Medical Animation Market Rising at 20.8% CAGR to Reach $301.3 Million by 2021
Medical animation market is to reach USD 301.3 million by 2021 growing at a CAGR of 20.8% during the forecast period of 2016 to 2021 and dominated by the North America with the largest share of the global medical animation.
Pune, India – May 30, 2016 /MarketersMedia/ —
The medical animation market is poised to reach USD 301.3 million by 2021 from USD 117.3 million in 2016, growing at a CAGR of 20.8% during the forecast period of 2016 to 2021. The 3D animation segment is expected to account for the largest share of the medical animation market, by type, in 2016. 3D animation provides viewers a greater sense of perspective, and enables clear understanding of the key concepts in a forensic case; this is contributing to the large share of this segment.
Complete report on global medical animation market spread across 160 pages, profiling 12 companies and supported with 79 tables and 73 figures is now available at http://www.reportsnreports.com/reports/567883-medical-animation-market-by-type-3d-2d-4d-therapeutic-area-oncology-cosmeceutical-plastic-surgery-application-drug-moa-patient-education-end-user-medical-device-manufacturers-hospitals-clinics-forecast-to-2021.html .
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 and pharmaceutical sectors for educational purposes, demonstrations, simulation of surgeries, and analysis and comparative evaluation of treatment.
The drug mechanism of action (MoA) and approvals segment is expected to account for the largest share of the medical animation market, by application, in 2016. The rising adoption of medical animation by pharmaceutical companies for showcasing the MoA of drugs as well as for the marketing, promotions, and approvals of products is driving growth in this market segment.
The oncology segment is expected to account for the largest share of the global medical animation market, by therapeutic area, in 2016. This is attributed to the increasing awareness amongst healthcare professionals on various diseases, injuries, and defects; and rising adoption among academic institutes to explain and provide instructions to students on physiotherapy and pre- and post-orthopedic procedures. The life science companies segment is estimated to account for the largest share of the medical animation market, by end user, in 2016. Life sciences companies mainly use medical animation as a marketing tool to promote new drugs and product offerings.
North America is expected to account for the largest share of the global medical animation market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American region can be attributed to the presence of major pharmaceutical companies, increased healthcare spending, presence of top market players, increasing number of surgeries in the U.S., and growing medical devices industry in Canada. The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the growing pharmaceutical industry, growing number of medical institutes in India, lucrative medical devices industry in China, and entry of local players and low cost of medical animation in India.
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 Med movie, Inc. (U.S.). Ask for the discounted copy of the report of Medical Animation Market by Type (3D, 2D, 4D), Therapeutic Area (Oncology, Cosmeceutical/Plastic Surgery), Application (Drug MoA, Patient Education), End User (Medical Device Manufacturers, Hospitals/ Clinics) – Forecast to 2021 research report at http://www.reportsnreports.com/contacts/discount.aspx?name=567883 .
The medical animation market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (agreements, partnerships, joint ventures, collaborations, expansions, new product launches, and acquisition) to increase their market shares and establish a stronger foothold in the global market.
On a related note, another research on Medical Image Analysis Software Market Global Forecasts to 2020 says, the medical image analysis software market is expected to reach USD 3,135.3 Million by 2020 from USD 2,143.7 Million in 2015, at a CAGR of 7.9% from 2015 to 2020. North America is expected to dominate the market in 2015, with the U.S. accounting for a major share of this regional segment. The research is based on by Type, Image (2D, 3D, 4D), Modality, Application and End User.
Companies like AGFA Healthcare, Aquilab, Carestream Health, Inc., Esaote S.p.A, GE Healthcare, Merge Healthcare, Inc., MIM Software Inc., Philips Healthcare, Siemens Healthcare and Toshiba Medical Systems Corporation have been profiled in this 312 pages research report available at http://www.reportsnreports.com/reports/203752-medical-image-analysis-software-market-integrated-standalone-market-technologies-x-ray-ct-ultrasound-mri-spect-pet-image-type-2d-3d-4d-indications-neurology-cardiology-radiology-global-trends-opportunities-forecasts-till-2017.html .
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