Medical Education Market is Expected To Demonstrate a CAGR of 4.30% by 2024

Global Medical Education Market: Snapshot

The global market for medical education is likely to grow at a fast pace in the next few years. The technological developments in the medical sector and the development of diverse and updated courses are estimated to support the development of the global medical education market in the next few years. Furthermore, the globalization of the healthcare education is expected to accelerate the market growth in the near future.

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Rising Trend of Online Education to Drive Global Medical Education Market

In 2015, the global market for medical education was worth US$25.9 bn and is projected to attain a value of US$38.4 bn by the end of 2024. The market is predicted to exhibit a healthy 4.30% CAGR between 2016 and 2024, states a new report by Transparency Market Research.

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The rise in the demand for cardiovascular disease treatments with enhanced clinical outcomes is the key factor estimated to enhance the growth of the global medical education market in the next few years. The increasing number of institutes in the e-learning industries, especially in developing economies and the increasing research and development activities are anticipated to support the growth of the global medical education market in the near future. In addition to this, the development of the healthcare sector and the advancements in the education and medical sector are projected to offer growth prospects for the players across the globe. On the other hand, the high cost related to the medical education and the lack of internet connection in developing countries are estimated to restrict the growth of the global medical education market in the near future.

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Increasing Investments in Medical Sector to Encourage Market Growth

Geographically, North America is anticipated to hold a large share of the medical education market in the coming few years. The presence of well-established players and the increasing awareness among people are the key factors that are likely to accelerate the growth of the North America market in the next few years. In addition to this, the technological advancements and the rising investments in this field are likely to supplement the market growth in the coming years. North America is expected to be followed by Europe and Asia Pacific. The introduction of new courses and the rising expenditure in the healthcare sector are predicted to enhance the growth of the Europe market. Furthermore, the rise in the adoption of online training for the medical education and the development of the healthcare infrastructure are estimated to support the growth of the Asia Pacific medical education market in the near future.

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