Medical Holography Market Dynamics, Growth Prospect and Consumption Analysis till 2025

 20th January 2021 – The global Medical Holography Market size is projected to reach USD 4.04 billion by 2025. The market is anticipated to witness lucrative growth with a CAGR of 31.0% throughout the forecast period owing to increasing use of holography based products in biomedical research. Increasing activities and funding pertaining to R&D by key biotechnological and pharmaceutical companies is predicted to widen the scope for biomedical research activities. 

Additionally, wide array of clinical applications of holography such as in dentistry, surgical & radiological procedures, cardiac electrophysiology, and orthopedics has triggered growth of the industry. Advent of technologically advanced products, such as, miniaturized light emitting diodes and pico-like projectors, which provides high clarity holographic images are predicted to accelerate demand during the forecast period. Emerging holographic interaction and visualization technologies enabling minimally invasive procedures has led to an enhanced safety profile for patients. The abovementioned factors leading to better outcomes for patients are expected to drive physicians and patient’s preference for these products.

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Holographic displays held the highest share of the product segment in 2015. The dominancy can be as a consequence of high penetration of these displays as they are an important component for viewing holograms. Moreover, the increasing modifications and advancements in holographic displays are believed to drive the demand by increasing adoption rate by physicians, researchers, and educationists. The advancements such as incorporation of piston based displays, laser and electro-holographic is expected to be one of the high impact rendering drivers. There are several benefits associated with the above-mentioned technological advancements for diagnostic procedures, which is providing attractive growth opportunities. The benefits associated with these products include precise coordination in interventional and diagnostic applications, real-time visualization of organs and improved training.

Owing to the benefits associated with holographic technology such as live imaging which enhanced visibility of organ is expected to boost the medical education segment and provide lucrative growth opportunities. Moreover, 3D anatomical models help in providing information and instructions in an effective manner leading to high demand and attractive growth opportunities. In addition, this technology enables generation of full human anatomy holograms, which facilitates in revealing important disease information which is not possible with any other visualization techniques available. The largest share was held by research laboratories in 2015 owing to high adoption rate of these products for research purposes that facilitates real-time analysis of live cells & phase contrast based imaging. Moreover, the minimally invasive nature of holographic detection thus precluding cell deformation occurring due to examination procedures and consequently rendering it as the preferred choice for researchers.

A substantial share of more than 38.0% was held by North America in 2015. This can be attributed to presence of majority of key players, undertaking various research activities in the region. High prevalence of disease in the region serves as an important growth factor leading to high clinical urgency to use medical holographs, which are becoming increasingly accessible that facilitates sophisticated imaging. Moreover, high investments in R&D are anticipated to increase holography products in research. The above-mentioned factors are expected to drive the regional market. Asia Pacific is anticipated to witness an exponential growth during the forecast period. The growth can be attributed to rise in disposable incomes and healthcare expenditure. In addition, increasing awareness level of physicians pertaining to benefits associated with these products such as enhanced patient care & diagnosis and improved performance of physicians. Moreover, increasing focus on healthcare infrastructure quality is expected to further boost the adoption of medical holography products. For example, scientist in Japan developed touchable holograms in December 2015 which can be adopted in wide array of applications leading to enhanced biological procedure & process demonstration in the future.

Prominent players include zSpace Inc., Lyncee Tec, Nanolive SA, Phase Holographic Imaging AB, Zebra Imaging, and RealView Imaging Ltd. These companies are undertaking mergers & acquisitions, distribution enhancement strategies, new product launch and development activities, which are contributing to the significant growth of the sector. For example, Rattan, a software consulting company was acquired by Zebra Imaging to integrate the technologically advanced technology such as 3D light-field in their holographic display product portfolio.

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