(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 22, 2021, 06:12 /Comserve / -- Medical Holography Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
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.
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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.
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.
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.
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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.
Competitive Landscape
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.
1 INTRODUCTION
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
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