AR in Healthcare Market Overview
The healthcare industry is currently disrupted by various novel technologies, and augmented reality can be counted in among the most path-breaking technologies in the current era. Even though the technology has been existing for a long time, it is only recently that the technology is on its path to achieving commercialization. Augmented reality in healthcare can bring about various changes for the industry, which includes improved healthcare outcomes. Market Research Future (MRFR) has added a new report on the global augmented reality in healthcare market to its portfolio. In the report, MRFR has asserted that the AR in Healthcare Market is anticipated to expand at a CAGR of 23%, reaching USD 1.32 Bn by the end of the forecast period of 2017-2023.
Augmented reality offers the promise of accelerating the learning curve for new medical technologies. The technology can augment and overlay the real clinical environment, which assists critical surgeries. The intensifying need to reduce the burden of the surging incidence rate of chronic diseases on the healthcare industry is primarily driving the growth of the market. The growing penetration of connected devices is a crucial factor motivating the growth of the market.
On the other hand, even though augmented reality is contributing to the healthcare industry, it is accompanied by certain challenges. Unwillingness on the part of clinicians to adopt the technology, as well as the failure to learn the nuances of the technology can hamper the growth of the market.
AR in Healthcare Market Segmentation
The augmented reality in healthcare market has been segmented based on component, device type, and application.
Major components discussed in the market report include hardware, software, and others. The hardware segment has been further segmented into sensors, displays and projectors, position tracker, cameras, and others.
By device type, the augmented reality in healthcare market has been segmented into head-mounted display, handheld device, and others.
Application-wise, the augmented reality in healthcare market has been segmented into fitness management, medical training and education, and others.
AR in Healthcare Market Regional Analysis
Region-wise, the augmented reality in healthcare market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is the leading market for augmented reality in healthcare. The region is technologically-rich and boasts of a robust healthcare sector. State-of-the-art healthcare infrastructure allows the integration of advanced technologies easily, which is a key growth determinant. Besides, the region is an early adopter of latest technologies which has provided the augmented reality in healthcare market ample scope to expand. The high adoption rate of consumer electronics devices has boosted the growth of the market to a large extent. Moreover, a number of key market players are based in the region, which provides unprecedented leverage to the market.
Europe augmented reality in healthcare market is expected to exhibit considerable growth in the coming years. Government support towards the healthcare sector and increasing adoption of technology in the region is favoring the growth of the market.
The APAC market is slated to register the highest CAGR over the forecast period. The region is in the midst of economic growth and development, which is aiding the growth of the market. The rapid adoption of advanced technologically and the modernization of the healthcare supported by the governments in the region is augmenting the growth of the market.
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AR in Healthcare Market Competitive Landscape
Wikitude GmbH (Austria), Magic Leap, Inc. (U.S.), Augmedix (U.S.), Virtually Better (U.S.), Atheer (U.S.), Blippar (U.K), CAE Healthcare (U.S.), Mindmaze (Switzerland), DAQRI (U.S.), Siemens Healthineers (Germany), Oculus VR (U.S.), Osterhout Design Group (U.S.), Medical Realities (U.K), 3D Systems (U.S.), VirtaMed (Switzerland), Microsoft Corporation (U.S.), HTC (Taiwan), Philips Healthcare (Netherlands & U.S.), and Google LLC. (U.S.) are the notable players in the global augmented reality in healthcare market.
The global AR & VR in healthcare market is expected to exhibit a robust 30.2% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).
The report thus provides readers with a comprehensive overview of the global AR & VR in healthcare market.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/7208AR & VR technologies have gained several new applications in the healthcare sector in recent years.
it cuts out the viewer’s connection with the real world and immerses them into the interactive experience fully.
Various applications have been developed for AR & VR in healthcare over the last few years, including in fitness management and therapy.
Surgical processes can also be simulated by AR & VR technologies, allowing surgeons to gain some practice without having to use real bodies.Competitive Leaderboard:Leading players in the global AR & VR in healthcare market include 3D Systems Inc., Hologic Inc., Orca Health Inc., Surgical Theater LLC, Osso VR Inc., EchoPixel Inc., Psious, Oculus VR, Mindmaze, Microsoft, Medical Realities, Google, Firsthand Technology, Daqri, Augmedix, and Atheer.
Major players in the global AR & VR in healthcare market are likely to focus on coming up with new products in the coming years, as the demand for innovative applications of AR & VR technology has grown steadily over the last few years and is likely to increase over the forecast period and beyond.
AR & VR in Healthcare Market Research Report: By Technology (AR and VR technology), Offering (Hardware & Software), Device Type (AR & VR Device Type), Application (Fitness, Patient Care, Pharmacy Management & Others), End User – Global Forecast Till 2027Market ScenarioMarket Research Future asserts that the global AR & VR in the healthcare market is estimated to demonstrate 30.2% throughout the forecast period (2018-2023).
With the help of VR and AR, platform experts from several locations can join a surgical procedure virtually.
AR and VR technology are not only beneficial for the doctors but also the patients and provide great convenience to the patients by allowing them to visit the physicians virtually.Market Potential and PitfallsThe AR & VR technology is highly penetrating the healthcare market and is likely to transform the entire healthcare sector.
With augmenting funding from the government, the global AR & VR in healthcare market is estimated to flourish throughout the forecast period.
Moreover, rising convenience through virtual visits allows virtual reality to stay ahead in the healthcare AR VR market.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/7208On the contrary, concerns associated with data privacy, lack of competence in the deployment of AR and VR solutions, and lack of expertise among the medical practitioners are some of the top barriers considered to vitiate the market growth in the coming years.Global AR & VR in Healthcare Market: Segmental AnalysisThe global AR & VR in healthcare market has been segmented on the basis of offering, technology, application, device type, and end user.By mode of technology, the global AR & VR in healthcare market has been segmented into AR technology and VR technology.By mode of offering, the global AR & VR in healthcare market has been segmented into hardware components and software.By mode of device type, the global AR & VR in healthcare market has been segmented into AR device type and VR device type.By mode of application, the global AR & VR in healthcare market has been segmented into patient care management, fitness management, pharmacy management, surgery, medical training and education, and others.By mode of end-users, the global AR & VR in healthcare market has been segmented into surgical centers, hospitals & clinics, research and academic institutes, pharmaceutical companies, and others.Regional InsightsGeographically, the AR & VR in healthcare market span across regions namely, Europe, Asia Pacific, America, and the Middle East & Africa.Among all the regions, the American region is considered to dominate the global AR & VR in healthcare market and is likely to retain its dominance in the coming years.
For instance, approximately USD 288 million can be saved on minimally-invasive surgical procedures with the use of AR navigation system.The European region is estimated to occupy the second position owing to the augmented funding for innovation coupled with the growing technological advancements.
The AR & VR in healthcare market HighlightsThe AR & VR in healthcare market is expected to grow at an approximate CAGR of 30.2% during forecast period, 2018–2023.Rising demand to reduce healthcare cost is one of the key factors driving the AR & VR in healthcare market.
For instance, with the use of AR navigation system nearly USD 288 million can be saved on minimally-invasive surgical procedures in the US.Various other factors such as rising government funding, high prevalence of chronic diseases, rising adoption of AR and VR in fitness management, increasing penetration of connected devices in the healthcare sector, and rising awareness about VR therapy are also expected to propel the growth of the market.Avail a Free Sample@ https://www.marketresearchfuture.com/sample_request/7208 However, concerns regarding data privacy, lack of expertise among medical practitioners, and lack of competence in deployment of the AR and VR solutions can hinder the market growth over the forecast period.SegmentationThe AR & VR in healthcare market is segmented based on technology, offering, device type, application, end user, and region.The global market for AR & VR in healthcare, by technology is segmented into AR technology and VR technology.
The AR technology segment is further classified as marker-based AR and markerless AR.
The marker-based AR segment includes passive marker, and active marker.
The VR technology segment is further classified as nonimmersive technology, and semi-immersive and fully immersive technologies.Based on offering, the market is segmented into hardware components and software.
The sensors segment includes accelerometer, gyroscope, magnetometer, and proximity sensor.
