(PharmaNewsWire.Com, May 05, 2020 ) Medical animation is an educational video or movie created using 3D motion graphics to explain the mechanism of action (MoA) of a medical device, biomedical technology, pharmaceutical drug, or an anatomical or biological process. Animations are used in the medical & pharmaceutical sectors for educational purposes, demonstrations, simulation of surgeries, and analysis and comparative evaluation of treatment among others.
The medical animation market is poised to reach USD 301.3 Million by 2021, growing at a CAGR of 20.8% during the forecast period of 2016 to 2021. The growth of the overall market can be contributed to the rising adoption of medical animation by pharmaceutical and life sciences companies; entry of start-ups; growing pharmaceutical/biopharmaceutical and medical devices industries; increasing penetration of smartphones, tablets, and other mobile platforms; and rising geriatric population coupled with the growing number of surgeries globally.
In the coming years, the market is expected to witness the highest growth rate in the Asia-Pacific region. North America is expected to account for the largest share of the global medical animation market. However, the high cost of medical animation services is expected to restrain the growth of this market to a certain extent.
On the basis of end user, the medical animation market is segmented into life science companies; medical device manufacturers; hospitals, surgical centers, and clinics; academic institutes, and other end users (medico-legal firms, forensic departments, government bodies, and insurance companies). The life science companies segment is expected to account for the largest share of the market in 2016 and is projected to grow at the highest CAGR in the forecast period.
Geographically, the global medical animation market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, Middle East, and Africa). North America is expected to account for the largest share of the medical animation market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is projected to grow at the highest CAGR, and serves as a revenue pocket for companies offering medical animation.
Prominent players in the global medical animation market include Infuse Medical (U.S.), Hybrid Medical Animation, Inc. (U.S.), Ghost Productions, Inc. (U.S.), Scientific Animations, Inc. (U.S.), INVIVO Communications, Inc. (Canada), Random42 Scientific Communication (U.K.), Radius Digital Science (U.S.), Nucleus Medical Media, Inc. (U.S.), AXS Studio, Inc. (Canada), Visible Body (U.S.), Elara Systems, Inc. (U.S.), Animated Biomedical Productions (Australia), XVIVO Scientific Animation (U.S.), Blausen Medical Communications, Inc. (U.S.), Trinsic Medical Animation, LLC. (U.S.), Viscira (U.S.), Understand.com (U.S.), and Medmovie, Inc. (U.S.).
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