Continuing Medical Education Market is Set to Garner Staggering Revenues by 2026

More than medical studies and housemanship, health care professionals need to keep themselves up-to-date with changes in the medical field and treatment options relevant to their area of expertise. Continuing medical education (CME) helps society by assuring that physicians, specialists, and nurses are performing up-to-date medical treatment and offering good quality care. In this modern era, various biopharmaceutical innovations have delivered innovative approaches to diagnosis, prevention, treatment, and management of illnesses. In order to transform such advancements into effective practice, doctors must regularly apprise their knowledge and skills through continuing medical education and training. Medical Professional Societies, run as not-for-profit organizations led by peers, are well placed to provide balanced, disease oriented, and patient centered education.

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CME involves educational activities helping to sustain, improve, or increase awareness, expertise, and proficient professional performance and relationships that a physician uses to provide services for patients, the public, or the profession. Continuing medical education provides doctors and other health care professionals with standard, pioneering knowledge, and skills from research through delivery of care, to progress the quality of patient supervision, not only within the university system, but also statewide, nationwide, and worldwide.

Continuing medical education accreditation is mandatory to provide CME credits that are increasingly essential for health care professionals to achieve their statutory obligations. Hence, accreditation authorities play a vital role in identifying appropriate, impartial CME programs. Most national and international CME accreditation authorities have circulated criteria for accreditation of events. Health care professionals could use accredited CME to meet requirements for certification, licensure, and membership in professional societies, credentialing, and other professional privileges. Research has shown that accredited CME is an effective tool for changing physician practice and patient care.

The goal of a continuing medical education organization is to make health care professionals aware of new research knowledge and its application to medical procedures and disease prevention.

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The medical industry has a pivotal role in the development of new, improved technology, medication, and devices. As a fact, the greatest inventions have been attained through partnership with practicing physicians, scientists, and clinical academics. The medical industry has for several years been dedicated to ensure the finest and safe application of its products by providing unlimited support of medical education developed and provided by international and national learned societies. Recently implemented Codes of Practice for the Pharmaceutical and Device industry were proposed to augment public trust in the collaboration between the biomedical industry and physicians, thereby acting as a major driver for the continuing medical education market. Unexpectedly, changes resulting from adoption of the Codes have limited the opportunity for unconditional industry support of balanced medical education in favor of a more uninterrupted participation of industry in updating physicians about their products. The collaboration between medical societies and industry in medical education is the much debated opportunity for the delivery of the continuing medical education to the physicians.

Based on delivery method, the global continuing medical education market can be segmented into Internet enduring materials, courses, journals, regularly scheduled series, and other enduring materials. Medical journals play an important role in CME and download volume is a reflection of their use by physicians for educational purposes.

In terms of training, the global continuing medical education market can be categorized into cardiothoracic training, neurology training, orthopedic training, oral and maxillofacial training, pediatric training, and radiology training.

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Based on organization, the global continuing medical education market can be classified into school of medicine, government/military organizations, hospitals, insurance & co., non-profit organizations, publishing or Education Company, and others. In terms of region, the global continuing medical education market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Key players operating in the global continuing medical education market include Gundersen Health System, GE Healthcare Institute, American College of Radiology, Healthcare Training Institute, New Jersey, Olympus America, PROCEUM Pvt. Ltd., TACT Academy for clinical training, Zimmer Institute and others.

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Transparency Market Research (Tmr) is a U.S.-based provider of syndicated research, customized research, and consulting services.