Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market Worth About USD 5.1 Billion By 2025
The global Augmented reality (AR) & virtual reality (VR) in healthcare market size is expected to value at USD 5.1 billion by 2025. The augmented reality (AR) & virtual reality (VR) in healthcare industry is subject to witness a substantial growth due to the growing implementation of augmented reality (AR) and virtual reality (VR) in healthcare sector, increasing focus towards development of latest technologies, and recent infrastructural activities in healthcare sector.
Factors
responsible for sustained market growth in the last few years include
increasing focus on surgical simulations, diagnostic imaging, patient care
management, rehabilitation, and pain management. Globally, the augmented
reality & virtual reality in healthcare market is predicted to grow at CAGR
of 29.1% in forecast period providing numerous opportunities for market players
to invest in research and development in the augmented reality (AR) &
virtual reality (VR) in healthcare industry.
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Increasing
adoption of advanced technologies such as augmented reality (AR) & virtual reality
(VR) are expected to revolutionize the healthcare sector due to their vast set
of applications such as virtual training exercises for surgeons during complex
surgeries, 3-D OPDs simulations, phobia buster in mental health treatment, and
chronic pain management.
Virtual
reality (VR) technology is widely adopted in Eye Movement Desensitization and
Reprocessing (EMDR) therapy. Additionally, virtual reality (VR) technology aids
in treatments such as autism therapy, depression therapy, cancer therapy and
rehabilitation. Virtual reality (VR) technology based organ prototypes helps
surgeons by preparing them for highly-sensitive and complex set of operations
that require high accuracy, lessened complications and minimum trauma cases.
Growing
popularity of augmented reality (AR) as a training and education tool is
expected to widen the market reach in forecast period. Additionally, increasing
use of augmented reality based apps include enhanced care for patients across
the globe. Inception of highly advanced technology solutions such as vein
visualization technology, which is implemented on a handheld scanner, helps
healthcare professional, doctors and nurses to identify veins and valves
accurately in time constrained environment to reduce pain during surgical
procedures.
Various
augmented reality (AR) android & iOS apps helps healthcare in aftercare of
patients and aids elderly people to administer their medications intake. The
rise in adoption of augmented reality (AR) & virtual reality (VR) is not
only allows better patient care management but also offers real-time services,
thus expanding market reach in the forecast period.
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Augmented
reality (AR) market segment has witness substantial growth over the forecast
period owing to factors such as increasing preference toward AR as a training
and education tool by healthcare professionals. Recent technological
advancement and growing infrastructural activities in healthcare sector has
paved way for increasing demand for augmented reality (AR) in healthcare IT industry.
Other
factors attributing to the growth of AR market segment are assistance in
patient care & management services, and medical imaging along with
head-mounted displays. Growing popularity of augmented reality (AR) in fitness
management due to development of numerous AR-based wellness and fitness apps,
are transforming the fitness sector.
The
augmented reality (AR) & virtual reality (VR) in healthcare market is
divided by region such as North America, Europe, Asia-Pacific, Latin America
and Africa. North America has shown major growth in recent years owing to the
rise in the adoption of latest technologies in medicine and pharmaceutical
sector, growing prevalence of neurological & psychological disorders, and
existence of well-established healthcare infrastructure. Asia-Pacific region is
predicted to hold major market share in the augmented reality & virtual
reality in healthcare industry with massive growth in forecast period.
Countries
such as India, China and Singapore are leading the Asia-Pacific market with
rise in the prevalence of chronic diseases, and increase in number of internet
& smartphone users, rise in government initiatives for adoption of digital
& advanced technologies and significant investment by leading industry
players considering potential growth opportunities in the region.
The
key players in the augmented reality (AR) & virtual reality (VR) in
healthcare market are Intuitive Surgical, Inc., CAE Healthcare Pvt. Ltd., 3D
Systems Incorporations, Hologic Incorporations, and Laerdal Medical
Corporations.
Market
Segment:
Component
Outlook (Revenue, USD Million, 2014 - 2025)
• Hardware
• Software
• Service
Technology
Outlook (Revenue, USD Million, 2014 - 2025)
• Augmented Reality
• Surgical Application
• Rehabilitation
• Training & Medical Education
• Virtual Reality
• Simulation
• Diagnostics
• Virtual Reality Exposure Therapy
• Rehabilitation
• Pain Distraction
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• South Africa
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