By 2024, Medical Education Market is Expected to Reach $38.4 billion

By SiliconIndia   |   Tuesday, 24 April 2018, 10:17 Hrs
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Reported as a highly competitive business space, the global medical education market was witnessed with $25.09 billion in 2015. Gradually expanding at a CAGR of 4.30 percent during the period from 2016 to 2024, this market is projected to reach a value of $38.4 billion by 2024, say analysts at Transparency Market Research (TMR).

Founded in 2011, TMR is a global market research analysis intelligence firm with offices in India and US. It provides solutions spanning customized research, syndicated research reports and consulting services. With more than 120 employees at the end of March 2016, it was ranked the ‘Top Five Most Promising Market Research Companies’ in 2014 by business magazine SiliconIndia.

A TMR analyst avers, “Currently, the online education industry has surfaced as lucrative investment avenue“. The demand for online mode of education is increasing significantly in the years to come and it reflects in the growth of global medical education market. Moreover, the advent of various e-learning industries in emerging economies will bring opportunities in global market for medical education over next few years.

According to a new research by TMR, Apollo Hospitals have been the leader in market since ages and they’re expected to hold on to the crown in the near future as well, only because of its extensive course portfolio and strong market penetration. Other established players at the market include TACT Academy for Clinical Training, Olympus Corp., Gundersen Health System, Zimmer Biomet Holdings Inc. (Zimmer Institute), Medical Training College and GE Healthcare.

Among Europe, North America, Asia Pacific and other countries, North America is still the market leader worldwide with an established infrastructure in terms of medical education and healthcare. Enormous potential for the growth of the market for medical education through timely technological upgrades, creating awareness among patients and constant evolution of information technology makes them the dominant region. However, the high cost for higher education, particularly in developed nations may obstruct the growth of the market in the years to come.

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