Medical Holography Market Size is Projected To be Around $4 Billion By 2025
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A research study titled, “Medical Holography Market by Product, Application, and End User - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the medical holography market is projected to be around $4 billion by 2025.
Conceptualization of 3-dimensional structures in the human brain is a complex task which requires extensive utilization of the working memory in the brain. In human anatomy, various complex 3D structures have to be studied and analyzed by medical researchers as well as practicing physicians, surgeons, and students of medical science. Learning anatomy involves memorizing numerous anatomical structures such as muscles, blood vessels, bones, and nerves. 3D representation of medical content can largely aid the study of human anatomy. Holography is a unique and highly advanced technology which enables 3D representation of such complex structures. Holography has applications in various fields such as dentistry, ophthalmology, audiology, and experimental orthopedics.
The global medical holography market is majorly driven by factors such as recent technological advancements in holography products, rapid adoption of holography technology by medical fraternity for applications such as medical education, dentistry, orthopedics, and biomedical research. Increasing applications of holography in diagnostic imaging to visualize complex 3D structures in human body are also expected to significantly contribute to the growth of global medical holography market throughout the forecast period. However, high cost of holography products is a major restraint for large scale adoption of holography technology.
In 2016, holographic displays segment dominated the medical holography market due as holographic displays are widely being used for medical education and biomedical research activities. As these displays facilitate effective viewing and analysis of complex 3d structures in human anatomy, medical education is largely benefiting from this technology.
Biomedical research segment held the largest share of medical holography market with respect to the applications of the technology. Imaging of intricate cell structures can be easily accomplished by using holography technology which has led to large scale adoption of holography devices by biomedical researchers.
In terms of End Users for medical holography, research laboratories segment held a dominant share of the medical holography market in 2016 owing to extensive adoption of holography products for various research activities involving phase contrast imaging and cellular imaging.
The major players operating in the medical holography market are emphasizing on new product development with extensive research and development undertakings in order to introduce next-generation holography products intended for various medical applications. Some of the key players in the market are, Lyncée Tec SA, Zebra Imaging, Nanolive SA, zSpace, Inc., Holoxica Limited, EchoPixel, Inc., Phase Holographic Imaging PHI AB, RealView Imaging Ltd., HolografikaKft and Ovizio Imaging Systems NV/SA.
U.S. dominated the North American medical holography market in 2016 which can be attributed to extensive R&D activities for development of new-age holography products to be used for various applications in medicine. Emerging countries such as China and India in the Asia-Pacific region will also contribute to the increasing adoption of holography products in coming years due to the increasing awareness related to the benefits of holography technology along with rising disposable income.
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Key Findings of the Research Study:
- In 2016, holographic displays segment held a majority share of the medical holography market due to the extensive adoption of holographic display products in fields such as medical education and biological research applications. Moreover, ongoing technological advancements in these products will further contribute to the acceptance of these devices in coming years.
- Biomedical research segment dominated the medical holography market in terms of applications of holography technology owing to large scale adoption for holographic interferometric applications in biomedical research. Holography technology enables digital 3D representation of cells, DNA and entire human organs that can be printed holographically for advanced analysis.
- Medical imaging applications will experience favorable growth during the forecast period owing to the increasing awareness regarding their benefits among the medical community leading to adoption of holography products for clinical applications.
- North America held over one-third share of the global medical holography market in 2016 due to significant investment in research and development of holography technology along with the presence of prominent market players in the region.
- Asia-Pacific medical holography market is expected to exhibit lucrative growth with double-digit CAGR during the forecast period owing to increasing focus on advancement of healthcare infrastructure supported by increasing healthcare expenditure.