Medical Animation Market Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
The global medical animation market is valued at US$ 176.60 million in 2017 and is expected to witness a CAGR of 19.3% over the forecast period (2017 – 2025).
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Promotion of the new product launches by manufacturers with the help of animated companies is a prominent factor fueling market growth
Increasing adoption of medical animation techniques by healthcare professionals for demonstrating medical procedures or other scientific purposes with a significantly higher comprehension is expected to propel growth of the medical animation market. 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.
On the basis of regional segmentation, the global medical animation market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account for the largest share followed by Europe and Asia Pacific. Medical animation market in North America is driven by factors, such as increasing number of pharmaceutical companies using animation for product promotion and medical education, and rising penetration of electronic devices such as smartphones. Therefore, the companies are adopting competitive strategies such as new product development, merger & acquisitions and upgrading technology to sustain in the medical animation competitive market.
In Asia Pacific, the medical animation market is favored by increasing skills of the company sales representatives, customer engagement activities, and rising adoption of medical animation for patient education purpose.
The key players operating in the global market of medical animation include Infuse Medical, Hybrid Medical Animation, Inc., Ghost Productions, Inc., Scientific Animations, Inc., INVIVO Communications, Inc., Random42 Scientific Communication, Radius Digital Science, Nucleus Medical Media, Inc., AXS Studio, Inc., Trinsic Animation, and Medmovie Inc.
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