Healthcare Education Market by Provider (Universities and Academic Centers, Continuing Medical Education), Delivery Mode (Classroom-based, E-Learning), Application (Cardiology, Internal Medicine), End User- Analysis and Global Forecast to 2030
Healthcare education solutions empower the healthcare sector to be elevating knowledge and competency. These solutions include various courses & assessments, tools & apps, certifications, webinars, and concierge services. In today’s healthcare environment, keeping the team’s current knowledge is very necessary and hence to maintain standards of proficiency the healthcare education solutions help health care learners with rich educational content. This content is developed by top-notch health care experts.
The global healthcare education market is projected to reach USD 148.2 billion by 2030 from USD 81.4 billion in 2020, at a CAGR of 7.9% during the forecast period. Growth in this market is primarily driven by the technological advancements in the healthcare industry, rapid growth in the online education and e-learning sector, and the presence of stringent regulatory mandates related to CME programs. However, lack of face to face interaction and unreliable infrastructure cause barrier to the market growth.
COVID-19 Impact on the Healthcare education solution Market
Due to the COVID-19 pandemic, governments across the globe have enforced social distancing and lockdown measures, which disrupted the normal lifestyle of people. The COVID-19 pandemic changed the course of education, forcing educational institutes to conduct classes online. Working professionals also had to abruptly shift to working from home. A number of events, workshops, and conferences were postponed or canceled. As a result, the adoption of electronic education (E-education) platforms such as digital conferences, webinars, medical blogs, and social media increased.
Healthcare education solution Market Dynamics
Drivers: Increasing adoption of digital learning
Over the years, educational solutions have gained wider acceptance. Technical innovations in the field have helped redefine the learning process. The main objective of online education solutions is to manage the learning process and create an engaging learning environment to add more functionalities for enhancing learning capacities. The traditional approach to medical training has several drawbacks. The cost of establishing and maintaining physical training centers is high, and it is challenging to meet the changing demands due to the constantly changing trends in disease treatments, medical technologies, and drugs.
Restrains: Unreliable infrastructure in most developing countries
Several developing countries do not have reliable internet connection and electricity supply. To be able to complete the courses online, there is a need to have a reliable internet connection to surf the content online or to download the content. Individuals also need to have reliable electrical connections to operate electronic devices. Some of the developing countries in the Asia Pacific and the Middle East and Africa do not have reliable infrastructure, which limits the ability of the students to access online education.
Healthcare Education Solutions Market: Key Trends
Modernization of healthcare institutions wherein computer systems, software applications are integral has necessitated training of healthcare personnel to render service. Service at healthcare institutions, which include diagnostics, laboratory investigations, patient treatment record, and hospital admissions among others is carried out using technology. Large volume of patient data, treatment records, diagnostics have high risk of error if handled manually. This requires service personnel to be trained for these system to render service.
North America to witness significant growth from 2020 to 2030
The global healthcare education market has been categorized on the basis of four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2019, the Asia Pacific region accounted for the largest market share of 39.7%. However, the North American market is projected to register the highest CAGR of 9.5% during the forecast period, primarily due to the initiatives taken by industry players and regional governments towards increasing the number of medical schools and the advancing healthcare sector.
Key Market Players
Some of the prominent players operating in the healthcare education market are SAP (Germany), Adobe (US), Infor (US), Oracle (US), HealthStream (US), HealthcareSource (US), Elsevier (Netherlands), Articulate (US), PeopleFluent (US), ADP (US), GE Healthcare (US), Trivantis Corporation (US), Cerner (US), Koninklijke Phillips (Netherlands), Siemens Healthineers (Germany), Coursera (US), and IBM (US).
• Universities and Academic Centers
• Continuing Medical Education Providers
• OEMs/Pharmaceutical Companies
• Learning Management Systems
• Educational Platforms
• Medical Simulation
By Delivery Mode
• Clasroom based courses
• E-Learning solutions
• Academic Education
• Interna Medicine
• Others applications
By End User
• Non Physicians