Augmented Reality & Virtual Reality In Healthcare Market: Augmented Reality Technology Segment Dominated Largest Revenue

 Augmented Reality & Virtual Reality In Healthcare Industry Overview

The global Augmented Reality & Virtual Reality in healthcare market size was valued at USD 2.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 27.2% from 2021 to 2028. Technological advancements and digitalization in healthcare, favorable government initiatives, rising healthcare expenditure, growing usage in surgical procedures, and medical training are some of the fundamental factors anticipated to boost the growth and adoption of the augmented reality (AR) and virtual reality (VR) technologies in the healthcare industry. These technologies have wide applications in healthcare including surgeries, diagnostics, rehabilitation, training, and education.

Augmented and virtual reality techniques are being increasingly adopted in surgeries and diagnostics. Systems such as touch surgery use virtual reality to provide a view of the patient’s anatomy and physiology, thereby providing opportunities for surgeons in the operating room, This, in turn, is expected to augment the growth of the market for augmented reality and virtual reality in healthcare. The growing adoption of Augmented Reality (AR) and Virtual Reality (VR) technologies in medical surgeries to optimize surgical procedures and increase the efficiency of treatment is one of the key factors driving market growth over the past few years. For instance, in December 2019, Augmedics launched the Xvision Spine AR guidance system for spine surgeries in the U.S. This solution allows the surgeon to view the 3D spinal anatomy of the patient during the surgery. Augmedics also received the U.S. FDA approval for Xvision in December 2019. Moreover, the increasing practice of storing medical images and patient data on the AR/VR platform helps in reducing requirements for expensive screens and unnecessary staff.


Gather more insights about the market drivers, restrains and growth of the Global Augmented Reality & Virtual Reality In Healthcare market

Additionally, AR is being widely adopted for education and training purposes for medical personnel. Since AR-based learning modules provide anatomical visualization and simulation it gives the medical personnel a more wholesome complete learning experience. Moreover, these learning modules are even being used to train patients and helps them understand the treatment flow and care management better. AR-based image visualization assists the surgeons and enhancing their accuracy and precision during complex surgeries. For instance, in February 2019 Philips Healthcare collaborated with Azurion and Microsoft to develop a mixed reality concept to provide a 3D holographic AR environment derived from multiple image modalities to assist surgeons.

During the outbreak of the COVID-19 pandemic, AR & VR in healthcare was influenced positively owing to the technological advancements in this space. For instance, in April 2020 XRHealth extended its application by raising USD 7 million to expand its telehealth platform. Similarly, Imperial College and St. Mary’s Hospital in London are using augmented reality glasses to visualize 3D imaging of blood vessels during reconstructive surgeries. Augmented reality and virtual reality in healthcare help in efficiently managing the treatment schedules, treatment delivery, and plans, and thereby it is anticipated to exponentially grow during the pandemic. Additionally, the decreasing costs in healthcare, rapid digitalization of healthcare, and improved delivery of effective health services are expected to drive growth. AR and VR in healthcare are gaining momentum due to widespread adoption in telemedicine, medical training & education, patient care management, medical marketing during the COVID-19 pandemic.

Furthermore, mergers and acquisitions, product development and launches, partnerships, and collaborative agreements are some of the crucial initiatives being undertaken by key players, which are expected to propel market growth. For instance, in January 2021 Hologic Inc acquired Biotheranostics, a molecular diagnostics company for USD 230 million. Through this acquisition, Hologic Inc and Biotheranostics will combine their capabilities and utilize their expertise in oncology diagnostics and advanced woman health diagnostics.

 

Browse through Grand View Research's Healthcare IT Industry Research Reports.

  • Electronic Lab Notebook Market - The global Electronic Lab Notebook (ELN) market size was estimated at USD 532.0 million in 2018 and is anticipated to expand at a CAGR of 4.8% over the forecast period. An increase in demand for automation in laboratories is expected to fuel the adoption of ELN. The benefits such as process optimization, improved regulatory compliance, reduced labor cost, improved data quality, and faster delivery are some of the major factors driving the growth.

 

  • Agritourism Market - The global agritourism market is anticipated to grow significantly over the forecast period. Agritourism is associated with rising living standards, economic growth, and socio-cultural enhancement of rural areas. The agritourism market growth is driven by factors such as the strong demand for family-oriented recreational activities provided at an economical cost as compared to other hotel packages. Moreover, the consumer demand for local food and experiences during the farm stay is resulting in increasing stakeholder interest.

 

Augmented Reality & Virtual Reality In Healthcare Market Segmentation

Grand View Research has segmented the global augmented reality & virtual reality in healthcare market on the basis of component, technology, and region:

AR & VR In Healthcare Component Outlook (Revenue, USD Million, 2016 - 2028)

  • Hardware
  • Software
  • Service

 

AR & VR In Healthcare Technology Outlook (Revenue, USD Million, 2016 - 2028)

  • Augmented Reality
  • Virtual Reality

 

AR & VR In Healthcare Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies profiled:

Some prominent players in the global Augmented Reality & Virtual Reality In Healthcare market include

  • CAE
  • GE Healthcare
  • Koninklijke Philips N.V.
  • Intuitive Surgical
  • Siemens Ltd
  • Eon Reality, Inc
  • Layar
  • Bioflight VR
  • WorldViz
  • TheraSim Inc
  • Mindmaze

 

Order a free sample PDF of the Augmented Reality & Virtual Reality In Healthcare Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Comments

Post a Comment

Popular posts from this blog

Drug Addiction - Pipeline Review, H1 2017 Market Overview and trends research report

Radiant insights, inc latest Pharmaceutical and Healthcare disease pipeline guide Drug Addiction - Pipeline Review, H1 2017, provides an overview of the Drug Addiction (Central Nervous System) pipeline landscape. Drug addiction, also called substance dependence or chemical dependency, is a disease that is characterized by a destructive pattern of drug abuse that leads to significant problems involving tolerance to or withdrawal from the substance. Drug addiction symptoms or behaviors include recurrent drug use that results in a lack of meeting important obligations at work, school, or home, inability to sleep, awake at unusual times, unusual laziness, loss of or increased in appetite, changes in eating habits, cold, sweaty palms; shaking hands., red, watery eyes; pupils larger or smaller than usual and unusual smells on breath, body or clothes. Report Highlights Radiant insights, inc Pharmaceutical and Healthcare latest pipeline guide Drug Addiction - Pipeline Review, H1 2017, p...
Read more

All Countries Dialyzer Industry 2013-2028 - Market Size, Share, Outlook, Growth, Key Players and Forecast

The global Dialyzer market was valued at $XX million in 2018, and Radiant Insights, Inc analysts predict the global market size will reach $XX million by the end of 2028, growing at a CAGR of XX% between 2018 and 2028. This report provides detailed historical analysis of global market for Dialyzer from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Dialyzer market. Download Free Sample Report @ https://www.radiantinsights.com/research/2013-2028-report-on-global-dialyzer-market/request-sample Leading players of Dialyzer including: • Fresenius Medical Care • Baxter • Nipro • Asahi Kasei • Toray • B.Braun • Nikkiso • Medtronic • Kawasumi • Medica • Wego • Lengthen • Peony Medical • Chengdu OCI • Bain Medical Equipment Market split by Type, can be divided into: • Flat Type Dialyzer • Coil Tube Dialyzer • Ho...
Read more

Insights into the Medical Waste Disposal Category: A Comprehensive Procurement Intelligence Report

  Medical Waste Disposal Category Overview The medical waste disposal category is anticipated to grow at a CAGR of 6.0% from 2023 to 2030. Appropriate disposal of medical trash is the key challenge for healthcare providers across the globe. Rising awareness about the benefits of proper medical waste management for treatment, recycling, and disposal of medical trash has boosted the growth of the category. According to the World Health Organization Study Report 2022, countries with low income generate over 0.2 kg of medical trash per day per hospital bed, whereas countries with high income generate hazardous waste of up to 0.5 kg per hospital bed each day. Moreover, rising government initiatives and strict rules and regulations for waste management are also expected to drive the category. For instance, in December 2022, an MOU was signed between the Center for Health Environment Research and Development and Can Tho Central General Hospital under USAID’s Reducing Pollution Project. T...
Read more