With Over 70% Share, North America and Europe to Remain at the Top of the Ladder in Medical Holography Space
Fact.MR's latest report on the medical holography market provides a 6-year forecast through 2020 & beyond. The report further explicates crucial dynamics such as drivers, challenges, and opportunities connected with the medical holography market's expansion. To present the information in a vivid way, the report has been segmented into product, application, end use, and region.
NEW YORK, Sept. 1, 2022 /PRNewswire/ -- The global medical holography market is expected to grow from US$ 447.8 million in 2019 to US$ 3.5 billion by 2026, exhibiting a CAGR of 34.0% throughout the forecast period.
Growth in the market is driven by increasing adoption of holography products in medical education, biomedical research, and clinical applications, surge in chronic diseases like cancer, and growing awareness about the benefits of holographic procedures.
Over the years, holography has emerged as a promising technique used across medical industry for creating detailed imaging or visualizing patient data for different applications. It allows doctors to improve the quality of medical education and research by creating a holographic image.
Medical holography is being increasingly used to reconstruct the image of tissue samples which helps to perform tissue surgeries. The technique helps doctors for proper diagnosis and treatment in a secure and timely manner by creating 3D images of body parts. The application of holographic imaging has resulted in significant advancements in biomedical research as well as medical teaching and training.
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Growing popularity of holographic technology due to its various benefits is pushing the adoption of medical holography products across research laboratories, schools and colleges, and hospitals globally.
Similarly, factors such as rising investments in digital holography and growing awareness of the clinical applications of medical holography are predicted to boost market growth during the forecast period.
In addition to this, increasing investments in biomedical research, technological developments in operating rooms, and growing need for tailored drugs will continue to push the demand for medical holography solutions during the forthcoming years.
Regionally, North America and Europe will cumulatively account for over 70% of the global medical holography market during the forecast period. This can be attributed to rising adoption of advanced imaging technologies in biomedical research, increasing R&D activities, and strong presence of leading market players.
Key Takeaways:
- By product, holographic displays segment is expected to account for around 70% share of the global medical holography market
- The holographic microscopes segment will grow at the fastest CAGR of 36.2% during the forecast period.
- Based on application, biomedical research segment will account for more than three-fifths of the market.
- North America is expected to grow at the fastest CAGR of 35.5% through 2026, accounting for more than two-fifth of the market share.
- Medical holography market in Europe is poised to grow at a stupendous CAGR of 34.0% during the forecast period.
- With rising investments in medical research, the U.S. medical holography market is likely to exhibit strong growth during the forthcoming years.
Growth Drivers:
- Increasing usage of holography products in medical education and biomedical research will foster market growth.
- Expanding clinical applications of holography is likely to push demand in the global medical holography market during the forecast period.
- Growing awareness about the benefits of medical holography will further aid in the market expansion in future.
Restraints:
- High computational cost of processing holograms is likely to hinder the growth of the medical holography market.
- The future expansion of the medical holography market will face further obstacles due to technological limitations and less effective projection in sunlight.
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Competitive Landscape:
The main participants in the market are concentrating on technological breakthroughs by introducing new products with advanced features. For instance,
In May 2019, Aestheia Imaging launched XTHEIA, an interactive holographic display with a virtual consult assistant designed for medical office waiting rooms.
In August 2021, HOLOSCOPE-i-holographic system from Realview Imaging Ltd was given 510(K) approval by the Food and Drug Administration. Based on data from regular CT scans and 3D ultrasound devices, the technology produces spatially accurate three-dimensional interactive medical holograms.
In June 2022, Bruker Corporation announced the availability of the NeuraLight 3D Ultra module, which will facilitate advanced neuroscience and optogenetics research applications on Bruker's ultima multiphoton microscopes.
Key Companies Profiled by Fact.MR
- RealView Imaging Ltd.
- EchoPixel Inc.
- Integraf LLC
- Koninklijke Philips N.V, Holoxica Ltd.
- HoloTech Switzerland AG
- EON Reality Inc.
- Lyncee Tec SA
- Nanolive SA
- zSpace Inc.
More Valuable Insights on Medical Holography Market
In the latest study, Fact.MR offers a detailed study on global medical holography market for the forecast period of 2020 to 2026. This study also highlights key drivers promoting the sales of medical holography through detailed segmentation as follows:
By Product:
- Holographic Display
- Holography Microscope
- Holographic Prints
- Holography Software
By Application:
- Medical Imaging
- Medical Education
- Biomedical Research
- Medical Holography Market: In-Depth Analysis on Competitive Landscape
By End-User:
- Academic Centers
- Pharmaceutical & Biotechnology Companies
- Hospitals
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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Key Questions Covered in the Medical Holography Market Report
- What is the projected value of the medical holography market in 2020?
- At what rate will the global medical holography market grow until 2026?
- Which are the factors hampering the growth in the medical holography market?
- Which region is expected to lead in the global medical holography market during 2020-2036?
- Which are the factors driving the medical holography market during the forecast period?
- What is the expected market value of the medical holography market during the forecast period?
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