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The nursing education market in the US is estimated to grow at a CAGR of 21.12% between 2022 and 2027 and the size of the market is forecast to increase by USD 65.65 billion. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by type (graduate courses and postgraduate courses) and end-user (hospitals and home healthcare services). This report also includes an in-depth analysis of drivers, trends, and challenges.
The rising demand for competency-based learning is notably driving the demand for US nursing education market during the forecast period. Competency-based education (CBE) is a substitute for time-based methods for preparing health professionals like nurses and developing educational programs. Nursing education systems can improve the efficiency and efficacy of their mission by focusing on competency-based education and performance standards for all nursing practitioners.
Competency-based learning entails a variety of instructional, assessment, grading, and academic reporting systems that culminate in students demonstrating their knowledge and skills as they progress through their education. It has made its way into the healthcare industry in recent years. This is due to the growing need to hire and retain the most qualified and skilled workers. As a result, healthcare organizations and hospitals are focusing on providing evidence-based training to both new nurses and experienced nurses who want to advance their careers.
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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.
Azusa Pacific University: The university offers master of science in nursing education program which gives comprehensive preparation for teaching nursing in academic and clinical settings.
The nursing education market in US 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.
Based on the type, the market share growth by the graduate courses segment will be significant during the forecast period. The market for graduate nursing programs in the United States is expected to expand rapidly during the forecast period. This is due to an increase in the number of students enrolling in undergraduate and graduate programs at various nursing schools in order to specialize in their areas of interest. These courses provide students with theoretical as well as practical knowledge, and they have a significant impact on the hiring process.
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The graduate courses segment was valued at USD 11.37 billion in 2017 and continue to grow by 2021. A growing geriatric population in the country in need of competent nursing students also contributes to continued enrollment in graduate nursing programs. These nursing students must have broad and extensive practical and theoretical knowledge before entering a specialty where they must deal with real-life patients suffering from chronic diseases and illnesses. Moreover, the presence of numerous nursing schools in the United States offering full-time courses in various advanced fields is expected to spur the growth of the nursing education market in the United States. Such factors will increase segment 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 increasing use of AR/VR in nursing education is a new trend in the US nursing education market. Incorporating technology into nursing curricula increases productivity and improves student experiences by utilizing active learning and interactive learning designs. The advancement of augmented, mixed, and virtual reality simulations allows for application-specific concentration. Using these facts may shorten the learning curve, reduce practice time, and improve learning outcomes. Augmented or mixed reality tools, such as Microsoft HoloLens, and virtual simulations, such as vSims, developed in collaboration with Laerdal, Wolters Kluwer Health, and the National League for Nursing, have already been implemented in nursing programs in the United States to improve existing teaching-learning practices.
AR/VR is also increasingly being used in medical and nursing schools to instruct and educate young students. Augmented reality augments a live view with digital elements by using the camera on a smartphone. Virtual reality is a completely immersive experience that completely replaces the real world. The AR/VR platform allows nursing students to learn and comprehend various medical education topics interactively.
The lack of assessment metrics is a major challenge that may hinder the US nursing education market growth during the forecast period. The quality of the education a learner receives is determined by the metrics or criteria developed for the course. Individual competence is also determined by these criteria. Stakeholders in nursing education, however, have focused solely on passing rates for the original National Council Licensure Examination (NCLEX). However, there is a lack of metrics for judging nurse performance. This is one of the main factors expected to slow down the market growth in the next few years.
Moreover, standardized approaches or common metrics for evaluating learning outcomes are relevant and, in many cases, are required in any practical discipline. To attract students and hospitals or healthcare organizations to hire resources for suitable positions, evaluations that assess not only students' knowledge gain but also their ability to apply the learned concepts while handling patients are required. Students may lose interest in the profession if such robust assessment measures and evaluation methodologies are not available. As a result, enrollments are low, which is expected to have a negative impact on market growth 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 Nursing Education Market in US: Customer Landscape
The nursing education market in US 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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Nursing Education Market Scope in US |
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Report Coverage |
Details |
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Page number |
120 |
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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 21.12% |
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Market growth 2023-2027 |
USD 65.65 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
20.75 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Azusa Pacific University, Columbia University, Emory University, NYU Rory Meyers College of Nursing, PLATTCOLORADO, Rush University, The Board of Trustees of the University of Illinois, THE JOHNS HOPKINS UNIVERSITY, The Ohio State University, The University of Iowa, University of California, University of Maryland School of Nursing, University of Pennsylvania School of Nursing, University of Pittsburgh, UNIVERSITY OF VIRGINIA, University of Washington, UT Health San Antonio School of Nursing, WEB WOC Nursing Education Program, Western Carolina University, and Yale University |
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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, and market condition analysis for the 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 Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 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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