development. This is further anticipated to augment the need for updating the curriculum related to professional development in medical education.

Increasing number of online medical education programmes is thriving the growth of the global medical education market

  • Healthcare professionals are developing new strategies to convey students' quality education in light of the rising popularity of online learning. Mobile gadgets, simulation software, computer games, and wearable technology are a few examples of technological advancement in medical education. It is anticipated that these developments will change healthcare medical education in the next few years.

Restraints

Challenges to keep pace with advances in science and technology

  • The "technological convergence" that characterizes this trend is where a broad and constantly expanding spectrum of digital technologies—such as artificial intelligence (AI), robotics, big data, and social networking are increasingly working to produce effective new applications. At least four existential challenges are brought on by a technology-based Internet society for medical education which is witnessed to impact the growth of the market.

Continuing professional development among practicing clinicians

  • Although it is evident that continuing professional development is crucial for maintaining healthcare systems around the world, many medical professionals who work in underdeveloped countries still have difficulty getting access to continuing medical education, which is a crucial component of continuing professional development. These difficulties include a lack of resources for learning, a lack of support and incentive from employers, a lack of financial resources, and slow or unreliable internet connectivity.

Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report

Global Medical Education Market Competitive Landscape

The market participants are highly focused on developing technologically innovative products with unique specifications to differentiate themselves from the other players and gain a significant portion of the market. Furthermore, key players are also engaged in expanding continuing medical education as well as online learning methodologies to increase brand recognition. The prominent firms are investing in developing and create novel services and materials and are highly focused in forming strategic alliances and collaborating to develop next-generation solutions. For instance, in 2023 Toronto-based private equity firm DW Healthcare Partners announced that it has invested in the online medical education platform Med Learning Group (MLG). This investment focuses on developing, implementing, and evaluating online and in-person continuing education that enhances healthcare professionals' capacity to offer patients the best treatment possible.

Top Player’s Company Profiles

  • Ebix Inc.
  • Osso VR, Inc.
  • Haymarket Media, Inc.
  • Continuing Education Company
  • REMI MEDICAL EDUCATION, LLC.
  • Kenes Group

Recent Developments

  • In April 2022, OSSO VR invested about $66 million to expand the accessibility to surgical education for the healthcare professionals. Before entering a real operating room, Osso VR creates on-demand, immersive modules that let surgical teams practise alone or jointly in a virtual setting.
  • In April 2022, IQVIA and MDBriefCase collaborated to offer access to customized and specific e-learning for healthcare professionals in the South Asia, Middle East and Africa region. Through this partnership, healthcare professionals will have access to MDBC's on-demand medical e-learning offerings and engagement programs on IQVIA's healthcare professionals SpaceTM, a comprehensive networking and education hub for healthcare professionals.
  • In January 2021, RMEI Medical Education, LLC (RMEI) has received Joint Accreditation for Interprofessional Continuing Education, which is valid through November 2026. RMEI met all 12 Joint Accreditation criteria for program improvement, activity planning, evaluation, integrity, and independence, and was commended by Joint Accreditation for its leadership in lifelong learning and attainment of accreditation. RMEI also demonstrated compliance with all 12 Joint Accreditation criteria for program improvement.

Global Medical Education Key Market Trends

  • With the advent of technology, more and more medical education is being offered through online and distance learning platforms. This allows for a more flexible and accessible education, and helps reach a wider audience.
  • Current trends in the application of AI in the medical industry frequently include the augmentation and upskilling of human professionals. For instance, computer vision—cameras that can detect what they are viewing and convey the information—is added to the surgeons using augmented reality. Automating initial patient contact and triage to free up clinicians' time for more beneficial work is another important use case. To collect information on symptoms and route enquiries to the appropriate medical personnel, telehealth services like Babylon Health deploy AI chatbots that are driven by natural language processing.

Global Medical Education Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our medical education market analysis, medical education has transformed the training processes and are aiding the medical practitioners, students, non-physicians, and others in upskilling their knowledge in the field of healthcare. This will reflect a significant positive impact on the trainings of surgeons and other health care professionals such as paediatrics, nurses, and others over the coming years. Custom curriculum, online material guides and simulations will most certainly witness higher demand during the forecast period.

Report Metric Details
Market size value in 2021 USD 43.45 billion
Market size value in 2028 USD 65.92 billion
Growth Rate 6.6%
Base year 2021
Forecast period 2022–2028
Forecast Unit (Value) USD Billion
Segments covered
  • Provider
    • Universities, Academic Centres, Continuing Medical Education
  • Delivery Mode
    • Classroom-based, E-Learning
  • Application
    • Cardiology, Neurology, Radiology, Internal Medicine, Pediatrics, Others
  • End-user
    • Students, Physicians, Non-Physicians
  • Training
    • Cardiothoracic Training, Neurology Training, Orthopedic Training, Oral and Maxillofacial Training, Pediatric Training, Radiology Training, Laboratory, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Ebix Inc.
  • Osso VR, Inc.
  • Haymarket Media, Inc.
  • Continuing Education Company
  • REMI MEDICAL EDUCATION, LLC.
  • Kenes Group
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Medical Education Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Medical Education Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Medical Education Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Medical Education Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Medical Education Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Medical Education Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

SPEAK TO AN ANALYST

FAQ's

Medical Education Market size was valued at around USD 43.45 billion in 2021 and is expected to reach a value of USD 65.92 billion by 2028, at a CAGR of 6.6% over the forecast period (2022–2028).

The market participants are highly focused on developing technologically innovative products with unique specifications to differentiate themselves from the other players and gain a significant portion of the market. Furthermore, key players are also engaged in expanding continuing medical education as well as online learning methodologies to increase brand recognition. The prominent firms are investing in developing and create novel services and materials and are highly focused in forming strategic alliances and collaborating to develop next-generation solutions. For instance, in 2023 Toronto-based private equity firm DW Healthcare Partners announced that it has invested in the online medical education platform Med Learning Group (MLG). This investment focuses on developing, implementing, and evaluating online and in-person continuing education that enhances healthcare professionals' capacity to offer patients the best treatment possible. 'Medtronic', 'Enago Life Sciences', 'IQVIA Inc', 'Ebix Inc.', 'Osso VR, Inc.', 'Haymarket Media, Inc.', 'Continuing Education Company', 'REMI MEDICAL EDUCATION, LLC.', 'Kenes Group'

Globalization of education and the growing global healthcare market are witnessing an unprecedented impact on medical education worldwide. In the field of medical education, a number of trends have evolved, including an increase in the number of medical schools and students, student migration, growing privatization of medical schools, new models for the collaboration between medical schools globally. Globalization has positively impacted the physician development which is anticipated to accelerate the medical education growth over the forecast period.

With the advent of technology, more and more medical education is being offered through online and distance learning platforms. This allows for a more flexible and accessible education, and helps reach a wider audience.

Asia Pacific region dominated the medical education market in 2021 and is expected to maintain its dominance throughout the forecast period, owing to increased spending on medical infrastructure and training majorly in developing countries such as India, China, and others. Moreover, the government-mandated governing body for medical education in India, Medical Council of India (MCI), constantly reviews the current medical education policy to give it a new direction in order to make the curriculum relevant and responsive to the requirements of the country.

Speak With Our Analyst

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Medical Education Market

Product ID: SQMIG35D2019

$5,300
BUY NOW GET SAMPLE