Increasing Demand for Continuing Medical Education and Training
The rising demand for continuing medical education (CME) and training is a significant driver for the U.S. medical events market. Because healthcare keeps evolving with new advancements, professionals in this field must continue their education. CME helps doctors, nurses and other healthcare professionals keep up with the most recent developments in medicine. It is typical for U.S. doctors to complete CME hours, since a majority of states legally require doctors to do so to keep their licenses. Based on information from ACCME, in 2022 there were 230,000 educational activities provided in the U.S., shows a 13% increase in accredited educational activities compared to 2021, with live activities rebounding by 6%. Based on a study by MRFR in 2024, The U.S. CME market was approximately USD xx billion in 2024 and is predicted to grow to USD xx billion by 2029, with an average growth rate of xx% each year. An increase in demand leads to stronger growth in the medical events market since CME conferences, symposiums, workshops and training events are a major aspect of the overall events sector.
u.S. mEDICAL eVENT MARKET: Number of Accrediated Educational Activities in US
Because of the move to specialty fields in health care, there are now many more CME events for oncology, cardiology and neurology, making them attractive for the companies, groups and institutions that organize them. Since evidence-based medicine is used more often in healthcare, professionals look for top-tier educational formats and these are often presented best at live events and hybrid meetings. Nowadays, in recent years, using hybrid CME ensures more people can join and provides more convenient ways to participate, especially since the pandemic. As a result, traditional events have not been taken over, but they have seen more participants and more engagement all around. As a result of these fast-paced additions to the market, companies are using CME events to help them train physicians and thus create greater demand. Here, the increasing demand for CME should not be seen only as a rule but also as an important strategy for both healthcare institutions and professionals. It highlights how CME-focused healthcare events are important for the healthcare system by sharing knowledge, improving medicine in hospitals and aiding doctors in their careers. With progressive changes in healthcare, CME will keep playing a key role in the growth of U.S. medical events.
Expanding Pharmaceutical and MedTech Industry Footprint
The rise in the importance of events by the pharmaceutical and MedTech sectors in the U.S. is a significant driver in the medical events industry expansion. More than 1,800 MedTech companies and 2,300 name-brand pharmaceutical firms are found in the U.S. and many of these participate in running, sponsoring or joining scientific conferences, workshops and innovation exhibitions. They help bring together different experts involved in healthcare so that industry leaders and healthcare professionals can learn about recent research, product news and technologies. This is well shown by the high attendance at the Medical Design & Manufacturing West Conference in 2022, where over 13,000 people took part and almost 1,400 exhibiting companies joined. Companies in the pharmaceutical industry usually organize advisory board meetings, CME symposia and clinical trial investigator conferences which are increasing in both quantity and scale together with the industry’s expanding product line. We should not forget that both industries are becoming more and more complex and rely heavily on technology.
Considering the FDA approved 55 new drugs in 2023, a large portion of which deal with cell and gene therapies, businesses now have to teach clinicians about how to use them which side effects are expected and who can best benefit.
u.S. mEDICAL eVENT MARKET: Leading US Medtech & Pharma by region
In addition, the use of smart and advanced tools in the medical field needs routine interactive education, usually presented at focused conferences or events. The organization AdvaMed noted in their 2023 report that over 68% of MedTech organizations in the U.S. raised their spending on clinical and professional training, most of which used event-based ways for this purpose. Also, when regulations change or new compliance rules are introduced, event activity is encouraged. The Sunshine Act and FDA now require that healthcare providers and industry communicate in a clear and measured way. As a result, companies now commonly use medically approved formats and workshops at prominent medical gatherings to communicate with doctors. They enable companies to train employees ethically and provide them with important knowledge. Pharma’s merger with technology is leading to a rise in events focused on both drug development, diagnostic tests and digital health, making the number and variety of events greater. All in all, the rise in activities and education efforts by pharmaceutical and MedTech companies is a key factor fueling the U.S. medical events market. With faster innovation and the creation of new cures and technologies, the demand for quality and compliant event platforms will rise, pushing the industry toward further growth.
Growing Number of Specialized Healthcare Professionals
Having more trained healthcare experts in the United States is pushing for quicker growth in the medical events market. Because the healthcare system in the U.S. is focusing more on specialist treatments and better outcomes, more nurses, doctors and others are looking for platforms that let them improve their skills. Based on the AAMC, active physicians in the US numbered more than 989,320 in 2022 and approximately two-thirds of them worked in sectors such as internal medicine, surgery, radiology and psychiatry. It is reflected in advanced practice positions too: the U.S. Bureau of Labor Statistics says the number of nurse practitioners (NPs) could rise by 46% and the number of physician assistants (PAs) by 27%, both much more than the average for most jobs.
With an increasing variety of roles in medicine, experts want more personalized educational materials which is usually given at conferences, seminars, education workshops and gatherings that unite various medical fields. The purpose of these events is to help specialists update their knowledge about the latest advances in medical technologies, proper treatment plans and changes in regulations. For instance, the ASCO meeting last year attracted more than 40,000 specialists in clinical oncology from many countries, showing the importance and number of activities needed for this workforce. In the same way, conferences held by the American College of Cardiology and Radiological Society of North America have both online and in-person audiences growing, mainly because specialists seek the latest knowledge in their specialty fields.
u.S. mEDICAL eVENT MARKET: Enumeration of physician workforce in medical specialites
Additionally, Medical events help to foster networks and leads to better patient referrals in places where care is designed to coordinate. Specialists from several areas may cooperate, for instance, neurologists along with psychiatrists or endocrinologists talking to bariatric surgeons. These situations lead to increased interest in meetings where experts from various specialties can come together and make joint decisions. Also, more and more specialist professionals joining clinical research and product evaluation at these events has attracted the industry, so we now see strong support and co-development of content from healthcare companies and these associations.
