Northbrook, IL -- (SBWIRE) -- 01/19/2021 -- The report "Medical Holography Market by Product (Holographic Display, Microscope, Print, Software), Application (Medical Imaging, Medical Education, Biomedical Research), End User (Medical Schools, Pharmaceutical Companies, Hospitals) – Global Forecast", is Projected to Reach USD 953.9 Million, at a CAGR of 33.7%

Biomedical research segment to register highest growth during the forecast period:

Biomedical Research;

The biomedical research segment is expected to grow at the highest rate during the forecast period. Holography microscopes can be used for various applications in biomedical research, such as real-time monitoring of living cells, defect inspection, and noninvasive analysis of fluid tomography. They provide best solutions for performing cell -based assays, such as cytotoxicity assays using living cells. They are used for early drug discovery applications, such as cell death assays for the toxicological profiling of bioactive compounds and identification of cytotoxic agents in cancer research. Apart from the above applications, the digital holography microscopy technology is also used to measure clinically relevant parameters of RBCs, such as hemoglobin content and mean cell volume (MCV) of individual RBCs. Owing to various benefits, such as label-free monitoring of cellular functions and high-resolution, noninvasive, and real-time imaging, medical holography is witnessing an increase in demand in the biomedical research sector.

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Market Segmentation in Detailed:

Growth in medical holography market can largely be attributed to a number of factors, such as the rising adoption of holography products in biomedical research and medical education, growing clinical applications of holography, and advantages of holography over traditional 2D imaging techniques. However, the high computational cost of processing holograms is restricting the growth of this market to a certain extent.

On the basis of product, the global medical holography market is segmented into holography software, holography displays, holography microscopes, holography prints, and holoscopes. The holography microscopes are expected to register the highest CAGR during the forecast period. Growth in this product segment can be attributed to the various benefits of these products, including real-time cell imaging for life science and medicine applications.

North America represented the largest regional market, followed by Europe, Asia-Pacific, and the RoW. North America represents the fastest-growing region for the medical holography market, primarily due to increasing research initiatives in holography technology, adoption of holographic products by research laboratories and academic centers, and increasing healthcare expenditure in the U.S.

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The development of holograms is an extremely cost-intensive process. It takes significant investments in R&D to develop new products that effectively cater to market needs. The high costs associated with research and technology development (which includes product development, system engineering, software development, clinical assessment, and concerned regulatory approvals for the initiation of product manufacturing) increases the cost of the final product.

Major players in the global medical holography market are EchoPixel, Inc. (U.S.), Realview Imaging Ltd. (Israel), Mach7 Technologies Pte. Ltd. (Australia), Ovizio Imaging systems (Belgium), Holoxica Ltd. (U.K.), zSpace, Inc. (U.S.), Lyncee Tec (Switzerland), Eon Reality (U.S.), Zebra Imaging (U.S.), and NanoLive SA (Switzerland).