Augmented Reality and Virtual Market is anticipated to hit $1.4 Billion by 2023 at a CAGR of 18.02%

According to the new market research report by IndustryARC titled “Augmented Reality and Virtual Reality in Healthcare Market: By Type (Augmented & Virtual Reality); By End-User (Surgical & Rehabilitation, Training, 3D Operation Room Simulations, Simulations, Diagnostics, Virtual Reality Exposure Therapy) - By Geography – With Forecast (2018- 2023)”, the market is influenced by the large demands from emerging economies such as India and China, due to increasing investments in these countries.

Americas held the largest market share in Augmented and Virtual Reality Robotic Surgery Market

Americas held the largest market share in the Augmented Reality and Virtual Reality Robotic Surgery Market and is anticipated to reach $230.3 million by 2023 at a CAGR of 38.5%. However, the APAC region will witness the highest growth during the forecast period and is anticipated to reach $93.17 million at a CAGR of 43.9%. The demand for Augmented and Virtual Reality Market mainly derives from the higher cost of devices in the region, compared to Asian Countries. Favorable funding and easy access of products due to the presence of local companies are other factors responsible for the growth of this segment in this region. The key end-users in the region include Augmented Reality and Virtual Reality.

Selected Opportunities Analysis
Virtual Reality – Opportunity Analysis

• The market for virtual reality-based applications is extensive in terms of its application which includes sectors like gaming, healthcare and education and training.
• Virtual reality based products like full-scale immersive 3D as diagnostic tools for doctors and nurses during surgery, have high growth opportunities in the healthcare industry.
• Products like the Oculus Rift, popular amongst video gamers, brought in a twist with its application potential in the healthcare industry, thus indicating an opportunity for the growth of virtual reality-based product market.
Augmented Reality – Opportunity Analysis
• Due to fast technological developments in the augmented reality based products, the healthcare industry will be able to explore opportunities in the augmented reality-based product market. The growth opportunity for augmented reality in healthcare is in surgical applications, training, and continuous medical education and rehabilitation. In surgical applications, augmented reality can be used to perform surgeries like endoscopy and digestive surgery with the help of robots. Subjected to training and continuous medical development, augmented reality can be used to train the nurses. In rehabilitation, augmented reality can be used to treat trauma and phobia patients.
• The opportunity for smart glasses based on augmented reality is tremendous in the coming years.

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Excerpts on Market Growth Factors
• The global AR and VR in the healthcare market display ample potential for growth. It is propelled by increasing healthcare costs, technological advancements, increasing demand for minimally invasive treatments, rising focus on patient safety, and increasing consolidation of the manufacturers.
• The expansion and growth of the market depend upon the creation of new applications which will be able to meet the application perspective demand from the end user.
• Growing interest in improving and sustaining interaction and engagement across the healthcare sector using gaming technology also propels the market for serious games.
• Increase in stroke cases would lead to the growth of augmented reality rehabilitation market in the forecast period.
• The global simulated clinical environment market is poised to grow at a CAGR of 16.5% in the forecast period to reach $312.3 million by 2018.

Key players of Augmented and Virtual Reality Market:

• Key players in the medical simulation market have adopted various strategies to expand their global footprint and augment their market share. The key strategies employed by companies such as Laerdal Medical (Norway), Medical Simulation Corporation (U.S.), Simbionix USA Corporation (U.S.), Surgical Science Sweden AB (Sweden), CAE Healthcare, Inc. (Canada), HealthStream, Inc. (U.S.) and Education Management Solutions, Inc. (U.S.), are in the form of new product launches, agreements, partnerships, collaborations, contracts, joint ventures, expansion, and mergers and acquisitions.
• The key players involved in these strategies are Simbionix USA Corporation (U.S.), Surgical Science Sweden AB (Sweden), Laerdal Medical AS/SimVentures (Norway), Gaumard Scientific Company, Inc. (U.S.), CAE Healthcare, Inc. (Canada), and Mentice AB (Sweden).

Augmented and Virtual Reality Market Report is segmented as indicated below
• Augmented and Virtual Reality Market By Component:
1 Augmented and Virtual Reality Market By Hardware Component:
1.1. 3D Camera
1.2. Sensors
1.2.1 Accelerometer
1.2.2 Gyroscope
1.2.3 Magnetometer
1.2.4 Global Positioning Systems
1.2.5 Proximity Sensor
1.3. Semiconductor Component
1.3.1 Controller/ Processor
1.3.2 Integrated Circuits
1.4. Displays
2 Augmented and Virtual Reality Market By Software Component
2.1. Software Development Kits
2.2. Cloud-Based Services
• Augmented and Virtual Reality Market for Entertainment Industry, by Technology
1 Augmented Reality Technology
1.1 Marker Based Augmented Reality
1.1.1 Passive Marker
1.1.2 Active Marker
1.2 Markerless Augmented Reality
1.3 Model-Based Tracking
1.4 Image Processing-Based
2 Virtual Reality Technology
2.1 Non-Immersive Technology
2.2 Semi-Immersive & Fully-Immersive Technologies
• Augmented & Virtual Reality Market for Entertainment Industry, By Device
1 Augmented Reality Devices
1.1 Head-Mounted Displays
1.2 Head-Up Display (HUD)
1.3 Handheld Device
2 Virtual Reality Devices
2.1 Head-Mounted Displays (HMD)
2.2 Gesture Control Device
2.2.1 Data Gloves
2.2.2 Others
2.3 Projector & Display Wall
• Augmented and Virtual Reality Market for Entertainment Industry, By Application
1 Gaming
2 Sports & Entertainment
2.1. Museum
2.2. Theme Parks
2.3. Art Gallery & Exhibitions
2.4. Consumer Vertical Overall Review
3 Augmented and Virtual Reality Market– By Geography (Covers 15+ Countries)
4 Augmented and Virtual Reality Market By Entropy

Companies Cited/Referenced/Interviewed:

1. 3B Scientific GMBH
2. Biodigital Systems LLC
3. Ingmar Medical Ltd
4. Promodel Corporation
5. Anesoft Corporation
6. B-Line Medical, LLC
7. Kyoto Kagaku Co, Ltd
8. Simulab Corporation
9. Anomalous Medical
10. Immersion Corporation
11. Limbs & Things Ltd
12. Simulaids Inc
13. Company 13
14. Company 14
15. Company 15+

What can you expect from the report?
The Augmented Reality and Virtual Reality Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country-level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis

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IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare.

IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare.

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