Pune, March 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, The global medical holography market is expected to grow from USD 969.48 Million in 2020 to USD 9365.55 Million by 2028, at a CAGR of 27.99% during the forecast period 2021-2028.
Increase in geriatric population is one of the factors fuelling the Medical Holography market.
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With the advancement in technology, a new technology has come up with the promising future its called holoscope. It takes medical images of the patient’s heart and then display it into 3d holographic image of the heart. It helps the surgeon to really look at the heart three-dimensional, this gives them a clear picture of the heart, that can really show the problematic region than imagining it. This facility gives the surgeon many excellent options like exploring, rotating and slicing of the 3d image of the heart, to understand the problem better and also to demonstrate the problem better for consultation and solutions. This is where Medical holography could be a great help in understanding the problem better and for minimum invasive surgeries. These factors would fuel the market in the forecasting period. This holography could also be used in military mapping etc. The rise in the geriatric population and widespread chronic diseases are expected to drive the market. The increase in geriatric population in the developing counties would increase the number of cases of chronic disease and the cardiovascular related disease. This factor will also drive this medical holography market. However, lack of awareness and expensive nature are the restraints for the market. However developing technological innovations, such as the inclusion of advanced pico-like projectors and miniaturized light-emitting diodes to deliver high clarity holographic images, are estimated to trigger the demand for medical holography. The demand for the Holography would increase drastically in the forecasting period in the medical field. This gives the doctor and surgeons better wider angle to look at the disease and come out with better result with minimal invasive procedures.
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The high computational costs related to processing holograms and less effective projection under sunlight can restrain the growth of medical holography market. Also, the lack of awareness about the latest technologies is going to restrain the market. However developing technological innovations, such as the inclusion of advanced pico-like projectors and miniaturized light-emitting diodes to deliver high clarity holographic images, are estimated to trigger the demand for medical holography, which would open paths for the growth of the market.
Key players operating in the global Medical Holography market include EchoPixel, Inc., Realview Imaging Ltd., Mach7 Technologies Pte. Ltd., Ovizio Imaging systems, Holoxica Ltd., zSpace, Inc., Lyncee Tec, Eon Reality, HolografikaKft and Zebra Imaging among others.
• The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global medical holography industry. For instance, in May 2016, Holoxica Limited came up with the world’s first 3-D digital hologram image of the human brain fiber pathways. This new brain path imaging helped neurosurgeons and physicians to study and cure a wide range of neurological conditions, such as motor neuron disease (MND), stroke, Alzheimer etc.
• For instance, in April 2016, 3D Medical & Mach7 Technologies had a merger. The merger is working on advanced medical image management solutions for the customers all across the globe
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Holographic display segment is dominating the market with the highest market value of USD 574.22 Million in 2020
Product segment include holographic display, holographic microscope, holographic print, holographic software and others. The Holographic Display segment held the highest market value of USD 574.22 Million in 2020. This because it provides the user with a better experience and a clear understanding by creating accurate 3D holograms within the hands reach.
Biomedical research segment is dominating the market with the highest market value of USD 408.03 Million in 2020
The application segment includes medical imaging, medical education and biomedical research. Biomedical research segment accounted for the largest market value of USD 408.03 million in 2020. This due to the growing geriatric population and measurement of clinically vital components like haemoglobin content and mean cell volume of RBCs.
Research laboratories segment is dominating the market with the highest market value of USD 311.49 Million in 2020
The end-user segment includes academic centers, pharmaceutical & biotechnology companies, hospitals & clinics and research laboratories. Research laboratories segment is accounted for the highest market value of USD 311.49 Million in 2020. This is due to the increase in investment in research and development using Holographic technologies due to high global demand.
Regional Segment Analysis of the Medical Holography Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
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The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America is accounted for the highest market value of USD 242.04 million in 2020. This is due to the better healthcare infrastructure in the region, especially in the US and also because of government initiatives in the healthcare sector. Asia-Pacific is expected to witness the fastest growth. Developing healthcare systems and growing numbers of government initiatives in developing economies like China, India, Japan, and Malaysia are expected to be the fastest-growing markets in the region.
About the report:
The global Medical Holography market is analysed on the basis of value (USD Million).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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