The medical holography market is set to record impressive growth, expanding at a whopping CAGR of 34.0% during the forecast period (2020-2026). The high adoption of holographic devices for diagnosing chronic conditions such as cardiovascular diseases and cancer, rising financial impetus from government and private organizations and a surging geriatric population pool having chronic conditions are attributed as important growth levers.
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Researchers have also advocated that medical holography procedures can be effectively exploited to diagnose COVID-19 infections among asymptomatic patients. These tests are expected to provide greater accuracy over the standard RT-PCR tests. Further research is still underway in order to ascertain the viability of such tests.
Key Takeaways of Medical Holography Market Study:
- By product type, holographic displays are anticipated to dominate the market, capturing nearly 70% of the market share. Increasing demand for technologically enhanced devices is driving the growth of the holographic displays segment.
- By application, biomedical research shall find the maximum application, attributed to increased applications in advanced fields such as clinical diagnostics and drug development. The segment is anticipated to capture over 60% of the medical holography market.
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- By end-user, pharmaceutical and biotechnology companies shall capture over half of the total market, due to increasing research and development being undertaken to develop advanced technologies by important market players.
- By region, North America and Europe are anticipated to lead the medical holography market, expanding at CAGRs of 35.5% and 34.0% respectively. Increasing research and development to introduce technological advancements as well as applications in diagnosing chronic conditions are anticipated to drive market growth in both regions.
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Medical Holography: Market Segmentation
Fact.MR has studied the medical holography market with detailed segmentation on the basis of product, application, end-user and region.
|Holographic Display||Medical Imaging||Academic Centers||North America|
|Holography Microscope||Medical Education||Pharmaceutical & Biotechnology Companies||Europe|
|Holographic Prints||Biomedical Research||Hospitals||Asia Pacific|
|Holography Software||Latin America|
|Middle East & Africa (MEA)|
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Medical Holography Market: Competitive Landscape:
The medical holography market consists of the following market players: RealView Imaging Ltd., EchoPixel Inc., Integraf LLC, Koninklijke Philips N.V, Holoxica Ltd., HoloTech Switzerland AG, EON Reality, Inc., Lyncee Tec SA, Nanolive SA and zSpace, Inc. Out of these, the dominant market players are RealView Imaging Ltd., Koninklijke Philips N.V. and Holoxica Ltd. These players focus primarily on technological developments in order to launch new products in the market, thereby consolidating their foothold. The products offered by the dominant players include HOLOSCOPE-i Holographic Augmented Reality Medical System (RealView Imaging), the Philips interventional X-ray and ultrasound systems (Koninklijke Philips N.V) and the Interactive Holographic 3D display (Holoxica Ltd.).
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