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 : August, 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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.