Medical Holography Market is Projected to be Worth US$ 3,565.3 Mn by 2026

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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Technological advancements in the design of imaging equipment are likely to drive the demand for the same, which in turn is estimated to propel the market. The handheld mobile X-ray devices segment expanded at a higher growth rate, as compared to that of the conventional X-ray devices segment. This, in turn, drives the overall X-ray devices market.

Holography could also transform medicine, as an apparatus, for envisioning patient data while training students and surgical practitioners. Numerous medical systems create complex information utilizing advanced imaging technology; for instance, ultrasound scanning and Magnetic Resonance Imaging (MRI). Usually, electronic data is utilized to show a flat picture on a PC screen; however it can likewise be utilized to deliver full shading, and computer generated 3-D holographic pictures.

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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.

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