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The medical publishing market size is projected to reach USD 14.00 billion by 2028, and will grow at a CAGR of 2.97% from 2023 and 2028. The accelerated growth of the market is due to various factors, including a rise in digital publishing, the growing popularity of social media and an increase in the number of clinical trials.
Analysis Period | 2018-2028 |
Market Size (2018) Historic Year | USD 11.02 billion |
Market Size (2028) - Forecasted Year | USD 14.00 billion |
Historic Opportunity (2018-2022) | USD 0.79 billion |
Historic CAGR | 1.75% |
Forecasted Opportunity (2024-2028) | USD 1.91 billion |
Market Opportunity Transformation Growth | 27.04% |
Market Opportunity Capitalization | USD 2.70 billion |
The research report on the medical publishing market offers industry forecasts and segmentation based on Type which comprises an open access model, and subscription-based model. It also segments the market by Product, which includes journals, E-books, and print books. Geographically, the report covers North America, Europe, APAC, South America, and Middle East and Africa. The market size, historical data for 2018-2022, and future forecasts are presented in terms of value (in USD billion) for all these mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing popularity of social media is notably driving the market growth. The increasing penetration and use of mobile computing devices such as smartphones, tablets, and laptops are changing the way medical journals and books are accessed. Medical associations and societies primarily use social media channels to promote their research findings and journals. Social media channels aimed at researchers, such as Mendeley Ltd. (Mendeley), ResearchGate GmbH (ResearchGate), and Academia Inc., provide quick and easy access to medical journals and help in getting immediate feedback from users and peers. Social media channels allow medical researchers to share information about their journals and publications. Healthcare professionals can access articles shared online for no subscription fee. This enables healthcare professionals to engage in public health and policy discussions and develop professional networks to discuss healthcare services.
For instance, the European Respiratory Society uses social channels to promote its scientific and medical work. Thus, the increasing use of social channels by medical researchers and associations to share medical articles or journals, along with the increasing popularity of social media, will drive the growth of the global medical publishing market during the forecast period.
Increasing use of general-purpose search engines is an emerging trend shaping the market growth. The internet has become one of the most important sources for accessing healthcare-related information. Search engines such as Google, Yahoo!, and Bing are being used by healthcare professionals to find research journals related to drug discovery, drug testing drugs, procedures, treatments, and diagnostics. Medical practitioners regularly face the issue of information accessibility during medical practice. Search engine platforms, with blogs, comments, reviews, and question-and-answer elements, are the most preferred channels by medical professionals for information gathering. However, the usability, quality, and effectiveness of various search engines for medical information have not been widely evaluated and compared.
However, currently, most of the journals, articles, and research papers are available online. Therefore, access to electronic journals is also increasing. OA, online availability, and social media help researchers in selecting an appropriate publication, which significantly increases the reach of content to a broader audience. This will have a positive impact on the growth of the medical publishing market during the forecast period.
The rapid growth of predatory publishers is a significant challenge hindering market growth. Predatory publishers, such as OMICS Publishing Group, refer to low-quality publishers that publish questionable scientific content without peer review solely to gain profit. The OA model helps the healthcare community by providing researchers access to research journals free of cost. It also benefits authors as their research papers are immediately available for reading and citation.
However, predatory journals misuse the OA business model. They exploit the willingness of authors to publish their journals without a thorough peer-review process. Predatory publishers build websites and spam thousands of potential authors. Therefore, the rapid growth of predatory publishers will hinder the growth of the medical publishing market during the forecast period
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Medical Publishing Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
American Medical Association - The company offers medical publishing that helps to explore the latest in medicine including coronavirus (COVID-19) science, blood pressure guidelines, sepsis definitions, autism and cancer science, and more.
The research report also includes detailed analyses of the competitive landscape of the market and information about 19 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The open access model segment is estimated to witness significant growth during the forecast period. Open access is a publishing model that makes research information available to readers free of cost, unlike the traditional subscription model, in which readers have access to scholarly information by paying a subscription or fee.
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The open access model segment was the largest and was valued at USD 8.30 billion in 2018. The open-access model includes research that is digital, free to access, and free from most of the copyright and licensing restrictions found in traditional journal publishing. Several companies in medical publishing have introduced mobile applications to offer digital content across various devices via the open access model. Also, publishers are continuously adding e-book collections that are designed for biomedical libraries and medical educational institutions with open access. Through medical e-book collections, users can access the latest information easily and quickly. These devices help doctors, medical research scientists, and scholars access enormous resources from anywhere and at any time. These factors will drive the growth of the open access model segment of the medical publishing market during the forecast period.
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North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America leads clinical trials and research, with the requirement of high-quality, timely, and actionable healthcare systems and the availability of patient data. The region is experiencing high investments in clinical trials and research due to the increasing prevalence of diseases across the world. The US government is investing in clinical trials and research to provide effective pharmaceutical treatment with low side effects.
In addition, the growing investments in medical research and trials are leading to a large number of publications to fill the gap between research and practice. Healthcare service providers can use the information for improved treatment and care to patients by publishing the results of clinical trials and medical research. Therefore, such factors are expected to drive the regional market growth during the forecast period.
The medical publishing market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Medical Publishing Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.97% |
Market Growth 2024-2028 |
USD 1.91 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.51 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 47% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Medical Association, athenahealth Inc., BMJ Publishing Group Ltd., Charlesworth Publishing Services Ltd., Crimson Interactive Pvt. Ltd., EBSCO Information Services, Hearst Communications Inc., Informa PLC, International Business Machines Corp., John Wiley and Sons Inc., Massachusetts Medical Society, McGraw Hill LLC, MDPI, OMICS International Pvt. Ltd., RELX Plc, Springer Publishing Co., Australian Medical Association Ltd., Thieme Medical Publishers Inc., and Wolters Kluwer NV |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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