Growing clinical applications of holography, rising adoption of holography products in biomedical research, improvement in medical education and training and development of holography as a promising technology in representing complex 3D structures are key factors contributing to high CAGR of Medical Holography during forecast period.
According to the current analysis of Reports and Data, the global Medical Holography market was valued at USD 346.8 million in 2019 and is expected to reach USD 2.45 billion by the year 2027, at a CAGR of 27.6%. Holography is a technique that provides a stereoscopic image of an object without the use of lenses. It is made up of a physical structure that diffracts light into an image. The demand for the market is majorly driven by the increased accessibility of technology along with increased investment in research and development activities, which further is expected to propel the market growth of medical holography. The adoption of the technology has rapidly increased in the medical and healthcare sector, owing to the benefits provided by this technique. These benefits include precise coordination in the diagnostic application, live image generation, detection with minimal invasion, and advanced training. Since more people prefer the technique associated with minimal invasion techniques, the demand for the device is expected to rise in the near future.
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Market Dynamics:
The dynamics of pharma healthcare industry has drastically changed, especially during the COVID-19 outbreak as the industry faced medication and hospital bed shortage, lack of skilled healthcare professionals and unavailability of sufficient funds. According to the latest report published by reports and data, the global Medical Holography market size is expected to reach. Revenue growth of the market is attributed to factors such as increasing prevalence of various diseases, improving healthcare and research infrastructure, high demand for vaccine and medicine and rapidly growing pharma and healthcare sector. Other factors such as availability of advanced treatment in many multispecialty health centers, and increasing awareness about early diagnosis and treatment. In addition, growing demand for precision medicine, increasing adoption of homecare settings and telemedicine, rising literacy rate around the globe and research and development investments for developing advanced drugs and devices are expected to fuel market going ahead.
The global Medical Holography market is extremely competitive and comprise various global and regional players. EchoPixel, Inc. (U.S.), Realview Imaging Ltd. (Israel), Mach7 Technologies Pte. Ltd. (Australia), Ovizio Imaging systems (Belgium), Holoxica Ltd. (U.K.), zSpace, Inc. (U.S.), Lyncee Tec (Switzerland), Eon Reality (U.S.), Zebra Imaging (U.S.), and NanoLive SA (Switzerland).and others are some of the key players operating in the global market. These market players are various strategies such as mergers and acquisitions, collaborations, joint ventures, collaborations, partnerships and research and development investments to strengthen their market position and expand their product base.
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For the purpose of this report, Reports and Data has segmented the global Medical Holography market on the basis of type, application and region:
Medical Holography Market segmentation by Types:
Product Type (Revenue, USD Million; 2017–2027)
- Holographic Display,
- Holographic Microscope,
- Holographic Print,
- Holographic Software
- Others
Application Type (Revenue, USD Million; 2017–2027)
- Medical Imaging
- Medical Education
- Biomedical Research
- Others
End Use (Revenue, USD Million; 2017–2027)
- Medical Schools
- Pharmaceutical Companies
- Hospitals
- Others
Regional Outlook of Medical Holography Market:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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