Transparency Market Research (TMR) has published a new report on the medical education market for the period of 2019–2027. According to the report, the global medical education market was valued at nearly US$ 31 Bn in 2018, and is projected to expand at a CAGR of more than 4% from 2019 to 2027. Rise in the number of medical schools and increase in cost of medical education are the major factors expected to drive the global medical education market from 2019 to 2027.
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Increase in Number of Medical Schools to Drive the Medical Education Market
- Globalization has had an unprecedented effect on medical education across the world. The global medical education market is expected to expand at a CAGR of more than 4% from 2019 to 2027.
- A number of trends have been observed in the medical education market. Increase in privatization of medical schools, rise in the number of medical schools, surge in the number of students seeking medical education, and migration of medical students are all contributing to the growth of the global medical education market.
- New collaborative models between medical schools across the world have further fuelled the medical education market. Emerging countries are investing in healthcare infrastructure in order to improve the quality of services and expand the access of services, which would require more medical professionals. This is likely to fuel the global medical education market.
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