Augmented Reality and Virtual Reality Market Opportunities and Forecast to 2023 - Key Players Analysis and Market Outlook

ReportsnReports.com adds "Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Global Outlook and Forecast 2018-2023" report to its research store.

This market research report on the healthcare augmented reality (AR) and virtual reality (VR) market offers analysis on the market size and forecast, market share, industry trends, growth drivers, and vendor analysis.

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The market study also includes insights about segmentation by applications (AR (surgeries, rehabilitation, and training and medical education) and VR (simulation, diagnostics, rehabilitation, pain distractions, and VRET)), technology (AR and VR), component (hardware and software), and geography (North America, APAC, Europe, and ROW).

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Overview

The increasing number of diabetic, HIV, and dementia patients and the high prevalence of chronic diseases around the globe are driving the expenditure in the healthcare industry. The implementation of internet analytics and IT lead innovations is fueling the development of the augmented reality and virtual reality market in the healthcare industry.

Technological innovations help improve cost-effectiveness, offer better communication between the patient and the doctor, provide easy exchange of reports, improve tracking of the patient’s health, and offer better workforce training. The increasing investments in developing digital healthcare technologies are creating new opportunities for vendors in the global AR and VR market in healthcare. The launch of innovative technology such as next-generation sequencing (NGS), 3D-printing, immunotherapy, artificial intelligence (AI), point-of-care diagnostics (POC), virtual reality (VR), augmented reality (AR), biosensors and trackers, convenient care, and telehealth will help enhance the consumer experience and offer better patient care.

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The growing demand for AR and VR technology in the healthcare market will create new opportunities for leading vendors in the market. The convenience of training and the easy transfer of information are driving the growth of augmented reality (AR) and virtual reality (VR) market in the healthcare industry. The AR and VR market in healthcare is anticipated to generate revenue of about $3,038 million in 2023, growing at an impressive CAGR of more than 31% during the forecast period.

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare Segmentation: This market research report includes a detailed segmentation of the market by applications, technology, component, and geography.

AR and VR Market in Healthcare - By Component: Introduction of innovative hardware devices to boost sales in the AR and VR market in healthcare during forecast period.

The applications segment in the global AR and VR market in healthcare consists of AR assisted surgery, AR assisted rehabilitation, AR assisted training and medical education, VR assisted simulation, VR assisted diagnostics, VR assisted rehabilitation, VR assisted pain distraction, and VR assisted virtual reality expose therapy (VRET). The AR assisted surgery segment is gaining popularity in the augmented reality (AR) and virtual reality (VR) market in healthcare growing at a CARG of more than 29% during the forecast period.

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AR assisted surgeries are complex ones without any geographical barriers to provide smooth and seamless functioning in these procedures. The increasing use of connected devices such as smartphones and tablets for enhanced guidance during surgeries will drive the growth of the AR assisted surgery in the AR and VR market in healthcare.

The AR and VR market in healthcare by geography is classified into North America, APAC, Europe, and ROW. North America dominated the global augmented reality (AR) and virtual reality (VR) market in healthcare, occupying close of half of the total market share in 2017. Rising health-conscious among population, increasing disposable income, and growing penetration of smart devices are some of the factors that can contribute to the growth of the AR and VR market in healthcare in North America. The introduction of innovative medical technologies and sophisticated medical devices and drugs will help leading vendors in North America occupy a larger market share in the AR and VR market in healthcare over next few years.

The key countries profiled in the report are: US, UK & China

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Key Vendor Analysis

The AR and VR market in healthcare is highly fragmented with the presence of several vendors offering devices at a competitive price. The infiltration of low-quality products is increasing the competition in the global AR and VR market in healthcare. The leading players are focusing on leveraging technology and brand identity to gain market share in the augmented reality and virtual reality market in healthcare. The increasing investments in R&D for the development of innovative products will create new business opportunities for prominent companies in the market. The increasing focus on emerging companies in the APAC region will help players expand their business and distribution channels to new regions.

Key market insights include

1. The analysis of the AR and VR market in healthcare provides market size and the growth rate for the forecast period 2018-2023.

2. It offers comprehensive insights about current industry trends, trend forecast, and growth drivers about the AR and VR market in healthcare.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook of AR and VR market in healthcare.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

Browse all latest healthcare market research reports at https://www.reportsnreports.com/market-research/healthcare/.

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