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The use of holography to address the rising cases of heart surgeries has readily supplanted the growth of the Medical Holography Market
HYDERABAD, TELANGANA, INDIA, November 24, 2022 /einpresswire.com / -- The medical holography market size is estimated to reach $3.8 billion by 2027. Furthermore, it is poised to grow at a CAGR of 23.8% over the forecast period of 2022-2027. Holography in the medical field often provides new insights to the doctor and physicians before going for medical intervention. Surgical planning is one of the primary applications for medical holography as it allows the physicians to understand the tissues and organs and it can allow the doctors to look for cavities and deformities in the internal organs. The holographic display opens the capability to understand the images as it is a non-contact high medical imaging and provides measurement. Some of the common application of medical holography in the medical field is to view the human skeleton, to identify abnormal growth or to detect any uncertain cancerous abnormalities, map the inside and outsides of the patient's body, and lastly, in medical education it allows the institutions to teach the design and development of artificial bones, joints, and prosthetic limbs.
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Key Takeaways:
Geographically, North America's medical holography market held a dominant market share. It is owing to the presence of robust medical technology companies and the inclination of government and private players to cater to the rising demand for patients' non-invasive surgical requirements. However, Asia-Pacific is set to offer lucrative opportunities to the marketers owing to the rising inclination of various bodies to have a robust medical infrastructure present that can tackle the growing cases of chronic diseases.
Product innovation and the rising need for non-invasive surgical requirements have been identified as key drivers. However, owing to the shortage of skilled professionals and low market penetration in low- and middle-income countries the market will face a ready challenge.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the medical holography market report.
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Segmental Analysis:
Medical Holography Market Segmentation Analysis- By Product Type: The medical holography market based on product type can be further segmented into Holographic Display, Holography Microscopes, Holographic Prints, Holographic Software. Holographic Displays held a dominant market share in the year 2021. It is owing to the advances seen in the product category across the globe. Moreover, holographic displays can allow better diagnosis and post-operative treatments. Additionally, a lot of investments were observed. For example, a UK Based deep-tech start-up known as VIVIDQ raised around $15 million to convert normal displays into holographic displays. However, the holographic microscope segment is estimated to be the fastest-growing, with a CAGR of 24.6% over the forecast period of 2022-2027.
Medical Holography Market Segmentation Analysis- By Application: The medical holography market based on the application can be further segmented into Medical Education, Medical Imaging, Biomedical Research, and Others. Medical Imaging held a dominant market share in the year 2021. Medical imaging has been of pro-active use for a medical practitioner in a variety of fields. Medical imaging can allow doctors to adapt to various practices before the surgical intervention. Additionally, hormonal imbalances and other abnormal growth have been countered with the use of medical imaging. Additionally, it allows the practitioner to eliminate the need for a physical testing procedure. Moreover, Medical Imaging is estimated to be the fastest-growing, with a CAGR of 24.7% over the forecast period of 2022-2027. Medical imaging can help in finding the tissue abnormalities, which can help in understanding the types of cancer and their progression rates.
Medical Holography Market Segmentation Analysis- By Geography: The Medical Holography Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America's medical holography market held a dominant share of 38% as compared to other regions in the year 2021. It is owing to the region's preference to divide and provide heavy inclination for better medical infrastructure. Additionally, countries like the US allocated around 17% of their GDP for healthcare expenditure which has allowed for their position. Additionally, medical imaging has helped in diagnosing various cancer-related cases in Canada, which has a prevalence of around 250,000 new cases each year.
Competitive landscape:
The top 5 players in the Medical Holography Industry are:
1. Holografika Kft
2. EchoPixel Inc
3. Ovizio Imaging systems
4. Holoxica Ltd
5. Realview Imaging Ltd
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Related Reports:
A. Medical Imaging Software Market
B. Diagnostic Imaging Services Market
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