Transparency Market Research (TMR) recently published a report on the global medical education market, which offers comprehensive information on the notable trends in the medical education market, and their impact on the business strategies adopted by key medical education market players. The study analyzes the growth scenario of the medical education market based on numerous macroeconomic and microeconomic factors. It provides incisive insights on the impact of the recent technological developments on the future of the medical education market.
The medical education market research study helps stakeholders understand the dynamics of the medical education market, which enables them to take well-informed business-related decisions. The study assesses the historical trends in the medical education market, and provides insights on how they have influenced the evolution of the medical education market.
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Global Medical Education market Witness Most Promising Rise in Demand:
CME (Continuing Medical Education) programs have emerged as a multibillion dollar enterprise in developed countries. Although these programs are slowly finding their ground in developing countries such as India, China, and Indonesia, the medical education market is yet to explore their full potential in these countries. The medical education market continues to gain strength through the rise in the number of students keen on seeking medical education, and the growing preference for online training.
Digitalization plays a key role in unlocking numerous growth opportunities in the medical education market. It is a tool to address the widening gap between new technological advancements and professional practices. Numerous healthcare facilities have mandated the completion of online training to gain professional privileges. According to research findings of the BioMedCentral (BMC) (2016), medical education offered through online platforms is likely to increase, because it provides unparalleled access to new research techniques. When looked at from a manufacturer’s perspective, it is a potential opportunity for the development of new tools with differentiated features using robust technologies.
The global medical education market was valued at nearly US$ 31 Bn in 2018, and is anticipated to reach a value of more than US$ 44 Bn by 2027, expanding at a CAGR of more than 4% from 2019 to 2027.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
Key Players of Medical Education Market Report:
The medical education market remains highly competitive with the presence of numerous local and regional players along with national and international players. Key players in the market are banking on developing new education programs and platforms as the key strategy to strengthen their footprints in the medical education market. For instance, Harvard Medical School recently hosted two days of an external education program for healthcare professionals, community members, and policy makers. This program was aimed at increasing opioid misuse awareness. Similarly, John Hopkins Kimmel Cancer Center launched the Adolescent Depression Awareness Program (ADAP). Such programs not only create awareness regarding the need for optimal medical care but give these companies an opportunity to build a brand image.
Key players are essentially capitalizing on the void in the demand and supply to expand their revenue share in the market. They are sensing opportunities in the regions with a dearth of medical facilities or healthcare professionals, striving to expand their precincts in these regions, as there is a very little scope of competition. They are using mergers, acquisitions, and partnerships as a key to penetrate regional markets and expand the medical workforce in these regions. A major chunk of collaborations in the medical education market were aimed at expanding medical services and medical education programs in underdeveloped regions.
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