Global Medical Animation Market Predicted to Accelerate the Growth by 2018-2026
Medical animation is
an integral part of any medical technology, as it can deliver a clear
details about medical technology. The development in computer
software and hardware with the efforts by various universities have
developed a link between science and art, which led to a formation of
new generation of information, technology, and designers in the
medical field for both scientific and medical illustration purposes.
The combination of scientific analysis with high end computer
graphics and animation capabilities is expected to take the medical
sector to the next level of advancement. Rising prevalence of cancer
followed by rising R&D activities using 3D animation technology
for visualization during new drug development will create the demand
for animated studies to explain the drug mechanisms expected propel
the industry growth over the forecast period. As, 3D animation is one
of the adopted medical animation type by companies that enable better
sense and depth of procedure or a particular product which helps to
capture the interest and leave a positive impression or motivate
people to make a purchase.
The global medical
animation market is valued at US$ 176.60 million in 2017 and is
expected to witness a CAGR of 19.3% over the forecast period (2017 –
2025).
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Market
Dynamics
The companies are
adopting competitive strategies such as new product development,
merger & acquisitions and technology upgradation to sustain in
the medical animation competitive market. For instance, In July 2017,
Random42 was acquired by Graphite Capital, a mid-market private
equity firm. Random42, which provides high-quality medical animation
and digital media services to the healthcare and pharmaceutical
industry was planning to expand geographically in Europe while
continuing to grow its North American sales. Investment from graphite
capital could help it to meet its objective. By the use of computer
technology, the medical animators can create short movies, which
could be used in various applications such as, patient education,
emergency care education, drug formula simulation and various other
purposes. This in turn expected to create lucrative opportunities for
the medical animation market. On the flip side, time constraint is a
major factor that may hamper the growth of medical animation market
as there are several feedback rounds, and at two points the client’s
legal, regulatory and medical approval is needed for the production.
Key features
of the study:
-
This report provides in-depth analysis of medical animation market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017–2025), considering 2016 as the base year
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It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
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This study also provides key insights about market drivers, restraints, opportunities, regulatory scenario, regional outlook, and competitive strategy adopted by the leading players
Detailed
Segmentation:
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Global Medical Animation Market, By Type:
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2D, 3D, 4D, Flash Animation
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Promotion of
the new product launches by manufacturers with the help of animated
companies is a prominent factor fueling market growth
Increasing adoption
of medical animation techniques by healthcare professionals for
demonstrating medical procedures or other scientific purposes with a
significantly higher comprehension is expected to propel growth of
the medical animation market. Since this technology aids in educating
patients, an increasing patient enrolment in disease management or
wellness programs is witnessed. This showcases the potential for this
technology in near future. Fusion of this medical animation into the
mobile apps by combining real time media rich content with measurable
data and configurable tools for various medical device and
pharmaceutical company sales is also expected to create a lucrative
opportunities for the growth of the medical animation market.
On the basis of
regional segmentation, the global medical animation market can be
segmented into North America, Europe, Asia Pacific, Latin America,
Middle East, and Africa. North America is expected to account for the
largest share followed by Europe and Asia Pacific. Medical animation
market in North America is driven by factors, such as increasing
number of pharmaceutical companies using animation for product
promotion and medical education, and rising penetration of electronic
devices such as smartphones. Therefore, the companies are adopting
competitive strategies such as new product development, merger &
acquisitions and upgrading technology to sustain in the medical
animation competitive market.
The key players
operating in the global market of medical animation include Infuse
Medical, Hybrid Medical Animation, Inc., Ghost Productions, Inc.,
Scientific Animations, Inc., INVIVO Communications, Inc., Random42
Scientific Communication, Radius Digital Science, Nucleus Medical
Media, Inc., AXS Studio, Inc., Trinsic Animation, and Medmovie Inc.
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Medical Animation Market
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