Healthcare Education Solutions Market to grow at a CAGR of 8.53% from 2021 to 2026, Driven by the need to address challenges in the healthcare industry through effective medical training - Technavio
NEW YORK, March 30, 2023 /PRNewswire/ -- The global healthcare education solutions market size is estimated to grow by USD 6.57 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 8.53% during the forecast period. Factors such as the need to address challenges in the healthcare industry through effective medical training, widespread adoption of m-learning, and evolved learning and education landscape will drive market growth during the forecast period. A major driver fueling growth in the healthcare education solutions market is the need to address challenges in the healthcare industry through effective medical training. Due to the changing technologies in the global healthcare industry, physicians are required to be well-versed with new methodologies in patient care for improved decision-making. The skills of medical professionals usually have a direct impact on patients' health. Hence, proper education and training of medical professionals are essential. Because of the increasing incidence of infectious and chronic diseases, healthcare practitioners (HCPs) must have information that is disease-oriented and aligned with patient needs and global healthcare trends. Hence, healthcare education solutions are required to assist HCPs in improving their competency, addressing healthcare gaps in specific segments of the global healthcare industry, and translating innovations into practice for improving the overall quality of patient care.
The high costs for developing e-learning content will be a prominent challenge for the healthcare education solutions market during the forecast period. A significant amount of time, money, and resources need to be associated with developing content for e-learning courses. The development of moderately interactive e-learning content takes about 90-240 hours, costing medical education course developers approximately USD 10,000 per produced hour on average. The cost of developing online courses increases with the complexity of the content, especially in medical education. The key factors resulting in high content development costs for e-learning courses include source content, elements embedded in the learning content, and the level of interaction and instructional complexity involved. Online medical course development involves subject matter experts, an instructional design team, a project management team, and technical staff specialists. These professional roles are active in the three different stages of developing an online medical course and lead to high variable costs. Hence, regular updates on the existing online medical courses with additional information and training models further increase the cost of developing online medical courses and may hamper the growth of the market during the forecast period.
North America is estimated to account for 32% of the global healthcare education solutions market growth during the forecast period. The US and Canada are the key markets for healthcare education solutions in the region. Market growth in this region will be slower than the growth of the market in other regions. The presence of an advanced and matured healthcare industry, specifically in developed countries, facilitates the healthcare education solutions market growth in North America during the forecast period.
Healthcare education solutions market insights -
Vendors: 15+, Including 3M Corp, B. Braun SE, Becton Dickinson and Co., Boston Scientific Corp., Bruker Corp., Canon Inc., Cardinal Health Inc., Erbe Elektromedizin GmbH, FUJIFILM Holdings Corp., General Electric Co., Johnson and Johnson, Koninklijke Philips NV, Medtronic Plc, Olympus Corp., PerkinElmer Inc., Sectra AB, Siemens AG, Smith and Nephew plc, Stryker Corp., Thermo Fisher Scientific Inc., and Zimmer Biomet Holdings Inc. among others
Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
Segments: Delivery (Classroom-based and e-learning and geography (North America, Europe, APAC, Middle East and Africa, and South America)
The rising adoption of smart devices among students has influenced the growth of online medical education, thereby promoting distance learning. Vendors operating in different regions attract international students by offering distance-learning programs in medicine. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including -
B. Braun SE - The company offers healthcare education solutions such as evidence-based, best practice, product training, clinical education, clinical consulting services, and collaborative medical education outcomes research.
Becton Dickinson and Co. - The company offers healthcare education solutions such as training programs that comprehensively and seamlessly support healthcare providers across care areas.
General Electric Co. - The company offers healthcare education solutions such as product training, industry education, and rigorous certification programs to meet the needs of customers.
The healthcare education solutions market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
The healthcare middleware market size is expected to increase by USD 1.76 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.75%. The growing amount of healthcare data is one of the key drivers supporting the healthcare middleware market growth.
The healthcare information software market size is expected to grow by USD 11.76 billion from 2021 to 2026 at a progressing CAGR of 7.9%. The rising adoption of advanced technologies in healthcare is a market trend that is expected to have a positive impact in the coming years.
Healthcare Education Solutions Market Scope
Report Coverage
Details
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 8.53%
Market growth 2022-2026
USD 6.57 billion
Market structure
Fragmented
YoY growth of 2021-2022 (%)
8.25
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
North America at 32%
Key countries
US, Canada, Japan, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
3M Corp, B. Braun SE, Becton Dickinson and Co., Boston Scientific Corp., Bruker Corp., Canon Inc., Cardinal Health Inc., Erbe Elektromedizin GmbH, FUJIFILM Holdings Corp., General Electric Co., Johnson and Johnson, Koninklijke Philips NV, Medtronic Plc, Olympus Corp., PerkinElmer Inc., Sectra AB, Siemens AG, Smith and Nephew plc, Stryker Corp., Thermo Fisher Scientific Inc., and Zimmer Biomet Holdings Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 125: Smith and Nephew plc - Business segments
Exhibit 126: Smith and Nephew plc - Key news
Exhibit 127: Smith and Nephew plc - Key offerings
Exhibit 128: Smith and Nephew plc - Segment focus
10.11 Thermo Fisher Scientific Inc.
Exhibit 129: Thermo Fisher Scientific Inc. - Overview
Exhibit 130: Thermo Fisher Scientific Inc. - Business segments
Exhibit 131: Thermo Fisher Scientific Inc. - Key news
Exhibit 132: Thermo Fisher Scientific Inc. - Key offerings
Exhibit 133: Thermo Fisher Scientific Inc. - Segment focus
10.12 Zimmer Biomet Holdings Inc.
Exhibit 134: Zimmer Biomet Holdings Inc. - Overview
Exhibit 135: Zimmer Biomet Holdings Inc. - Business segments
Exhibit 136: Zimmer Biomet Holdings Inc. - Key news
Exhibit 137: Zimmer Biomet Holdings Inc. - Key offerings
Exhibit 138: Zimmer Biomet Holdings Inc. - Segment focus
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 139: Inclusions checklist
Exhibit 140: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 141: Currency conversion rates for US$
11.4 Research methodology
Exhibit 142: Research methodology
Exhibit 143: Validation techniques employed for market sizing
Exhibit 144: Information sources
11.5 List of abbreviations
Exhibit 145: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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