The size of the Medical Holography Market in the Middle East & Africa is valued at USD 35.83 million in 2022 and is expected to grow at a CAGR of 27.5% to reach USD 120.72 million by 2027.
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 the complication 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 recording 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 maintaining and operating costs are also hampering the cost of market growth; medical holography and limited accessibility to the medical and health care 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 moderates share in 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 2020, 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, 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 the 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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