Efforts to Boost Clinical Education among Healthcare Personnel to Aid Market Growth
There is no dearth in development across the healthcare sector in terms of technology, products, surgical techniques, cost management, etc. The progress in technology coupled with research and development activities has played a key role in transforming the healthcare industry over the past couple of decades. With the growing presence of digital media and increasing penetration of the Internet, medical professionals are increasingly required to stay afloat with evolving digital trends that are gradually establishing a solid presence across the healthcare system around the world. Evolving health management techniques and regulatory landscape across the healthcare sector is expected to have a strong influence on the overall development of the global healthcare learning management system market during the forecast period.
The failure to comply within the purview of the regulatory guidelines is a major challenge faced by the medical professionals around the world. This is affecting the quality of care provided to the patients. Over the past decade, the demand for healthcare learning management systems has witnessed considerable spike due to the shifting paradigm toward digital learning or eLearning modules. Moreover, medical facilities around the world are increasingly investing resources toward training and development of their employees, thus fueling the demand for healthcare learning management systems.
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At the back of these factors, the global healthcare learning management system market is on the course to surpass the US$ 3.5 Bn mark by the end of 2030.
Surge in Demand for Training and Development Modules to Drive Market
The healthcare sector has witnessed waves of innovations over the past few years. The healthcare space continues to reinvent itself in tune with evolving market trends and technological advancements. Technological progress has remained the backbone of development across the healthcare space, and is expected to have a strong influence on educational as well as administrative practices in the upcoming years. The increasing penetration of the information technology (IT) in the healthcare industry is anticipated to provide an impetus to the overall growth of the healthcare learning management system market during the assessment period.
The demand for healthcare learning management systems is on the rise, due to benefits including ease of learning from any location, inclusion of a wide range of courses related to healthcare, training modules that can be designed in accordance with ongoing and upcoming trends, and self-assessment tools to determine the progress. For several years, the educational sector has remained at the forefront in terms of the adoption of learning management systems. However, the trend is gradually changing, as the healthcare sector is steadily emerging as one of the most prominent end-use industries. The healthcare learning management system market continues to grow among patients as well healthcare providers around the world. While learning management systems enable healthcare providers to offer high-quality care and services, these systems educate patients regarding treatment, various therapies, etc. Some of the most common courses of healthcare learning management systems particularly in developed regions include preventive care course, cultural sensitivity course, discharge process reformation, and patient education and treatment adherence.
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Adoption of Healthcare Learning Management Systems to Increase amid Ongoing COVID-19 Pandemic
Players operating in the current healthcare learning management system market landscape are increasingly focusing on improving their offerings and making design improvements to their courses to gain a competitive edge. A number of medical associations around the world is increasingly turning toward healthcare learning management systems to educate their staff and personnel regarding the evolving regulatory landscape and trends across the healthcare sector. For instance, the nurse association in several parts of developed regions, including North America is increasingly relying on healthcare learning management systems to improve clinical education. The American Nurses Association is among the most prominent associations around the world that has integrated the existing information systems into a compact healthcare learning management system to create a customized learning experience.
The outbreak of the COVID-19 pandemic is expected to have a strong impact on the overall growth of the global healthcare learning management system market, due to increasing focus on education regarding various protocols and guidelines that are to be followed during patient interaction, surgeries, and more.
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Healthcare Learning Management System Market: Overview
- According to a latest research report on the global healthcare learning management system market published by Transparency Market Research for the historical period 2018–2019 and the forecast period 2020–2030, rise in demand for high quality training for healthcare professionals is anticipated to propel the healthcare learning management system market during the forecast period. Healthcare learning management systems can help healthcare professionals stay updated with continuous training. The common features of learning management systems include online learning courses, communication and collaboration, content management, tests and assessments, e-Commerce, mobile learning, gamification, and social learning, which are expected to fuel the growth of the healthcare learning management system market.
- In terms of revenue, the global healthcare learning management system market is estimated to exceed the value of US$ 3.5 Bn by 2030, expanding at a CAGR of ~22% during the forecast period
Rise in Adoption of Digitalized Learning in Healthcare Sector: A Key Driver
- Healthcare is one of the fastest growing sectors, and an area that is reinvented repeatedly to deliver complete and advanced service to patients. The healthcare sector needs to adapt to new technologies, trends, and methods in medical, administrative, and educational practices.
- Healthcare organizations often conduct training programs in order to develop and evaluate their working staff. As a result of technological innovations, organizations have abandoned their traditional methods of learning, and adopted more efficient and effective learning solutions that engage talent and improve performance.
- Furthermore, increased mobility in learning, adoption of social media, and lining up of learning programs with business objectives are expected to propel the demand for healthcare learning management systems in the near future. For instance, the American Nurses Association (ANA) uses learning management systems to boost clinical education.
- Hence, rise in adoption of digitalized learning solutions and significant investments by market players are expected to fuel the growth of the healthcare learning management system market
- However, lack of self-motivation among learners due to non-availability of instructors, poor Internet connectivity, and improper management of learning software are anticipated to hinder the healthcare learning management system market
- Learners may find eLearning isolated due to lack of interaction, and hands-on courses are difficult to simulate. Hence, these factors are projected to restrain the healthcare learning management system market.
Advancements in Technology in Healthcare Sector
- Demand for healthcare learning management systems to improve online training has also been positively impacted, due to the growing focus on artificial intelligence, machine learning, and edge computing across healthcare industries
- Additionally, the adoption of BYOD has been rising over the past few years. Thus, enterprises are able to collect data electronically, anywhere and at any time. This helps organizations to implement advanced healthcare learning management systems.
Healthcare Learning Management System Market: Key Developments
- Key providers of healthcare learning management systems, such as Adobe Systems Inc., ADP Inc., GE Healthcare, HealthcareSource HR, Inc., and SAP SE are focusing on the development of cost-effective healthcare learning management systems to attract more customers
- Additionally, players active in providing healthcare learning management systems are focusing on inorganic growth strategies such as strategic collaborations and mergers & acquisitions with technology partners to improve their offerings and market reach in the healthcare learning management system market
- Some other key developments in the global healthcare learning management system market have been highlighted below:
- In October 2022, Pathway Health, a learning management system provider, launched Pathway Learning Network, a new learning management system for healthcare or post-acute care providers
- In July 2022, Apollo Pharmacy introduced myGurukool, a digital learning management system, to enhance capabilities and skills of its employees
- In October 2019, Baptist Health, a provider of advanced medical technology, launched technologically advanced healthcare learning management system platforms
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