PUBLISHER: The Business Research Company | PRODUCT CODE: 1500074
PUBLISHER: The Business Research Company | PRODUCT CODE: 1500074
A healthcare learning management system (LMS) is a software platform tailored for the healthcare sector, aimed at facilitating the delivery, management, and tracking of training and educational programs for healthcare professionals. These platforms offer personalized training resources, ensure regulatory compliance, support staff onboarding, and monitor performance.
The components of a healthcare learning management system include solutions or platforms and services. A healthcare learning management platform is an online software system specifically engineered to streamline the management, delivery, and tracking of educational content and training programs within the healthcare industry. Deployment models encompass on-premise and cloud solutions, delivered through distance learning, instructor-led training, and blended learning approaches. Various applications of these systems include care course training, compliance training, cultural sensitivity courses, pharmaceutical product education, and others, intended for use in educational institutes, healthcare facilities, corporate training facilities, and pharmaceutical facilities.
The healthcare learning management system market research report is one of a series of new reports from The Business Research Company that provides healthcare learning management system market statistics, including healthcare learning management system industry global market size, regional shares, competitors with healthcare learning management system market share, detailed healthcare learning management system market segments, market trends, and opportunities, and any further data you may need to thrive in the healthcare learning management system industry. This healthcare learning management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The healthcare learning management system market size has grown exponentially in recent years. It will grow from $1.24 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The growth observed during the historic period can be attributed to regulatory compliance requirements, shortages in skilled healthcare workforce, a focus on patient-centered care, and the globalization of healthcare.
The healthcare learning management system market size is expected to see exponential growth in the next few years. It will grow to $3.64 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%. The anticipated growth in the forecast period can be attributed to factors such as cost-efficiency, integration with electronic health records, personalized learning paths, and emphasis on continuous professional development. Major trends expected during the forecast period include the utilization of blockchain for credentialing, immersive learning experiences, personalized learning analytics, and the promotion of social and collaborative learning.
The rise in healthcare spending is poised to drive the expansion of the healthcare learning management system market in the foreseeable future. Healthcare encompasses a range of services aimed at maintaining and improving physical and mental well-being through medical treatments, preventive care, and rehabilitation. The increase in healthcare spending is attributed to various factors such as demographic changes, advancements in technology, escalating healthcare expenses, and policy adjustments. Healthcare organizations are directing funds towards training and educational endeavors to enhance the skills and knowledge of their workforce. Healthcare learning management systems facilitate the efficient delivery of training content, enabling organizations to maximize their investment impact by reaching a broader audience, reducing training costs associated with traditional methods, and improving learning outcomes. For example, in December 2023, the Centers for Medicare & Medicaid Services reported a 5.9% increase in Medicare spending in 2021, reaching $944.3 billion, constituting 21% of the total National Health Expenditures (NHE), while hospital expenditures grew by 2.2% to $1,355.0 billion. Consequently, the upward trend in healthcare spending is propelling the growth of the healthcare learning management system market.
Key players in the healthcare learning management system market are focusing on developing innovative solutions, such as app-based learning and assessment platforms, to enhance educational experiences and outcomes. App-based learning and assessment platforms are software solutions designed to deliver educational content and assessments via mobile applications. For instance, in September 2023, Manipal Education and Medical Group launched the MedAce app, a comprehensive learning and assessment platform tailored for undergraduate medical students preparing for postgraduate courses. MedAce integrates various components, including Learn for Bachelor of Medicine and Bachelor of Surgery (MBBS) students, incorporating micro-learning, live tutoring, labs, and gamified assessments, along with Prep for medical postgraduates, providing personalized test prep, study plans, and curated content. This initiative aims to revolutionize medical education by leveraging Manipal Group's expertise.
In November 2022, Symphony Technology Group acquired EthosCE for an undisclosed sum. Through this acquisition, Symphony seeks to enhance its software platform, offering comprehensive health and event solutions in alignment with its strategy of creating a unified platform for education and events. EthosCE is a developer of healthcare learning management systems based in the US.
Major companies operating in the healthcare learning management system market are Oracle Corporation, SAP SE, GE Healthcare, Adobe Systems Inc., ADP Inc., Cerner Corporation, Infor Inc., Skillsoft, Instructure Inc., HealthStream Inc., Articulate Global Inc., PeopleFluent, Docebo, Absorb LMS Software Inc., Kallidus Ltd., InfoPro Learning Inc., Thought Industries, Paradiso Solutions, iSpring Solutions Inc., Tovuti LLC., Escalla Ltd., EthosCE, Gyrus Systems, SkyPrep Inc., Trivantis Corporation
North America was the largest region in the healthcare learning management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare learning management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the healthcare learning management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The healthcare learning management system market includes revenues earned by entities by providing services such as online course delivery, regulatory compliance management, performance tracking and assessment, and certification and credentialing management. The market value includes the value of related goods sold by the service provider or included within the service offering. The healthcare learning management system market also consists of sales of content authoring tools, compliance training modules, mobile learning apps, and reporting and analytics tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Healthcare Learning Management System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on healthcare learning management system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for healthcare learning management system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The healthcare learning management system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.