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Medical education is education related to the practice of being a medical practitioner, including the initial training to become a physician (i.e., medical school and internship) and additional training thereafter (e.g., residency, fellowship, and continuing medical education). Medical education and training varies considerably across the world. Various teaching methodologies have been used in medical education, which is an active area of educational research. In addition, medical education is the subject-didactic academic field of educating medical doctors at all levels, including entry-level, post-graduate, and continuing medical education. Medical education applies theories of pedagogy specifically in the context of medical education. Specific requirements such as entrustable professional activities must be met before moving on in stages of medical education.
COVID-19 scenario analysis
Pharmaceutical and biotechnological companies together with governments around the globe are working to combat with the COVID-19 outbreak, from supporting the development of vaccines to schedule for medicines supply chain challenges. Furthermore, there are around 115 vaccine candidates and other 155 molecules that are kept in the R&D pipeline in the coming years. Moreover, commonly used drugs such as hydroxychloroquine have seen huge boost in demand for the management of COVID-19. Increase in demand for drugs has been witnessed, which is likely to offer lucrative opportunity for manufacturers of COVID-19 management drugs, as many developed countries are short of these drugs. Owing to the demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is anticipated to witness a substantial growth in the next few years.
The major factor affecting the industry include introduction of novel collaborative models in medical education and increase in preference for online education and continuing medical education (CME) programs. This would help the industry gain higher revenue in the medical education over forecast period. Furthermore, owing to rise in preference for internet teaching, the medical education market for medical education continues to gain power by boosting the number of learners interested in pursuing medical education, which would help the market achieve traction in the next few years.
In recent years, there has been a steep growth in the patient population and diseases have evolved in centuries. There has been increase in the need for appropriate medical education in current scenario. This is attributed to the outbreak of abrupt epidemics and pandemics. These are the class of viral diseases, which were never studied earlier. For instance, COVID-19 is closely related to the SAARs virus, however, the viral genome has changed its genetic material overtime, which made it difficult to find the therapeutics. Thus, all these factors collective are anticipated to boost the current requirement of medical education, which is anticipated to propel the medical education market growth in the next few years.
Increase in the number of mergers and acquisitions is anticipated to boost the attention of the population and hence propel the industry growth during the forecast period. For instance, in October 2020, Atrium Health on Friday finalized its acquisition of Wake Forest Baptist Health, creating an expanded 42-hospital health system with a footprint in four states.
Under the acquisition, first announced in April 2019, Wake Forest Baptist Health and Wake Forest School of Medicine became the academic core of Atrium Health, which will build a medicine school in Charlotte, now the largest city in the nation without a year-year medical school.
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Questions answered in the global medical education market research report:
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