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Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Industry Market Dynamics & Strategic Insights 2021-2030
Augmented reality technology is used to integrate digital information with the environment in real-time; whereas virtual reality is the representation of an artificial environment using sensors, cameras, and software. The high adoption of these two technologies in the healthcare sector is changing the way patients are diagnosed and treated.
Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market іѕ ѕеgmеntеd on the bаѕіѕ оf Component (Hardware, Software, and Services) Application (Surgery, Fitness Management, Patient Care, Management, Pharmacy Management, Medical Training and Education, and Others) End-User (Hospitals, clinics, and surgical centers, Research organizations, Pharma companies, Government, and Others) and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market wаѕ vаluеd аt UЅD 845.3 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 36.4 % frоm 2021 tо 2030.
The report on Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global Augmented Reality (AR) and Virtual Reality (VR) in the Healthcare Market.
Market Dynamics:
The rising adoption of technologically advanced products and devices and rapid development in the healthcare sector and are major factors driving the growth of the global augmented reality (AR) and virtual reality (VR) in the healthcare market. Also, increasing penetration of the internet of things (IoT) and the rising adoption of connected devices are other factors fueling the growth of the global market. Moreover, the use of augmented and virtual reality for medical training and learning by various institutions and universities is another factor further driving the growth of the global market.
The high cost of products and devices is a major factor restraining the growth of the global augmented reality (AR) and virtual reality (VR) in the healthcare market. Also, lack of skilled professionals, data security, and privacy concerns are other factors expected to hamper the growth of the global market to a certain extent over the forecast period.
Segmental Analysis:
Among the component segments, the hardware segment is accounted for a major revenue share and is expected to maintain its dominance in the global market. This is attributed to desktops, head-mounted display, and other display devices are of particular importance while using these technologies. Display devices are of great significance since the audio-visual simulation is a key component to create virtual and augmented reality. Head-mounted displays are gaining importance due to their applications in education, simulation, visualized data, video recording, telemedicine, telemonitoring, and many others.
Among the application segments, the patient care management segment is projected to dominate the global market. The use of AR and VR in therapies and rehabilitation would boost the augmented reality in healthcare and virtual reality in the healthcare market. The rehabilitation includes brain injury, stroke, and physical therapy among other applications.
Among the end-user segment, the hospitals, clinics, and surgical centers segment are expected to dominate the target market, due to the increasing number of patients with chronic diseases and the growing need for improved patient outcomes.
Regional Analysis:
North America accounts for the highest share in the global augmented reality (AR) and virtual reality (VR) in the healthcare market in terms of revenue and is expected to maintain its position over the forecast period. Increasing government and private funding towards the development of these technologies, the presence of major manufacturers and vendors in this region, and early adoption of this technology are major factors driving the growth of North America augmented reality (AR) and virtual reality (VR) in the healthcare market. Europe augmented reality (AR) and virtual reality (VR) in the healthcare market account for the second-highest revenue share in the global market and is expected to witness considerable growth over the next 10 years. The Asia Pacific augmented reality (AR) and virtual reality (VR) in the healthcare market are expected to witness to register the highest CAGR over the next 10 years.
Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Segmentation:
Segmentation by Component:
• Hardware
• Software
• Services
Segmentation by Application:
• Surgery
• Fitness Management
• Patient Care Management
• Pharmacy Management
• Medical Training and Education
• Others
Segmentation by End-User:
• Hospitals, clinics, and surgical centers
• Research organizations
• Pharma companies
• Government
• Others
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
Orca Health Inc.
Brain Power LLC
EchoPixel Inc.
MindMaze
First Hand Technology Inc.
Medical Realities Ltd.
zSpace Inc.
Microsoft Corporation
Alphabet Inc.
Magic Leap Inc.
Osterhout Design Group Inc.
Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market іѕ ѕеgmеntеd on the bаѕіѕ оf Component (Hardware, Software, and Services) Application (Surgery, Fitness Management, Patient Care, Management, Pharmacy Management, Medical Training and Education, and Others) End-User (Hospitals, clinics, and surgical centers, Research organizations, Pharma companies, Government, and Others) and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
The Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market wаѕ vаluеd аt UЅD 845.3 Мn іn 2020 іѕ рrојесtеd tо іnсrеаѕе ѕіgnіfісаntlу аt а САGR оf 36.4 % frоm 2021 tо 2030.
The report on Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market which оffеrѕ іn-dерth аnаlуѕіѕ оn mаrkеt drіvеrѕ, rеѕtrаіntѕ, орроrtunіtіеѕ, trеndѕ, and other important information regarding the Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market. This rероrt іnсludеs quаlіtаtіvе іnfоrmаtіоn and quаntіtаtіvе аnаlуѕіѕ оf vаrіоuѕ ѕеgmеntѕ іn tеrmѕ оf mаrkеt ѕhаrе, grоwth, орроrtunіtу аnаlуѕіѕ, mаrkеt value, еtс. fоr thе fоrесаѕt уеаrѕ. The report offers detailed information regarding the various key players operating in the Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market, their financials, key developments, supply chain trends, technological innovations, apart from future strategies, acquisitions & mergers, market footprint, and COVID-19 Analysis. This report is based on analysis, synthesis, and interpretation of the information gathered regarding the Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market from various sources. We analyzed the data and information and gained insights using primary and secondary research efforts with the primary objective to provide a holistic view of the Global Augmented Reality (AR) and Virtual Reality (VR) in the Healthcare Market.
Market Dynamics:
The rising adoption of technologically advanced products and devices and rapid development in the healthcare sector and are major factors driving the growth of the global augmented reality (AR) and virtual reality (VR) in the healthcare market. Also, increasing penetration of the internet of things (IoT) and the rising adoption of connected devices are other factors fueling the growth of the global market. Moreover, the use of augmented and virtual reality for medical training and learning by various institutions and universities is another factor further driving the growth of the global market.
The high cost of products and devices is a major factor restraining the growth of the global augmented reality (AR) and virtual reality (VR) in the healthcare market. Also, lack of skilled professionals, data security, and privacy concerns are other factors expected to hamper the growth of the global market to a certain extent over the forecast period.
Segmental Analysis:
Among the component segments, the hardware segment is accounted for a major revenue share and is expected to maintain its dominance in the global market. This is attributed to desktops, head-mounted display, and other display devices are of particular importance while using these technologies. Display devices are of great significance since the audio-visual simulation is a key component to create virtual and augmented reality. Head-mounted displays are gaining importance due to their applications in education, simulation, visualized data, video recording, telemedicine, telemonitoring, and many others.
Among the application segments, the patient care management segment is projected to dominate the global market. The use of AR and VR in therapies and rehabilitation would boost the augmented reality in healthcare and virtual reality in the healthcare market. The rehabilitation includes brain injury, stroke, and physical therapy among other applications.
Among the end-user segment, the hospitals, clinics, and surgical centers segment are expected to dominate the target market, due to the increasing number of patients with chronic diseases and the growing need for improved patient outcomes.
Regional Analysis:
North America accounts for the highest share in the global augmented reality (AR) and virtual reality (VR) in the healthcare market in terms of revenue and is expected to maintain its position over the forecast period. Increasing government and private funding towards the development of these technologies, the presence of major manufacturers and vendors in this region, and early adoption of this technology are major factors driving the growth of North America augmented reality (AR) and virtual reality (VR) in the healthcare market. Europe augmented reality (AR) and virtual reality (VR) in the healthcare market account for the second-highest revenue share in the global market and is expected to witness considerable growth over the next 10 years. The Asia Pacific augmented reality (AR) and virtual reality (VR) in the healthcare market are expected to witness to register the highest CAGR over the next 10 years.
Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Segmentation:
Segmentation by Component:
• Hardware
• Software
• Services
Segmentation by Application:
• Surgery
• Fitness Management
• Patient Care Management
• Pharmacy Management
• Medical Training and Education
• Others
Segmentation by End-User:
• Hospitals, clinics, and surgical centers
• Research organizations
• Pharma companies
• Government
• Others
Segmentation by region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players:
Orca Health Inc.
Brain Power LLC
EchoPixel Inc.
MindMaze
First Hand Technology Inc.
Medical Realities Ltd.
zSpace Inc.
Microsoft Corporation
Alphabet Inc.
Magic Leap Inc.
Osterhout Design Group Inc.
Scope:
| Report Data | Market |
| Forecast 2022 | XX million/billion (2022-2032) |
| CAGR 2022 - 2032 | % |
| Analysis Period | 2022 - 2032 |
| Base Year | 2021 |
| Forecast Data | 2022 - 2032 |
| Segments Covered | By Type, By Application, And by Regions |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | . |
| Key Segments | By Type By Applications |
| Report Coverage | Market Drivers, Market Trends, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Frequently Asked Questions
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The current market value for is expected USD XX million/billion by 2022.
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The is to grow at a CAGR of 5.3% during the forecast by 2032.
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On the basis of type, the is segmented into Types.
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