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.
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
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
Asia Pacific
·
Japan
·
China
·
India
·
Latin America
·
Brazil
·
Mexico
·
Middle East and Africa
·
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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