About Medical Education
Medical education promotes a commitment to learning about the science behind the teaching and learning in medicine. It has been firmly established field including cardiothoracic, neurology, orthopedic, pediatric, radiology etc. disciplines. The asymmetric growth in medical schools is likely fostered by an increased willingness of individuals to travel for their medical education. However, the “brain drain” of trained physicians from low income to high-income settings has been well-recognized, migration for undergraduate medical education is a growing trend. For example, in the United States, the number of applicants for medical schools were estimated to be 90,000 in the year 2017. Medical schools are striving to expand their capacity to provide more avenues for medical education to aspirants across the United States
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 10.7% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Medical Education market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Harvard Medical School (United States), Johns Hopkins School of Medicine (United States), Oxford University Medical School (United Kingdom), School of Clinical Medicine, University of Cambridge (United Kingdom), Stanford University School of Medicine (United States), TACT Academy for Clinical Training (India), Zimmer Biomet Institute (United States) and Medical Training College (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Medical Education market by Type (Cardiothoracic, Neurology, Orthopedic, Oral and Maxillofacial, Pediatric, Radiology, Laboratory and Other) and Region.
On the basis of geography, the market of Medical Education has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Mode Type, the sub-segment i.e. On-campus will boost the Medical Education market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Course Type, the sub-segment i.e. Certifications and Trainings will boost the Medical Education market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid technological advances in the medical industry, Increasing gamification in medical education and Exponential increase in the number of medical schools and medical students and migration for medical education and training
Market Growth Drivers:
Development of virtual labs and Increasing government initiatives in various emerging economies such as India, China and Others
Challenges:
High cost of education in various countries across the globe
Restraints:
Lack of practical awareness in distance learning paired with high fees for classroom training
Opportunities:
Positive economic growth and vast student base coupled with rising investments in healthcare across the world and Growing spending on online education by consumers and sizeable investments
Market Leaders and their expansionary development strategies
In December 2022, McGraw acquired Ryan Medical Education LLC, d/b/a Boards & Beyond, a provider of on-demand video libraries and comprehensive online resources that help medical students efficiently learn fundamentals of medical basic sciences and clinical medicine. The acquisition expands McGraw Hill's digital capabilities and deep presence in the medical education sector.
In May 17, 2023, ScholarRx expanded its mission to create a healthier world through accessible and sustainable medical education launched the Brick Builder Grant. This grant aimed to empower educators and students worldwide to develop free and open digital learning modules, called Bricks, around underrepresented medical topics.
Key Target Audience
Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.