Mixed Reality in Healthcare Market 2024: Key Trends and Growth Forecast

The Business Research Company recently released a comprehensive report on the Global Mixed Reality in Healthcare Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The mixed reality in healthcare market size has grown exponentially in recent years. It will grow from $0.47 billion in 2023 to $0.71 billion in 2024 at a compound annual growth rate (CAGR) of 51.7%. The growth in the historic period can be attributed to enhanced medical training, patient education, rehabilitation and physical therapy, chronic disease management, reduced radiation exposure.

The mixed reality in healthcare market size is expected to see exponential growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 57.7%. The growth in the forecast period can be attributed to global health initiatives, regulatory frameworks, holographic telemedicine, workflow optimization, remote consultations. Major trends in the forecast period include artificial intelligence (ai) integration, virtual clinical trials, wearable mixed reality devices, augmented preoperative planning, real-time language translation.

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Market Drivers and Trends:

The increase in older population is expected to propel the growth of the mixed reality in healthcare market going forward. The elderly population refers to people aged 65 and over. The elderly population is prone to a number of diseases and ailments that require surgery. The use of mixed reality in surgery allows surgeons to visualise a patient's anatomy side by side with their MRI and CT scan data. For instance, according to the data released by America's Health Rankings, an organization based in America evaluates health outcomes. In the United States, more than 56 million adults aged 65 and up life, accounting for around 16.9% of the total population. More than 73.1 million older people are expected by 2030 when the last of the baby boomer generation enters old age. Therefore, the rising elderly population is driving the growth of the mixed reality in healthcare market.

Technological advancements are a key trend gaining popularity in mixed reality in healthcare market. Major companies operating in the mixed reality in healthcare market are focused on developing new technological solutions to strengthen their position. For instance, in February 2022, Apollo Hospitals Group, an India-based healthcare company, collaborated with 8chili Inc. to enable participation in the metaverse. Virtual reality patient counseling before and after surgery will improve patient outcomes by bringing generic surroundings with soothing narratives that will encourage control over one's own body and physiological response. In order to strengthen the users' capacity to control their emotions, it will also involve them in virtual reality-based activities. An increase in patient satisfaction will be facilitated by this individualized approach to each patient. 8chili Inc. is a US-based deep tech firm creating the foundational framework for the production and distribution of metaverse content.

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Major Key Players of the Market:

Atheer Inc., Daqri Ltd., EchoPixel Inc., Firsthand Technology Inc., Microsoft Corporation, Oculus Labs, HTC Corporation, Samsung Electronics Co. Ltd., Surgical Theater Inc., Osso VR Inc., Medical Realities Ltd., Augmedix Inc., Google LLC, MindMaze SA, Facebook Inc., Third Eye Technologies Private Limited, Orca Health Care India Private Limited, Surgical Theatre LLC, Hologic Inc., AccuVein Inc., Medivis Inc., Intuitive Surgical Inc., Philips Healthcare, Siemens Healthineers, GE HealthCare Technologies Inc., Magic Leap Inc., Intel Corporation, Varjo Technologies, Vuzix Corporation, Augmentix Corporation, AccuVein LLC

Mixed Reality in Healthcare Market 2024 Key Insights:

• The mixed reality in healthcare market size is expected to see exponential growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 57.7%.
• Growing Elderly Population Propels Mixed Reality In Healthcare Market Growth
• 8Chili Inc. Collaborates With Apollo Hospitals Group To Enhance Patient Outcomes Through Virtual Reality Counseling In The Metaverse
• North America was the largest region in the mixed reality in healthcare market in 2023

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