Medical Holography Market is Projected to Expand at a CAGR of 34% from 2018 to 2026
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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Holographic technology is widely utilized for virtual display of images of the internal organs, heart, gastric organs, such as pancreas, liver, and the developing embryo for diagnosis of cancer and other chronic disease conditions. Applications of medical holography, such as medical imaging of different parts of body organs suspected of disease, possess potential for the medical holography market in the near future. Thus, further research in the field of medical holography for further utilization offers significant opportunities to the market in the near future.
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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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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