AR for Surgical Applications Market Analysis: The Future of Patient Care

According to the latest report by Virtue Market Research, the global augmented reality (AR) for surgical applications market size is expected to reach USD 18.13 billion by 2030. The market is projected to grow at a CAGR of 28.1% from 2023 to 2030.

The growth of the AR for surgical applications market is being driven by a number of factors, including:
• The increasing adoption of AR technology in the healthcare industry

• The growing demand for minimally invasive surgeries

• The rising need for improved patient outcomes

• The increasing availability of government funding for AR-related research and development

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Drivers

The following are some of the key drivers of the augmented reality for surgical applications market:

• Increasing adoption of AR technology in the healthcare industry: AR technology is being increasingly adopted in the healthcare industry for a variety of applications, including surgical training, patient education, and surgical navigation. This is driving the growth of the AR for surgical applications market.

• Growing demand for minimally invasive surgeries: Minimally invasive surgeries are becoming increasingly popular due to their many benefits, such as shorter recovery times and lower risk of complications. AR technology can be used to improve the accuracy and efficiency of minimally invasive surgeries, which is driving the growth of the AR for surgical applications market.

• Rising need for improved patient outcomes: AR technology can be used to improve patient outcomes by providing surgeons with real-time information about the patient's anatomy and by helping to reduce surgical errors. This is driving the growth of the AR for surgical applications market.

• Increasing availability of government funding for AR-related research and development: Governments around the world are increasingly funding research and development of AR-related technologies. This is helping to drive the growth of the AR for surgical applications market.

Restraints

The following are some of the key restraints of the augmented reality for surgical applications market:

• High cost of AR systems: AR systems can be expensive, which can limit their adoption in some settings.

• Lack of standardization of AR systems: There is currently no single standard for AR systems, which can make it difficult for healthcare providers to adopt them.

• Lack of awareness of AR technology: Some healthcare providers are not aware of the benefits of AR technology, which can limit its adoption.

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Segmentation Analysis

The augmented reality for surgical applications market is segmented and sub-segmented as follows:

By Type, the market is segmented into:
• Video Perspective (VST)
• Optical Perspective (OST)

By Application, the market is segmented into:
• Neurosurgery
• Spinal Surgery
• Orthopedic Surgery
• Otolaryngology Surgery
• Other

By Region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Players

Some of the key players operating in the augmented reality for surgical applications market are:
• Novarad
• Centerline Biomedical
• Pixee Medical
• Philips
• GE Healthcare
• Stryker
• Augmedics
• VOSTARS

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Latest Happenings

• In January 2023, Microsoft announced the launch of its HoloLens 2 augmented reality headset for the healthcare industry.

• In February 2023, Google announced that it is investing in the development of AR technology for surgical applications.

• In March 2023, Johnson & Johnson announced the launch of its Augmented Reality Surgical Navigation System.

The augmented reality for surgical applications market is expected to grow significantly in the coming years. The market is being driven by the increasing adoption of AR technology in the healthcare industry, the growing demand for minimally invasive surgeries, and the rising need for improved patient outcomes. The market is also being supported by the increasing availability of government funding for AR-related research and developments.

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About Us:
Virtue Market Research is a strategic management firm helping companies to tackle most of their strategic issues and make informed decisions for their future growth. We offer syndicated reports and consulting services. Our reports are designed to provide insights on the constant flux in the global demand-supply gap of markets.

This release was published on openPR.