The global medical animation
market is expected to reach a value of USD 514.0 million by 2024, according to
a new report by Grand View Research. Key factors driving the market growth
include the higher adoption of medical animation marketing by medical devices
manufacturers and pharmaceutical products. It helps in explaining product
features and communicating associated information with end users.
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| Medical animation market: Regional dynamics |
The information represented by
animation is more appealing and easy to transmit. These aforementioned benefits
are expected to boost the usage rate in near future. In addition, the paradigm
shift, in healthcare information technology, such as digitalization, is
anticipated to contribute towards the market growth in the next few years. The
medical animation market has gained momentum after the introduction of
cloud-based platforms and 3D printing technology in healthcare.
Furthermore, the introduction
of technologically advanced software for image analysis, such as Medical Image
Processing, Analysis, and Visualization can be attributed to the market growth.
This application enables researcher from remote sites share valuable
information and analyze the research data to detect, monitor, and treat medical
disorders. Medical animation is a
versatile tool for communicating complex scientific procedures in an
interactive manner and used in a variety of business aspects such as marketing,
web presentations, social media, tradeshows and advertising. Increasing
adoption of this technology is expected to serve as a potential growth driver
in the future.
The increasing investment by
private and public sector, growing geriatric population coupled with increasing
demand for computer-aided diagnostics, and incidence of chronic diseases are
major factors fueling the increasing usage rates of this technology. In
addition, this technology found application in various sectors, for instance;
it helps healthcare professionals explain human body metabolism to patients,
which helps in reducing patient’s anxiety level and educates them about various
disease condition.
In depth research report on Medical Animation Market
Further Key Findings from the Study Suggest:
·
Flash animation is expected to
be one of the most lucrative segment in near future due to increasing demand
for patient engagement by healthcare professionals. On the other hand, 3D
animation found application in clinical research studies, improving patient
education, and simplifying complex procedures in bioscience studies by
representing them into an animated form
·
Growing demand for
technologically advanced medical animation solutions is expected to contribute
towards the growth of 3D animation during the forecast period
·
In 2015, the drug mechanism of
action segment accounted for the largest revenue share. The use of animation
for explaining drug interactions and metabolic studies in new drug development
are key contributing factors for this segment growth. This technology is used
in animating preproduction, full production and post production process of drug
molecules
·
However, the patient education
segment is expected to emerge as the fastest growing segment as awareness
levels amongst patients, introduction of user-friendly apps and concerns related
to health information are increasing. For instance, introduction of 3D medical
application such as complete anatomy in November 2015 by 3D4 medical used for
anatomical studies
·
Currently, oncology segment
dominates the market and is expected to be the fastest growing therapeutic area
using this technology. Increasing incidence of cancer worldwide is a key
contributing factor for growing demand of medical animation studies to explain
disease mechanisms to patients
·
For instance, XVIVO, showcased
animation software at the American Society of Clinical Oncology (ASCO) and also
helped in the depiction of mechanism of action of Bavituximab, an investigative
drug, believed to strengthen the immunity system in cancerous environment
·
Other end users of this market
are life science companies, medical device manufactures, government
authorities, forensic department, medico-legal firms, and insurance provider
companies. This segment is expected to grow at fastest CAGR due to wide usage
of 3D bioprinting and biosimulation studies in these fields
·
For example, in forensic
studies, a medical animation is used to elaborate crime scene and medico-legal
firms use 3D animation to explain pain management procedures, surgical
techniques, and presenting anatomical studies. There are various surgical and
clinical audiovisual animation studies available online
·
Asia Pacific is expected to be
the fastest growing region during the forecast period. The growing geriatric
population, increase in the chronic diseases, and ongoing development in
healthcare sector is the factors anticipated to provide future growth platform
for this industry in the next 7 years
·
In addition, rising outsourcing
activities in this region due to availability and low cost of labor are
anticipated to propel segment growth over the forecast period. For example, in
India, the cost of medical animation services is 20% to 25% lower than the U.S.
and Europe
·
The medical animation market is
experiencing high competition as there are many small and big organization that
offer these services. Introduction of low-cost software solutions for medical
simulation is expected to boost the competition and is also expected to benefit
several end users over the forecast period
·
Companies are involved in
adopting sustainable strategies to gain competitive edges such as new product
launch, product up gradation and collaborative agreements. For example, In
April 2016, Fusion medical animation launched biotech brand services aimed at
designing and developing innovative visuals for better understanding of complex
products The aforementioned factors keeps the market rivalry at higher level
Grand View Research has
segmented the medical animation market by type, application, therapeutic area,
end-use and region:
Medical Animation Market Type Outlook (Market revenue in
USD Million, 2013 – 2024)
·
3D Animation
·
2D Animation
·
4D Animation
·
Flash Animation
Medical Animation Market Application Outlook (Market
Revenue in USD Million, 2013 – 2024)
·
Drug MoA
·
Patient Education
·
Surgical Training &
Planning
·
Cellular & Molecular
Studies
·
Others
Medical Animation Stationary Therapeutic Area Outlook
(Market Revenue in USD Million, 2013 – 2024)
·
Oncology
·
Cardiology
·
Plastic Surgery
·
Dental
·
Others
Medical animation Market End-use Outlook (Market Revenue
in USD Million, 2013 – 2024)
·
Hospitals
·
Life sciences
·
Academic institute
·
Medical device manufactures
·
Others
Medical Animation Market Regional Outlook (Market Revenue
in USD Million, 2013 – 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa
o
South Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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