The global augmented and virtual reality in healthcare market size is expected to reach USD 14.06 Billion in 2030 and register a revenue CAGR of 21.5% over the forecast period, according to latest analysis by Emergen Research. Technological advancements in the healthcare sector and use and integration of newer more sophisticated solutions in medical procedures are factors driving augmented and virtual reality in healthcare market revenue growth.
Rising adoption of augmented reality and virtual reality in healthcare applications can be attributed enhanced ability for healthcare providers and surgeons to provide more effective health services and gain ability to train healthcare personnel more efficiently and effectively are other factors driving market revenue growth. Increasing trend of digitalization and advancements in technologies in the healthcare sector, and ability to extend augmented reality and virtual reality technologies into various other areas of care management such as in cancer treatment and research, in treatment of autism, depression therapy, and virtual reality-based organ models are effective in reducing trauma.
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The research study presents an industry-wide summary of the Augmented and Virtual Reality in Healthcare market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The global Augmented and Virtual Reality in Healthcare research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.
Key Highlights From the Report
· In March 2021, Vuzix Corporation, which is a leading supplier of smart glasses and AR technology and products, announce a new partnership with TechSee, which is a leader in intelligent visual assistance technology, to deliver a remote visual assistance solution to field service technicians using AR and computer vision on Vuzix\’ M400 and M4000 Smart Glasses.
· Hardware segment accounted for largest revenue share in 2020 owing to increasing deployment of augmented and virtual reality in various areas of the healthcare sector. Use of these technologies requires hardware and devices, such as desktops, head-mounted displays, and various other display devices.
· Augmented reality segment revenue is expected to register a significantly faster growth rate during the forecast period owing to use of AR enabling detection of ability to detect veins as this can be a challenge for medical personnel dealing some cases, such as when patients have pigmented skin or small blood vessels. In such situations, augmented reality driven technologies allow practitioners to view virtual images of a patient’s vasculature, and this enables professionals to detect a vein more effectively.
· In 2020, surgery segment accounted for significantly large revenue share. Application of virtual reality offers a view of a patient’s physiology and anatomy, and helps surgeons in the operating room. Increasing deployment of virtual reality and augmented reality technologies in surgical procedures are driving growth of this segment.
The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Leading Players Profiled in the Report:
Siemens, Koninklijke Philips N.V., CAE Inc., General Electric, Laerdal, EON Reality, Firsthand Technology Inc., Intuitive Surgical Inc., WorldViz Inc., and VirtaMed AG.
The report analyzes the market based on different categories such as product types, end-user applications, and leading geographical regions. It offers key insights into the factors that are expected to influence the growth of the segments and sub-segments.
Emergen Research has segmented the global augmented and virtual reality in healthcare market on the basis of technology, component, application, end-use, and region:
· Technology Outlook (Revenue, USD Billion; 2018–2030)
o Augment Reality
o Virtual Reality
· Component Outlook (Revenue, USD Billion; 2018–2030)
· Application Outlook (Revenue, USD Billion; 2018–2030)
o Training & Education
o Behavioral Therapy
o Medical Imaging
· End-use Outlook (Revenue, USD Billion; 2018–2030)
o Academic Institute
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Major regions include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report studies the market in these regions on the basis of demand and trends, consumer behavior and preferences, government initiatives and regulatory framework, economic growth, technological developments, supply and demand, production and consumption patterns, import/export, and presence of key players in each region.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.