The global medical holography market size is expected to reach USD 4.04 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 31.0% during the forecast period. The market is predominantly driven by increasing adoption of this technique in biomedical research and academic centers. Rising awareness regarding benefits of the technique is one of the key growth stimulators of the market.
Benefits associated with holographic techniques are precise coordination in interventional and diagnostic applications, generation of live images, minimal invasion, and enhanced training. Soaring demand for incorporation of minimally invasive techniques is also projected to boost the growth of the global market. As compared to invasive procedures, these procedures result in lesser trauma and quicker recovery. Another advantage of this procedure is that there is less amount of blood loss as compared to invasive surgery.
Medical holography is anticipated to revolutionize education and training for medical students over the coming years. Traditional teaching methods and textbooks increase the cognitive load on students, which can be reduced by conversion of 2 or 2.5 D representation into a 3D image. According to a study, it has been observed that medical holograms improve the understanding of anatomy compared to traditional methods. Moreover, holographic projections are increasingly being used in various other fields such as aviation, manufacturing, gas, and oil which is estimated to augur well for the holography market.
With increasing burden of chronic diseases and clinical urgency to incorporate technologically advanced products for early and non-invasive diagnosis, medical holography is likely to gain prominence in a wide array of applications. Introduction of new and sophisticated products is poised to shape the future of the market.
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Medical Holography Market Report Highlights
• The holographic displays segment accounted for 65.8% of the overall revenue in 2016
• Semi-transparent displays held 38.8% of the holographic display segment as they can be used to create 3D graphics with enhanced depths and sufficient resolution to provide realistic experience
• The microscope segment is expected to witness a remarkable CAGR of 32.3% during the forecast period due to technological advancements in the field of microscopy
• The medical education segment is poised to post a CAGR of 31.6% during the forecast period
• Research laboratories was the dominant end-use segment, commanding a share of 32.97% in 2016. The substantial share can be attributed to increasing adoption of holography products in research, which primarily involves phase contrast imaging and dynamic live cell imaging
• North America led the market with over 37.0% share in 2016 owing to extensive research activities undertaken by a majority of prominent market players
• Asia Pacific is anticipated to exhibit a CAGR of over 32.5% during the forecast period.
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Medical Holography Market Segmentation
Grand View Research has segmented the global medical holography market on the basis of product, application, end use, and region:
Medical Holography Product Outlook (Revenue, USD Million, 2014 – 2025)
• Holographic Display
Medical Holography Application Outlook (Revenue, USD Million, 2014 – 2025)
• Medical Imaging
• Medical Education
• Biomedical Research
Medical Holography End Use Outlook (Revenue, USD Million, 2014 – 2025)
• Academic Centers
• Pharmaceutical & Biotechnology Companies
• Hospitals & Clinics
• Research Laboratories
Medical Holography Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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