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The medical education market size is estimated to grow at a CAGR of 17.51% between 2022 and 2027 and the size of the market is forecast to increase by USD 208.73 billion. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by learning method (blended learning and online learning), courses (graduation courses, certifications and training, and post-graduate courses), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The medical education market report also includes an in-depth analysis of drivers, trends, and challenges.
The growth in the number of online medical education programs is the key factor driving the growth of the market. Medical professionals are increasingly replacing traditional physical classrooms and using online training modules. Compared with traditional medical education, online medical courses prove to be beneficial as they facilitate specific medical stream courses and provide access to various course materials and online assessments for both instructors as well as learners. Online learning mostly comprises recorded videos and online learning and assessment tools (accessible using an online platform), along with various reading materials that can be accessed over the internet.
Moreover, by using online tools, educators have easy access to real-time data on students' progress based on test scores and student activities. Therefore, online medical education programs are becoming largely popular in the market and are expected to drive the growth of the market during the forecast period.
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Vendors 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.
Mayo Clinic: The company offers medical education such as hypothesis-based research. Also, the company offers gastrointestinal bleeding treatment that includes nasogastric lavage, angiography, balloon-assisted enteroscopy, flexible sigmoidoscopy, capsule endoscopy, and colonoscopy.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
North America is estimated to contribute 35% 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.
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Medical colleges and schools in the region, particularly in the United States, are using blended learning methods, shifting their focus from improving content to improving learning processes and educational outcomes. For example, the University of California has created hundreds of medical curriculum videos that were developed with the help of its faculty and Technology Enhanced Education (TEE) team. The teaching of medical courses is incorporated into the curriculum as a blended learning strategy so that students can learn at their own pace and in their own time. This blended learning method uses VR and AR technology to enhance student learning. It also helps assess student performance throughout the course. Due to these advantages, the market in this region is expected to grow rapidly during the forecast period.
Based on the learning method, the market is segmented into blended learning and online learning. The market share growth by the blended learning segment will be significant during the forecast period. Blended learning in medical degree programs improves learning outcomes and assesses factors that influence learning behavior, knowledge, and academic activity. Blended learning includes classroom learning as well as a variety of teaching methods such as recorded lectures, pre-class videos, online tutorials, and online assessments. Such factors will increase segment growth during the forecast period.
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The blended learning segment was valued at USD 67.88 billion in 2017 and continue to grow by 2021. Blended learning allows students to experience real-life medical situations by integrating VR and AR into medical education. This includes gamification to improve the teaching and training environment in class. Most often, gamification is used in the medical field to create quizzes that assess a student's knowledge. Various medical institutions offer medical education that integrates AI, AR, and VR technologies. Such factors will increase the market growth during the forecast period.
Our researchers analyzed the data with 2022 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 significant market trend in the medical education market is a rise in organic growth. Medical institutes are introducing new medical courses and platforms, both in traditional and online patterns, to encourage student participation and enrollment in the medical field. The medical school is equipped with realistic simulations in its medical curriculum and adopts AR technology for teaching methods.
In February 2019, New York University announced the opening of three-year medical schools in the US. These schools will focus on training primary care physicians. Therefore, the launch of new medical courses and the expansion of universities are likely to increase the number of student enrollments in the market, thereby positively influencing the growth of the global medical education market during the forecast period.
One of the key challenges affecting the market growth of the medical education market is the threat from open-source and free educational resources. The presence of free and open-source education resources poses a huge threat to the growth of the market. Several vendors in the market offer open-source medical courses that are free of cost. Therefore, students who cannot afford a paid education opt for such free services offered by various open-source vendors. A significant amount of time, money, and resources are associated with developing content for e-learning courses.
Similarly, the cost of developing online courses increases with the complexity of the content, especially in medical education. Due to the high medical college tuition costs, students often opt for loans to pay for medical courses. Therefore, the rising cost of medical education, along with the rise in the number of student debts, is expected to hamper the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market 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 Education Market Customer Landscape
In 2020, the COVID-19 pandemic had a negative impact on the medical education market in North America. However, in 2021, the easing of lockdowns due to the large-scale vaccination drives in countries across North America, coupled with increasing government investments toward the development of educational infrastructures, led educational institutions, including medical colleges and universities, to resume their activities offline alongside the online medium. This will drive the growth of the regional medical education market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Medical Education Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.51% |
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Market growth 2023-2027 |
USD 208.73 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
16.33 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key countries |
US, Canada, Australia, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
All India Institute of Medical Sciences, KP Bernard J. Tyson School of Medicine, Mayo Clinic, National University of Singapore, Siemens Healthineers AG, TTUHSC, University of California, University of Cambridge, University of Eastern Finland, University of New England, University of Oxford, University of Washington, Western Governors University, Yale University, Grand Canyon University, Harvard Medical School, Johns Hopkins University, New York University, Stanford University, The University of Alabama, and University of Liverpool |
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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 forecast period. |
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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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Learning Method
7 Market Segmentation by Courses
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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