Press release
The Future of Healthcare: Exploring the AR and VR Revolution
Because VR has been widely adopted by the healthcare sector, the VR technology market is expected to grow significantly and reach a market value of over US$ 9,900 Mn by the end of 2026. However, by the end of 2026, it is predicted that the market for AR technology will only be worth $2,000,000,000. During the forecast period of 2018-2026, VR is anticipated to experience a higher CAGR of over 50% in terms of growth rate.VR technology is advantageous for patients as well as doctors because it allows patients to virtually visit doctors, which is very convenient for patients. This has significantly contributed to the growth of the VR market in the healthcare sector. Due to the more sophisticated VR technology offerings, Virtual Reality is superior to Augmented Reality, according to this research report. A person can use virtual reality to interact with a different world as if they were actually there. While AR creates a visual environment, it does not allow for any interaction with it.
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Key development in Healthcare AR VR Market
As of my knowledge cutoff date in 2021, the key developments in the Healthcare Augmented Reality (AR) and Virtual Reality (VR) market include:
1. Increasing Adoption of AR and VR in Surgical Training: AR and VR technologies are being increasingly utilized for surgical training, allowing medical professionals to practice complex procedures in a realistic virtual environment. Surgeons can use AR and VR simulations to enhance their skills, reduce the risk of errors, and improve patient outcomes.
2. Expansion of AR and VR Applications in Patient Care: AR and VR are being used to improve patient care in various ways, such as pain management, rehabilitation, and mental health treatment. For example, VR can be used to distract patients during painful procedures, while AR can help patients with visual impairments navigate their surroundings.
3. Remote Healthcare Delivery: AR and VR are being used to provide remote healthcare services, especially in rural and underserved areas where access to specialized medical care is limited. Telemedicine solutions powered by AR and VR technologies allow patients and healthcare providers to connect virtually, facilitating remote diagnosis, treatment, and monitoring.
4. Innovation in Medical Devices with AR and VR Integration: There is a growing trend of integrating AR and VR technologies into medical devices, such as surgical robots, imaging systems, and wearable devices. These integrated solutions provide real-time visual guidance to surgeons, enhance imaging capabilities, and improve patient monitoring, leading to better patient outcomes.
5. Increased Investment and Collaboration: The Healthcare AR and VR market have witnessed increased investment and collaboration among technology companies, healthcare providers, and research institutions. This has led to the development of advanced AR and VR solutions, partnerships for clinical trials and research, and collaborations to create standardized guidelines for the use of AR and VR in healthcare.
6. Regulatory Advancements: There have been regulatory advancements in the Healthcare AR and VR market, with regulatory bodies providing guidelines and approvals for the use of AR and VR technologies in healthcare settings. This has helped in accelerating the adoption of AR and VR in healthcare by ensuring safety, efficacy, and compliance with regulatory requirements.
Key Players:
The report has profiled some of the Important players prevalent in the global like - Samsung Electronics Co. Ltd, Google Inc., DAQRI LLC, Oculus VR, LLC, Magic Leap, Inc., ImmersiveTouch, Inc., FIRSTHAND TECHNOLOGY INC., HTC Corporation etc and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Healthcare AR VR.
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Market Taxonomy
By Technology Type • (AR) Augmented Reality
• (VR) Virtual Reality
By Component • Hardware
• Software
• Services
By Application • Patient Care Management
• Medical Training
• Surgery Planning
• Rehabilitation
• Others
By End User • Hospitals & Clinics
• Medical Research Organizations
• Diagnostic Centers
• Others
By Region • North America
• Latin America
• Europe
• China
• Japan
• SEA and Other
• APAC
• MEA
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Key Questions Answered in This Report.
• What will the Market growth rate in Future?
• What are the key factors driving the global Market?
• Who are the key manufacturers in Market space?
• What are the opportunities and threats faced by the vendors in the global industry?
• What are sales, revenue, and price analysis by regions of industry?
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