Key Market Overview:
Medical Holography Market size was valued at USD 1,009.79 Million in 2022, registering a CAGR of 13.5% during the forecast period (2023-2030), and the market is projected to be worth USD 2,696.93 Million by 2030.
Medical holography is primarily utilized to represent complex 3D structures which are beneficial for medical research, medical imaging, and medical training. Medical holography technology is known for performance enhancement related to high-resolution imaging of body components which helps in assisting an accurate medical procedure. The increase in clinical applications of holography is the major factor boosting this market growth.
In addition, factors including a rise in investment in digital holography and an increase in awareness of medical holography globally are the major opportunities for the medical holography market during the forecast period. For instance, in March 2023, RealView Imaging, headquartered in Israel that is offering a digital holography product range launched 3D holographic imaging for the medical industry. Hence, the innovations in digital holography are creating a potential opportunity for market growth during the forecast period.
Medical Holography Market Report Coverage:
|Market Size in 2030 (USD Million)
|Holographic Display, Holographic Prints, Holography Microscopes, Holography Software and Others
|Medical Imaging, Biomedical Research, Medical Education and Others
|By End User
|Academic Medical Centers, Hospitals and Clinics, Pharmaceuticals and Biotechnology Companies, Research Laboratories and Others
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
|RealView Imaging Ltd, Ovizio Imaging Systems, zSpace Inc, EonReality, Nanolive SA, Holografika Kft, IMRIS, Integraf LLC, Fonar Corporation, Promaxo Inc.
Medical holography is widely incorporated into biomedical research, education, and life science. The rising applications of medical holography products for education and research purposes are prompting the major players to develop technologically advanced product ranges targeted at biomedical research, education, and life science. For instance, in March 2023, GigXR, a manufacturer of holographic healthcare training introduced CPR training with holographic patients. The product has applications in research, education, and life science. Thus, the increase in the adoption of holography products in research and medical education is driving the medical holography market growth at the global level.
The high cost of holography imaging is a major bottleneck for market growth. The incorporation of expensive technology and software leads to an increase in the operating cost of holography imaging products. According to a recent report by the American Chemical Society, the holographic process is quite expensive and time-consuming, whereas self-assembled photonic structures provide greater efficiency and lower cost involved in the process. Hence, the high cost of medical holography due to the above factors is restraining the market growth.
The advancement in technological innovations, rise in government funding or investment, and others are the prominent factors anticipated to boost the revenue growth of the market in the upcoming years. For instance, in August 2021, the United States Food and Drug Administration (FDA) approved three-dimensional holograms technology for application in the medical industry. Henceforth, the increase in research & development activities and the rise in investments in medical holography will create a lucrative opportunity for market growth during the projected forecast period.
Medical Holography Market Segmentation:
The product segment is classified into holographic display, holographic prints, holography microscopes, holography software, and others. Out of these product segments, the holographic display segment held the largest market share out of all the product segments in 2022. The prime benefits associated with holographic display include easily combined with other technologies, the creation of multiple images on a single plate including 3D images, and others. As a result, the holographic display is an ideal product for various end uses, including academic medical centers, hospitals and clinics, pharmaceuticals and biotechnology companies, research laboratories, and others. For instance, leading players such as Realview Imaging, an Israel-based manufacturer of medical holography offers medical holographic displays such as interactive 3D holography display and others. The company utilizes a continuous product innovation strategy in order to upgrade the range of medical holographic displays. Hence, the increasing innovations for medical holographic displays are accelerating segment growth.
However, the microscope segment is forecasted to grow the fastest during this forecast period. The incorporation of digital microscopy methods in clinical imaging and microbiology for high-resolution visualization of specifically transparent cells is driving segment growth.
The application segment is divided into medical imaging, biomedical research, medical education, and others. In 2022, the medical education segment was dominant and expected to be the fastest growing segment during the forecast period. Medical holography is utilized in medical education to enhance the quality of medical education and research. Moreover, medical holography is deployed in education and research to reconstruct the image of tissue samples to perform tissue surgeries. Thus, due to the above benefits, the adoption of medical holography is increasing in education and research institutes. For illustration, in April 2022, NUS Yong Loo Lin School of Medicine, a medical education institute in Singapore adopted three-dimensional holographic technology from Microsoft. The three-dimensional holographic technology is utilized by medical and nursing students to help study anatomical structures and in learning several medical procedures. Hence, the increasing deployment of medical holography in education and research institutes is fostering market growth.
The end user segment is categorized into academic medical centers, hospitals and clinics, pharmaceuticals and biotechnology companies, research laboratories and others. Research laboratories segment dominated by end user type in 2022. The research laboratories have been incorporating holographic techniques for viewing and studying the lungs of pandemic-affected patients to study the root cause of the concern. The adoption of holographic techniques is increasing in different research laboratories globally. For instance, in 2022, research laboratories showcased huge growth due to the pandemic and there was extensive research made to determine effective medication for those suffering from Covid. Likewise, in March 2023, researchers at Max Planck Institute of Medical Research and researchers of Heidelberg investigated and explored touchless 3D printing with the help of acoustic holograms, which opened new possibilities in the field of biomedicine. Therefore, the rise in the utilization of medical holography in research laboratories is driving market growth.
Research laboratories is expected to grow at the fastest CAGR during the forecast period. Introduction of phase contrast imaging and others in research activities is the major factor for driving the segment growth.
By region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2022, North America accounted for the highest market share in the medical holography market. The advanced R&D facilities and high funding for holographic techniques contribute to the growth of this market in this region. For instance, in 2023, ARHT, a pioneer in live hologram technology, announced its first CAPSULE subscription with a leading global retailer, where the agreement includes a hologram capture kit and CAPSULE hologram displays. Hence, the rising acceptance of holography techniques is supplementing the growth of the market in North America.
Nevertheless, Asia Pacific is expected to be the fastest-growing region over the forecast period due to increasing healthcare expenditure, increase in disposable income, and others.
Medical Holography Market Competitive Landscape:
The medical holography market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
• RealView Imaging ltd
• Ovizio Imaging Systems
• zSpace Inc
• Nanolive SA
• Holografika Kft
• Integraf LLC
• Fonar Corporation
• Promaxo Inc
• In April 2023, WiMi developed a very innovative endoscopy system designed specifically for CPLD which leverages holographic imaging. This marks product innovation where the CPLD endoscopy system incorporates microelectromechanical system within it.