Global Augmented Reality AR And Overview
Augmented reality (AR) augments your surroundings by adding digital elements to a live view, often by using the camera on a smartphone. Virtual reality (VR) is a completely immersive experience that replaces a real-life environment with a simulated one. AR collects the digital information with user’s environment in real time and is becoming more accessible and affordable for medical education and imaging, dentistry and nurse training. AccuVein, VIPAR ARnatomy, and VA-ST are among the available AR solutions for health care. VR helps with pain control in adults. When VR is applied in medication, it can reduce the severe pain of people during wound or else burn injuries. AR helps in showing interaction of new drug with the body. This technology helps healthcare professionals to diagnose and provide suitable medication to the human body. This set ups generate better imaging techniques, proper diagnosis and reliable treatment. The augmented reality (AR) and virtual reality (VR) in healthcare market accounted for US$ 1.76 billion in 2020 and is estimated to be US$ 17.37 billion by 2030 and is anticipated to register a CAGR of 26.0%.
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
Global Augmented Reality AR And Drivers & Restraints
Drivers: Applications in Surgeries and Diagnostics
AR and VR gaining much more attraction because of its application in surgeries and diagnostics. Systems such as touch surgery uses VR to study the patient’s anatomy in a better way, thereby surgeons get best view in operating room. This, in turn, is expected to major factor in growth of AR and VR in healthcare market. Over the past few decades, the application of AR and VR in medical surgeries had a greater impact in efficacy of treatment and the methods of surgeries.
Restraints: High Cost
High prices of the surgeries may be the vital sign in the declination of this market. Besides this, the maintenance cost of this machines is quite high. So, it is most probably avoided by healthcare professionals.
Global Augmented Reality AR And Segmentations & Regional Insights
Augmented reality and virtual reality market is segmented based on component, application, end user, and region.
On the basis of component, the global AR and VR in healthcare market is segmented into hardware, software, and services. Based on application, the target market is segmented into surgery, fitness management, patient care management, pharmacy management, medical training and education, and others. On the basis of end user, the target market is segmented into hospitals, clinics, surgical centers, research organizations, pharma companies, government, and others.
Regional Insights:
Augmented reality and virtual reality in healthcare market accounted for US$ 1.76 billion in 2020 and is estimated to be US$ 17.37 billion by 2030 and is anticipated to register a CAGR of 26.0%. On region the global AR and VR in healthcare market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the AR and VR in the healthcare market, in 2020 they have booked largest revenue share. The factors responsible for this region are technological advancement, support of government bodies, investment in R&D activities. Asia-Pacific might grow at faster in this sector, due to awareness among the population, improving healthcare infrastructure.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Component- Hardware, Software, and Services By Application– Surgery, Fitness Management, Patient Care Management, Pharmacy Management, Medical Training and Education, and Others By End User– Hospitals, Clinics, and Surgical Centers, Research Organizations, Pharma Companies, Government, and Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global augmented reality and virtual reality in healthcare market report based on component, application, end user and region.
Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market, By Region:
- North America
- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- U.S.
- Canada
- Middle East & Africa
Global Augmented Reality AR And Competitive Landscape & Key Players
The key players in the augmented reality (AR) and virtual reality (VR) in healthcare market includes, Orca Health Inc., Brain Power LLC, Echo Pixel Inc., Mind Maze, First Hand Technology Inc., Medical Realities Ltd., zSpace Inc., Microsoft Corporation, Alphabet Inc., Magic Leap Inc., and Osterhout Design Group Inc.
Global Augmented Reality AR And Company Profile
- Orca Health Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Brain Power LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- EchoPixel Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- MindMaze
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- First Hand Technology Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Medical Realities Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ZSpace Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Microsoft Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Alphabet Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Magic Leap Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
FAQs
The global AR and VR in healthcare market is segmented based on component, application, end user and region.
Rising application of augmented reality and virtual reality in healthcare market by government is the major factor driving growth of the global market.
North America dominated the AR and VR in the healthcare market, in 2020 they have booked largest revenue share. The factors responsible for this region are technological advancement, support of government bodies, and investment in R&D activities.
Key players in the global augmented reality (AR) and virtual reality (VR) in healthcare market includes, Orca Health Inc., Brain Power LLC, EchoPixel Inc., MindMaze, First Hand Technology Inc., Medical Realities Ltd., zSpace Inc., Microsoft Corporation, Alphabet Inc., Magic Leap Inc., and Osterhout Design Group Inc.