Similar to most other fields of medical science, medical imaging has witnessed strong growth in the implementation of new technologies over the years, and it continues to be influenced largely by developments in imaging techniques and AI. Current and upcoming innovations in advanced imaging techniques combined with those in computing are set to transform medical imaging.
The idea of holographic imaging in the medical industry is relatively new and going by the exact definition of holograms, no one, as of today, makes holograms. However, this report attempts to consider those technologies that produce 3D content that closely resemble holograms. In fact, if done right, the generated images through these technologies can even outperform holograms. Holographic imaging is considered as the ‘holy grail’ of medical imaging. Adoption rate of technologies such as Light Field Displays and Volumetric Displays is currently low, due to the presence of very few market players, most of which are currently investigating use cases for their very first products and prototypes. However, the next decade is estimated to be crucial to the growth of the holographic imaging market, largely driven by product launches and new market entrants.
According to the recently published market intelligence by BIS Research, titled “Global Holographic Imaging Market — Analysis and Forecast, 2019–2029”, the holographic imaging market registered a revenue of $19.9 million in 2018. The market is projected to grow at a CAGR of 35.9%, during the forecast period from 2019 to 2029.
Since the market is in its initial stages, there are few players. Most of them are focusing on R&D aimed at enhancing the image rendering process and thus, the image quality. The market growth for the forecast period has been calculated after carefully going through the pipeline products for each company, as well scrutinizing the pattern of new entrants in the market. Some of the leading players in the market include RealView Imaging Ltd., EchoPixel Inc., SeeReal Technologies S.A., Holografika Kft., Looking Glass Factory, Holoxica Ltd., Microsoft Corporation and Voxon Photonics Pty. Ltd.
Currently, regions such as North America, Europe, and some countries in Asia represent most of the holographic imaging market. Developing countries such as China and India have not gained traction in the market due to lack of awareness about the technology among patients, resulting in less trust on new methods Traditionally used 2D visualization techniques are preferred over new technologies. However, an increased interest in the use of AR and VR headsets for research and scientific visualization purposes is expected to result in a shift in preferences. It is expected that holographic imaging technology will make its way in the developing countries in a couple of years. However, the initial incremental growth per year would be on the lower side.