Holography is a technology that uses laser light to record 3D image of an object that can be reproduced later even in absence of the object. Holography is based on the principle of light interference. Light interference refers to the virtue of superimposition of two separate light waves to form a resultant light wave with a higher or lower amplitude. Holography is used to make a moving 3D virtual image of an object. Holography in medical field is used to convert information about the human body into a digital format by the virtue of 3D imaging analysis. Medical holography allows medical practitioners to visualize and measure stress on various organs such as lungs, liver, and heart during surgery. Medical holography can be utilized for medical training, measurement of complex 3D structures of human body, tumour localization, remote therapy, planning surgeries, and diagnosis of human diseases. In medical field, holography technology can be used for several applications such as urology, otology, pathology, ophthalmology, orthopaedics, and medical research.

Global Medical Holography Market: Dynamics

The primary driver for global medical holography market include increasing applications of holography for clinical use. For instance, according to a news article published by Imaging Technology News on March 21, 2017, it was observed that several leading clinical sites adopted EchoPixel’s True3D, a 3D medical imaging software powered by HP for use in paediatric surgery. In 2017, clinical sites such as Nicklaus Children’s Hospital, Miami and Sick Kids Hospital, Toronto adopted True3D by EchoPixel. In 2017, True3D was incorporated into a 3D lab at Cook Children’s Medical Center, Texas to establish technologically advanced diagnosis and pre-planning of complex heart surgeries. This 3D technology helps surgeons to interact closely with life-size 3D virtual images of human anatomy during real time cardiac procedures.

Rising launches of products by market players is a major factor that is expected to drive growth of the global medical holography market over the forecast period. For instance, in 2017, EchoPixel, Inc., a U.S. medical device manufacturer, launched True3D Viewer software program for medical visualisation. True3D viewer software creates a hyper-realistic environment for the clinician and enables them to interact with the virtual 3D images of the human anatomy the same way as they do with real objects. Moreover, in September 2019, EchoPixel, Inc. announced the launch of an intraoperative software which is the first of its kind. This software assists cardiologists in carrying out complex heart procedures by visualization of 3D medical images in real time. Thus, with the use of such advanced 3D imaging technology surgeons can pre-plan a surgery, understand the anatomic variability involved in cardiac procedures and also deliver personalised procedures specific to a particular patient.

Moreover, the global medical holography market is expected to show potential growth over the forecast period due to rising focus of market players in getting product approvals from regulatory authorities. For instance, in December 2019, Chicago-based Augmedics, a virtual reality solutions company received the U.S Food and Drug Administration (FDA) 510k clearance for the use of its product xvision spine system (XVS). XVS is a minimally invasive 3D imaging headset used in spinal surgery.

Global Medical Holography Market: Restraints

High computational cost of constructing a hologram and requirement of skilled professionals for use of medical holography may hamper growth of the global medical holography market over the forecast period. For instance, according to an article published by the Indian Journal of Radiology and Imaging in July 2020, capturing 3D images using holography technology requires highly skilled healthcare professionals, however not many clinicians are aware of the recent advances in holography, thus limiting use of holography in medical field. Moreover, the software and hardware used for production and visualization of 3D medical images is more expensive compared to traditional 2D imaging techniques. Moreover, image capturing using holography is a time consuming process.

Global Medical Holography Market: Regional Insights

North America is expected to hold largest market share in the global medical holography market followed by Europe. The market growth in these regions is mainly attributed to increasing adoption of technological advancements in medical field. For instance, in June, 2020, Augmedics announced that its xvision Spine System, a personalized headset with 3D medical imaging software that provides virtual 3D navigation in real time surgery was used for first ever augmented spine surgery by surgeons at Johns Hopkins University. This software technology helps in achieving precision during screw placements in spine and also reduces the total time taken for spinal surgery.

Moreover, rising product launches and approvals will aid North America region and Europe region to maintain their position in the global medical holography market. For instance, in September 2020, SentiAR, Inc., a U.S.-based medical technology manufacturer received the U.S. FDA approval for its revolutionary CommandEP system, which is a holographic guidance system used to assist cardiologists during invasive heart surgeries.

Asia Pacific is expected to witness promising growth in the global medical holography market over the forecast period, owing to rising product launches. For instance, in April 2019, RealView Imaging, an Israel-based medical technology manufacturer launched Holoscope-I, which is the world’s first holographic system to provide full colour, accurate, high resolution 3D in-air holograms.

Global Medical Holography Market: Competitive landscape

Key players operating in the global medical holography market include EchoPixel, Inc., zSpace, Inc., Mach7 Technologies Pte. Ltd., Zebra Imaging, RealView Imaging Ltd., Nanolive SA, Augmedics, Eon Reality, Holografika Kft., Ovizio Imaging Systems, Holoxica Ltd., and Lyncée Tec.

Global Medical Holography Market: Taxonomy

By Product Type