2018 - 2026
Need a report that reflects how COVID-19 has impacted this market and its growth?
The medical holography market is expected to register a CAGR of about 25.0% during the forecast period.
Amid COVID-19, a profound impact on the medical holography market was observed. Due to the high risk of transmission, many countries have adopted lockdown measures, suspended some trade activities, implemented travel restrictions, etc., leading to supply chain disruptions, which further led to the lack of stock in many pharmacies, including the new device installations in diagnostic centers and hospitals. However, there is increased interest in medical imaging integrated with holographic technologies in the diagnosis of the disease. For instance, in October 2020, scientists from the New York University developed a new method based on their test on holographic video microscopy, which uses laser beams to record holograms of their test beads. Using this holographic imaging technology, scientists can detect both viruses and antibodies in patients affected with COVID-19, which can aid in their medical diagnoses. Apart from the medical imaging, one of the programs from the Case Western Reserve University used holographic headsets to provide academic programs through holograms.
Holography is processed to record and display three-dimensional information without the use of the lenses, therefore it is of immense use and creates large possibilities of applications across the field of science, engineering, graphics as well as arts. The optical elements in holography perform the function of mirrors, lenses, gratings, and combinations of them. There is a range of medical diseases where the complexity of the diseases and organ dysfunctionality raises the need for proper visualization of the affected area, where the usage of holographic devices plays a significant role.
With the growth of high investment in healthcare facilities, technological advancements in surgical rooms, as well as, growing need for personalized medications, drives the growth of the holography market in the medical field. Due to the advancements in product technologies, the usage of holography is likely to increase in medical facilities over the forecast period. Many medical systems generate complex data using advanced imaging technology, such as X-ray, magnetic resonance imaging (MRI), and ultrasound scans. For instance, the X-ray holography method has the potential of examining the samples in aqueous solution with very high resolution, without the need for sample preparation that often results in structural alternations. An X-ray hologram with a resolution better than that of a detector can be obtained by Fourier transform holography with a zone plate.
However, factors such as limited expenditure by government facilities and healthcare facilities in hospitals of low and middle-income countries, hinder the establishment of holography usage in specialty centers of a hospital. Moreover, the shortage of skilled professionals is among the major restraint for holography usage in the medical domain.
Scope of the Report
Holography widens the possibilities of imaging the medical-related sites. It increases the information storage capacity and capability to meet the write-read-erase requirement in real-time. The medical holography market is segmented by product type (holographic displays, holography microscopes, holographic prints, holographic software, and others), application (imaging in medical indications, medical education, others), end-user (hospitals/clinics, biopharmaceutical companies, other end users), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD million) for the above segments.
|By Product Type|
|Imaging in Medical Indications|
|By End User|
|Other End Users|
|Rest of the World|
Key Market Trends
Holographic Display is Expected to Grow at Good Rate Over the Forecast Period
A holographic display is a display that uses coherent light created by the laser, to create a three-dimensional (3D) image in space. The advent of holographic technology is expected to have a colossal effect across medical and healthcare, owing to the profound potential of its applications.
The holographic display has created a potential impact in the medical imaging field and image-guided therapies, especially for the visualization and proper guidance during minimally invasive, non-surgical interventions, coronary interventions, catheter ablation therapy for arrhythmias, and catheter-based structural heart therapies, including heart valve replacements.
Moreover, the holographic display segment is expected to gain significant momentum in the overall market, owing to the presence of multiple players that are focusing on technological advancements and other different strategies, namely, acquisitions, partnerships, and joint ventures, through which only the top players are gaining the market share.
In May 2020, Looking Glass Factory upgraded its display technology with UE4 plugin, which can visualize designs using its holographic displays. The new feature is suitable to be used in a range of industries, like medical imaging.
In 2017, a UK-based company, Holoxica Limited, launched its 3D Holographic display for interactive visualization of medical imaging data, in conjunction with scientists at ACTPHAST (the Access Center for Photonics Innovations Solutions and Technology Support). The company’s 3D holographic displays can display footage of internal organs and structures generated from MRI, CT, PET, or ultrasound data sets. Hence, owing to these factors, the market for holographic displays may register significant growth over the forecast period.
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North America is Estimated to Have Largest Share in the Global Market
The North American medical holography market is driven by the high adoption of technologically advanced devices, product launches and innovation, and the growing prevalence of chronic diseases.
According to the American College of Cardiology, in the United States, in 2019, coronary events occurred in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events. Thus, due to the high prevalence of chronic diseases, there is a rise in the total number of imaging procedures and cardiac interventions, which is expected to drive the growth of the US market.
Moreover, key market players in the country are focusing on developing and launching new products, which may drive market growth. For instance, in September 2020, SentiAR received US FDA 510(k) clearance of its groundbreaking CommandEP system, the holographic guidance system to be used during an invasive cardiac procedure. In September 2019, EchoPixel introduced its 3D Holographic Intraoperative Software to provide naked-eye, touchless interactive 3D anatomical imaging to support structural heart procedures in the cath lab, operating room (OR), and hybrid OR.
Additionally, in April 2019, RealView Imaging launched its HOLOSCOPE-i, the world's first medical holographic system that provides realistic, spatially accurate 3D in-air holograms. It was used in a valve procedure in Toronto. Cardiologists and cardiac surgeons at the Toronto General Hospital’s Peter Munk Cardiac Centre (PMCC) performed the first live medical procedure using real-time holographic imaging developed by the company. Thus, the aforementioned factors are likely to drive the North American medical holography market during the forecast period.
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The major market players are focusing on technological advancements and improving the material quality used in sutures and better treatment of the injury site. Some of the major players in the market are RealView Imaging Ltd, zSpace, Inc, EON Reality Inc, Lyncee Tec, Phase Holographic Imaging PHI AB, among others. In September 2019, EchoPixel introduced Holographic intraoperative software to provide naked-eye, touchless interactive 3-D anatomical imaging to support structural heart procedures in the cath lab, operating room (OR) and hybrid OR.
- In December 2020, Looking Glass Factory launched a personal holographic display called the Portrait for several applications including medical imaging.
- In March 2020, Exhibitry, the Houston-based tech company announced the launch of two new products in their line of holographic products for the display industry namely ProductMapper and HoloTable.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Usage of Holography Products in Medical Facilities
4.2.2 Technological Advancement and R&D Investments by Biopharmaceutical Companies
4.3 Market Restraints
4.3.1 High Initial Investments in Healthcare Facilities to Include Holographic Applications
4.3.2 Shortage of Skilled Professionals
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Holographic Displays
5.1.2 Holography Microscopes
5.1.3 Holographic Prints
5.1.4 Holographic Software
5.1.5 Other Products
5.2 By Application
5.2.1 Imaging in Medical Indications
5.2.2 Medical Education
5.3 By End User
5.3.2 Biopharmaceutical Companies
5.3.3 Other End Users
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Holografika Kft
6.1.3 EON Reality Inc
6.1.4 Hexagon AB
6.1.6 Lyncee Tec
6.1.7 Nanolive SA
6.1.9 Phase Holographic Imaging PHI AB
6.1.10 RealView Imaging Ltd
6.1.11 Zebra Imaging Inc
6.1.12 zSpace, Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Medical Holography Market market is studied from 2018 - 2026.
What is the growth rate of Global Medical Holography Market?
The Global Medical Holography Market is growing at a CAGR of 25% over the next 5 years.
Which region has highest growth rate in Global Medical Holography Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Medical Holography Market?
North America holds highest share in 2020.
Who are the key players in Global Medical Holography Market?
- EON Reality Inc
- RealView Imaging Ltd
- zSpace, Inc
- Lyncee Tec
- Phase Holographic Imaging PHI AB
Are the major companies operating in Global Medical Holography Market.