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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

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

  • Holographic Display
  • Holographic Microscope
  • Holography Software
  • Holographic Prints

By Hologram Type

  • Reflection Hologram
  • Transmission Hologram
  • Hybrid Hologram
  • Embossed Holograms
  • Integral Holograms
  • Holographic Interferometry
  • Multichannel Holograms
  • Computer-generated Holograms

By Technology

  • X-ray Holography
  • Endoscopic Holography
  • Hologram Recording Endoscope
  • Multiplexed Holography
  • Light-in-flight Holography

By Application

  • Biomedical Research
  • Medical Education
  • Medical Imaging
  • Dentistry
  • Urology
  • Otology
  • Pathology
  • Ophthalmology
  • Orthopedics
  • Others

By End User

  • Hospitals and Clinics
  • Research Laboratories
  • Biotechnology & Pharmaceutical Organizations

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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