Augmented Reality in Healthcare Market– Overview
The growth of this market would depend on various factors, including the hike in investment for research and development area, initiatives taken by governments and private bodies, rise in the demand for telemedicine, better app support, growing digitalization, and others. However, the market is yet to reach a substantial potential as several aspects of it are still to be explored.
The Augmented Reality in Healthcare Industry is forecasted to expand at a CAGR of 23% approximately while earning revenues worth USD 1.32 billion by 2023.
Augmented reality or AR, simply put, is the interactive experience of the real-world experience where objects which reside in the real-world are generally augmented via perceptual information that is computer-generated, at times, across various sensory modalities such as olfactory, somatosensory, haptic, auditory, and visual. Owing to its alluring features and various benefits, augmented reality has various applications, including medical training and education, fitness management, and others.
Segmental Analysis
The MRFR report offers an inclusive segmental analysis of the global augmented reality in healthcare market report based on application, device type, and component.
By component, the global augmented reality in healthcare market is segmented into software, hardware, and others. The hardware component is again segmented into cameras, position tracker, displays and projections, sensors, and others. Of these, the hardware segment will lead the market over the forecast period.
By device type, the global augmented reality in healthcare market is segmented into a handheld device, head-mounted display, and others.
Based on application, the augmented reality in healthcare market has been segmented into medical training and education, fitness management, and others.
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Detailed Regional Analysis
Based on the region, the augmented reality in healthcare market report covers the recent trends & growth opportunities across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, North America will lead the market over the forecast period for burgeoning demand for medical services through which patients get treated, technological advances in augmented reality, burgeoning demand for augmented reality, and increasing awareness among people.
The augmented reality in healthcare market in Europe is predicted to possess the second-largest share over the forecast period. The increasing use of sensors in healthcare, technological advances in healthcare, and the presence of top companies in the region are adding market growth.
The market of augmented reality in healthcare in the Asia Pacific region is likely to develop at a quick pace for improvement in healthcare infrastructure and rapid economic development.
The market of augmented reality in healthcare in the MEA is predicted to have sound growth over the forecast period.
Competitive Analysis
The enrichment in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The gaps in the market are filled due to the execution of proper supply chain strategies. The chief success factors and players’ predilections are consistently growing by the strategies being used by market contenders. The progress of the market is based on the drivers that are radically altering the market backdrop. The growth patterns are modified in tandem to the customer preferences to achieve maximum growth, and in the long run, profitability. Besides, the introduction of new products and services will add additional impetus to the market progress. The situation for growth plans has stimulated the market for potential new entrants.
The noteworthy contenders in the market comprises of Microsoft Corporation (U.S.), DAQRI (U.S.), Mindmaze (Switzerland), Wikitude GmbH (Austria), Atheer (U.S.), Medical Realities (U.K), 3D Systems (U.S.), Augmedix (U.S.), Oculus VR (U.S.), Google LLC. (U.S.), CAE Healthcare (U.S.), Philips Healthcare (Netherlands & U.S.), Blippar (U.K), Siemens Healthineers (Germany), HTC (Taiwan), Osterhout Design Group (U.S.), VirtaMed (Switzerland), Magic Leap, Inc. (U.S.) and Virtually Better (U.S.) among others.
Industry Updates:
Sep 2018 Purdue University researchers have adopted a unique method that permits qualified surgeons and physicians around the world to assist less-experienced doctors in natural disasters, war zones, and in rural areas to carry out complicated procedures.
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