Accreditation Council for Continuing Medical Education or (ACCME), Association of American Medical Colleges (AAMC), National Resident Matching Program (NRMP), American Council for Graduate Medical Education (ACGME), and American Medical Association award license to practice medicine in the U.S., whereas in the U.K., the General Medical Council is responsible for registering every new practitioner of medicine.
The global general medicine education publishing market is estimated to account for US$ 6,651.5 Mn in terms of value by the end of 2027.
Global General Medicine Education Publishing Market: Drivers
Increasing prevalence of lifestyle-associated diseases is expected to propel growth of the global general medicine education publishing market over the forecast period. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.
Global General Medicine Education Publishing Market: Opportunities
Increasing investment in the education sector is expected to offer lucrative growth opportunities for players in the market. For instance, the Government of India allocated US$ 11.23 billion to the education fund in 2018, which increased by 10% in 2019 to reach US$ 12.39 billion.
Global General Medicine Education Publishing Market: Restraints
Availability of free educational material, especially through Android apps, is expected to hinder growth of the market.
The global general medicine education publishing market was valued at US$ 3,888.6 Mn in 2019 and is forecast to reach a value of US$ 6,651.5 Mn by 2027 at a CAGR of 7.0% between 2020 and 2027. Increasing prevalence of lifestyle-associated diseases is expected to propel growth of the global general medicine education publishing market over the forecast period
Online publishing segment in the global general medicine education publishing market in 2019, accounting for 42.0% share in terms of value. Increasing adoption of online courses is anticipated to drive the market growth during the forecast period.
Mobile apps market in the Eastern hemisphere is yet to catch up with the trend of online education since most of the Asian market is an android cell-phone market and makes up over 85% of current smart phones market. This has reduced the market for apps since many android mobile educational apps are available for free.
Custom publishing is currently one of the most lucrative markets for most publishers and is currently on a rising trend. The custom publishing market is a multi-billion dollar market every year with great opportunities in the medical segment. It is highly lucrative since the cost of custom publishing is much higher than conventional publishing. It is mostly undertaken by large corporations and universities who have dedicated sources of funds allocated for publishing university brochures, product catalogues, unique edition books in very high quality paper and many other variations.
Global General Medicine Education Publishing Market: Competitive Landscape
Major players operating in the global general medicine education publishing market include, RELX plc, Kaplan, Inc., McGraw-Hill Education, Springer Nature Switzerland AG, Thieme Medical Publishers, John Wiley & Sons, Inc., and Wolters Kluwer N.V.
Global General Medicine Education Publishing Market: Key Developments
February 2020: Thieme Medical Publishers started to provide free access to specialist information on the coronavirus and other respiratory viruses at www.thieme.com/coronavirus
January 2020: John Wiley & Sons, Inc. acquired mthree, an education services provider and a part of ECI Partners LLP
Scope of the report