Augmented and Virtual Reality in Healthcare Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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Augmented and Virtual Reality in Healthcare Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Status : October, 2020 | Healthcare IT | PPT format

Report Digest


Global Augmented and Virtual Reality in Healthcare Market : Overview

Technological progress over the years have brought about a sea-change in the way in which patients are diagnosed and treated. They have also helped in improving the training procedure of medical practitioners. While CT scans and wearable technology are some of the new technologies that have already redefined the medical landscape, the futuristic technologies of augmented reality (AR) and virtual reality (VR) are well on their way to bring about further seismic shift in the domain.

Put simply, augmented reality (AR) helps display real-time digital information and media, such as videos and 3D models, leveraging the camera view of smartphones, PCs, and tablets, or using wearable tech, namely wearable glasses and viewfinder. Virtual reality (VR), on the hand, builds a 3D world completely detaching the user from reality.

Global Augmented and Virtual Reality in Healthcare Market : Key Trends

Augmented reality in healthcare already is seeing many applications in terms of providing real-time data and assistance in complex surgical procedures, to supporting aftercare and administration. Minimally invasive surgeries, which are becoming immensely popular these days, can be bettered through virtual and augmented reality enlarged 3D version of vital organs. They also help carry out complex surgeries seamlessly.

They also have had left a mark in curing blindness. Take for example NuEyes, electronic glasses meant for low vision. It is a wearable technology that makes it possible for the visually impaired people to see again while keeping their hands free.

However, scientists are said to be still scratching the surface of virtual reality and augmented reality in the healthcare sector since the whole potential of such futuristic technologies is yet to be fully exploited. Once, even half of that is achieved half of the health issues will be history.

Global Augmented and Virtual Reality in Healthcare Market : Market Potential

Big names in the tech world such as Apple and Google are already in the race to capture the multi-trillion dollars’ worth healthcare industry by buying out or collaborating with health tech companies. They are also further improving the underlying technologies for smart glasses and various other personal mobile diagnostic devices such as blood glucose monitors. At the World Economic Forum held in January 2017, in Davos, multinational-tech company SAP CEO talked of personalized, precision medicine through technology that will become the future of the healthcare industry.

Global Augmented and Virtual Reality in Healthcare Market : Regional Outlook

From a geographical standpoint, North America is a leader in the global augmented and virtual reality in healthcare. This is primarily on account of the fact that the nations of the U.S. and Canada are developed and technologically advanced and are lapping up cutting-edge technologies in healthcare. Apart from that, presence of numerous prominent companies involved in developing AR and VR for the healthcare applications in the region, along with a superior healthcare infrastructure, helpful reimbursement policies, and higher average per capita healthcare spends is also benefitting the market in North America.

Global Augmented and Virtual Reality in Healthcare Market: Competitive Analysis

Some of the prominent companies in the augmented and virtual reality in healthcare market are Google, Microsoft, DAQRI, Psious, Mindmaze, Firsthand Technology, Medical Realities, Atheer, Augmedix, and Oculus VR.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?