Global augmented reality (AR) and virtual reality (VR) in healthcare market, By Component (Hardware, Software, Services), Technology (Augmented Reality, Virtual Reality), End-User (Hospitals, Clinics, and Surgical Centers, Research Organizations and Pharma Companies, Research and Diagnostics Laboratories, Government and Defense Institutions, Others) - Industry Trends and Forecast to 2030.
Augmented Reality (AR) and Virtual Reality (VR) In Healthcare Market Analysis and Size
Augmented and virtual reality techniques are being increasingly adopted in surgeries and diagnostics. Systems such as touch surgery use virtual reality to provide a view of the patient’s anatomy and physiology, thereby providing opportunities for surgeons in the operating room, This, in turn, is expected to augment the growth of the market for augmented reality and virtual reality in healthcare The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Data Bridge Market Research analyses that the global augmented reality (AR) and virtual reality (VR) in healthcare market which was USD 2,109 million in 2022, would rocket up to USD 41,180 million by 2030, and is expected to undergo a CAGR of 39.16% during the forecast period. This indicates the market value. Hardware segment dominates the component segment of the global augmented reality (AR) and virtual reality (VR) in healthcare market, as many uses of augmented reality and virtual reality in the healthcare involve the integration of these technologies with current medical equipment, such as surgical robots, imaging devices and patient monitoring systems. Hardware components are essential for ensuring continuous communication and performance. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Augmented Reality (AR) and Virtual Reality (VR) In Healthcare Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Hardware, Software, Services), Technology (Augmented Reality, Virtual Reality), End-User( Hospitals, Clinics, and Surgical Centers, Research Organizations and Pharma Companies, Research and Diagnostics Laboratories, Government and Defense Institutions, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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CAE (Canada), GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), Intuitive Surgical (U.S.), Siemens Ltd (Germany), Eon Reality, Inc (U.S.), Layar (U.K.), Bioflight VR (U.S.), TheraSim Inc (U.S.), Vuzix Corporation (U.S.), Radboudumc (Netherland)
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Market Opportunities
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Market Definition
In healthcare, augmented reality (AR) involves putting digital information on the real world environment, assisting medical workers in diagnoses, surgeries and patient care via contextual data and 3D visualizations. Virtual Reality (VR) on the other hand, immerses users in fully replicated digital settings which benefits healthcare through applications such as medical teaching, therapy and patient engamenent.
Global Augmented Reality (AR) and Virtual Reality (VR) In Healthcare Market Dynamics
Drivers
- Increasing in Adoption of Telemedicine and Remote Cares
The Covid-19 pandamic has pushed telemedicine adoption and AR and VR are playing critical roles in remote healthcare delivery. These technologies facilitate cirtual doctor - patient intercations, remote monitoring and therapy, consultation delivery, making healthcare accessible.
- Rise in Chronic Disease and Ageing Population
The global ageing population and rise in chronic diseases creates an increasing demand for novel healthcare solutions. AR and VR can help with eldercare, cognitive health and chronic disease management, enhancing the quality of life for the elderly and those with long term medical concerns.
Opportunities
- Increase in Demand for Medical Training and Education Purpose
AR and VR have the potential to transform medical education by providing immersive simulations for medical students, residents and healthcare professional.Surgical training, patient interface simulators and anatomy instruction are all possibilities.
Restraints/Challenges
- High Costs on Maintenance of AR and VR Hardware and Software
The development, acquisition and maintenance costs are high for software and hardware. Healthcare instituition, particularly those that are small or in resource – constrained areas, may find it difficult to justify the initial expenditure required for these technologies, which includes the cost of specialized equipement and software licences.
- Emergence of Ethical and Legal Concerns into Healthcare
The AR and VR technology become more incorporated into healthcare, ethical and legal concerns arise. Concerns include patient concent, data privacy, responsibility in the event of medical errors in a virtual environment, and the possibility of addiction or misuse of VR experiences.
This global augmented reality (AR) and virtual reality (VR) in healthcare market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the variable frequency drive market contact the Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In December 2022, Vuzix Corporation announced a new partnership with TechSee, a leader in intelligent visual assistance technology, to deliver a remote visual assistance solution to field service technicians using AR and computer vision on Vuzix M400 M4000 Smart Glasses
- On July 2021, Radboudumc and SyncVR Medical signed a collaboration agreement to boost virtual reality in healthcare. They aim to provide better care with the help of virtual reality applications, Radboudumc will collaborate intensively with startup SyncVR Medical
Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Scope
The global augmented reality (AR) and virtual reality (VR) in healthcare market is segmented on the basis of component, technology, end-user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Hardware
- Software
- Services
Technology
End-User
- Hospitals
- Clinics
- Surgical Centers
- Research Organizations
- Pharma Companies
- Research and Diagnostics Laboratories
- Government and Defense Institutions
Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Region Analysis/Insights
The global augmented reality (AR) and virtual reality (VR) in healthcare market is analyzed and market size insights and trends are provided by component, technology, end-user as referenced above.
The regions covered in the global augmented reality (AR) and virtual reality (VR) in healthcare market are North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. The countries covered in the Global augmented reality (AR) and virtual reality (VR) in healthcare market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa.
North American region is expected to have the highest demand for augmented and virtual reality in the healthcare sector due to the constant research and development activities, investments made in this technology and the initiatives taken by the government of various regions that are extremely favorable for the market. Asia Pacific region is expected to grow in order to provide better infrastructure for healthcare the governments are taking initiatives that are supportive of the growth of the market in the countries such as China, India, Brazil as well as Mexico.
The region section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The global augmented reality (AR) and virtual reality (VR) in healthcare market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global augmented reality (AR) and virtual reality (VR) in healthcare market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global augmented reality (AR) and virtual reality (VR) in healthcare market. The data is available for historic period 2015 to 2020.
Competitive Landscape and Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Share Analysis
The global augmented reality (AR) and virtual reality (VR) in healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to global augmented reality (AR) and virtual reality (VR) in healthcare market.
Some of the major players operating in the global augmented reality (AR) and virtual reality (VR) in healthcare market are:
- CAE (Canada)
- GE Healthcare (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Intuitive Surgical (U.S.)
- Siemens Ltd (Germany)
- Eon Reality, Inc (U.S.)
- Layar (U.K.)
- Bioflight VR (U.S.)
- TheraSim Inc (U.S.)
- Vuzix Corporation (U.S.)
- Radboudumc (Netherland)
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