DUBLIN, Feb. 22, 2024 /PRNewswire/ — The “Global Continuing Medical Education Market – Outlook & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global continuing medical education market is expected to reach a value of $13.52 billion by 2028 from $8.66 billion in 2022, growing at a CAGR of 7.70% from 2022 to 2028
A significant and growing need exists for quality and affordable healthcare services globally. Medical marketing constantly evolves, and with unpredictable technological changes, CME providers must stay on top of all the newest techniques. CME participation has also continued to develop. The healthcare education market has a massive demand for physicians and other medical staff, where the supply is scarce. There is an increased demand for quality human resources built through a solid academic and learning environment like CME platforms.
North America is one of the leading regions in the global continuing medical education market, accounting for a higher market share. The market growth for CME in the region is attributed to the region’s vast number of healthcare workers, increased adoption of digital tools for CME programs, and transformation in CME delivery during and after the COVID-19 pandemic.
The U.S. and Canada have more than 23 million health workers available in the region. However, the increasing patient population in the region and the decreasing number of healthcare professionals are expected to drive the market growth in upcoming years. In 2022, North America accounted for approximately 36% of the market share in the global continuing medical education market and dominated the other regions.
MARKET TRENDS & DRIVERS
Increasing Implementation of Omnichannel Communication for CME
Omnichannel has become a significant trend in the continuing medical education market in the last three years. These newly adopted and implemented strategies are now expected to enable medical affairs teams to develop personalized experiences that put medical professionals, physicians, and other potential factors at the center of communications planning.
Further, it allows them to find appropriate and meaningful information required. These channels ensure that their knowledge demands a suitable format, such as podcast, infographics, text, and video, according to their convenience.
Healthcare Professionals Turning Towards Online For CME
The COVID-19 pandemic has changed how CME in the last two years, 2021-2022. The healthcare world is turning towards digital platforms, with video emerging as an innovative and new face-to-face platform. The shift to digital learning also increased the time required to participate in online CME.
Around 1 in 10 physicians (11%) are also turning towards online platforms to access clinical data from live meetings and conferences not being held because of the COVID-19 disruption. The COVID-19 pandemic has raised the value of online platforms and medical education formats, as physical presence is not mandatory. The pandemic forced educational institutes and medical societies to develop and implement new strategies to reduce closed interpersonal contacts. Which moderately supports online CME.
The Increasing Involvement of Next-Generation Simulation Technology In CME
Over the last few years, medical education has gained wider acceptance. In addition, technological advancement in medical education helped redefine learning procedures. Implementing next-generation simulation technologies for continuing medical education is becoming popular quickly.
The rapidly transforming clinical systems that restrict class hours and patient availability, administration possibilities, technology advances, and increased diagnostic rates have supported the increasing application rate of simulation technologies in the medical education field.
Shortage of Healthcare Professionals
Due to the shortage of medical professionals in developing and some developed countries, healthcare workers are experiencing a burden in care delivery and patient management. The CME activities and programs help reduce this burden by improving skills, knowledge, performance, and time management.
Changing Medical Landscape With An Increasing Number of New Diseases
Globally, the increasing burden of existing and emerging diseases is the leading cause of disability and mortality. The four significant diseases worldwide are cancer, chronic respiratory diseases, cardiovascular diseases, and diabetes.
But in recent years, infectious diseases such as the COVID-19 pandemic, monkeypox, and certain rare diseases that fall under infectious disorders tremendously increased demand for new therapies. At such places, CME played a significant role and maintained healthcare delivery.
An Increasing Number of Medical Students’ Enrollment
Worldwide, the increasing burden of various disease conditions has led to increasing attention in the medical field. Government initiatives are rapidly growing and accelerating knowledge in the medical field to reduce the burden.
Based on this, the increasing number of medical schools, courses, and training programs is accelerating the number of new medical students and academic institutes. With the growing number of medical students worldwide, it is projected to support the continuing medical education market growth during the forecast period.
Increasing Demand for Short-Time CME
The burden of time management among medical professionals and the demand for short-time CME programs are increasing rapidly. Also, the increasing focus of providers on delivering short-term CME programs simultaneously as medical professionals through various digital and e-tools is accelerating the industry’s growth rapidly.
SEGMENTATION INSIGHTS
INSIGHTS BY DELIVERY MODE
The global continuing medical education market is segmented into classroom training, e-learning, regular schedule series, and journals. The classroom training segment had the highest market share, approximately 41% in 2022. Classroom training is one of the old, traditional, and most effective delivery modes for continuing medical education.
This delivery mode has long been a method that was found to be relatively effective due to face-to-face knowledge delivery with more confidence and accuracy, and the question-answering factor in this method delivers more quality in terms of knowledge, skills, and enhancement. Classroom learning is essential in the CME procedures, offering participants hands-on experience and encouragement with interprofessional collaborations.
Most countries prefer classroom-based CME training. However, over time, e-learning has become. It will dominate the market, with higher adoption of digital CME training characterized by online classes, mobile-based, app-based, and live webinar-based programs.
INSIGHTS BY SPECIALTY
The oncology specialty segment dominated the global continuing medical education market in 2022. Cancer is one of the leading health conditions witnessed for high mortality and morbidity and steadily increasing prevalence.
It resulted in the increasing global research and development activities in the oncology field regarding medicines and new treatment delivery technologies, increasing the demand for training and knowledge. These factors led to increasing demand for CME activities in higher proportion in the oncology field.
INSIGHTS BY PROVIDERS
The global continuing medical education market by providers is segmented into NPOs and physician membership organizations, publishing/educational companies, schools of medicine, hospitals or healthcare delivery systems, and others. The NPOs and physician membership organizations accounted for the highest market share in 2022 and are expected to dominate the industry during the forecast period.
They are a leading source and primary point of contact for medical professionals to learn about newly developed therapies and treatment of health conditions. Furthermore, they offered and managed accreditation services to medical professionals and other healthcare workers, resulting in substantial segmental growth.
Market Opportunities & Trends
- Increasing Implementation of Omnichannel Communication for Cme
- Healthcare Professional’s Shifting Toward Online Cme
- Increasing Involvement of Next-Generation Simulation Technology in Cme
Market Growth Enablers
- Shortage of Healthcare Professionals
- Changing Medical Landscape with Increasing Number of New Disease Conditions
- Increasing Number of Medical Student Enrollments
- Increasing Demand for Short-Term Cme Courses
Market Restraints
- Major Challenges with Maintaining Cme Accreditation
- Barriers in Effective Management of Cme
- Pharma Influence Leading to Biased Cme Content
Prominent Vendors
- Acadoodle
- Afya
- Albert Einstein College of Medicine
- Antidote Education Company
- AMA Ed Hub
- AO North America
- AcademicCME
- AffinityCE
- Amedco
- American Medical Seminar
- AXIS Medical Education
- Aspirus
- COPIC Insurance Company
- CME Outfitters
- Curi
- Current Reviews
- Carlat CME Institute
- CMEPlanet
- Cine-Med
- CME Procedures
- Clinical Care Options
- Continuing Education Company
- EXCEL CME
- EB Medicine
- Essential CME
- Forefront Collaborative
- Greeley Company
- Global Education Company
- HonorHealth
- Indiana University School of Medicine
- Intellectures
- King Fahad Medical City
- Kenes Group
- MedExpert Group of Companies
- Med Learning Group
- Medicus
- Med-IQ
- MEDtalks
- MedScape
- NORCAL Mutual Insurance Company
- Opus Medicus
- PESI Healthcare
- ProAssurance
- Research To Practice
- Rockpointe Corporation
- Relias
- Stanford Medicine
- Salus Global
- Sidra Medicine
- Siyemi Learning
- Tower Health
- UpToDate
- University of North Dakota
- University of California, Irvine
- World Class CME
- Syandus
For more information about this report visit https://www.researchandmarkets.com/r/z6kxa1
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