What Is The Current and Historic Market Size Analysis Of Medical Holography Market?
The medical holography market has seen considerable growth due to a variety of factors.
• The market size of medical holography has witnessed rapid expansion in the past few years. It is projected to rise from $2.30 billion in 2024 to $2.78 billion in 2025, at a compound annual growth rate (CAGR) of 21.1%.
The historical growth can be traced back to numerous factors such as the escalating use of holography products, increasing aged population, growing instances of chronic illnesses, greater uptake of holographic displays, and surging investment in research and development.
What are the Market Size and Expected Growth Rates for the Medical Holography Market?
The medical holography market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations show that the market size for medical holography is set to witness significant growth over the next few years, and is projected to reach $5.92 billion by 2029 with a compound annual growth rate (CAGR) of 20.8%.
This growth in the projected period can be ascribed to increasing incidents of chronic diseases, the escalating utilization of robotic surgeries, surge in investments towards research in medical holography, heightened awareness about clinical applications, and a growing elderly population. Key trends in the predicted period include technological progress, enhancements in technology in operating rooms, emergence of mixed reality (MR) applications, and a growing application of 3D visualizations and augmented reality.
What Are The Essential Drivers Behind The Growth Of The Medical Holography Market?
The increasing implementation of robotic surgeries is a key factor fueling the expansion of the medical holography market. Surgeon-controlled robotic systems are used in these surgeries which are known for their precision and less invasive nature. This not only improves the accuracy of the procedures but also shortens the recovery period. The surge in the use of robotic surgeries can be attributed to their accuracy, quick recovery, fewer complications, supported by advancing technology and integration with AI. Integrating medical holography with robotic surgeries can provide highly clear 3D images of the patient's body, resulting in increased precision and improved outcomes. To exemplify, Intuitive Surgical Inc, a US company producing robotic products, reported in January 2023 that there was an escalation of 18% from 1,594,000 in 2021 to 1,875,000 surgical procedures utilizing Vinci Surgical Systems (an advanced robotic surgical system) in 2022. Consequently, the rise in the application of robotic surgeries significantly contributes to the growth of the medical holography market.
How Is The Globa Medical Holography Market Divided Into Key Segments?
The medical holography market covered in this report is segmented –
1) By Type: Holographic Displays, Holographic Prints, Holographic Microscopy, Holographic Scanners
2) By Application: Medical Imaging, Opthalmology, Dentistry, Urology, Orthopedics, Medical Education, Biomedical Research, Other Applications
3) By End User: Hospitals And Clinics, Academic Medical Centers, Research Laboratories, Pharmaceutical And Biotechnology Companies
Subsegments:
1) By Holographic Displays: 3D Medical Imaging Displays, Surgical Visualization Displays, Diagnostic Imaging Displays
2) By Holographic Prints: Anatomical Model Prints, 3D Printed Medical Models, Patient-Specific Surgical Plans
3) By Holographic Microscopy: Cellular Structure Visualization, Live Tissue Imaging, Nano-Scale Imaging In Biomedicine
4) By Holographic Scanners: 3D Body Scanners For Diagnosis, Optical Coherence Tomography (OCT) Scanners, Holographic Ultrasound Scanners
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What Trends Are Reshaping The Medical Holography Market?
Leading companies in the medical holography market are concentrating their efforts on creating innovative solutions like immersive holographic visualization. This tool improves the precision and effectiveness of medical diagnoses and treatments by creating interactive, three-dimensional holograms that simulate intricate data or environments in a realistic and captivating way. In March 2024, Siemens Healthineers, a medical technology company from Germany, introduced their Cinematic Reality app. The app, which harnesses the power of Apple Silicon and Metal, allows users to explore interactive, immersive holograms of the human body based on genuine medical scans. This feature enhances anatomical visualization, proving useful in surgical planning and medical education. Going forward, this tool could aid surgeons in pre-operative planning, bridge communication gaps among specialists from various fields, and facilitate patients and non-radiologists in comprehending medical scans and conditions better.
Who Are the Key Players in the Medical Holography Market?
Major companies operating in the medical holography market are include:
• Medtronic PLC
• Koninklijke Philips N.V.
• Holoxica Limited
• Voxon Photonics
• 3D Systems Inc.
• Kino-mo Limited
• Ultraleap Limited
• Siemens Healthineers AG
• Lumus Ltd.
• Zebra Medical Vision Ltd.
• RealView Imaging
• Vuzix Corporation
• EchoPixel Inc.
• ImmersiveTouch Inc.
• Medivis Inc
• Hypervision Ltd
• Holo Industries LLC
• Nanolive SA
• Lyncée Tec SA
• Phase Holographic Imaging AB
What are the Regional Insights into the Medical Holography Market?
North America was the largest region in the medical holography market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical holography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
