With fast advancement, the augmented reality is becoming familiar amongst the medical professional for many usages in preparing surgery evaluation to MIS (minimally-invasive surgery) and rehabilitation. Several healthcare IT-enabled companies are expressing their interest into the market of ARH (Augmented Reality in Healthcare) to exploit on the high opportunities of growth that is being offered. The market working in dollars is experiencing technology interruption and is anticipated to develop at a strong double digit Compounded Annual Growth Rate (CAGR) in the period from 2016 to 2024. There is extensive usage of augmented reality as of medical training to pharmacy benefit management. Furthermore, not only saving patients’ lives but also other present methods in the healthcare system and organizations can be made more effective and detailed with help from the augmented reality.
In the viewpoint of the market in healthcare, augmented reality is established on the same business models like the ITs of the 1980s. Various new companies are anticipated to develop in the market. Though, some of them will be able enough to make its strong presence felt in the market. Furthermore, mergers and acquisitions are anticipated to be the most predominant trend in the healthcare market of augmented reality in the coming future. Consequently, the market is ready to face competition in the market, with steep fall in the total prices in the predicted period.
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Growth of Healthcare IT infrastructure to Care development of augmented reality in healthcare market situation
Advancements in technology and high need to reduce healthcare intricacy are anticipated to boost the development in use of augmented reality in the coming future. The market revenue of ARH is anticipated to be pushed more by enhancing workload of the healthcare experts and strict supervisory compliances in medical trial and testing in the laboratories. Increase in healthcare expenses is a macroeconomic factor that would fuel the growth of the market to a degree. Growth is anticipated to be focused in evolved regions with strong healthcare set ups like Europe and North America. Though, high cost and concerns related to data security with ARH technology would restrain need to a definite extent in the predicted period.
Augmented Reality In Healthcare Market Taxonomy
According to Coherent Market Insights, the market is divided into:
- Product Type
- Augmented Reality
- Virtual Reality (VR)
- AR Input Devices
- AR Displays
- AR Sensors
- AR Semiconductor Components
- VR Semiconductor Components
- VR Sensors
- VR Devices
- Wearable AR System
- Augmented Reality (AR)
- Spatial AR System
- Semi-immersive VR System
- Fully-immersive VR System
- Virtual Reality (VR)
- Vision-based AR System
- Non-immersive VR System
- Mobile Device-based AR System
- End User
- Community Pharmacy
- Advertising Agencies
- Research laboratories
- Hospitals and Clinics
- Pharmaceutical and Biotechnology Companies
- Government Agencies
- Academic Institutes Unit
- Other End User
Advancements in Technology to Boost Use of Augmented Reality Solutions in North America
North America is anticipated to control the market size of ARH worldwide, due to increasing consciousness amongst people and increasing need for augmented reality amid people in this region. Furthermore, advancements in technology in AR are also emphasizing the growth of the market in North America. Europe will be the subsequent controlling healthcare market for AR (augmented reality). Normally, Europe’s expends more than 8% of its GDP in healthcare sector. Furthermore, the region is known by the existences of the chief companies and advancement in technology in healthcare sector.
In Asia Pacific, the market size of ARH is estimated to develop slowly in the following decade. Asia Pacific is majorly an unexplored market owing to dearth of appropriate healthcare facilities in many Asian countries. Though, the countries of Asia Pacific – Japan, Australia, China, India and Malaysia among others is anticipated to be most profitable market for ARH in the coming future owing to arrays of fuelling factors. Very fast development in the economy and advancement of the healthcare set up is anticipated to boost the growth of the regions. Latin America and MEA are at its budding stage of the technology in the sector of healthcare, with some companies functioning in the region. Though, in this area, the markets are anticipated to follow an upward trend in the concluding part of the predicted period.
Innovation of the Product and focus on distribution channels are the main strategies used by the companies operating in the ARH (augmented reality in healthcare) sectors.
The main companies operating in the healthcare market of augmented reality are Zugara Inc., Vuzix Corporation, Qualcomm Incorporated, Artoolworks Inc, Augmented Pixels Co., Kooaba Ag, and Layar B. V.
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Main market players are engaged in several strategies like collaboration and partnership to advance in the cutthroat competition in the market.
- Vuzix Corporation is a supplier of smart glasses and dealing in products of augmented reality moved into a partnership with 1Minuut Innovation and Deloitte Netherlands in September 2018 to bring the innovation of augmented reality by means of smart glasses in the healthcare industry.
- Vuzix in April 2019 moved into collaboration with VSee which is a telemedicine technology supplier in creating smart glasses that will be open for telemedicine.
- Vuzix’s Blade Smart Glasses App in October 2018 got Health Award at Cancer Corporation Code App Challenge at 2018 Cerner Health Conference held in Kansas, U.S.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Augmented Reality in Healthcare Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Augmented Reality in Healthcare Industry Impact
Chapter 2 Global Augmented Reality in Healthcare Competition by Types, Applications, and Top Regions and Countries
2.1 Global Augmented Reality in Healthcare (Volume and Value) by Type
2.3 Global Augmented Reality in Healthcare (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Augmented Reality in Healthcare Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Augmented Reality in Healthcare Market Analysis
Chapter 6 East Asia Augmented Reality in Healthcare Market Analysis
Chapter 7 Europe Augmented Reality in Healthcare Market Analysis
Chapter 8 South Asia Augmented Reality in Healthcare Market Analysis
Chapter 9 Southeast Asia Augmented Reality in Healthcare Market Analysis
Chapter 10 Middle East Augmented Reality in Healthcare Market Analysis
Chapter 11 Africa Augmented Reality in Healthcare Market Analysis
Chapter 12 Oceania Augmented Reality in Healthcare Market Analysis
Chapter 13 South America Augmented Reality in Healthcare Market Analysis
Chapter 14 Company Profiles and Key Figures in Augmented Reality in Healthcare Business
Chapter 15 Global Augmented Reality in Healthcare Market Forecast (2023-2030)
Chapter 16 Conclusions
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