AR/VR in Healthcare Market 2020 to See Strong Growth Including Key Players - Google, Mindmaze, DAQRI, Psious, CAE Healthcare, Medical Realities

The AR/VR in Healthcare Market is estimated to reach USD 7.05 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising demand for innovative diagnostic techniques, neurological disorders, and increasing disease awareness. Based on statistics, the advancement in the field of information technology such as laptop, computer, internet connectivity and mobile applications, is also a significant factor stimulating market demand.

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Companies considered and profiled in this market study

Google, Mindmaze, DAQRI, Psious, CAE Healthcare, Medical Realities, Atheer, Augmedix, Oculus VR, Firsthand Technology, Siemens Healthineers, Philips Healthcare, 3D Systems, VirtaMed, Virtually Better.

The healthcare industry has transformed with the adoption of the technology for the virtual training of surgeons for complicated surgeries, phobia buster in mental health treatment, 3D operating room simulations, and chronic pain management. They also play an essential role in EMDR (Eye Movement Desensitization and Reprocessing) therapy that allows for reframing traumatic memories through specific eye movements. Also, they offer advantages in several areas of care management like cancer therapy, autism & depression therapy, and assisted living. VR-based organ models help surgeons prepare for delicate and complex operations that need higher accuracy, fewer complications, & decreased trauma.

Due to the constant technological advancement of related products, prevalence of neurological & psychological disorders, and presence of a sophisticated healthcare infrastructure, the North America region accounts for the highest market share of 44.2% in 2018. Moreover, the emerging technological advancements in information technology and government support for integration of these technologies in medical field contribute to the large share of the market.

For the purpose of this report, Reports and Data have segmented global AR/VR in Healthcare Market on the basis of Component, Technology, Application, End user and region:

Technology Outlook (Revenue, USD Million; 2016-2026)
AR
VR

Component Outlook (Revenue, USD Million; 2016-2026)
Hardware
Software

Application Outlook (Revenue, USD Million; 2016-2026)
Simulation& diagnostics
Surgeries
Patient care management
Education

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End User Outlook (Revenue, USD Million; 2016-2026)
Hospitals & Clinics
Surgical centers
Research organizations

Regional Outlook (2016-2026 and Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Further key findings from the report suggest

1. Hardware components account for the largest share of 36.7% of the market in 2018.

2. Hardware devices like smart glasses are undergoing a rise in adoption as this technology improves clinical outcomes and provides advanced care.

3. Google Glass is one of the most popularly known smart glasses which are used during surgeries for video recording and data visualization.

4. They also help surgeons to transfer photos or videos, discuss a live case in teleconference mode, and recover medical information.

5. Developing technologies and high demand to decrease healthcare complexity & increase productivity are resulting in the rising implementation of these technologies & devices in care services.

6. The hospitals and clinics of the end user segment is expected to grow at a rate of 28.3% during the forecast period.

7. This segment is expected to observe an improvement in the adoption of VR.

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Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

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