Augmented and Virtual Reality in Healthcare Market: Summary
The Global Augmented and Virtual Reality in Healthcare Market is projected to reach a value of USD 7213.73 million by 2027 at a CAGR of 31.4%.
The augmented reality is the real time of information in the form of text, audio, graphics as well as the virtual enhancements integrated with real-world objects. Whereas, the virtual reality is the use of computer technology to create a simulated environment. It use in the healthcare to enhance the patient experience, psychological relief and treatment, data visualization and for advanced diagnostics. Global augmented and virtual reality in healthcare market is rising with the growing penetration of Internet of things (IoT). However, the huge cost of products and devices are anticipated to hamper the growth of the market.
Augmented and Virtual Reality in Healthcare Market: Market Dynamics
- Increasing Investments and Funding in Healthcare
- There has been increasing investments and funding in healthcare is play a significant role for the augmented and virtual reality in healthcare market.
- The LENSAR system, has developed by LENSAR, Inc. which is argumented reality (AR) featured laser technology that has been used for performing precise as well as accurate cataract surgeries. However, the company has raised more than USD 70 million from investors which includes Aisling Capital, Florida Growth Fund, Florida Opportunity Fund, Oxford Finance Corporation, and PDL Biopharma.
- Furthermore, the MindMaze, which is a Swiss-based start-up, has raised also USD 100 million from the multinational conglomerate, Hinduja Group, for the growth of the Virtual reality hardware and software for the purpose to provide the clinical treatments for the stroke patients.
- The US government is making significant investments in these technologies to get the objective of cost saving and provide start-ups & small enterprises with business growth in this industry.
- With the growing in number of startups has also led to create an opportunities for investments to fund development of AR & VR technologies.
- In October 2018, the Digital Health Technology Catalyst programme has permit USD 582,033 to partnership in between the University of Chester and Countess of Chester Hospital to work on a VR project for the helping stroke patient practice.
- Increasing Adoption of Connected Devices
- Increasing Integration of Technology & Digitalization in Healthcare
- Lack of Skilled Professionals
Augmented and Virtual Reality in Healthcare Market: Key Segments
The augmented and virtual reality in healthcare market is majorly segmented into component, technology, application and end-user.
- On the basis of component, the market is bifurcated into hardware, software and services. The hardware segment is expected to get the highest share growth in the forecast period. The devices such as desktops and head-mounted display is majorly important while using these technology.
- On the basis of technology, the market is sub segmented into augmented reality and virtual reality. The AR is projected to get the highest growth, as it broad applications as well as has helps to bring a significant changes to the healthcare sector. For example, it helps to provide assistance in the surgeries, patient care, and supporting in medical training.
- On the basis of application, the market is divided into fitness management, patient care management, surgery, medical training and education and others.
- On the basis of end-user, the market is sub segmented into hospitals and surgical centers, research and diagnostics laboratories, research organizations, government and defense institutions and others.
Augmented and Virtual Reality in Healthcare Market: Key Regions
On the basis of region, the market is divided into America, Europe, Asia Pacific, and Middle East & Africa. America accounted for the major market share with the growing adoption of new technology and sophisticated infrastructure. However, Asia-Pacific is projected grow at the fastest growth rate, with growing number of Internet and smartphone users using AR applications. Also, with the growing initiatives by the government for the adoption of the emerging technologies is projected to fuel the growth of the market in the forecast period.
Augmented and Virtual Reality in Healthcare Market: Report Scope
The report on the augmented and virtual reality in healthcare market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
2020-2027 (2020 estimated year, forecast up to 2027)
Value (USD Million)
Component, Technology, Application and End-User
Americas, Asia-Pacific, Europe, Middle East & Africa
Key Companies Covered
- 3D Systems, Inc (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)
- Atheer, Inc
- Augmedix, Inc.
- CAE Healthcare
- General Electric
- Medical Realities Ltd
- Other Key Companies
Augmented and Virtual Reality in Healthcare Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Augmented and Virtual Reality in Healthcare Market, by Component
- Software Development Kits
- Cloud-Based Services
Augmented and Virtual Reality in Healthcare Market, by Technology
- Augmented Reality
- Training & Medical Education
- Surgical Application
- Virtual Reality
- Virtual Reality Exposure Therapy
Augmented and Virtual Reality in Healthcare Market, by Application
- Fitness Management
- Patient Care Management
- Medical Training and Education
Augmented and Virtual Reality in Healthcare Market, by End-User
- Hospitals and Surgical Centers
- Research and Diagnostics Laboratories
- Research Organizations
- Government and Defense Institutions
Augmented and Virtual Reality in Healthcare Market, by Region
- North America
- Latin America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Augmented and Virtual Reality in Healthcare Market Providers
- Augmented and Virtual Reality in Healthcare Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Augmented and Virtual Reality in Healthcare Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Augmented and Virtual Reality in Healthcare Market STUDY