Healthcare Education Market worth $164.6 billion by 2028

Healthcare Education Market in terms of revenue was estimated to be worth $108.7 billion in 2023 and is poised to reach $164.6 billion by 2028, growing at a CAGR of 8.6% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The global shortage of healthcare professionals, particularly in specialized areas, drives the need for innovative educational solutions. The scarcity of healthcare personnel has prompted organizations to invest in technology-driven solutions such as virtual reality (VR) and augmented reality (AR) simulations, online courses, and mobile applications to bridge the gap in knowledge and skills. These solutions offer flexible and accessible learning options, enabling healthcare professionals to enhance their expertise regardless of geographical constraints. Language barriers, cultural differences, and varying educational systems can also pose barriers to market entry and expansion.

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The companies have an extensive market presence across multiple countries in North America, Europe, Asia Pacific, and the Rest of the World. The outbreak of the COVID-19 pandemic brought about a significant shift in the education landscape, compelling educational institutions to swiftly transition to online learning. Similarly, working professionals were required to adapt to remote work arrangements. Consequently, numerous events, workshops, and conferences were postponed or canceled. This unprecedented situation led to a surge in adopting electronic education (E-education) platforms, including digital conferences, webinars, medical blogs, and social media.

Providers are responsible for launching newer educational solutions and improving the market scenario.

In 2022, the universities and academic centers segment held the largest market share of the healthcare education market. The emergence of interprofessional education (IPE) is revolutionizing collaboration and teamwork within universities and academic centers. Recognizing the importance of interdisciplinary skills, institutions promote IPE by bringing together students from various healthcare disciplines. This approach fosters a comprehensive understanding of healthcare practices, encourages effective communication, and enhances teamwork, all of which are critical for providing complete, patient-centered care.

E-Learning solutions have established the highest CAGR in the delivery mode segment of the healthcare education solution market.

The gamification of e-learning solutions is revolutionizing learner engagement and motivation. By incorporating game elements, such as points, badges, leaderboards, and challenges, e-learning platforms make the learning process interactive, enjoyable, and competitive. Gamification enhances learner motivation, encourages active participation, and improves knowledge retention, thereby revolutionizing the way healthcare professionals engage with educational content.

North America To Witness Significant Growth From 2020 To 2025

In 2022, North America held the largest market share for the healthcare education market. North America's growing emphasis on interprofessional education and collaborative care models drives the need for healthcare education solutions. The region recognizes the importance of teamwork and communication among healthcare professionals for delivering optimal patient care. This emphasis promotes the adoption of healthcare education solutions that facilitate interprofessional collaboration and enhance interdisciplinary skills.

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Healthcare Education Market Dynamics:

Drivers:

Increasing adoption of digital learning

Restraints:

Unreliable infrastructure in most developing countries

Opportunities:

Increasing adoption of adaptive learning

Challenges:

Lack of skilled trainers and instructors

Key Market Players:

Some of the prominent players operating in the healthcare education market are Stryker (US), SAP (Germany), Adobe (US), Infor (US), Oracle (US), HealthStream (US), Symplr (US), Elsevier (Netherlands), Articulate (US), PeopleFluent (US), Fujifilm Corporation (Japan), GE Healthcare (US), Trivantis Corporation (US), Koninklijke Phillips (Netherlands), Siemens Healthineers (Germany), Coursera (US), and IBM (US).

Recent Developments:

In 2023, HealthStream (US) acquired Electronic Education Documentation System, LLC (US), which will expand Healthstream's ecosystem by introducing a cutting-edge, cloud-based continuing education management system for healthcare organizations, delivering innovative solutions in the form of Software-as-a-Service (SaaS).

In 2023, GE Healthcare (US) collaborated with DePuy Synthes (US) to expand the availability of GE Healthcare's OEC 3D Imaging System alongside DePuy Synthes' comprehensive product portfolio, providing increased access to surgeons and benefiting more patients throughout the United States.

In 2023, Koninklijke Philips N.V (Netherland) partnered with TriHealth (US). TriHealth will implement Philips' comprehensive portfolio of cardiology solutions at the TriHealth Heart & Vascular Institute located at Bethesda North Hospital and the Harold and Eugenia Thomas Comprehensive Care Center. This partnership enables TriHealth to enhance cardiac care while upholding its commitment to delivering high-quality healthcare, fostering community well-being, promoting collaboration with physicians and providers, and supporting the education of future healthcare professionals.

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This release was published on openPR.