Holography in medical science is mainly used to form 3D images of the human anatomy. Medical 3D holography is used to represent complex 3D structures beneficial for medical imaging, medical research, and medical training & education. The holography products covered in the study include holography displays, holography microscopes, holography prints, holography software, and holoscopes.
Medical Holography has emerged as one of the most promising tools for the medical industry. Holographic techniques have extended their applications in life sciences and medical research as well as medical education. The use of holographic imaging and projection has resulted in tremendous changes in the field of biomedical research and medical education and training.
The overall medical holography market is expected to grow from USD 163.4 million in 2015 to USD 953.9 million by 2021, at a CAGR of 33.7% from 2016 to 2021.
In addition to medical imaging and research, holographic display technology and digital holograms are extensively used in the education industry and hospital teaching. 3D visualization through holography products create an interesting and interactive learning atmosphere as holography helps retain more information compared to other learning techniques. With growing focus on structural biology in medical schools, various market players are focusing on developing holographic prints and holography software to be used for medical teaching and training applications.
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Medical Holography Market: Region-wise Outlook
Companies have developed a 3D kit for medical students and doctors that will help them practice surgeries and dissections without needing real bodies and organs. Echopixel, an emerging player in the Medical Holography market, launched True3D Viewer, a new generation of medical visualization software. This software converts anatomical data from patients into fully interactive, three-dimensional virtual reality images. With these innovations, medical holography is increasingly being used for healthcare research, hospital teaching, and medical education.
Global medical holography market is segmented into holography software, holography displays, holography microscopes, holography prints, and holoscopes. The holography microscopes are expected to register the highest CAGR during the forecast period. Growth in this product segment can be attributed to the various benefits of these products, including real-time cell imaging for life science and medicine applications.
The medical holography market in North America is expected to grow at the highest CAGR during the forecast period. Factors such as increasing demand for noninvasive and radiation-free imaging techniques coupled with the growing geriatric population and increasing number of imaging procedures across the region are driving the growth of regional market.
The development of holograms is an extremely cost-intensive process. It takes significant investments in R&D to develop new products that effectively cater to market needs. The high costs associated with research and technology development (which includes product development, system engineering, software development, clinical assessment, and concerned regulatory approvals for the initiation of product manufacturing) increases the cost of the final product. The most expensive component of a digital holographic microscope and digital hologram is the computer that is used to reconstruct images. Various end users, especially academic institutes, cannot afford these high-cost tools, which restricts market growth to some extent. However, with the availability of faster computers for image processing, inexpensive semiconductor lasers, and high-speed CMOS cameras, it would be possible to build holographic microscopes at lower costs in the near future.
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Medical Holography Market: Key Players
Key players in the medical holography market include EchoPixel, Inc. (US), RealView Imaging Ltd. (Israel), Mach7 Technologies Pte. Ltd. (Australia), Ovizio Imaging Systems (Belgium), Holoxica Ltd. (UK), zSpace, Inc. (US), Lyncée Tec (Switzerland), Eon Reality (US), Zebra Imaging (US), Nanolive SA (Switzerland), and Holografika Kft. (Hungary). Some of the key strategies adopted by the market players include new product launches; investments; mergers and acquisitions; and agreements, collaborations, and partnerships.