Holographic Imaging Market
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Holographic Imaging Market size exceeded USD 331 million in 2017 and is anticipated to grow at a CAGR of over 34% from 2018 to 2024. Growing awareness regarding usage of holographic imaging in medical education will boost the market growth. Newly developed holographic imaging systems possess high efficiency and gives clear 3D images that aids the research processes.
Government in developed countries such as UK and Germany implement several initiatives that facilitates the research process undertaken for studying orthopedic and cardiovascular disorders thereby, augmenting the demand for holographic imaging systems in the coming years. Furthermore, there has been a considerable increase in the adoption of holographic imaging system for conducting biomedical research process in India that will further stimulate the market expansion during the forecast timeframe.
Increasing demand for holography technology in developed countries will drive the holographic imaging market progression. Recently developed holographic systems have ability to diagnose diseases and find high preference as it offers non-invasive diagnosis. Holography has intense applications in ophthalmology, orthopedics and dentistry. However, high cost associated with processing holograms will restrain the industry growth up to some extent.
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| Holographic Imaging Market size in 2017: | 331 Million (USD) |
| Forecast Period: | 2018 - 2024 |
| Forecast Period 2023 - 2032 CAGR: | 34 |
| 2023 Value Projection: | 2.5 Billion (USD) |
| Historical Data for: | 2013 - 2017 |
| No of Pages: | 140 |
| Tables, Charts & Figures: | 112 |
| Segments Covered: | Product, Application, End-user and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Holographic microscopes segment valued at USD 67.5 million in 2017 and considerable revenue size can be associated with digitalization in holographic microscopes. Advancements in holographic microscopy has positively impacted the segment growth. For instance, industry players try to add innovations by combining real time, nanometric resolution and non-invasive 3D observations that has revolutionized the digital holographic microscopy. Newley developed microscopes are highly preferred amongst the scientists and researchers involved in biomedical research that will propel the segment expansion.
Holographic software segment will witness 34.3% growth rate through 2024. Clinicians and doctors are now able to use software and digital hardware that helps in accurate diagnosis of disorders. It helps the doctors to analyze abnormal or 3D complex structures that improves the surgical performance thereby, positively effecting the segment progression during the forecast timeline.
Medical imaging segment captured 15.9% market share in 2017 led by the growing usage of holographic systems in medical imaging. Technological advancements integrated within the holographic imaging systems has fueled its acceptance amongst the doctors and clinicians. Also, key industry participants try to innovate new holographic systems.
Medical education segment in the holographic imaging market is estimated to attain a CAGR of 33.1% till 2024. Extensive utilization of holographic systems in studying defects in several internal organs will positively spur the segment value. Holographic systems produce superior quality 3D images as compared to conventional X-ray systems that helps the medical students to learn anatomy of internal organs easily.
The holographic imaging market for research organizations segment accounted for 46.6 million in 2017 impelled by the rising usage of digital holographic software. Developed countries such as Germany undertake numerous research activities for developing new therapies and drugs for diseases. Research studies requires study of internal organs and availability of technologically advanced holographic systems will increase its adoption amongst researchers that will escalate the segment demand in the coming years
Hospitals and clinics segment in the holographic imaging market will showcase 34% gains by 2024. Significant growth will be as a result of high acceptance of holographic systems for diagnosis of various disorders. Holographic systems provides non-invasive methods for diagnosis that will increase its preference. Moreover, innovative technology introduced within these systems will help the doctors to better analyze the 3D anatomical images due to availability of technologically advanced software that will foster the segment size.
India holographic imaging market size over USD 11.8 million in 2017. Growing awareness regarding availability of holographic imaging systems will influence its adoption. Additionally, government initiatives and funding have facilitated the research activities that will trigger the usage of holographic imaging systems accelerating the growth for Indian market during forecast period.
U.S. holographic imaging market is expected to expand at a CAGR of 32.6% during 2018 to 2024 owing to the usage of technologically advanced holographic systems in diagnosis of cardiovascular diseases. Newly developed holographic imaging systems possess the ability to project 3-D images from datasets created by rotational angiography, magnetic resonance imaging or 3-D ultrasound such as transesophageal echo, computed tomography. Growing use of structural heart interventional holographic imaging devices will help in reducing the symptoms of diastolic heart failure thereby, positively accelerating the industry expansion over the coming years.
Prominent players operational in the holographic imaging market includes:
Key companies undertake strategic initiatives such as new product launch, strategic mergers and acquisitions that renders them with competitive advantage.
Holographic industry is still in developing phase and is yet to experience numerous growth opportunities in the coming years. Technological advancements in holographic systems have transformed the research processes by enabling real-time 3D imaging. In addition, industry has evolved drastically, and the systems being utilized by doctors and clinicians have been digitalized that has made disease diagnosis easy. Traditionally used microscopes and software have now been replaced by the holographic imaging systems as the key industry leaders are focusing their efforts on R&D to add innovations that will enhance users experience with real-time 3D imaging.
Market, By Product (USD Million)
Market, By Application (USD million)
Market, By End-user (USD million)
The above information is provided for the following regions and countries:
The holographic imaging industry value will record a CAGR of 34% through 2024 driven by the surging awareness regarding holographic imaging in the sector of medical education.
The U.S. market revenue will grow at a CAGR of 32.6% through 2024 due to the utilization of technologically advanced holographic systems in the diagnosis of cardiovascular diseases.
The share from medical education will escalate at a CAGR of 33.1% through 2024, owing to the wide usage of holographic systems in studying defects in numerous internal organs.
The industry revenue from holographic software will grow at 34.3% rate by 2024, propelled by their usage in the accurate diagnosis of disorders.