Medical education promotes a commitment to learning about the science behind the teaching and learning in medicine. It has been firmly established field including cardiothoracic, neurology, orthopedic, pediatric, radiology etc. disciplines. The asymmetric growth in medical schools is likely fostered by an increased willingness of individuals to travel for their medical education. However, the “brain drain” of trained physicians from low income to high-income settings has been well-recognized, migration for undergraduate medical education is a growing trend. For example, in the United States, the number of applicants for medical schools were estimated to be 90,000 in the year 2017. Medical schools are striving to expand their capacity to provide more avenues for medical education to aspirants across the United StatesAccording to AMA, the market for Medical Education is expected to register a CAGR of 10.7% during the forecast period to 2024. This growth is primarily driven by Development of virtual labs and Increasing government initiatives in various emerging economies such as India, China and Others.
Globally, a noticeable market trend is evident Rapid technological advances in the medical industry
. The Education Services sector in the North America region has been increasing at a strong rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Harvard Medical School (United States), Johns Hopkins School of Medicine (United States), Oxford University Medical School (United Kingdom), School of Clinical Medicine, University of Cambridge (United Kingdom), Stanford University School of Medicine (United States), TACT Academy for Clinical Training (India), Zimmer Biomet Institute (United States) and Medical Training College (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Development of virtual labs
- Increasing government initiatives in various emerging economies such as India, China and Others
- Rapid technological advances in the medical industry
- Increasing gamification in medical education
- Exponential increase in the number of medical schools and medical students and migration for medical education and training
- Lack of practical awareness in distance learning paired with high fees for classroom training
Positive economic growth and vast student base coupled with rising investments in healthcare across the world and Growing spending on online education by consumers and sizeable investments
High cost of education in various countries across the globe
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