Healthcare Education Global Market Report 2024

The healthcare education market size has grown rapidly in recent years. It will grow from $101.92 billion in 2023 to $114.42 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth observed in the historical period can be attributed to the shift towards online learning, interdisciplinary collaboration, the utilization of simulation and virtual training, the globalization of healthcare, and a heightened focus on patient-centered care.

The healthcare education market size is expected to see rapid growth in the next few years. It will grow to $176.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The anticipated growth in the forecast period can be attributed to the adoption of adaptive learning platforms, the increasing prominence of telemedicine education, the implementation of data-driven learning analytics, the sustained emphasis on interprofessional education, and the ongoing challenges posed by global health issues. Major trends expected in the forecast period include the utilization of digital learning platforms, the integration of augmented and virtual reality, the implementation of personalized learning paths, the development of interdisciplinary training programs, and a heightened focus on mental health education.

The healthcare education market is poised for growth, driven by the rapid increase in online education. Online education, conducted through laptops and smartphones, enables individuals in remote areas to access high-quality medical education. According to the World Economic Forum (WEF), Coursera's online courses witnessed a significant increase, with registrations growing from 71 million in 2020 to 92 million in 2021. This 21 million increase in registrations within a year indicates the rapid growth of online education, contributing to the healthcare education market's growth.

The growth of the healthcare education market is expected to be fueled by a shortage of healthcare professionals. Healthcare professionals include individuals trained in medicine, nursing, and allied health, dedicated to providing medical care and support. The shortage of healthcare professionals drives the expansion of educational programs and institutions, involving the development of new facilities, the introduction of online learning platforms, and the diversification of healthcare education to address industry-specific needs. According to U.S. News & World Report in July 2022, by 2025, the U.S. is anticipated to experience shortages of various healthcare professionals, including home health aides, nursing assistants, medical and lab technologists, and nurse practitioners. Healthcare employment remains 1.1% below pre-pandemic levels, indicating a reduction of 176,000 in the workforce since February 2020. The shortage of healthcare professionals is a key driver for the growth of the healthcare education market.

Technological advancements are shaping the healthcare education market as a key trend, gaining popularity with major market players focusing on creating innovative technologies. Virtual reality is being utilized to deliver quality education in the healthcare field. For instance, in February 2021, Elsevier, a Netherlands-based company specializing in research publication and information analytics, launched innovative virtual reality healthcare simulations for medical students in North American schools. This advanced simulation learning system provides 100 virtual reality patients and 160 lab-based scenarios, assisting students in acquiring quality education and enhancing skills used in medical operations.

Major companies are focusing on product innovation, particularly online destinations and go-to resources for information to empower people in self-care decisions. An online destination and go-to resource for information serve as centralized platforms providing comprehensive and reliable data on specific subjects. For example, in March 2023, the Consumer Healthcare Products Association (CHPA), a US-based trade association, launched HealthInHand.org, a rebranded online destination and go-to resource for information on self-care products. This modern, user-friendly platform focuses on over-the-counter products, dietary supplements, and consumer medical devices, empowering individuals with accessible, evidence-based information to enhance health literacy and promote informed decision-making in self-care within the healthcare education sector.

In November 2021, Elsevier, a Netherlands-based academic publishing company focusing on science, technology, and healthcare publications, acquired Osmosis for an undisclosed amount. This strategic move allows Elsevier to broaden its healthcare education solution portfolio and visual learning platform globally. Osmosis, a US-based healthcare education platform, complements Elsevier's commitment to advancing medical professionals' education.

Major companies operating in the healthcare education market report are International Business Machines Corporation, Oracle Corporation, SAP SE, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Stryker Corporation, GE Healthcare, Adobe Inc., Olympus Corporation, Medtronic PLC, Zimmer Biomet Holdings Inc., Cerner Corporation, Canon Medical Systems Corporation, Elsevier B.V., Infor Global Solutions Corporation, Johns Hopkins Medicine, Apollo Hospitals Enterprise Limited, McGraw-Hill Education, Harvard Medical School, Stanford University, Coursera Inc., HealthStream Inc., Symplr Inc., PeopleFluent, Articulate Global Inc., HealthcareSource, Trivantis Corporation, Gundersen Health System, Richmond Academy of Medicine Inc., Wolters Kluwer Health, EBSCO Information Services Inc.

North America was the largest region in the healthcare education market in 2023. The regions covered in the healthcare education market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the healthcare education market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary healthcare education providers are universities and academic centers, continuing medical education providers, OEMs or pharmaceutical companies, learning management system providers, educational platforms, and medical simulation. Universities and academic centers provide healthcare education to students and medical staff for improved knowledge and expertise in health awareness and patient care. They offer on-premises and online courses through classroom-based and e-learning solutions. Healthcare education applications include academic education, cardiology, neurology, radiology, internal medicine, pediatrics, and others. Academic education services are utilized by students, physicians, and non-physicians.

The healthcare education market research report is one of a series of new reports that provides healthcare education market statistics, including healthcare education industry global market size, regional shares, competitors with healthcare education market share, detailed healthcare education market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare education industry. This healthcare education market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The healthcare education market includes revenues earned by entities by providing services such as emergency action training, first aid training, and physical and mental health training. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.