CONTINUING MEDICAL EDUCATION INDUSTRY INSIGHTS
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. The global CME market is expected to experience an increase in demand as the number of medical school graduates increases. Doctors and other medical professionals are expected to continuously educate themselves on evolving developments within their practice throughout their careers.
Continuing medical education is a highly specialized field, and it has firmly established disciplines. Healthcare is one of the industries where the acceptance of online and blended learning replaces traditional classroom learning at an incredible pace. The trend in continuing medical education is moving towards combining cognitive science with 3D gaming technology to help physicians learn through the virtual experience. The simulation-based CME teaching is performed in multiple therapeutic areas. The continuing medical education market simulation is being accepted by most of the top providers across the globe.
Mayo Clinic is one of the largest academic medical centers offering engaged and diverse simulation training continuing medical education (CME) that includes live courses and conferences, podcasts, and online courses. Did you know the usage of mobile CME is heavily driven by the younger demographic? Around 70% of the youngest physicians reported using a smartphone for educational activities. Insurance companies such as CineMed have their mobile apps, attracting physicians towards continuing medical education online. The introduction of innovative methods in continuing the medical education industry, such as cloud-based CME providers, simulation-based, and live patients-based case discussions, are unique ways to attract the participants.
- The continuing medical education market in Europe is expected to cross over USD 3 billion by 2026.
- E-learning in continuing medical education market to account for the highest incremental growth of around USD 1 billion by 2026.
- In 2020, Canada accounted for over 7% of North America's continuing medical education market share.
- The primary care segment will witness the fastest CAGR of around 8% during the forecast period.
CONTINUING MEDICAL EDUCATION INDUSTRY GROWTH FACTORS
- Many pharmaceutical companies started using the CME programs as marketing platforms to influence the content specific to the product promotion, boosting the continuing medical education (CME) market growth.
- The growing acceptance of digital learning across enterprises is expected to drive the continuing medical education market growth.
- The CME landscape in UAE is still in the developing stage and plans to develop its healthcare system as one of the top 20 healthcare systems globally.
CONTINUING MEDICAL EDUCATION MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Delivery Method
INSIGHTS BY DELIVERY METHOD
E-learning will dominate the market in the future with the increased adoption of digital-based CME training.
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. The online teaching platform has seen a boom for one decade. The increasing penetration of the internet is fueling online activities that can be accessed whenever the participant wants to complete them.
Regularly scheduled series provide essential opportunities to foster collaboration, identify and overcome barriers to change, and explore beyond the limited institution. The RSS is primarily followed in most of the developed countries, especially in the US. The global market by regular schedule is expected to reach around USD 2 billion by 2026.
INSIGHTS BY PROVIDERS
In 2020, physician membership organizations and other NPO accounted for over 41% share in the global market.
Physicians’ membership organizations provide the CME program that is specifically developed as per the needs of particular 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.
Most of the pharma companies and medical device companies are funding the CME activities. The publishing/ educational companies saw increased support from the various industries, creating increased funding for publishing companies. Physicians and other medical professionals tend to use numerous sources of continuing healthcare education with increased brand equity and helping these educational institutions to attract more physicians to enroll in various programs like CME.
INSIGHTS BY SPECIALITY
The CME market by oncology to occupy absolute growth of over 50% by 2026.
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.
There are many physician associations related to the cardiology specialization that is focused on providing the CME programs catering to the needs of the physician. Cardiologists use the CME as one of the significant platforms to upgrade their skills as per the requirement in the healthcare education market.
INSIGHTS BY GEOGRAPHY
The rising adoption of CME programs and adaptive learning are the key drivers of the medical education market in the North American region.
North America to dominate the global CME market and will lead the industry during the forecast period. The innovative activities have increased the demand for the CME programs in this region. Canada is one of the most significant countries in medical education innovation in North America. The requirement of the credit points for the physicians has demanded them to adopt the CME program much faster in Canada. The increasing demand for the CME programs made many providers enter the CME providers platform. The CME market in North America is expected to grow at a CAGR of over 5% during the forecast period.
The startups in the CME market are focused mainly on digital technology.
The vendors in the CME market are startups, educational companies, branded medical schools, NGOs, physician associations, Insurance companies. Several regional vendors are investing in the latest topics of CME as per the requirement in their country, especially in Europe, APAC, and North America. The industry is creating opportunities for both existing and new players. Vendors are increasingly focusing on launching innovative delivery methods to penetrate and tap the enormous growth potential of the market. Albert Einstein College of Medicine is one of the largest medical school-based continuing Medical Education (CME) providers in New York.
The continuing medical education market research report includes in-depth coverage of industry analysis with revenue and forecast insights for the following:
Segmentation by Delivery Method
- Classroom Training
- Regularly Scheduled Series
Segmentation by Providers
- Publishing/Education Company
- School of Medicine
- Hospital/Healthcare Delivery System
Segmentation by Speciality
- Infectious Disease
- Primary Care
Segmentation by Geography
- North America
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia