Medical Holography Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Medical Holography Market is segmented By Product Type(Holographic Displays, Holographic Microscopes, Holographic Prints, Holographic Software, and others), By Application( Medical Imaging, Medical Education, Biomedical Research), By End User(Hospitals & Clinics, Research Institutes), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Medical Holography Market Overview

The Global Medical Holography Market Expected to reach a CAGR of 33% during the forecast period (2024-2031).  

Holography is a technique of creating an exact visual representation of an object in 3 dimensions using light as a source to record it. Medical holography provides a substantial performance improvement over conventional methods of understanding human anatomy as 2D images from CT scanners, MRI scanners, radiography, and other imaging devices do not allow enough accuracy and precision in diagnosis and description of the patient’s anatomy.

Medical Holography Market Scope

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Medical Holography Market Dynamics

The global medical holography market growth is driven by the rising number of R&D activities conducted by prominent pharmaceutical and biotechnological companies that are projected to widen the base of biomedical research initiatives. The increasing adoption of medical holographic techniques and products in biomedical research activities is one of the key trends stimulating market growth.

Technological advancements and R&D investments by biopharmaceutical companies drive the market growth

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.

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 creates an interesting and interactive learning atmosphere as holography helps retain more information compared to other learning techniques. With the 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. 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. Each pixel, 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.

The growing applications of medical holographic techniques, coupled with their advantages, have encouraged their adoption in research labs, schools and universities, and hospitals across the globe.

Limited expenditure by government facilities and healthcare facilities will hamper the growth of the market

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 hospitals. Moreover, the shortage of skilled professionals is among the major restraints for holography usage in the medical domain.

COVID-19 Impact Analysis on Medical Holography Market

A profound impact of COVID-19 was observed on the market. Due to the high risk of transmission, many countries have adopted lockdown measures, suspended some trade activities, implemented travel restrictions, leading to supply chain disruptions, which led to the lack of stock in many pharmacies, including new device installations in diagnostic centers and hospitals. However, there is increased interest in medical imaging integrated with holographic technologies in the diagnosis of diseases. For instance, in October 2020, scientists from 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 by COVID-19, which can aid in their medical diagnoses. These factors will hamper the growth of the market during a pandemic.

Medical Holography Market Segmentation Analysis

The holographic displays segment is expected to grow at the fastest CAGR during the forecast period (2024-2031)        

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 had a potential impact on 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 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 the 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.​ Hence, owing to these factors, the market for holographic displays may register significant growth over the forecast period.

Medical Holography Market Geographical Shares

North America region holds the largest market share of the global medical holography market

North America has the largest market share in the forecast period. The market is driven by the high adoption of technologically advanced devices, product launches and innovations, 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 for 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, and 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 will drive the North American medical holography market during the forecast period.

Medical Holography Market Companies and Competitive Landscape

The medical holography market is a moderately competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Holografika Kft, EchoPixel, EON Reality Inc., Hexagon AB, Holoxica, Lyncee Tec, Nanolive SA, Phase Holographic Imaging PHI AB, RealView Imaging Ltd, zSpace Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the medical holography market globally. For instance, in December 2020, Looking Glass Factory launched a personal holographic display called the Portrait for several applications, including medical imaging.

RealView Imaging Ltd

Overview:

Real View manufacture 3D holographic images that "floats in the air" in front of the doctor's eyes, with no special eyeglasses or screen, and enables them to see the anatomy of the organ involved.     

Product Portfolio:

HOROSCOP-i:  Real View’s first medical holography product, is designed to support all the stages of interventional clinical procedures that employ 3D imaging. HOROSCOP-i has been ergonomically designed for use in all clinical environments such as interventional suites, hybrid operating rooms, and diagnostic clinics. The system provides accessible and interactive real-time 3D holography at a hand's reach for direct interaction with and within the image, enhancing the ability to plan and perform interventions.

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