Stamford, CT - January 6, 2012 - Amid budgetary pressures and a slow economic recovery, the combined markets for science, technical and medical (STM) publishing grew 3.4% to $21.1 billion in 2011. According to a recent report from media and publishing forecast firm Simba Information, journals are the leading delivery medium, but online services posted the fastest growth.
The market is split evenly between the medical publishing segment and the scientific and technical publishing segment, with the latter posting a faster growth rate in 2011. Each segment is driven by a need for professionals to stay on top of the latest advances. However, a range of trends, including contracting library budgets against rising journal prices and a decline in pharmaceutical advertising, have deterred growth.
"The growth trends for the science and technical segment are found in e-book production and increased output from emerging foreign markets, notably India which is expected to be on par with most G8 nations by 2017," said Dan Strempel, author of the report. "Medical publishing is pushing mobile content delivery, with notable products Doximity and Sharecare."
In the scientific and technical segment, journals lead the delivery medium with nearly 42% of the market, while online services (electronic products that link content with other types of data, software and solutions) came in second, but posted the fastest growth at 6.4% in 2011. The delivery medium ranking for medical publishing mirrors its scientific and technical counterpart, with the exception of online services which is the fourth leading medium.
"Since researchers, scientists and medical professionals prefer online delivery, journals have been able to remain the leader, as they are easily adapted for online publication," said Strempel. "Online services centered around workflow solutions, have been a major focus of publishers' product development and growth strategies."
The report, Global STM Publishing 2010-2011, provides detailed market information for scientific, technical and medical publishing, segmented by delivery medium: journals, books, online services, newsletters/looseleafs, directories, and other (audio, video and CD-ROM). It analyzes trends impacting the industry, including library cost pressures, the use of social networking, the outlook for pharmaceutical advertising and more. The report includes 20 detailed profiles of the leading STM publishers, including Reed Elsevier, Wolters Kluwer, Springer Science+Business Media, Pearson, Epocrates, Hearst and others. It is available at: http://www.simbainformation.com/redirect.asp?progid=82858&productid=6059305
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