Global Medical Education Market

Medical Education Market Size, Share, Growth Analysis, By Mode of Education (On-campus, Online), By Delivery Method (Internet Enduring Materials, Courses), By Type of Training (Cardiothoracic Training, Neurology Training), By Education Provider (School of Medicine, Government/Military Organization), By Region - Industry Forecast 2024-2031


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

Medical Education Market Insights

Global Medical Education Market size was valued at USD 32 billion in 2022 and is poised to grow from USD 33.50 billion in 2023 to USD 48.38 billion by 2031, growing at a CAGR of 4.70% during the forecast period (2024-2031).

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.

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FAQs

Global Medical Education Market size was valued at USD 32 billion in 2022 and is poised to grow from USD 33.50 billion in 2023 to USD 48.38 billion by 2031, growing at a CAGR of 4.70% during the forecast period (2024-2031).

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. 'American College of Radiology (US) ', 'Apollo Hospitals Enterprise Limited (India) ', 'CAE Inc. (Canada) ', 'GE HealthCare (US) ', 'Gundersen Health System (US) ', 'Johns Hopkins University (US) ', 'Olympus Corporation (Japan) ', 'Siemens Healthineers AG (Germany) ', 'Stanford University (US) ', 'TACT Academy for Clinical Training (India) ', 'Zimmer Biomet (US) ', 'Harvard Medical School (US) ', 'Mayo Clinic College of Medicine and Science (US) ', 'Duke University School of Medicine (US) ', 'Medtronic Plc (Ireland) ', 'Laerdal Medical (Norway) ', 'Philips Healthcare (Netherlands) ', 'Johnson & Johnson Institute (US) ', 'Oxford Medical Simulation (UK) ', 'Edwards Lifesciences (US) ', 'RELX Group (UK)'

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.

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Global Medical Education Market

Report ID: SQMIG35D2019

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