STM Publishing: a growing market
Media and publishing forecast firm Simba Information, US, recently released a report that provides detailed market information for scientific, technical and medical (STM) publishing, segmented by delivery medium – journals, books, online services, newsletters/looseleafs, directories, and other (audio, video and CD-ROM).
According to the report, amid budgetary pressures and a slow economic recovery, the combined markets for STM publishing grew 3.4 percent to $21.1 billion in 2011.
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.
In the scientific and technical segment, journals lead the delivery medium with nearly 42 percent 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 percent 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.
The report, Global STM Publishing 2010-2011, analyses 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.