Global AR in Healthcare Market Company Share, Industry Size, Strategies and Forecast to 2030

According to a new market research report published by Inkwood Research, the Global AR in Healthcare Market is estimated to register at a CAGR of 15.64% during the forecasting years of 2019-2028.
"Browse 37 market Data Tables and 43 Figures spread over 172 Pages, along with an in-depth TOC on Global AR in Healthcare Market Forecast 2019-2028."

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Augmented reality in the early stage of its application has found extensive application in various sectors such as gaming, retail, education, and others. In addition, healthcare is emerging as one of the major sectors incorporating the use of AR in its existing system. This is completely changing and enhancing the overall experience of both healthcare professionals and patients.

Modernization of Technology in Healthcare Augments the Market Growth
Information technology is getting upgraded every year with new technologies, new versions, improved structure, and a growing consumer base. In this age of the internet, it is very easy to be connected with everyone across the globe using social networks. In the coming years, efforts are being made to connect everyone with the help of the internet and expand the infiltration of the internet all over the world. The Internet of Things captures data and transmits it in the form of information, including usage patterns, environmental conditions, and consumer behaviors using hardware devices such as sensors, implants, lights, automobiles, buildings, and other devices. The IoT is predicted to be a huge business opportunity in the future. In 2017, it was calculated that about 20 billion devices were connected with the internet, and is expected to reach 80 billion by 2023. The development of the connected devices will be stimulated by innovations and surging adoption of wireless technology, decreased silicon costs, and compact technology and devices.
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Head-Mounted Technology Projects the Highest CAGR
A head-mounted display device or HMD is worn as a part of the helmet, and is the primary component of augmented reality headsets. The head-mounted displays gained recognition in present times, owing to the growing use of AR in various fields such as healthcare, e-commerce, gaming, interior designing, retail, entertainment, education, and real estate. AR head-mounted devices are transparent, and the captured information is laminated onto real-life objects. Escalating use of head-mounted devices in the field of medicine and research is anticipated to drive the expansion of the head-mounted display devices market. The data produced from MRI scans and X-ray computed tomography scans, together with anesthesia, help the surgeons to diagnose and operate patients better, henceforth, accelerating the demand for head-mounted displays in the future.

North America Region Captures the Largest Revenue Share
North America contributed the largest share in the year 2019 in terms of revenue. Rising government and private expenditure towards the development of AR technologies for the healthcare sector and the availability of improved healthcare infrastructure are accountable for the growth of the market. For example, the US government is shelling out sufficient capital to merge AR across different industries, thereby providing vendors, start-ups, and manufacturers with business opportunities. Moreover, the use of AR in medical training by different institutions and universities fuels market growth.
The competitive rivalry is intense in the market due to low product differentiation and minimal switching costs. The vendors are trying to break the price-based competition by offering value-added services, which not only offer them a competitive advantage, but also better profits. The eminent companies participating in the market challenge to maximize their market share are Daqri, Auriga SPA, Microsoft Corporation, Siemens, Sony Corporation, among others.

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