9th October 2019 – The global augmented
reality (AR) & virtual reality (VR) in healthcare market size is
expected to value at USD 5.1 billion by 2025. The augmented reality (AR) &
virtual reality (VR) in healthcare industry is subject to witness a substantial
growth due to the growing implementation of augmented reality (AR) and virtual
reality (VR) in healthcare sector, increasing focus towards development of
latest technologies, and recent infrastructural activities in healthcare
sector.
Factors responsible for sustained market
growth in the last few years include increasing focus on surgical simulations,
diagnostic imaging, patient care management, rehabilitation, and pain
management. Globally, the augmented reality & virtual reality in healthcare
market is predicted to grow at CAGR of 29.1% in forecast period providing
numerous opportunities for market players to invest in research and development
in the augmented reality (AR) & virtual reality (VR) in healthcare
industry.
Increasing adoption of advanced
technologies such as augmented reality (AR) & virtual reality (VR) are
expected to revolutionize the healthcare sector due to their vast set of
applications such as virtual training exercises for surgeons during complex
surgeries, 3-D OPDs simulations, phobia buster in mental health treatment, and
chronic pain management.
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Virtual reality (VR) technology is
widely adopted in Eye Movement Desensitization and Reprocessing (EMDR) therapy.
Additionally, virtual reality (VR) technology aids in treatments such as autism
therapy, depression therapy, cancer therapy and rehabilitation. Virtual reality
(VR) technology based organ prototypes helps surgeons by preparing them for
highly-sensitive and complex set of operations that require high accuracy,
lessened complications and minimum trauma cases.
Growing popularity of augmented reality
(AR) as a training and education tool is expected to widen the market reach in
forecast period. Additionally, increasing use of augmented reality based apps
include enhanced care for patients across the globe. Inception of highly
advanced technology solutions such as vein visualization technology, which is
implemented on a handheld scanner, helps healthcare professional, doctors and
nurses to identify veins and valves accurately in time constrained environment
to reduce pain during surgical procedures.
Various augmented reality (AR) android
& iOS apps helps healthcare in aftercare of patients and aids elderly
people to administer their medications intake. The rise in adoption of
augmented reality (AR) & virtual reality (VR) is not only allows better
patient care management but also offers real-time services, thus expanding
market reach in the forecast period.
Augmented reality (AR) market segment
has witness substantial growth over the forecast period owing to factors such
as increasing preference toward AR as a training and education tool by
healthcare professionals. Recent technological advancement and growing
infrastructural activities in healthcare sector has paved way for increasing
demand for augmented reality (AR) in healthcare IT industry.
Other factors attributing to the growth
of AR market segment are assistance in patient care & management services,
and medical imaging along with head-mounted displays. Growing popularity of
augmented reality (AR) in fitness management due to development of numerous
AR-based wellness and fitness apps, are transforming the fitness sector.
The augmented reality (AR) & virtual
reality (VR) in healthcare market is divided by region such as North America,
Europe, Asia-Pacific, Latin America and Africa. North America has shown major
growth in recent years owing to the rise in the adoption of latest technologies
in medicine and pharmaceutical sector, growing prevalence of neurological &
psychological disorders, and existence of well-established healthcare
infrastructure. Asia-Pacific region is predicted to hold major market share in
the augmented reality & virtual reality in healthcare industry with massive
growth in forecast period.
Countries such as India, China and
Singapore are leading the Asia-Pacific market with rise in the prevalence of
chronic diseases, and increase in number of internet & smartphone users,
rise in government initiatives for adoption of digital & advanced
technologies and significant investment by leading industry players considering
potential growth opportunities in the region.
The key players in the augmented reality
(AR) & virtual reality (VR) in healthcare market are Intuitive Surgical,
Inc., CAE Healthcare Pvt. Ltd., 3D Systems Incorporations, Hologic
Incorporations, and Laerdal Medical Corporations.
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