Latest 2021 Insights on The Medical Animation Market
What is medical animation?
The field of 2D and 3D animation currently has a vast number of potential clients looking for the right VR or AR company to hire. Medical animation is a series of animated videos and renderings that are created specifically to explain, or portray medical information. This information could include the steps to a medical procedure such as a complicated surgery, or it could also include educational content aimed to market a certain medical service or product to willing customers. But in layman’s terms, the animation is a collection of digitized images that allow visual objects such as images to be put into motion so that the feeling of movement can be mimicked. And of course, animations can be useful in several different fields. From entertainment to education, to marketing, to go so far as being a useful tool in the analysis of complex physical structures.
Regardless of the endless potential uses of animation technology, medical animation is still one of the largest growing industries related to animation. And as such, this industry has several different benefits for the healthcare industry.
Benefits of medical animations
There are a few different stakeholders in the healthcare industry that benefit from the inclusion of medical animations. These benefits range from ease of access to information to an efficient training system for future healthcare workers. When speaking about benefits for the patients, medical animations allow patients to learn in detail about their medical conditions so that they can know exactly what is wrong with their bodies. And that’s not all, patients are also able to learn about the different things they can do to help themselves with easy-to-understand instructions on the topic of self-medication.
Coming back to the benefits for future healthcare workers, medical animation can help in the training of doctors and nurses by providing animated video lessons instead of lectures which will allow doctors to learn through visual aids. Another benefit for the future of healthcare training is that the use of medical animations will eventually make its way into an integrated learning and practice system which will utilize augmented and virtual reality. This advancement is currently being researched by Microsoft and other global tech giants and is aimed at helping doctors practice complex medical procedures without having to waste resources such as medical instruments and cadavers.
Furthermore, even pharmaceutical students can benefit from using medical animations to help them understand the molecular structure of medicines and the interactions they have with the human body on a molecular level. This will be able to help advance the industry to a new frontier and will be beneficial in providing insights to subjects such as neurology and microbiology by providing in motion explanations of how different biological components interact with each other during metabolic processes.
The global medical animations market was valued at upwards of USD 175 Million in 2020 and was given a CAGR of 20.8% for the upcoming year. This market of 175 million is currently divided between too many players to even count, however, several key players have seized a larger market share than their rather small competitors.
Key players and their strengths in the Medical Animation Market
The top key players in the medical animations market are:
Recommended by the National Library of Medicine (NLM), Videvo is filled to the brim with a total of 1500 stock medical clips including animations and live-action videos. You can even choose to download the videos to your liking. However, a few of them may be stuck behind a paywall. Of course, not all the videos are paid for. There are many basic concepts you can explain using the free stock videos available on Videvo. The stock videos can be used as many times and in various situations as per your preferences. However, the one condition is that you would have to mention credits to the original author of the clip.
Nucleus Medical Media
Nucleus Media is a subsidiary of EBSCO Industries. With a library consisting of around 18,000 medical animations and other stock videos. Nucleus Media is currently working as an educational resource that is available with the library at any registered institute. However, if you’re looking to use their services without being affiliated with a school or university, you can sign up for a 30-day free trial.
Pond5 is a large name in the medical animation market, with over 64,000 medical animations and millions of other stock photos and videos, it provides users with a chance to gain access to royalty-free videos regardless of their membership or lack thereof. But, there are certain advantages to becoming a member on their website, including high-quality videos for affordable prices, 10 free downloads every month, and an exclusive filter to help find “Members Only” content out of the millions of videos they have available. What’s more, Pond5 provides many Free Editing Tools to help you change videos at will and create content that works only for your unique ideas.
StoryBlocks is a free downloadable library of medical animations and live-action videos. However, the only condition that pertains to the usage of this resource is that the video can only be downloaded by registered members. Their membership programs are flexible and can be availed by both businesses and individuals. The degree of flexibility varies depending on which payment plan is selected. The cheapest plan allows up to five High Definition downloads per month, while a more premium package can allow users to download limitless medical animations and other video content. The same package is offered to businesses and is even able to allow multiple users to download videos on the business plan.
Infuse Medical is the largest player in the medical animations market, with a high-quality clientele in its portfolio. They currently cater to a significant portion of Hospitals and Pharmaceutical companies in the United States which rely on their high-quality animations and are willing to pay at exorbitant rates to create animations for investors and doctors in training.
Hybrid Medical Animation
Another giant in the Medical Animation industry, Hybrid Medical Animations caters to elite hospitals and offers services such as creating interactive animations for education and training, animations for investor relations which are provided to multiple hospitals, and the creation of iOS applications that act as interactive medical reference e-books.
Another key player in the industry, Ghost Productions holds an impressive portfolio that mainly focuses on working for renowned pharmaceutical agencies such as Abbott, and Johnson & Johnson. They are experts in providing illustrative animations for surgical practice and interactive applications. They are even capable of doing creating Remote VR systems for medical training in situations such as Covid outbreaks.
Mainly focused on the teaching industry, Scientific Animations specializes in creating animations for the pharmaceutical and medical devices industry. Aside from their regular services, they emanate a sense of fun in their applications and animations for all their clients, as is evident from scrolling through their website.
One of the most recent emerging players in the market, Animation Iconix dabbles in creating healthcare animated explainer video for investor presentations and marketing purposes. As they aren’t just an animation company, Animation Iconix has astonished many players with the level of activity they have in an industry that is monopolized by a few large players.
Although it is unclear how much each player holds in the market, their services are availed by healthcare providers, medical device manufacturers, and pharmaceutical agencies, so it is safe to say that the combined market share of the above-mentioned companies comes close to 50 million USD.
Regardless of who leads this industry, medical animations are one of the latest advances in the healthcare and teaching industry that have taken the world by storm. This industry will likely grow to a very large number by the year 2026 because of their projected CAGR which is currently estimated to be 20.8% meaning that the industry will grow by that percentage each year and will bring many advancements such as the integration of AR and VR technology which is even being done in the year 2021. Despite the healthy competition in the industry, many experts would feel safe while betting on Animation Iconix to become a key player with a larger market share in the coming five years.