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(Medical-NewsWire.com, November 11, 2022 ) Projected Surge in Revenue Generation:
The global healthcare education market is projected to reach USD 125.2 billion by 2025 from an estimated USD 101.2 billion in 2022, at a CAGR of 8.4%.
Major Growth Driving Factors:
The rising demand for digital learning, advancements in the healthcare sector, increased training needs to adapt to the changing technologies in the healthcare industry, and growing adoption of continuing medical education (CME) programs due to stringent regulatory mandates are some of the key factors attributed towards growth of the healthcare education market. However, lack of direct monitoring or face-to-face interactions is likely to pose negative impact on the market growth during the forecast period.
By provider, the universities and academic centers segment held the largest share of the healthcare education market in 2021
On the basis of provider, the healthcare education market is segmented into OEMs/pharmaceutical companies, universities and academic centers, continuing medical education (CME) providers, learning management system providers, educational platforms, and medical simulation providers. In 2021, the universities and academic centers segment captured the largest share of the healthcare education market.
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The large share of this segment is attributed to the dearth of healthcare workers across the globe, with the demand and supply gap of healthcare workers increasing. According to the Global Burden of Disease Study (2017), only half of all countries have the requisite health workforce required to deliver quality healthcare services, critical to achieving universal health coverage (UHC). As a result, most of the countries are focusing on increasing the number of medical schools and increasing the intake of medical students.
Based on delivery mode, the eLearning solutions are expected to register highest CAGR during the forecast period
Based on delivery mode, the healthcare education market is divided into classroom-based courses and eLearning solutions. Classroom-based courses segment accounted for the largest market share in 2021, while eLearning solutions are expected to witness the highest growth during the forecast period. eLearning solutions are becoming an increasingly recognized approach to continuing medical education (CME) for practical and theoretical reasons, owing to their greater flexibility in training schedules, improved accessibility and dissemination, reduced costs and time, greater adaptability to individual learning styles, and easier access to educational materials and updates.
Students segment garnered the largest revenue among the different end users of the healthcare education market
Based on end users, the healthcare education market is segmented into students, physicians and non-physicians. In 2021, the large share of the students segment can be attributed to the growing awareness of digital education and its positive impact on career growth. Increasing internet penetration and awareness of various online courses among students have led to the increased adoption of education solutions. Benefits such as cost-effectiveness, affordability, and increased flexibility offered by these solutions are expected to further drive the market growth.
Geographical Growth Dynamics:
North America is expected to dominate the healthcare education market, while registering the highest CAGR during the forecast period
The global healthcare education market has been categorized on the basis of four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2021, North America, comprising the US and Canada, held the leading share of the healthcare education market, followed by Europe. Factors such as the increasing number of CME programs and the rising number of grants and investments by public and private players are driving the market for healthcare education in North America.
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Some of the prominent players operating in the healthcare education market are SAP (Germany), Adobe (US), Infor (US), Oracle (US), HealthStream (US), HealthcareSource (US), Elsevier (Netherlands), Articulate (US), PeopleFluent (US), ADP (US), GE Healthcare (US), Trivantis Corporation (US), Cerner (US), Koninklijke Phillips (Netherlands), Siemens Healthineers (Germany), Coursera (US), and IBM (US).
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