E-learning Management Systems and Content Grow Rapidly Due to Dynamic Health Care Needs
E-learning Management Systems and Content Grow Rapidly Due to Dynamic Health Care Needs
(PRWEB) December 2, 2004
The constant innovation in the health care market drives continuous education for industry and medical professionals. In order to meet the needs of this dynamic training environment, many health care companies and organizations use e-learning to leverage their other training methods. E-learning, defined as training conducted over the Internet, network, or other means of electronic transmission, is very effective at training sales representatives, managers, and medical professionals, while also accommodating their hectic work and travel schedules. According to a new report by Millennium Research Group (MRG), the market for health care e-learning, including learning management systems (LMS) and content, was valued at over $ 110 million in 2003 and will rise to more than $ 200 million by 2008.
The market for LMS, which provides an electronic framework to manage, track, and provide training, is being driven by health care organizations (such as Kaiser Permanente, an alliance of hospitals across the US). Health care organizations have not been significant purchasers of LMS systems in past years, but this will change over the forecast period as they realize the cost-benefits of utilizing e-learning in lieu of traditional training.
Though health care organizations will be the fastest-growing customer segment, health care companies, such as Pfizer and Boston Scientific, will continue to represent the largest segment of the LMS market. Health care companies have substantially larger information technology and training budgets than health care organizations due to their larger revenue base. Moreover, health care companies have significantly greater training requirements because they have to train both their internal staff and customers, including physicians and nurses.
The content segment of the e-learning market will grow at a much faster rate than the LMS market. First, content must be refreshed constantly to educate stakeholders in the new techniques, regulations, and products that stream onto the health care market, whereas a LMS only needs to be purchased once every few years. Furthermore, expenditures on content are continually growing due to increasing regulatory requirements, such as HIPAA (The Health Insurance Portability and Accountability Act of 1996), and the increasing technical intricacy of medical devices and pharmaceuticals.
MRG’s US Markets for Health Care E-learning 2004 report covers hundreds of different competitors including Accelera, Digiscript, DigitalThink, GeneEd, Healthstream (HSTM), I.C. Axon, Medsn, Pathlore, Plateau, Saba (SABA), SumTotal (SUMT), THINQ, and Vitesse Learning.
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.
Contact Information:
Rena Manglal-Lan
Millennium Research Group Inc.,
(416) 364-7776 ext. 145
http://www.mrg.net
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