Medical Animation Market Expected to reach USD 407.71 million by 2023 | Industry Key Players are Infuse Medical, AXS Studio, Visible Body, Elara Systems, Animated Biomedical Productions, INVIVO Communications, Trinsic Medical Animation, Viscira, and Medmo

Medical Animation Market Overview:

Medical animations are educational videos in which a physiological or surgical topic is clarified with the help of rendered computer graphics. Among the large range of audiences to whom they are shown to, main share is held by medical professionals and patients. In the beginning, these animations were of primitive nature, but they become more intricate as time progressed since processors became more advanced. They can be viewed by themselves or with additional devices such as electronic lenses, haptic gloves and head mounted displays among others.

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Medical animations are used for a more variety of applications. They are using in getting a fully informed consent from patients before a surgical process is performed on them. Since cadavers are hard to find, surgical instructions can be explained by using the animated videos. Animations can be used to demonstrate numerous biological processes which take place inside a cell. They also can be used to explain the mechanism of the action of pharmaceutical drugs. In cases of emergency, these medical animations can be used to help novices in performing cardiovascular resuscitation. In the field of forensics, these animations can be used in recreating a crime scene to be produced in the court.

The Global Medical Animation market is driven by factors such as increasing geriatric population, rising penetration of electronic devices such as smartphones, tablets and computers, growing number of pharmaceutical companies using medical animations, increasing number of surgeries, rising growth of advancements in technology and entry of start-ups among others. However the market is constrained by aspects like high cost of generating medical animations.

Medical Animation Market Forecast Report (2018-2023):

The Global Medical Animation Market worth was USD 166.12 million in 2018 and estimated to be growing at a CAGR of 19.67%, to reach USD 407.71 million by 2023.

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Medical Animation Market Segmentation:

The Global Medical Animation Market is classified based on type into 3D animation, 2D animation, flash animation and real-time animation. Based on therapeutic area, the market is divided into cardiology, cosmeceuticals, oncology, dental and other end users. By end users, the market is classified into life science companies, academic institutes, hospitals, surgical centres and clinics, medical device manufacturers and other end users. By application, the market is classified into drug mechanism of action, cellular and patient education, molecular applications, surgical training and planning and other applications.

Medical Animation Geographical Market Segmentation:

The Global Medical Animation market is patient education, based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America holds the large market share in the world which is followed by Europe and Asia-Pacific. The highest growth rate is observed by the Asia-Pacific region.

Key Developments in the Market:

1. Companies are involved in adopting sustainable strategies to attain competitive edges such as new product launch, product up gradation and collaborative agreements.
2. In April 2016, The Fusion medical animation launched biotech brand services aimed at designing and developing new visuals for better understanding of complex products. The aforementioned factors keep the market rivalry at high level.
3. XVIVO, showcased animation software at the American Society of Clinical Oncology (ASCO) and helps in the depiction of mechanism of action of Bavituximab, an investigative drug, supposed to strengthen the immunity system in cancerous environment

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Key Players in this Market:
Some of the major players in the market include Infuse Medical (U.S.), Hybrid Medical Animation, Inc. (U.S.), Ghost Productions, Inc. (U.S.), 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.), Scientific Animations, Inc. (U.S.), INVIVO Communications, Inc. (Canada), Random42 Scientific Communication (U.K.), Blausen Medical Communications, Inc. (U.S.), Trinsic Medical Animation, LLC. (U.S.), Viscira (U.S.), Understand.com (U.S.), and Medmovie, Inc. (U.S.).

The scope of the report:

1. Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the untapped regions.
2. Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
3. Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
4. Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
5. Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
6. A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
7. Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
8. An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

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