by The global medical animation market, which crossed the $300 million threshold in 2021, is set to experience robust double-digit growth in the coming years, according to a comprehensive market study. The report provides valuable insights into the factors driving this growth and identifies key opportunities within the industry.
Increasing Application of Animations in Medical and Pharma Fuels Growth
Medical animation has emerged as a vital tool for professional training and patient education. Its versatile applications encompass patient education, elucidating drug mechanisms of action, aiding surgical planning and training, facilitating cellular and molecular studies, offering emergency care instructions, supporting forensic reconstruction, and much more. Healthcare professionals, medical students, pharmaceutical companies, and various medical-related organizations are increasingly turning to medical animations to explain complex medical procedures and scientific concepts, resulting in higher comprehension among audiences.
The technologys role in patient education has led to increased patient enrollment in wellness and illness management programs. For instance, the World Health Organization (WHO) reported that cancer claimed the lives of approximately 10 million people globally in 2020. The integration of medical animation into mobile apps presents a lucrative opportunity by combining real-time, media-rich content with measurable data, benefiting medical device and pharmaceutical companies. This technology has also been employed to assist cancer patients, further expanding its impact.
Smartphones and Pharma Utilization Drive Market Expansion
The growing popularity of smartphones and the adoption of animation by pharmaceutical companies for marketing and medication information dissemination are additional drivers of the medical animation market. In a highly competitive landscape, companies are deploying strategies such as new product development, mergers and acquisitions, and technological advancements. Notably, Graphite Capitals acquisition of Random42 in July exemplifies this trend, strengthening Random42s presence in Europe while boosting North American sales.
Rising Incidence of Cancer Propels Growth
The market is segmented by therapeutic specialties, including cancer, dental, cosmeceuticals/plastic surgery, cardiology, and other therapeutic areas (ENT, digestive system, orthopedics, ophthalmology, neurology, and gynecology). Among these, the other therapeutic areas category holds the largest market share due to academic institutions increasing adoption for teaching purposes and the rising demand for animated studies describing pharmacological mechanisms, driven in part by the growing incidence of cancer and the corresponding surge in R&D for new medications.
North America Leads the Way
North America dominates the medical animation market, driven by major pharmaceutical corporations, rising healthcare expenditure, a high concentration of market leaders, and an uptick in surgical procedures in the United States. Governmental organizations in the region provide guidelines and regulations for the development of technologically advanced software, further promoting adoption. The American Association of Medical Illustrators plays a pivotal role in advancing scientific visualization, and online journals are expected to accelerate acceptance. Patient interaction preference in healthcare, patient enrollment in wellness programs, and pharmaceutical companies use of medical animation for product promotion and mechanism of action explanation are all contributing to the markets growth in the United States.
Competitive Landscape
Several key players are shaping the medical animation market, including Infuse Medical, Scientific Animations, Inc., Productions, Inc., Nucleus Medical Media, Inc., INVIVO Communications, Inc., Understand.com, AXS Studio, Inc., Hybrid Medical Animation, Inc., Random42 Scientific Communication, Blausen Medical Communications, Inc., Radius Digital Science, Ghost Trinsic Medical Animation, LLC., Animated Biomedical Productions, Visible Body, Elara Systems, Inc., Viscira, and Medmovie, Inc.
As the medical animation market continues to surge, these developments highlight the growing importance of visual and interactive tools in the healthcare and pharmaceutical sectors, promising advancements in patient education, surgical training, and scientific communication.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/medical-animation-market
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This press release first seen on Brilad
COMTEX_442126343/2840/2023-10-19T11:02:58
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.