Medical Holography Market to Surge at a CAGR of 34.6% by 2026

Cancer was the second-leading cause of death, and in 2015, it was responsible for 8.8 million deaths worldwide. Helicobacter pylori infection is the best known carcinogen for gastric cancer. Most gastric cancer cases in Western countries are diagnosed at late stages, when the treatment remains less effective. Increasing prevalence of chronic diseases, such as cancer and cardiovascular diseases, has fueled the demand for diagnostic methods to detect cancer and cardiac diseases at an early stage. The progress of cancer depends upon its stage, and most advanced developments in diagnostics and medical holography technology and devices have therefore focused on early detection. These factors are expected to boost the medical holography market in the near future in order to identify chronic diseases such as cancers and cardiac disorders at an early stage.

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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 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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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.

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