The global continuing medical education market size to reach USD 11.57 billion by 2026, growing at a CAGR of 6.7% during the forecast period.
CHICAGO, ILLINOIS, UNITED STATES, July 2, 2021 /EINPresswire.com/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global continuing medical education market report.
The continuing medical education market is expected to grow at a CAGR of over 6.7% during the period 2020−2026.
Key Highlights Offered in the Report:
1. COVID-19 has impacted the CME market positively. Large number of providers are shifting towards the online platform during the pandemic to increase awareness regarding the COVID-19 patients’ conditions. There were scenarios where the physicians were completely focused on treating the COVID-19 patients across the globe, there was a decrease in the number of people taking CME programs other than COVID-19 related activities.
2. Classroom training dominated the market based on the delivery method, expected to reach an incremental growth of more than USD 1 billion.
3. The oncology segment dominated the market and is expected to grow at an incremental growth of more than USD 600 million. Oncology diagnostics is considered as one of the demanding programs among physicians.
4. NPOs/physicians organizations dominated the provider’s market. However, the publishing/educational companies are expected to grow with the highest CAGR of 7.77%, with more than USD 1.5 billion incremental growth.
5. North America dominated the market based on geography; however, APAC is expected to grow at a faster CAGR of 9.24%, due to the large volume of physicians available in the APAC countries.
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by delivery method, providers, specialty, and geography
• Competitive Landscape – 54 vendors are detailed in the report
Continuing Medical Education Market – Segmentation
• Some professionals prefer more classroom training since many group activities are conducted and help to increase knowledge transfer. With the introduction of e-learning, healthcare professionals are shifting their interest towards e-learning. The advent of the COVID-19 pandemic is soaring the growth of e-learning in the CME market.
• Physicians’ membership organizations provide the CME program that is specifically developed as per the needs of specialization. These physician member associations also provide specific free CME programs to their members in the organizations. The physicians can keep up with the newest developments through their association membership benefits, including conferences.
• Many physicians’ associations, NGOs fighting against cancer, and insurance companies provide various oncology-based CME courses to increase the knowledge regarding cancer treatments and their diagnostics. The rising number of cases is expected to drive the CME programs related to the oncology segment worldwide.
Continuing Medical Education Market by Delivery Method
• Classroom Training
• Regularly Scheduled Series
Continuing Medical Education Market by Providers
• Publishing/Education Company
• School of Medicine
• Hospital/Healthcare Delivery System
Continuing Medical Education Market by Speciality
• Infectious Disease
• Primary Care
Continuing Medical Education Market – Dynamics
The trend is moving toward combining cognitive science with 3D gaming technology to help physicians learn virtually. Conventional technologies usually include printed materials, live webinars, and discussions among physicians. These traditional methods of learning were not very impactful in the process of knowledge transfer to physicians in CME. These materials were, thus, not preferred by physicians as they brought them theoretical knowledge and not skill required to handle situational decision making. Most learnings are focused on knowledge acquisition. Practicing how to apply what is learned in realistic situations boosts retention and, more importantly, promotes behavior change in real-world settings. One of the important factors for the success of physicians is their ability to make optimal decisions in diverse situations. Simulation methods provide physicians decision-making capacity. This decision-making skill can be honed using one-on-one coaching but demands huge capital, whereas when it is learned on virtual coaching programs, they are more effective and impactful.
Key Drivers and Trends fueling Market Growth:
• Increased Demand for Mobile Platform Education
• Increased Demand for Shorter CME Programs
• Stringent Regulatory Mandates
• Adoption of Digital Learning
Continuing Medical Education Market – Geography
In 2020, North America accounted for 36.28% of the global CME market. Healthcare professionals in North America require a certain number of CME/CE credits to maintain their licensure. Some requirements may vary, including the type and number of credits that need to be completed by occupation and state. However, it is critical that all clinicians have easy access to these offerings when they need them. Traditionally, clinicians would often attain CME at in-person medical events and conferences. However, the COVID-19 pandemic has made in-person events largely non-existent, escalating the need for more digital and mobile options for CME. CME helps fill critical industry needs and ensuring clinicians can continue to stay abreast of the latest medical developments to enhance their practices and deliver the highest quality of care.
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Continuing Medical Education Market by Geography
• North America
• South Korea
• Latin America
• Middle East & Africa
• South Africa
• Saudi Arabia
• Albert Einstein College of Medicine
• Antidote Education Company
• AMA EdHub
• AO North America
• American Medical Seminars
• AXIS Medical Education
• COPIC Insurance Company
• CME Outfitters
• Current Reviews
• Carlat CME Institute
• CME Procedures
• Clinical Care Options
• Continuing Education Company
• EXCEL CME
• EB Medicine
• Essential CME
• Forefront Collaborative
• Greeley Company
• Global Education Group
• Indiana University School of Medicine
• King Fahad Medical City
• Kenes Group
• MedExpert Group of Companies
• Med Learning Group
• NORCAL Mutal Insurance Company
• Opus Medicus
• PESI Healthcare
• Research To Practice
• Rockpointe Corporation
• Stanford Medicine
• Salus Global
• Sidra Medicine
• Siyemi Learning
• Tower Health
• University of North Dakota
• University of California, Irvine
• World Class CME
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