Medical education has attracted the interest as well as investments from the medical fraternity. In an age of value-based care, medical education is becoming all the more important. It is undoubtedly important that clinicians focus on the adoption of state-of-the-art instruments and medical equipment. But, equally vital concern that underpins the drive toward medical education market is the need for patient-centred care. Over the years, both government sector and private healthcare institutes have committed large funds on medical education to upskill clinicians. This has become imperative since the paradigm of healthcare IT is changing very fast.
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Another key accelerator of investments in the continuing medical education is the widening gap between patient care and the access to quality patient care at affordable cost. Medical education in the veritable bridge between the two. In almost all areas of medical education, ICT has made vast inroads. This has intensified the need for medical education for the entire fraternity.
Array of collaborative models opening new vistas in market
In the currently emerging COVID 19 pandemic, the trend of online medical education has imparted a new impetus to the expansion in the market. Chronic disease management and the growing adoption of wearable have opened up new vistas for medical education for clinicians to keep pace with the changing times. Also, remote monitoring technologies are witnessing rapid adoption, spurring the demand for medical education for offering value-based care across the entire continuum.
An array of collaborative models have emerged involving universities and educational institutes, thereby creating new avenues in the medical education market. E-platform technologies have been key enabler for the adoption of new technologies. These models of patient care also take care of better metrics for measuring patient satisfaction, which is usually multidimensional in all clinical settings.
Geographically, North America is a markedly lucrative regional market, where its growth is spurred by the presence of elite medical colleges.
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