The report "Augmented and Virtual Reality in Healthcare Market by Offering (Hardware and Software), Device Type, End User, Application (Patient Care Management, Medical Training & Education, Pharmacy Management, Surgery), and Geography – Global Forecast to 2025", is expected grow from USD 0.8 billion in 2017 to USD 6.5 billion by 2025, at a CAGR of 30.7% between 2017 and 2025. The increasing penetration of connected devices in the healthcare sector, increased investment in the AR and VR healthcare, and the growing need to reduce the healthcare cost are the major drivers for the augmented reality in healthcare and virtual reality in healthcare market.
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Browse 60 market data Tables and 38 Figures spread through 144 Pages and in-depth TOC on "Augmented and Virtual Reality in Healthcare Market – Global Forecast to 2025"
Hardware to witness higher growth during the forecast period
AR
and VR require several hardware components such as sensors,
semiconductor components, displays & projectors, position trackers,
and cameras. Sensors used in handheld display devices such as
smartphones and tablets play an important role in the AR market. Global
positioning system (GPS) and compass are used in mobile phones for route
navigation. Camera has been an integral part of the AR market and is
expected to provide optimum benefit to smartphone users in the near
future. These components will drive the growth of hardware of AR and VR
in healthcare during the forecast period.
Head-up displays to grow at higher CAGR during the forecast period
HMDs
with respect to out-of-hospital-care and emergency medical services can
be used to help casualties in mass accidents and disaster medicine.
HMDs are expected to grow at a high rate in virtual reality in
healthcare market owing to its widespread adoption in the healthcare
industry. Major use cases of AR and VR head-mounted displays in
healthcare include pre-hospital medical care, nursing care in clinical
environments, and medical treatment in hospitals. Also, the use of AR
smart glasses is expected to grow at a high rate to boost the augmented
reality in healthcare market. The European scientists are in process of
developing AR HMDs to improve the efficiency of surgical processes. The
Video Optical See-Through Augmented Reality Surgical System (VOSTARS), a
medical visor, is an HMD that would ease the superimposing of patient’s
X-ray images in 3D unison with their anatomy.
Surgery application to witness high growth during the forecast period
Medical
practitioners and patients are aware of the importance of precision in
surgical procedures. Augmented reality surgery—a surgical training
tool—uses technology that superimposes a computer-generated image on a
surgeon’s view of the operative field. It provides a composite view of
the patient’s internal organs with a computer-generated overlay that
enhances the operative experience of the surgeon. Training surgeons on
specific surgical procedures is hard and expensive. The high growth of
the surgery application is due to the advantages of the AR and VR
technologies used during the operational procedures. The use of AR and
VR can help surgeons to perform surgeries more efficiently.
AR and VR market for healthcare in APAC is expected to grow at the fastest rate during the forecast period
Being
an emerging economy, APAC is witnessing major changes pertaining to the
adoption of new technologies and advancements. The region also
witnesses an increasing adoption of the latest technologies due to the
presence of most of the electronics and display panel manufacturers in
the region. Fitness management, patient care management, and pharmacy
management are expected to contribute substantially to the growth of the
AR and VR in healthcare market in APAC. These applications offer a huge
potential for the AR and VR in healthcare market players to grow due to
the increasing awareness among healthcare providers and the rising
adoption of new technologies in various industries— especially in
countries such as Japan, China, India, and South Korea. The increasing
number of players in the region would boost the growth of the AR and VR
in healthcare market.
Key Market Players
Major
players in the market for augmented reality in healthcare and virtual
reality in healthcare are Google (US), Microsoft (US), DAQRI (US),
Psious (Spain), Mindmaze (Switzerland), Firsthand Technology (US),
Medical Realities (UK), Atheer (US), Augmedix (US), and Oculus VR (US).
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