(PharmaNewsWire.Com, October 02, 2020 ) This market is expected to reach USD 301.3 Million by 2021 from USD 117.3 Million in 2016, at a CAGR of 20.8%.
A number of factors such as rising adoption of medical animation by life sciences & medical device companies; entry of start-ups in the medical animation market; growing pharmaceutical/biopharmaceutical and medical devices industries; increasing penetration of smartphones, tablets, and other mobile platforms; and rising geriatric population and growing number of surgeries globally are expected to drive the growth of the medical animation market during the forecast period.
In this report, the global medical animation market is segmented on the basis of type, therapeutic area, application, end user, and region. Based on type, the medical animation market is categorized into 3D animation, 2D animation, real-time imaging (4D animation), and flash animation. The 3D animation segment is expected to account for the largest share of the medical animation market in 2016. However, the real-time imaging (4D animation) segment is projected to grow at the highest CAGR during the forecast period.
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.
Based on therapeutic area, the medical animation market is segmented into oncology, cardiology, cosmeceuticals/plastic surgery, dental, and other therapeutic areas (ENT, gastroenterology, orthopedics, ophthalmology, neurology, and gynecology). The other therapeutic areas segment is expected to account for the largest share of the market in 2016; while, the cosmeceuticals/plastic surgery segment is projected to grow at the highest CAGR in the forecast period.
Based on application, the medical animation market is segmented into drug mechanism of action (MoA) and approval, patient education, surgical training and planning, cellular and molecular studies, and other applications (medical simulation, medical legal, forensic reconstruction, and emergency care instructions). The drug mechanism of action (MoA) and approval segment is expected to account for the largest share of the market in 2016; whereas, the patient education segment is projected to grow at the highest CAGR during 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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