The size of the Medical Holography Market in Europe is predicted to grow USD 563.75 million by 2027 from USD 146.69 million in 2022, registering a CAGR of 30.9% during the forecast period.
As more and more university centers in Europe, the market is expected to experience healthy growth in the coming years, owing to the increasing adoption of medical holography for educational purposes. According to a recent study, medical holograms have improved better understanding of anatomy than traditional methods. Other advantages are better medical instructions, collaborative visualization, intuitive visualization, and improved communication for complex anatomical data. These advantages are intended to stimulate the growth of the European medical holography market.
High initial and maintenance costs are the major factors limiting the growth of the European medical holography market.
This research report on the European medical holography market has been segmented and sub-segmented into the following categories:
By Product Type:
By End User:
Based on the region, the European market is expected to be the second-largest regional market globally, followed by North America. Factors like the efficacy of holographic devices in the medical field and rising investment for innovation are expected to drive market growth in the region. The high health expenditure per capita coupled with the high adoption of holography devices are the key factors contributing to the high market share in the region. Germany is expected to experience considerable growth in the global market during the forecast period. The increasing prevalence of chronic diseases is a key factor in the growth of the medical holography market in Germany.
Germany held a leading position in the European market, with over 30.0% in 2020. The share gained by this region can be attributed to the in-depth research activities carried out by most of the major players based in the region. Furthermore, the increasing burden of disease and the clinical urgency of effective detection technologies such as medical holography, which is becoming more and more accessible in the region, serve as an important catalyst for growth in the region. In addition, the increased acceptance of holographic teaching tools in the region is expected to influence the overall European market positively.
The UK is expected to experience phenomenal growth during the forecast period. The increase in disposable income, the growing healthcare expenditure, and advanced physician awareness of the product's benefits for diagnostic and interventional procedures will boost the regional market.
In 2017, Holoxica Limited, a UK-based company, launched a 3D holographic display for interactive medical image data visualization with scientist collaborations at ACTPHAST. These 3D holographic displays can project internal organs and structures created by MRI, CT, PET, or ultrasound data sets. Hence, due to these reasons, the market may experience significant growth for the forecast period.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the European medical holography market profiled in the report are EchoPixel, Inc., Lyncee Tec, Eon Reality, Holografika Kft., Realview Imaging Ltd., Mach7 Technologies Pte. Ltd., Ovizio Imaging systems, Holoxica Ltd., zSpace, Inc., Zebra Imaging and NanoLive SA.
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