Medical Education Market Value to Reach to US$ 38.4 Billion by 2024

With a few players at expense, the global medical education market reports a highly competitive business landscape. According to a new research study by Transparency Market Research (TMR), Apollo Hospitals have been the market leader since many years and is expected to remain leading in the near future, thanks to its extensive course portfolio and strong market penetration. TACT Academy for Clinical Training, Olympus Corp., Gundersen Health System, Zimmer Biomet Holdings Inc. (Zimmer Institute), Medical Training College, and GE Healthcare are some of the other prominent players operating in this market, states the research report.

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“The opportunity in the global market for medical education was US$25.9 bn in 2015. Expanding at a CAGR of 4.30% during the period from 2016 to 2024, the market is projected to reach a value of US$38.4 bn by the end of the forecast period,” says an analysts at TMR. Based on the type of the training, the cardiothoracic segment lead the global market and is projected to continue dominating in the years to come. Currently, on-campus mode of education is preferred among trainees; however, the demand for online mode of education is likely increase significantly in the years to come.

Geographically, the global market for medical education has reported its presence across Europe, North America, Asia Pacific, and the Rest of the World. Among these, North America has emerged as the market leader and is closely followed by Europe. With a well-established infrastructure in terms of medical education and healthcare, the region is anticipated to retain its dominance throughout the forecast period.

The region holds immense potential for the growth of the market for medical education on the grounds of the timely technological upgrades, augmented awareness among patients, and the constant evolution of information technology, reports the market study.

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Primarily, the significant rise in online education, thanks to the ease it offers to students, has reflected positively on a number of areas in the education industry, with the medical education sector being the most prominent one. “Currently, the online education industry has surfaced as lucrative investment avenue,” states a TMR analyst. With the increasing exposure to modern technologies across the world and the escalating penetration of the Internet, the inclination of students towards online education, has influenced to great extents, which subsequently, has also reflected in the growth of the global medical education market.

Going forward, the advent of various e-learning industries in emerging economies will create lucrative opportunities for players in the global market for medical education over the next few years. However, the high cost associated with higher education, particularly in developed nations, may hamper the growth of this market in the years to come, states the research report.

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