Application in Biomedical Research Clocking Over 3/5th of Medical Holography Sales
A recent study conducted by Fact.MR offers an unbiased assessment of key factors responsible for the medical holography market growth. It also reveals the most lucrative segments in the market, on the basis of product, application, and end user
Fact.MR – A Market Research and Competitive Intelligence Provider: As per Fact.MR, the global medical holography market is anticipated to reach US$ 3.5 billion by the end of 2026 in comparison to US$ 447.8 million valuation in 2019. In response to the increasing application of holography across diagnosis and research in the healthcare sector, the market is projected to expand at a colossal CAGR of 34% between 2020 and 2026.
Advanced medical equipment such as holographic displays and holographic microscopes are extensively adopted for diverse diagnostics applications. These devices enable effective assessment of various chronic ailments such as cancer, cardiovascular diseases, cystic fibrosis, and arthritis, and others.
In addition to this, increasing funding by government and private organizations for the advancement of medical infrastructure across countries such as the U.S., China, and India is expected to create lucrative opportunities for the growth of the medical holography market.
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As per Fact.MR, biomedical research is estimated to emerge as the most attractive application segment over the assessment period. Recent advancements in clinical diagnostics and drug discovery are propelling the demand for holographic devices across research institutions and research laboratories. Driven by this, the segment is projected to account for nearly 3/5th of the total sales in the market through 2026.
“Surging demand for technologically advanced 3D imaging techniques for studying the effects of novel drugs on human body and detection of chronic conditions is expected to enable growth in market,” says a Fact.MR analyst.
Key Takeaways from the Medical Holography Market Study
Increasing medical imaging application due to the high prevalence of chronic diseases in the U.S. is projected to drive the North America market at CAGR of 35.5% through 2026.
Sales of holographic devices are forecast to rise at a CAGR of 34% in the Europe market between 2020 and 2026, driven by increasing biomedical research activities in the U.K. and Germany.
China and India are anticipated to cumulatively account for the largest share in the Asia Pacific market, on the back of increasing government investment for expansion of advance medical infrastructure.
Based on product type, the holographic displays are projected to emerge as the most remunerative segment, accounting for nearly 70% of the global sales by 2026.
In terms of end user, pharmaceutical and biotechnology companies are estimated to dominate the market, accounting for more than half of the total revenue share by the end of forecast period.
Key Drivers
Clinical applications of medical holography in cardiac electrophysiology, orthopedics, radiological and surgical procedures, and dentistry are projected to drive the market growth.
Key Restraints
High cost of computational for processing holograms is a factor hampering the growth of the medical holography market.
Less effective holographic projection under sunlight is restraining the sales of medical holographic devices.
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Competitive Landscape
As per Fact.MR, top companies in the global market are RealView Imaging Ltd., Koninklijke Philips N.V. and Holoxica Ltd. Leading player are extensively investing in R&D activities for the development of innovative products to expand their product portfolio and strengthen their footprint across the globe. For instance,
In May 2019, Aestheia Imaging, an American company, announced launching an interactive hologram display named, XTHEIA. It is in-built with a virtual consult assistant for medical office waiting halls and room.
Some of the key players in the market profiled by Fact.MR are:
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
Fact.MR, in its new report, offers an unbiased analysis of the global medical holography market, analyzing forecast statistics through 2020 and beyond. The survey reveals growth projections on in medical holography market with detailed segmentation:
By Product
Holographic Display
Holography Microscope
Holographic Prints
Holography Software
By Application
Medical Imaging
Medical Education
Biomedical Research
By End User
Academic Centers
Pharmaceutical & Biotechnology companies
Hospitals
Key Questions Covered in the Medical Holography Market Report
The market survey highlights projected sales growth of the medical holography market in the next five years
The report offers insight into medical holography demand outlook for 2020-2026
Medical holography market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Medical holography market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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Source: Fact.MR