Surging penetration of connected devices and the growing prevalence of chronic diseases is expected to drive the demand for global AR-VR in healthcare market in forecast period.
According to TechSci Research report, “Global AR-VR in Healthcare Market By Component (Hardware, Software), By Hardware (Sensors (Accelerometer, Proximity Sensors, Others), Processors & ICs, Display and Projector, Position Tracker, Cameras, Others), By 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, Competition Forecast & Opportunities, 2026”, the global AR-VR in healthcare market is expected to witness significant CAGR growth in the forecast period, 2022-2026. Augmented technology is a technology to provides an interactive experience to consumers by enhancing the real world with the use of digital visual elements and other sensor stimuli provided via technology. Virtual reality creates an alternative reality by using technology that is entirely different from the real world. The adoption of these technologies in the healthcare industry is revolutionizing the treatment and services are provided to the patients. The use of virtual reality technology to provide post-traumatic stress treatment to the patients by immersing them in the traumatic situation and let them find a way to overcome the situation is considered an effective treatment technique. The creation of an interactive environment by using virtual reality technology to provide medications and relaxation to patients suffering from anxiety, depression, and phobia treatment. The use of augmented reality to layer over the map to aid patients find the healthcare facilities, pharmacies, and medical centers in case of emergencies is contributing to the surge in the AR-VR in healthcare market growth. The use of AR-VR in healthcare can help the healthcare professionals to explain the benefits of operating which can surely help the patients to cope up during complex treatment operations.
Since the outbreak of the COVID-19 pandemic, people have started opting for remote consultations and treatment to follow the social distancing guidelines and curb the spread of coronavirus across the globe. The adoption of telehealth services during this time witnessed growth. The use of AR-VR technology is used for the process of self-diagnostics in remote areas where there is high adoption of telemedicine services. Using the technology, it can be determined if the patient had to visit the healthcare facilities or can be treated at home.
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Global AR-VR in healthcare market is segmented into component, device type, application, end-use, regional distribution, and company. Based on the end use, the market can be divided into hospitals & clinics, clinical research centers, pharmaceuticals, and diagnostic labs. The hospitals & clinics segment is expected to account for a major market share in the forecast period, 2022-2026. The presence of specialized treatment centers and trained healthcare professionals in the hospitals & clinics are attracting patients to visit them for quality and effective treatment. Based on the application, the market can be divided into patient care management, medical training, surgery planning, pharmacy management, and others. The patient care management segment is expected to dominate the market in the next five years. The use of AR and VR in rehabilitation including stroke, brain injury, and physical therapy to provide effective treatment to patients is contributing to boost the growth of the market.
Google LLC, Microsoft Corporation, Philips Healthcare, Psico Smart Apps, S.L, Medical Realities Ltd., Samsung Electronics, Firsthand Technology, Inc., Augmedics Ltd, 3D Systems, Inc., HTC Corporation, Siemens AG, Atheer, Inc., MindMaze, Inc., EchoPixel, Inc., Osso VR, Inc are the leading players operating in global AR-VR in healthcare market. Service Providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several AR-VR in healthcare provider is coming up with their technologically advanced offerings.
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“The growing demand for minimally invasive treatment and surgeries to ensure faster recovery and the use of augmented reality technology for technological innovations to reduce the complexity of diseases and surgeries is expected to create lucrative opportunities for the global AR-VR in healthcare market growth in the forecast period. The use of devices including head-mounted displays, smart glasses along with the growing reduction in their prices is enabling the healthcare institutions and patients to ensure quality care. Increasing demand for effective treatment services and the rise in the number of public and private investments along with the ongoing research and development activities is expected to propel the global AR-VR in healthcare market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
According to TechSci Research report “Global AR-VR in Healthcare Market By Component (Hardware, Software), By Hardware (Sensors (Accelerometer, Proximity Sensors, Others), Processors & ICs, Display and Projector, Position Tracker, Cameras, Others), By 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, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of global AR-VR in healthcare market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global AR-VR in healthcare market.
