PUBLISHER: Grand View Research | PRODUCT CODE: 1363095
PUBLISHER: Grand View Research | PRODUCT CODE: 1363095
The U.S. academic medical centers market size is expected to reach USD 1.44 trillion by 2030, based on a new report by Grand View Research, Inc.. It is projected to register a CAGR of 5.37% during the forecast period. The market's growth can be attributed to better access to the latest breakthroughs and treatment procedures and the launch of new AMCs in the U.S.
Academic Medical Centers (AMCs) are rapidly shifting towards the latest technologies and treatment models owing to the rising research funding from the federal government. For instance, in May 2022, the University of Maryland School of Medicine partnered with University of Maryland College Park (UMCP) computer scientists, engineers, and University of Michigan physician-scientists to launch MIXR, a new Center for Medical Innovations in Extended Reality. Such initiatives by the major facilities are expected to drive the market's growth over the forecast period.
The COVID-19 pandemic has negatively impacted the market's growth during the initial phase, owing to reduced patient demand and closures of research operations at these centers to limit the spread of the virus. Moreover, medical education was significantly impacted. Many medical schools had to transition to virtual or hybrid learning models, disrupting traditional in-person clinical rotations and hands-on training. However, the pandemic accelerated the adoption of telemedicine and virtual care models. Academic medical centers had to quickly implement telehealth solutions to continue providing patient care while minimizing in-person interactions. This shift prompted a reconsideration of healthcare delivery models.