Global Augmented Reality in Healthcare Market : Industry Analysis and Forecast (2019-2027) – By Component, Device Type, Application, and Region.
Global Augmented Reality in Healthcare Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of 30.10 % during a forecast period.
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Augmented reality is used in healthcare facilities across the globe for applications like vein visualization, surgical visualization, and education. The Forward-thinking healthcare providers are investigating the potential benefits of AR to their customers and business to form the global footprint. The hardware and software developments have reduced the cost of augmented reality and improve the experience of the patients.
Global Augmented Reality in Healthcare Market, Dynamics:
Some of the technological advancements from CT Scans to wearable technology have fundamentally changed the way of diagnosis and treatment in the healthcare sector. The augmented reality in healthcare has wide-reaching implications, which will transform the medical sector. AR technology helps to deliver real-time data and assistance during complicated surgical procedures. AR technology can also assist to improve the management of a patient’s aftercare.
The global augmented reality in the healthcare market is expected to grow at an exponential rate during the forecast period because of the high private investments and funding. Various governments are also funding programs, which are expected to boost the adoption of AR technologies in healthcare. The rise in the adoption of innovative technologies, which are expected to provide revolutionary solutions for better care management and real-time care services are expected to boost the growth of the global augmented reality in the healthcare market during the forecast period. On the other hand, high initial cost and lack of awareness are expected to limit the global augmented reality in healthcare market growth.
Global Augmented Reality in Healthcare Market, Segment Analysis:
The Head-Mounted display is expected to contribute XX% share in the global augmented reality in the healthcare market. The augmented reality delivers assistance in the surgeries, and helps in medical training & education, patient care & management, and medical imaging with the assistance of head-mounted displays. Surgeons are using heads-up display to provide a data overlay on the patient’s body during surgery or to visualize the entire procedure during pre-surgical planning. The heads-up display permits the user to see both real and projected objects and data at the same time. AR is beginning to provide clinicians with the ability to project medical images like CT scans, directly onto the patient and in alignment with the patient’s body. The Head-mounted displays are gaining importance because of their applications in education, simulation, visualized data, video recording, telemedicine, telemonitoring, and many others.
Augmented reality is the use of displays, cameras, and sensors to cover digital information onto the real world. The hardware segment held more than 60% share in the global augmented reality in the healthcare market. The hardware devices like desktops, head-mounted display, and other display devices have a particular importance while using AR technologies.
AR uses various technologies like sensors, simulators, and transparent displays to enhance quality of communication between a patient and surgeon. AR has an array of an application area like surgeries, rehabilitation, training, and medical education. Among these, the training and medical education segment is expected to grow at a XX% rate of CAGR during the forecast period. AR is a useful technology for training and education. AR-based devices are assisting doctors to perform complicated surgeries with instructions and guidance. An increase in interest of technology-driven key players in developing apps and devices for training medical professionals is driving the growth in the global augmented reality in healthcare market.
Global Augmented Reality in Healthcare Market, Regional Analysis:
North America region is projected to be a leading region in the global augmented reality in the healthcare market. The growth in the market can be attributed to the technological advancement, prevalence of neurological & psychological disorders, adoption of innovative technologies, and the presence of sophisticated healthcare infrastructure across the region. The technological advancements in information technology and government support for the integration of AR technologies in the medical field are expected to contribute to the maximum share of the market. An increase in R&D activities in the region and the presence of prominent market key players are also contributing to the regional market growth.
Global Augmented Reality in Healthcare Market, Competitive Analysis:
Some of the prominent key players are focusing on the use of AR in several discrete areas. The usage of AR technology can speed education about conditions or treatment plans. Some of the prominent key leaders are shifting their focus from pilots and niche offerings to strategies anchored in innovative use cases and prototypes, which are designed to scale up to mass adoption. Augmedix, Inc. has partnered with Google to use Google Glass coupled with AI capabilities to perform in-the-moment, automated remote notetaking, and provide instantaneous information.
The objective of the report is to present a comprehensive analysis of the Global Augmented Reality in Healthcare Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Augmented Reality in Healthcare Market dynamics, structure by analyzing the market segments and projects the Global Augmented Reality in Healthcare Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Augmented Reality in Healthcare Market make the report investor’s guide.
Scope of the Global Augmented Reality in Healthcare Market
Global Augmented Reality in Healthcare Market, By Component
Global Augmented Reality in Healthcare Market, By Device Type
• Head-Mounted Display
• Handheld Device
Global Augmented Reality in Healthcare Market, By Application
• Fitness Management
• Medical Training & Education
Global Augmented Reality in Healthcare Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Augmented Reality in Healthcare Market
• Google LLC.
• Microsoft Corporation.
• Osterhout Design Group.
• Siemens Healthineers
• Wikitude GmbH.
• Philips Healthcare
• 3D Systems
• Magic Leap, Inc
• Virtually Better
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