Extended Reality (XR) Market In Healthcare Size Worth US$ 20.1 Billion by 2028| CAGR 28.64%- IMARC Group

The latest research study "Healthcare Extended Reality Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that The global healthcare extended reality market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.1 Billion by 2028, exhibiting a growth rate (CAGR) of 28.64% during 2023-2028.

Extended reality (XR) in healthcare represents a combination of various technologies, such as augmented reality (AR), virtual reality (VR), and mixed reality (MR), which together produce an immersive understanding of medical applications. It provides real-time experiences with a mixture of visual, audio, and physical elements, creating more personalized and enhanced contextual experiences. As a result, XR is extensively utilized in the healthcare industry for several applications, including surgical training for students, advanced therapy and rehabilitation for chronic illnesses, medical research and drug discovery, enhanced efficiency of pharmaceutical manufacturing, etc., across hospitals, clinics, pharma companies, research organizations, and diagnostic laboratories.

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Healthcare Extended Reality Market Trends and Drivers:

The emerging trend of digitalization and the rising technological advancements in the medical sector are among the primary factors driving the healthcare extended reality market. Besides this, the escalating utilization of XR for including gamifying physical therapy sessions to speed up recovery, enhancing patient care, and incorporating immersive methods to improve results in mental health patients, is further augmenting the market growth. Moreover, the elevating requirement for extended reality in medical training to provide interactive learning experiences, such as a layer-by-layer study of human anatomy that offers more profound insight into nuances of body functions, is also catalyzing the global market. Apart from this, the growing popularity of this solution in surgical virtualization to create digital models for planning operations is acting as another significant growth-inducing factor. Additionally, the extensive utilization of XR in telemedicine to decentralize specialized care, including dermatology, neurology, pediatrics, etc., for enabling a shift from large setting services to more cost-effective locales is also stimulating the market growth. Furthermore, the expanding time-critical capabilities in 5G networks, which enhance the user experience, are anticipated to propel the healthcare extended reality market over the forecasted period.

Healthcare Extended Reality Market Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

• Hardware
• Software
• Services

Breakup by Technology:

• Augmented Reality
• Virtual Reality
• Mixed Reality

Breakup by Application:

• Surgery
• Therapy
• Education and Training
• Rehabilitation
• Pain Management
• Others

Breakup by End User:

• Hospitals, Clinics and Surgical Centers
• Pharma Companies
• Research Organization and Diagnostics Laboratories
• Others

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By Geography:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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