The report focuses on the competitive landscape of the Medical Animation industry and dwells on the influential development of policies and plans that will determine the market’s trajectory in the forecast period.
Animation and graphics industry has, till now, nurtured Medical Animation as a niche area. However, as per the observations in the past couple of years, it is clear that medical animation is now arousing the interest of various pharmaceuticals manufacturers, life sciences research firms, medical organizations, and medical device manufacturers, and even new firms in both traditional and emerging markets to step into this space in a bid to gain a greater share of market revenues.
The global medical animation market size was worth 118.5 million in 2016, and is anticipated to grow at a Compound Annual Growth Rate of more than 20% during the forecast period.
The startup culture in the healthcare and life sciences sectors has facilitated medical animation in becoming a mainstream trend. With the emergence of newer generation of healthcare companies, a need has arisen to present information in a visually appealing and informative format, leading to an exciting battle among companies in the medical animation market.
Key Segments of Medical Animation Market
The medical animation market can be segmented based on:
- Therapeutic Area
- Oncology
- Cardiology
- Cosmeceuticals/Plastic Surgery
- Dental
- Other Therapeutic Areas (ENT, Gastroenterology, Orthopedics, Ophthalmology, Neurology, and Gynecology)
- Applications of the technology
- Patient education
- Medical device or Drug formula simulation
- Molecular or Cellular animation
- Emergency care education
- Surgical training
- Forensic reconstruction
- Type of animation
- 4D animation
- 3D animation
- 2D animation, and
- Flash animation
- End user
- Life sciences companies
- Medical device manufacturers
- Hospitals, surgical centers, and clinics
- Academic institutes
- Medico-legal firms, forensic departments, government bodies, and insurance companies
Industry Insights
As there is increasing adoption of medical animation in the pharmaceutical marketing field (for various purposes including education and promotion), the market growth is expected to rise over the forecast period.
There is also rising demand for advanced techniques, such as flash and real-time animation, that can potentially offer conducive growth opportunities in coming years.
Moreover, increasing preference toward the patient engagement in healthcare sector is anticipated to boost the growth during the forecast period. 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.
Government organizations like American Association of Medical Illustrators, provide information and resources (books, business tools, client guides, and expert techniques and online journals) that encourage adoption of scientific visualization, hence, facilitating the growth of technologically enhanced software. They can be helpful in achieving higher penetration of this technology.
- Growth as a Product
Owing to the advantages attached to the use of 3D animation as a tool for effective healthcare communication and elaboration of medical mechanics, the segment held a dominating share in 2016. 3D animation is also used extensively in forensic science for visualizing crime scenes or accident. These are certain factors that are contributing to its largest revenue share as of now. The emergence of digitalization is also anticipated to escalate the usage rates for 3D animation in near future.
- Application based growth
Explaining drug mechanism of action in pharmaceutical companies and promotion of healthcare products, offering surgical training to the doctors, educating patients about the treatment of specific diseases are among the top applications of medical animation.
These factors, accompanied by rigorous competition in the healthcare sector and growing need of enhanced marketing tools, are anticipated to contribute further toward the growth.
- Therapeutic Area: A Profitable Segment
With the development of new drugs by R&D and rising prevalence of cancer, the demand for animated videos explaining drug mechanisms also rises, which, in turn, propels the growth of the industry. In 2016, the therapeutic segment witnessed the largest share in revenue.
- From the point of End-user
Increasing research activities for the development of new product and related awareness concerning to various injuries, diseases and defects, the adoption of animated studies is anticipated to increase in coming years.
Advent of biological illustration and 3D computer graphics in healthcare marketing is contributing towards the dominant share of life science segment.
- We are ready for the Competition
Scientific Animations has always been a leading brand in the medical animation market. We are constantly adopting competitive strategies such as new product development, technology upgradation and merger & acquisitions to sustain the growing competition.
