June 09, 2021
According to the research report 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 LLC, global healthcare education market was remunerated USD 5.44 billion in 2019 and is anticipated to record 11.1% CAGR over 2020-2027, amassing USD 12.63 billion valuation by the end of the forecast timeframe.
Rising investments in urgent care, booming elderly population, along with favorable policies and increasing expenditure by governments are the key factors stimulating global healthcare education market growth. In addition, advances in healthcare industry along with strategic development between urgent care providers and hospitals are propelling the market development.
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Citing an instance, the Indian Finance Minister Nirmala Sitharaman proposed a USD 300 million investment in health and well-being in the Union Budget 2021-22. This is a 137% increase over the current fiscal year's healthcare budget of USD 1258.63 million. Similar moves by other governments towards the development of healthcare sector will continue to enhance the market growth in the upcoming years.
For those uninitiated, healthcare education is an educational practice that aims to promote, maintain, and enhance the health of individuals and communities. The purpose of awareness and healthcare campaigns is to educate the people about various health issues, and provide satisfaction as well as best healthcare practices.
Speaking of the negatives, inadequate digital framework, lack of a proper healthcare infrastructure, and poor interest in health education are hindering worldwide healthcare education industry expansion. However, increased pervasiveness of injuries, chronic illness, and pandemics will boost the adoption and demand for healthcare education solutions in the upcoming years.
Elaborating on regional terrain, Europe currently holds considerable portion of global healthcare education market share, creditable to booming elderly population, presence of a well-established healthcare infrastructure, and promptness & affordability of urgent care services in the region.
On the other hand, Asia Pacific industry is poised to accrue notable gains by 2027, owing to developing healthcare and health education infrastructure, increasing cases of chronic diseases, and rising disposable income levels.
Top companies in global healthcare education market sphere are Adobe Inc., Trivantis Corporation, PeopleFluent, Elsevier, Oracle Corporation, HealthcareSource Inc., HealthStream Inc., and SAP SE.