The global medical publishing market is expected to post a CAGR of more than 3% during the period 2019-2023, according to the latest market research report by Technavio. However, the market’s momentum will decelerate in the coming years because of the decrease in year-over-year growth.
The popularity of digital publishing has increased significantly over the years, owing to benefits such as reduced costs, wider reach, and targeted marketing strategies. Digital publishing is also increasingly being adopted by medical publishing companies to provide online access to the medical content they publish. Thus, the adoption of digital publishing is increasing among medical researchers and medical publishers, which will have a significant impact on the medical publishing market growth during the forecast period.
According to Technavio, the transition toward the OA publishing model will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyses other important trends and market drivers that will affect market growth over 2019-2023.
The preference for OA model over traditional subscription-based publishing has increased significantly because of benefits such as easy access and inexpensive business model. Subscription-based publication limits users from accessing research publications because of the expensive journal subscription fee. There are many advantages of adopting OA models, such as knowledge enhancement, improved patient care, and access to information about new developments. Thus, the transition toward the OA publishing model will be one of the key medical publishing market trends that will fuel growth during the forecast period.
This market research report segments the global medical publishing market by product (journals, print books, and e-books), and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the medical publishing market in 2018, followed by Europe, APAC, South America, and MEA, respectively. The growth of the medical publishing market share in North America can be attributed to factors such as the growing investments in medical research and trials, and the presence of many universities with a vast medical research background.
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