July 05, 2021
According to the research literature titled ‘Global Healthcare Education Market Size study, by Provider (Universities & Academic Centers, Continuing Medical Education Providers, Oems/pharmaceutical Companies, Learning Management System Providers, Educational Platforms), Delivery (Classroom-based Courses, E-learning Solutions), Application (Academic Education, Cardiology, Neurology, Radiology, Internal Medicine, Pediatrics, Other Applications), End User ( Students, Physicians, Non-physicians) and Regional Forecasts 2020-2027’, available with Market Study Report, global healthcare education market is projected to reach USD 5.44 billion in 2019 and is projected to grow at 11.1% CAGR over 2020-2027, subsequently reaching USD 12.63 billion by the forecast period end.
As per the findings of the report, advancements in healthcare industry, and strategic developments between urgent care providers and hospitals are augmenting global healthcare education market growth.
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Heightened investments in urgent care along with rising expenditure and favorable policies by governments are also enhancing the industry outlook. For instance, in the Union Budget 2021-22, the Indian government announced an allocation of USD 300 million for improving health and well-being, representing a 137% rise over the previous fiscal year.
Growing prevalence of injuries, pandemics, and chronic diseases is also boosting the industry growth. However, lack of adequate healthcare infrastructure, digital infrastructure and interest in healthcare education are negatively impacting businesses in this domain.
Elaborating further on the subject, healthcare education is a process wherein education is imparted to maintain, promote and improve health of individual and the community. This involves awareness and healthcare campaigns that educate society on various health areas, and provide a satisfaction and best healthcare practices to people.
On the geographical front, key contributors to global healthcare education industry remuneration are North America (U.S., Canada), Europe (U.K., Spain, France, Germany, Italy), Asia Pacific (India, China, Australia, South Korea, Japan) and Latin America (Mexico, Brazil).
Europe currently accounts for majority industry share owing to presence of well-established healthcare infrastructure, expanding elderly population base, and affordability & promptness of urgent care services.
Meanwhile, Asia Pacific market is touted to record stellar growth over the assessment period, creditable to increasing per capita income, rising burden of chronic health conditions, and developing healthcare & health education infrastructure in the region.
With respect to the competitive landscape, Adobe Inc., Trivantis Corp., PeopleFluent, Elsevier, Oracle Corp., HealthcareSource HR Inc., HealthStream Inc., Oracle Corp., and SAP SE are the top contenders influencing the overall healthcare education market dynamics.