The medical holography market size in the Middle East & Africa is predicted to grow from USD 45.68 million in 2023 to USD 153.9 million by 2028, growing at a CAGR of 27.5% from 2023 to 2028.
The demand for medical holography in the Middle East and Africa is expected to grow due to the rising prevalence of chronic diseases, road accidents, and injuries. Also, an increase in complications related to heart problems in the young population and older people is driving the MEA medical holography market.
In addition, growing applications and benefits of medical holography such as the technique are helping doctors and physicians improve treatment with advanced and greater imaging is expected to fuel the market growth. Furthermore, other factors such as the increasing awareness about the adoption of medical holography among the people and the benefits associated with the technique are propelling the growth of the demand for medical holography in the market.
On the other hand, the growing investments in government and non-government in research and development activities are expanding the MEA market growth. Furthermore, technological advancements and innovative devices and techniques are expected to help the market grow as holograms are used to store information; it also allows the recording of images in-depth, allowing doctors and physicians to gain effective learning and perform precise procedures.
However, an increase in the costs of medical devices and equipment is majorly restricting the market growth of medical holography in the MEA region. In addition, the stringent government rules and regulations for introducing products and services in the market with the strict approval process for approving products are affecting the market growth. On the other hand, the rising maintenance and operating costs are also hampering the cost of market growth; medical holography and limited accessibility to medical and healthcare facilities are also restraining the market growth.
This research report on the MEA medical holography market has been segmented and sub-segmented into the following categories:
By Product Type:
By End User:
Middle East Africa is anticipated to account for a moderate share of the global medical holography market during the forecast period. The regional market growth is attributed to the growing population, rising prevalence of chronic diseases such as cancer, heart disease, road accidents, and other injuries and ailments.
South Africa recorded the largest share of the MEA medical holography market in 2022 and it is projected to witness a significant share during the forecast period. The rigorous research and development activities, increasing investments, and adoption of advanced and innovative techniques and drugs are increasing the market growth.
UAE is likely to have a significant growth rate during the forecast period due to the increase in technological advancements in developing various devices and techniques such as advanced imaging technology such as CT scans, X- rays, and MRI scans are triggering the growth of medical holography in the market.
On the other hand, Saudi Arabia is expected to witness a considerable share in the MEA medical holography market during the forecast period. This is because a large number of cardiovascular disease patients in recent years and an increase in government initiatives and policies are facilitating market growth.
KEY MARKET PLAYERS:
A few of the noteworthy players operating in the MEA 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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