Medical Holography Market Will be Worth US$ 3,565.3 Mn by 2026

Holography is a technique through which light is recorded and scattered through holographic display objects even when the source of light is not available due to the absence of original images. Medical holography includes utilization of holographic technology in the field of medicine, by creating virtual images of physical body parts, which help surgeons diagnose severe chronic diseases at an early stage. Medical holography technique is also widely utilized by students and teachers in academic centres to understand the anatomy and complexity of a disease in a better way. Presently, holographic imaging technology is extensively employed in the healthcare industry for body scanning, medical check-up, and research, which in turn has led to significant expansion of the global medical holography market. The advent of inexpensive processors and high-performance imagers has prompted a majority of industries to acknowledge the benefits of adopting medical holographic imaging technology.

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The global medical holography market was valued at around US$ 240.0 Mn in 2017 and is anticipated to reach around US$ 3500.0 Mn by 2026, expanding at a CAGR of more than 30.0% from 2018 to 2026. Rise in prevalence of chronic diseases, such as cancer and cardiovascular events, increase in the geriatric population, and intensive research activities being performed to determine the various applications of holographic techniques in different surgical procedures are key factors that are estimated to propel the market during the forecast period.

The global medical holography market was valued around US$ 240 Mn in 2017. It is anticipated to expand at a stable CAGR of more than 34% between 2018 and 2026, according to a new report published by Transparency Market Research (TMR) titled "Medical holography market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026". Expansion of the global medical holography market is expected to be driven by technological advancements and increasing usage of 3D medical imaging technology during the forecast period. The medical holography market in North America is expanding at a significant CAGR of above 30.0%, due to high prevalence of chronic diseases, advancements in the health care sector, and increased focus on research and developmental activities.

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Rise in geriatric population with increasing incidence of diseases that require medical imaging technology to drive market

Increase in healthcare reforms in Japan, the U.S., China, and the U.K., has improved access to various diagnostic and treatment services, resulting in raised life-expectancy of the population. It has been estimated by the WHO that, by 2050, the global elderly population would reach around 2 billion, which was around 524 million in 2010. Developed countries have a higher rate of the geriatric population as compared to that of developing countries. This is attributed to improved health care infrastructure, reimbursement policies, and advancements in health care facilities in these countries. Moreover, easy access to various diagnostic and treatment services has been improving in the last few years, especially in developed countries. This, in turn, has propelled the life-expectancy of the population in these countries. The geriatric population is a major end-user of cardiac surgeries, knee-hip implants, colonoscopy, and surgical procedures for the improvement in the quality of their lives. Increase in number of the geriatric population leads to high rate of ailments, which in turn is likely to propel the consumption and demand for medical holography technology.

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