The Global Surge in Continuing Medical Education Demand Predicts Revenue Soaring to $13 Billion by 2028, Market Driven by Short-Term CME Program - Arizton

CHICAGO, Jan. 17, 2024 /PRNewswire/ -- According to Arizton's latest research report, the continuing medical education market is growing at a CAGR of 7.70% from 2022 to 2028.

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Browse in-depth TOC on the "Continuing Medical Education Market"  

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155 - Figures   

Continuing Medical Education Market Report Scope

In recent years, several changes and developments have changed the overall Continuing medical education market landscape at the global level. Worldwide, the COVID-19 pandemic has broadly affected the healthcare system. The huge impact of disruption in the routine of healthcare settings (hospitals and clinics) has majorly affected continuing medical education (CME) for specialty trainees (STs). During the COVID-19 pandemic, most specialty training programs were switched to video conferencing to maintain and improve the skills and knowledge of physicians and medical professionals.

However, in the coming years there has been a growing acceptance of medical education, with technological advancements playing a pivotal role in reshaping learning approaches. The adoption of next-generation simulation technologies for ongoing medical education has gained rapid popularity. The evolving landscape of clinical systems, characterized by constraints on class hours and patient availability, administrative challenges, technological progress, and heightened diagnostic rates, has fueled the increased integration of simulation technologies in medical education. These technologies offer substantial advantages over traditional methods.

The field of simulation healthcare has actively championed technological progress, particularly in the realm of extended reality (XR). This encompasses immersive technologies that enhance the traditional learning experience through immersive interactions. The combined use of mixed reality (MR) simulation, augmented reality (AR), and virtual reality (VR) represents an innovative pathway for medical professionals and learners to immerse themselves in training environments, thereby enhancing their skills and knowledge. This shift towards advanced simulation technologies reflects the ongoing transformation in medical education methodologies.
Surge in Demand for Short-Term CME Courses Driven by Rapid Changes and Physician Pressures

The evolving landscape of continuing medical education (CME) activities is witnessing a significant rise in demand for short-term courses, propelled by the increasing patient population and the dynamic challenges faced by physicians. Time, deemed the most critical factor for medical professionals globally, has become a significant challenge. Allocating more time to other continuing medical educational programs adds pressure to their already demanding schedules. In response, medical professionals worldwide are expressing a preference for shorter educational activities that allow them to manage patient care efficiently.

The constraints of expenses and travel time further contribute to the escalating demand for short-term CME programs among physicians. The shortage of physicians, general practitioners, and specialists intensifies the burden, driving the need for accessible and concise CME events.

As per the World Health Organization's (WHO) 2022 data, the ratio of one medical professional per 1,000 patients underscores the strain on healthcare resources. Younger medical professionals are increasingly favoring concise online formats, interactive medical decision-making resources, and text-based activities, each lasting less than 15 minutes. Recognizing healthcare workers as the backbone of the healthcare system, there is a growing demand for a structured process that ensures continuous exposure, training, learning, and improvement, enabling them to apply their knowledge and skills accurately. Industry leaders can strategically focus on these factors to catalyze the growth of the CME market.

Oncology Dominates Global Continuing Medical Education Market with a Robust 12.86% Market Share in 2022

Cancer remains a significant global health challenge, with more than 10 million new diagnoses annually and a staggering 10 million recorded deaths in 2020. The year 2020 saw over 18 million cancer cases worldwide, with 9.3 million affecting males and 8.8 million impacting females. The rising prevalence of cancer is fueling a growing demand for care, thereby propelling market growth.

Amid the escalating global cancer burden, there has been a rapid surge in innovation in diagnostic and therapeutic approaches. This has led to heightened interest among medical professionals in enhancing their skills for delivering effective cancer care. Physicians are increasingly enrolling in oncology-focused Continuing Medical Education (CME) programs, driven by the need to upgrade their capabilities in response to the growing number of target patients seeking advanced treatments.

General practitioners (GPs) play a crucial role as frontline healthcare providers, often being the first point of contact for patients. Recognizing the pivotal role of early diagnosis in cancer treatment, there is a rising demand among GPs for CME programs focused on diagnosing cancer patients. These programs empower GPs to accurately identify symptoms and guide patients toward appropriate medical pathways, contributing to improved outcomes.

Surveys have indicated a need for enhanced knowledge among GPs in the initial diagnosis of cancer patients. CME programs emerge as a vital tool to address this gap, providing GPs with the necessary insights to make informed decisions. Particularly sought-after are CME programs addressing screening for breast, ovarian, skin, and prostate cancers, aligning with the primary care context.

As emerging therapies like CAR-T gain prominence, there is a heightened demand for education on these topics in regions such as the US, the UK, Germany, France, and Italy. CME programs focusing on CAR-T therapy equip medical professionals with knowledge about new treatment methods, enabling them to manage patients effectively based on evolving conditions.

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APAC to Witness the Fastest Growth Rate in the Continuing Medical Education Market

APAC is one of the leading regions expected to grow in the global continuing medical education market, with the highest 10.32% CAGR from 2023 to 2028. It is one of the opportunity delivery markets with the potential for rapid development in healthcare delivery and healthcare settings. The increasing number of medical schools, medical professionals, hospitals, and other health-related facilities has accelerated the significant demand for CME programs in the country. In recent years, several countries have increased their focus on improving the quality of care through various strategies. CME is a hugely accepted strategy by healthcare professionals and healthcare settings. In addition, funding from pharma and medical device companies is expected to drive huge market growth in the region. The development of pharma and medical device companies in the regions where new products have been launched and promotional activities deliver huge market growth opportunities has steadily increased.

Prominent Vendors Profiled in the Report

• 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

Market Segmentation

Delivery Mode

• Classroom Training
• E-Learning
• Regularly Scheduled Series
• Journals
• Others

Speciality

• Oncology
• Cardiology
• Infectious Diseases
• Orthopedic
• Dental
• Primary Care
• Gastroenterology
• General Surgery
• Pediatric
• Allergy & Immunology
• Endocrinology & Metabolism
• Others

Providers

• NPOs & Physician Membership Organization
• Publishing/Education Companies
• School of Medicine
• Healthcare Settings
• Others

Geography

• North America
• The US
• Canada
• Europe
• Germany
• France
• The UK
• Italy
• Spain
• APAC
• China
• Japan
• India
• Australia
• South Korea
• Indonesia
• Malaysia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• The UAE
• Turkey

Key Questions Answered in the Report:

How big is the continuing medical education market?

What is the growth rate of the continuing medical education market?

What are the growing trends in the continuing medical education industry?

Which region holds the most significant global continuing medical education market share?

Who are the various providers of the global continuing medical education market?

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