Expanding at a 4.3% CAGR over the course of the forecast period, the global medical education market is poised to rise from a value of US$25.9 bn in 2015 to US$38.4 bn by 2024. By mode of education, the medical education market is led by on-campus training. Changing student preferences will restrict the demand for distance training by 2024, TMR predicts. However, online training is fast emerging as a lucrative mode of medical education and this segment is likely to register the highest CAGR of 7.29% from 2016 to 2024.
Medical Education Growth Driven by Technology
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