Number of pages: 100 | Report Format: PDF | Published date: February 14, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market Size Value in 2021 |
US$ 3.4 billion |
Revenue Forecast in 2030 |
US$ 21.40 billion |
CAGR |
20.20% |
Base Year for Estimation |
2021 |
Forecast Period |
2022-2030 |
Historical Year |
2020 |
Segments Covered |
Type, Therapeutics Area, Application, End User, and Region |
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global medical animation market was valued at US$ 3.4 billion in 2021 and is expected to register a revenue CAGR of 20.20% to reach US$ 21.40 billion by 2030.
Market Fundamentals
Medical animation is a multidisciplinary field that combines the most recent advances in animation technology, medicine, and science. The use of cutting-edge techniques, such as 3D animation, virtual reality, and augmented reality, has transformed how medical information is communicated, making it easier for healthcare providers to educate patients and students on complex medical topics. The medical animation industry has been experiencing a remarkable upward trend in recent years, owing to the integration of sophisticated technologies and the growing demand for visual aids in the healthcare sector. Medical animations, which are visual representations of intricate medical procedures, devices, and processes, serve as a crucial medium in medical education, patient communication, and drug development. The need for enhanced patient engagement and comprehension of complex medical concepts has fueled the demand for these animations.
The combination of scientific analysis with high-end computer graphics and animation capabilities is projected to propel the medical sector forward. Increased predevelopments, followed by rising R&D activities employing 3D animation technology for visualization during new medication development, are expected to create high demand for animated studies to explain the drug mechanisms. This, in turn, is expected to fuel the industry expansion during the forecast period. The 3D animation is one of the accepted medical animations kinds by firms that enable a better sense and depth of procedure or a particular product. This helps to grab the interest and leave a positive impression or urge customers to buy.
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Market Dynamics
The introduction of start-up firms, developing pharmaceutical and biopharmaceutical sectors, and developments in medical technology are driving revenue growth in the medical animation industry. Moreover, the market is predicted to grow as more healthcare professionals employ medical animation techniques to teach medical procedures or even other scientific topics with much-increased comprehension. The role of this technology in patient education has resulted in an increase in patient enrolment in illness management or wellness programs. This illustrates the technology's potential for the future. Integrating medical animation into mobile apps by combining real-time media-rich content with quantifiable data and configurable techniques for numerous medical devices and pharmaceutical firm sales is expected to result in a lucrative opportunity for the development of the medical animation market.
Market Ecosystem
The global medical animation has been analyzed from five perspectives: type, therapeutics area, application, end user, and region.
Medical Animation Market by Type
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Based on type, the global medical animation market has been segmented into 2D, 3D, 4D, and Flash Animation.
The 3D animation segment dominated the market due to the benefits associated with its usage, such as effective healthcare communication and the development of medical mechanics. Moreover, the rise of digitization is projected to fuel the utilization rates for 3D animation in the near future.
Medical Animation Market by Therapeutic Area
Based on the therapeutic area, the global medical animation market has been segmented into oncology, cosmeceuticals/plastic surgery, cardiology, dental, and others.
The oncology segment is anticipated to dominate the market during the forecast period. The market is driven by rapidly rising cancer incidence rates and increasing consumer demand for medical animation to explain disease processes. Rising levels of awareness, substantial research, and academic institutions are driving market expansion.
Medical Animation Market by Application
Based on the application, the global medical animation market has been segmented into drug mechanism of action (MoA) and approval, patient education, surgical training and planning, cellular and molecular studies, and others.
The drug mechanism of action segment dominates the market with the highest revenue share. This is mostly due to increased usage of medical animation by pharmaceutical companies for medicine marketing, promotion, and approvals, as well as for showcasing the mechanism of action of their goods.
Medical Animation Market by End User
Based on the end user, the global medical animation market has been segmented into academic and life science institutes, hospitals, surgical centers and clinics, medical device manufacturers, and others.
The academic & life science institutes segment is expected to dominate the market during the forecast period. The use of biological representation and 3D computer images in healthcare marketing campaigns further strengthens the academic & life science segment's dominance.
Medical animation is becoming increasingly popular as a tool for educating patients, clinicians, and surgeons in surgical centers and clinics. Medical animation can help patients understand complex medical procedures, such as surgery. Patients can better understand what will happen during their procedure by seeing a visual representation, leading to decreasing anxiety and increasing confidence levels. Surgeons can use medical animation to plan and prepare for complex procedures. They can identify potential issues and make necessary changes to the plan by visualizing the procedure in 3D. Continuing education programs for clinicians and surgeons can benefit from medical animation. It can help healthcare professionals improve their understanding and skills by visualizing complex procedures and concepts.
Continuing education programs for clinicians and surgeons can benefit from medical animation. It can help healthcare professionals improve their understanding and skills by visualizing complex procedures and concepts. It can also be used to market and promote surgical centers and clinics' services. They can attract new patients and establish a strong online presence by showcasing their expertise and technology through visually appealing animations.
Medical Animation Market by Region
Based on region, the global medical animation market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America is expected to dominate the market during the forecast period. Due to increased research and development, North America dominates the market for medical animation. The presence of substantial pharmaceutical enterprises will also assist in expanding the medical animation market in the area throughout the forecast period. The medical animation industry in Asia Pacific is predicted to expand rapidly due to increased government spending on healthcare. Furthermore, it is expected that the region's medical animation sector will increase shortly due to the rising demand to use medical animation to educate patients.
Competitive Landscape
Some of the prominent market players in the global medical animation market include:
Asia Pacific is the key revenue growth region in the global medical animation market.
The rising healthcare digitization and increased adoption of medical animation in academic and life science institutes are the key drivers of the global medical animation market.
Infuse Medical, Hybrid Medical Animation, Inc., XVIVO, Ghost Productions, Inc., and Visible Body are the key market players.
The global medical animation market is expected to be valued at US$ 21.40 billion by 2030.
The global medical animation market is expected to register a revenue CAGR of 20.20% during the forecast period from 2022 to 2030.
*Insights on financial performance are subject to the availability of information in the public domain