The medical holography market is set to record impressive growth, expanding at a whopping CAGR of 34 percent during 2020–2026, estimates Fact.MR. The high adoption of holographic devices for diagnosing chronic conditions like cardiovascular diseases and cancer, rising financial impetus from government and private organizations, and a surging geriatric population pool having chronic conditions are attributed as important growth levers.
Researchers have also advocated that medical holography procedures can be effectively exploited to diagnose COVID-19 infections among asymptomatic patients. These tests are expected to provide greater accuracy over the standard RT-PCR tests. Further research is still underway in order to ascertain the viability of such tests.
By product type, holographic displays are anticipated to dominate the market, capturing nearly 70 percent of the market share. Increasing demand for technologically enhanced devices is driving the growth of the holographic display segment.
Biomedical research shall find the maximum application, attributed to increased applications in advanced fields like clinical diagnostics and drug development, by application. The segment is anticipated to capture over 60 percent of the medical holography market.
By end-user, pharmaceutical and biotechnology companies shall capture over half of the total market, due to the increasing research and development being undertaken to develop advanced technologies by important market players.
North America and Europe are anticipated to lead the medical holography market, expanding at CAGRs of 35.5 percent and 34 percent respectively. Increasing research and development to introduce technological advancements as well as applications in diagnosing chronic conditions are anticipated to drive the market growth in both regions.
The ongoing novel coronavirus pandemic is projected to generate growth opportunities for the medical holography market. Healthcare practitioners are in the process of investigating a bead-based holography technique that detects biological particles by imaging their binding to microscopic beads, which could lead to a faster and cheaper test for current and past infections.
The idea is to detect the virus, using tiny plastic beads coated with antibody proteins that bind only to characteristic proteins of SARS-CoV-2. These would then be mixed into a fluid sample taken from a patient and would bind them to the virus particles in the fluid. This binding would cause the diameters of the beads to increase a few nanometers, a change that the researchers can detect. Such an advanced technique is anticipated to improve accuracies and help in proper diagnosis of the disease.
Some of the players engaged in the global medical holography market include Real View Imaging (Israel), Echo Pixel (CA), Integraf (USA), Royal Philips (Netherland), Zebra Imaging, Eon Reality (US), Nano live SA (Switzerland), Holoxcia (England), Lyncee Tec (Switzerland), Mach 7 Technologies, General Electric Company, DPL Industri A/S Denmark, Olomagic, Arnold Herzig GmbH and others.