The global Augmented Reality In Healthcare Market is estimated to be valued at US$ 5,049.7 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Augmented reality in healthcare allows healthcare professionals to view virtual information and diagnostic images along with real life objects. This helps doctors perform surgeries accurately and also assists in disease diagnosis and treatment. Augmented reality provides non-invasive and cost effective healthcare solutions.
Market key trends: One of the key trends in the augmented reality in healthcare market is use of mobile apps for medical imaging and mobility. Mobile devices are becoming an integral part of healthcare as more doctors are accessing medical records and diagnostic reports on smartphones and tablets. AR apps are being developed to view 3D anatomical models, surgical simulations and medical images on mobile phones thereby improving mobility of healthcare professionals. This trend is expected to drive significant growth in the AR healthcare market over the forecast period.
Segment Analysis
The global augmented reality in healthcare market is segmented on the basis of offering, device type, application, end-user, and geography. By offering, the market is bifurcated into hardware and software. The hardware segment is expected to dominate the market during the forecast period. Augmented reality devices such as smart glasses, head-mounted displays, and others are widely adopted in healthcare applications such as surgical planning and simulation, rehabilitation, patient care management, and medical training and education.
Key Takeaways
The global augmented reality in healthcare market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing demand for virtual and augmented reality in the healthcare sector.
Regional analysis
North America is expected to dominate the global augmented reality in healthcare market during the forecast period. The region's large share can be attributed to high adoption of AR devices in the U.S. and Canada and presence of prominent market players. Asia Pacific is expected exhibit the highest CAGR during the analysis period due to growing medical tourism industry and increasing investments by governments and private players in the healthcare sector in emerging countries.
Key players
Key players operating in the Augmented Reality In Healthcare Market are Google, Microsoft, DAQRI, Psious, Mindmaze, Augmedix, Philips Healthcare, EchoPixel, Orca Health, and Medical Realities. Some of the recent developments in the augmented reality in healthcare market include Google and Johnson & Johnson partnering in 2021 to apply AR/VR tech to enhance medical imaging, diagnosis and treatment. Microsoft also announced a partnership with Novartis in 2021 to leverage HoloLens for pharmaceutical research.
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