Medical Education Market to become worth US$38.4 billion by 2024 – Transparency Market Research

12/10/2018, 3:45 PM (Source: GlobeNewswire)

Albany, New York, Dec. 10, 2018 (GLOBE NEWSWIRE) -- As per the research study by TMR, in 2015, the global medical education market stood at US$25.9 bn. The market is anticipated to reach a value of US$38.4 bn by 2024, registering 4.30% CAGR between 2016 and 2024.

The global market for medical education is developing at a healthy pace over the next few years. The rising penetration of internet across the developing economies is likely to enhance the development of the medical education market in the near future. In addition to this, the rising support from governments and the rising awareness among people considering medical education are estimated to enhance the market growth in the next few years.

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Rising Number of Medical Institutes to Ensure Market Development

  • The rising cases of cardiovascular diseases resulting in a high demand for treatments is projected to ensure the development of the global medical education market in the next few years.
  • A significant rise in the number of institutes in the e-learning sector, particularly in emerging economies is another factor that is estimated to ensure the growth of the market in the next few years.
  • In addition to this, the increasing research activities is likely to accelerate the development of the medical education market in the near future.

On the contrary, the lack of internet connection in emerging economies is expected to inhibit the development of the market in the next few years. Moreover, the high cost of education is considered to be another main factor that is expected to hinder the growth of the market in the coming years.

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Rising Consumer Awareness to Drive Medical Education Market in Near Future

The North America market for medical education is expected to attain a huge share over the next few years. The rising awareness among people and the existence of several prominent players are projected to encourage the development of the market in the next few years. The key players in the market are likely to invest substantially in the coming years, which may further accelerate the growth of the market in the near future. Europe is expected to ensure a healthy growth rate over the coming years. The increasing healthcare expenditure and the development of the medical sector are anticipated to enhance the growth of the medical education market across Asia Pacific in the coming years.

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The global market for medical education has showcased a competitive environment and is projected to remain in the similar situation over the next few years. The increasing participation of players and the growing investments in this field are projected to strengthen the competitive landscape of the market in the coming few years. Mergers and acquisitions and collaborations in the market are estimated to enhance the growth of the market in the near future. Some of the leading players engaged in the medical education market across the globe are TACT Academy for Clinical Training, Medical Training College, GE Healthcare, Apollo Hospitals, Olympus Corporation, Gundersen Health System., and Zimmer Biomet Holdings, Inc.

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