AR-VR In Healthcare Market To Register 22.50% CAGR Value During Forecast
Global AR-VR In Healthcare Market expands with advancing
technologies in the healthcare systems.
According
to TechSci Research report, “AR-VR In Healthcare Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027”, Global
AR-VR in the healthcare market may reach a market value of USD9796.29 million
by 2027, meanwhile growing with a CAGR of 22.50% during the forecast period.
Increasing adoption of the technologically advanced products and services in
the healthcare and patient care services is anticipated to drive the growth of
the global AR-VR in healthcare market in the upcoming five years. Growing
adaptation of AR & VR technologies for educational and training purposes
also supports the growth of the global AR-VR in the healthcare market in the
next five years. Augmented reality and virtual reality technologies provide
high-quality support to doctors and medical professionals in patient care. AR
is used to educate patients about the treatment process and their care. Moreover, patients
can use virtual reality to treat depression, phobias, and anxiety. They can use
virtual reality to relax and meditate safely, thereby aiding the growth of the
global AR-VR in the healthcare market in the future five years. Virtual reality
technology also has applications in pain management, physical therapy, medical
training, and assisting people with low vision.
With
the introduction of technology for virtual training of surgeons to intricate
procedures such as phobia buster in mental health treatment, 3D operating room
simulations, and chronic pain management, the utilization of AR and VR in the
healthcare industry has evolved. It has since substantiated the growth of the
global AR-VR in the healthcare market in the forecast years through 2027.
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The
global AR-VR in healthcare market is segmented by component, device type,
application, end use, regional distribution, and competition analysis. Based on
component, the market is differentiated between hardware and software. The
hardware segment includes accelerometer, proximity sensors, and other types of
sensors, along with processors & ICs, display & projector, position
tracker, cameras, and others. Hardware segment is anticipated to hold the
largest revenue shares of the market and dominate the market segment in the
upcoming five years on the account of increasing demand for the technologically
advanced products available to facilitate the AR & VR technologies in the
healthcare systems and devices. Software includes software development kits and
cloud based services. Cloud based services are anticipated to lead the software
segment in the upcoming five years due to surge in the demands for the services
and increasing dependency over internet based services to store data and other
information.
Based
on device type, the market is differentiated into AR devices and VR devices. AR
devices include head mounted display and handheld devices. VR devices include
head mounted display, gesture tracking devices, and projectors & display
walls. By application, the market is fragmented into patient care management,
medical training, surgery planning, pharmacy management, and others. Based on
end user, the market is bifurcated into hospitals & clinics, clinical
research centers, pharmaceuticals, and diagnostic labs.
Some
of the market players, dominating the global AR-VR in healthcare market are :
·
Medical
Realities Ltd.
·
Koninklijke
Philips N.V.
·
Alphabet
Inc.
·
Firsthand
Technology Inc.
·
Augmedics
Ltd.
·
3D
Systems Corporation
·
HTC
Corporation
·
Samsung
Electronics Co., Ltd.
·
Microsoft
Corporation
·
HP
Inc.
·
Carl
Zeiss Meditec AG
·
MindMaze,
Inc.
·
Siemens
Healthineers AG
·
Osso
VR, Inc.
·
EchoPixel,
Inc.
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“North America region is anticipated to
hold the largest revenue shares of the market and dominate the market segment
in the upcoming five years due to the presence of large economies like the
United States, Canada, etc. These economies in the region have been quick
towards adapting the technologies and advanced techniques. Increasing demand
for the diagnostics and treatment technologies incorporated with augmented
reality and virtual reality is also supporting the growth of the global AR-VR
in the healthcare market in the future five years. Rising investments in the
healthcare industry and supportive tax incentives and favorable schemes further
substantiate the growth of the global AR-VR in the healthcare market in the
next five years,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“AR-VR In Healthcare Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Component
(Hardware {Sensors [Accelerometer, Proximity Sensors, Others], Processors &
ICs, Display & Projector, Position Tracker, Cameras, Others}, Software
{Software Development Kits, Cloud Based Services}), By Device Type (AR Devices
{Head Mounted Display, Handheld Devices}, VR Devices {Head Mounted Display,
Gesture Tracking Devices, Projectors & Display Walls}), By Application
(Patient Care Management, Medical Training, Surgery Planning, Pharmacy
Management, Others), By End Use (Hospitals & Clinics, Clinical Research
Centers, Pharmaceuticals, Diagnostic Labs), By Region”, has evaluated the future
growth potential of global AR-VR in healthcare and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers to
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global AR-VR in healthcare market.
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