Worldwide holographic imaging market is projected to cross US $2.5 billion by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
Advanced holographic imaging system is extensively used in research procedures because of its ability to give highly efficient and sharp 3D images. Increasing adoption of the method in medical education, along with the initiatives taken by the government to facilitate the study of cardiovascular and orthopedic disorders in developed countries will augment the holographic imaging market in the upcoming years.
As cited in the report, integration of advanced technologies in holographic imaging system will promote its use in biomedical research studies, thereby driving the market growth. The market players are also implementing several growth strategies to amplify the market outlook. Taking an instance, Phase Holographic announced collaboration with University of California to aid research process for skin cancer using holographic imaging cytometry technology.
Talking of the product type, holographic display segment was worth US $201.5 million in 2017 and is expected to show continuous growth over the forecast period, owing to the technological advancements in the product. It is a 3D display that projects the object virtually in real space using coherent light. This enables the viewer to observe objects more comfortably from different perspectives.
Considering the application spectrum, holographic imaging market from biomedical research application is presumed to grow with a CAGR of 35.3% over the analysis period. The system is being used extensively across various research programs to get digital holograms of cells, DNA, and organs which can be printed holographically for performing 3D analysis.
With respect to end-user type, research organizations segment held 14.1% revenue share of holographic imaging market in 2017, pertaining to increasing incidences of neurological and cardiovascular ailments among the geriatric population. These organizations are actively working towards developing innovative diagnostic methods to address the rising instances of diseases, thereby fueling the segmental growth.
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In terms of regional landscape, the United States holographic imaging market is anticipated to grow with a CAGR of 32.6% by the year 2024, on account of adoption of these systems by laboratories and research institutes. The surge in biomedical research activities in holographic imaging technology, along with the growing focus of market players on innovative holographic imaging will propel the regional market growth.
Moreover, holographic imaging market in China was worth US $16.9 million in 2017. The regional growth is attributed to increasing R&D spending on healthcare and the prevalence of excellent medical education & technological training, claims the report.
Prominent contender of holographic imaging market profiled in the report are RealView Imaging, Holotech, Lyncee Tec, zSpace, EON Reality, Ovizio Imaging Systems NVSA, Vision Optics, Holoxica Limited, Phase Holographic Imaging, and Nanolive among others.