Medical animation is a video or documentary that explains the mechanism of action (MoA) of a medical equipment, biomedical technology, pharmaceutical drug, or anatomical or biological process using 3D motion graphics. Animations are utilised in the therapeutic and medical fields for a variety of purposes, including educational purposes, surgery simulation, demonstrations, and therapy analysis and comparative evaluation, among others. Low healthcare literacy among developing nations, high adoption of medical animation by drug companies, healthcare institutions are expected to fuel the market growth during the forecast period.
MARKET SCOPE
The "Global Medical Animation Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the medical animation market with detailed market segmentation by type, therapeutic area, application and end user. The report provides key statistics on the market status of the leading medical animation market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type the market is segmented as, 3D animation, 2D animation, real time imaging (4D animation), and flash animation.
- Based on therapeutic area the market is segmented as, oncology, cardiology, cosmeceuticals/plastic surgery, dental, and others.
- Based on application the market is segmented as, drug mechanism of action (MOA) & approval, patient education, surgical training & planning, cellular & molecular studies, other applications.
- Based on end user the market is segmented as, life science companies, medical device manufacturers, hospitals, surgical centers, & clinics, academic institutes, other end users.
MARKET DYNAMICS
Drivers:
- Low healthcare literacy among some of the developing nations.
- Growing adoption of medical animation by drug companies, healthcare institutions, medical device industries is also expected to spur the market growth.
- Growth in drug companies and medical devices companies.
- Increasing technology penetration by growing number of smart phones, smart devices etc.
- Growing number of surgeries performed globally which often require medical animation for illustration purpose.
Restraints:
- However, high cost of medical animations is likely to hamper market growth during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medical animation market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the medical animation market in these regions.
IMPACT OF COVID-19 ON MEDICAL ANIMATION MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the medical animation market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from medical animation market are anticipated to lucrative growth opportunities in the future with the rising demand for medical animation in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the medical animation market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- INFUSE MEDIA GROUP, LLC
- Hybrid Medical Animation
- Elara Systems, Inc
- Scientific Animations, Inc.
- INVIVO
- Random42 Scientific Communication
- Radius Digital Science
- Nucleus Medical Media
- AXS Studio
- XVIVO Scientific Animation