Medical Education Market to expand at 4.3% CAGR from 2016 to 2024

According to a new market report published by Transparency Market Research “Medical Education Market (Type of Training – Cardiothoracic, Neurology, Orthopedic, Oral and Maxillofacial, Pediatric, Radiology, and Laboratory; Mode of Education – On-campus, Distance, and Online) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024,” the global medical education market was valued at US$ 25.9 Bn in 2015 and is projected to expand at a CAGR of 4.3% from 2016 to 2024 to reach of US$ 38.4 Bn in 2024.

Medical education is witnessing rapid transformation from conventional teaching to technologically updated systems. Medical education ensures better training and professional guidance for a better life and helps to eradicate all health related problems. Geographically, the medical education market has been studied for four major regions: North America, Europe, Asia Pacific, and Rest of the World.

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Rising prevalence of lifestyle diseases such as cancer, diabetes, and cardiovascular disorders, rapidly increasing population, and increased preference for online education are the major drivers of the global medical education market. Demand for medical education is increasing rapidly in developed nations due to well-established patient pool, government support such as scholarship programs, paid on-job training, and mounting awareness among people toward communal and personal health. The growing health care needs of the population remains unmet despite increase in the number of medical colleges across the globe in the past few years. This has created significant opportunities in the global medical education market. Additionally, emergence of e-learning in developing countries boosts the growth of the market.

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North America was the largest market for medical education in 2015, followed by Europe. Growth of the market in Europe is attributed to technological innovations, consistent introduction of new courses, and increasing health care expenditure. In addition, increased implementation of PACS systems and stable health care education policies widens the scope for growth and acceptance of medical education in this region.

Asia Pacific is witnessing increased adoption of online training for medical education. Rapidly evolving health care infrastructure, rising number of researchers in medical field, initiatives taken by government organizations to provide scholarship and economic relief to medical students, and presence of a large pool of patients suffering from various types of cancer and cardiovascular diseases in countries such as India and China are the other factors driving the market in the region.

Key players profiled in the medical education market report include Apollo Hospitals, GE Healthcare, Gundersen Health System, Medical Training College, Olympus Corporation, TACT Academy for Clinical Training, and Zimmer Biomet Holdings, Inc. (Zimmer Institute). TACT Academy for Clinical Training is a promising academy for clinical training with collaborations with leading national and international organizations such as the Indian Medical Association, the Peter M. Winter Institute for Simulation Education & Research (WISER) at the University of Pittsburgh Medical Center, and the USA & Chinese University of Hong Kong. Moreover, the institute is accredited by the American Heart Association (AHA) to be an International Training Centre (ITC).

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This release was published on openPR.