the decline of the donnish dominion

All this sounds as though a golden age for universities has arrived. But inside academia, particularly in Europe, it does not feel like it. Academics complain about “the decline of the donnish dominion” (the title of a book by A.H. Halsey, a sociologist), and administrators are locked in bad-tempered exchanges with the politicians who fund them. What has gone wrong?

So in all too much of the academic world

So in all too much of the academic world, the writer Kingsley Amis's famous dictum that more means worse is coming to pass. Academic salaries are declining when measured against similar jobs elsewhere, and buildings and libraries are deteriorating.

"the new health care"

The fourth is competition. Traditional universities are being forced to compete for students and research grants, and private companies are trying to break into a sector which they regard as “the new health care”. The World Bank calculates that global spending on higher education amounts to $300 billion a year, or 1% of global economic output.

the new health care" - я не в теме, но похоже что все (частные компании) ломанулись в сферу образования, как раньше в сферу здравоохранения, потому что почуяли потенциальную прибыль

Если да, то я бы предложил "пытаются проникнуть в отрасль [сектор], которую по прибыльности сравнивают с отраслью здравоохранения"

Тут надо знать, что у них там было со здравоохранением... Контекст, в общем, нужОн ... экстралингвистиццкий