Vision Research Report, Recently Announced New Report on “augmented reality (AR) & virtual reality (VR) in healthcare market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030″.
Global “augmented reality (AR) & virtual reality (VR) in healthcare market” Report 2021 covering manufacturers, regions, segments, forecast to 2030 is that the recent research report with correct information and extremely authentic info. The report provides insights on market share, market size, rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. The augmented reality (AR) & virtual reality (VR) in healthcare research report focuses on the competitive surroundings that has section on company profile covering product specifications, geographical coverage, recent developments, revenue analysis, and market shares. what is more, the report offers strategic recommendations so as to help the consumers to align business goals.
The augmented reality (AR) & virtual reality (VR) in healthcare market revenue share is set to grow at a yearly rate of 39.1% during 2021-2030, while its valuation is Projected to jump from $ XX Bn in 2020 to $668.7 million in 2030.
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Report Highlights
the hardware segment held majority of the revenue share of 67.9%. Hardware devices such as desktops, head-mounted display, and other display devices are of particular importance while using these technologies. Display devices are of great significance since audio-visual simulation is a key component to create virtual and augmented reality. Head-mounted displays are gaining importance due to their applications in education, simulation, visualized data, video recording, telemedicine, telemonitoring, and many others.
Hardware devices such as smart glasses are experiencing a rise in adoption as this wearable technology improves clinical outcomes and provides improved care. Google Glass is one of the most widely known smart glasses and is used during surgeries for data visualization and video recording. These smart glasses help clinicians discuss a live case in teleconference mode, transfer photos or videos, and retrieve medical information. Advancing technologies and high demand to minimize healthcare complexity & increase efficiency are resulting in rising implementation of these devices & technologies in care services. However, services segment is expected to emerge as the fastest growing segment during the forecast period with a lucrative CAGR of 29.4%.
AR was the dominating technology segment in 2016. It has wide applications and has brought significant changes to the healthcare industry. It provides assistance in surgeries, helps in medical training & education, patient care & management, and medical imaging with the assistance of head-mounted displays. In addition, this technology plays a significant role in fitness management. Various AR-based wellness and fitness apps are revolutionizing the fitness regime. In case of AR, users do not lose contact with the real world and it puts the information into the eyesight as fast as possible. This is expected to make AR a driving force in the future of medicine.
The growing adoption of this technology with its increasing penetration in various areas of medical field and associated advantages contribute to the large share of this segment. The growing number of AR apps being developed for creating patient awareness, providing essential information to surgeons, and conducting medical training are expected to aid in growth of the market. Some examples of these apps include the EyeDecide app developed by OrcaMD that educates patients on conditions such as cataracts & Age-related Macular Degeneration (AMD), MedicAR, a Google Glass app launched by Droiders that provides surgeons with necessary instructions & data during surgeries, and mARble, a training app for medical students developed by the Hannover School of Medicine.
VR may witness rapid growth over the coming years and is projected to grow with a CAGR of 30.3%. Virtual training and education is one of the significant advantages with the integration of this technology in healthcare. Furthermore, use of VR in pain therapy sessions, telesurgery, visualization of anatomy, 3D-Stereovision, & exposure therapy are gaining importance and are expected to drive growth of the segment. In addition, use of VR in diagnostics is quite convenient & less time consuming and is expected to drive the growing adoption of the technology.
AR has an application in various areas such as surgeries, rehabilitation, training, and medical education. The surgical applications segment held majority of the revenue share in 2016. Increasing number of diseases and technological advancements in healthcare IT are the key reasons for increasing penetration of this technology in surgeries. AR uses various technologies such as sensors, simulators, and transparent displays to improve quality of communication between a patient and surgeon, thus enhancing surgical processes.
However, AR in training and medical education is anticipated to emerge as the fastest growing segment with a lucrative growth rate. Training surgeons and specialists on surgical procedures is expensive and difficult. AR-based devices help doctors perform complicated surgeries with instructions and guidance for avoiding human errors. The growing interest of technology-driven companies in developing apps and devices for training medical professionals is one of the driving force for the growth of this segment. For instance, Touch Surgery is an app developed by Kinosis Ltd. (UK) for surgery simulations through AR. It provides training to surgeons on several procedures using an overlay of a digital patient and provides an immersive experience with an AR headgear.
VR has applications in various areas like simulation, diagnostics, exposure therapy, rehabilitation, and pain distraction. VR-based simulation held the largest revenue share in 2016 in the application segment. VR simulation has gained momentum as it provides greater hands-on experience in medical education. Many medical schools and institutions are taking advantage of this opportunity around the globe. For instance, in California, the Western University of Health Sciences has transformed anatomy study with the development of a VR lab that provides students with virtual experience of the human body. Furthermore, VR in diagnostics segment is expected to emerge as the fastest growing application segment as it enables effective visualization of human anatomy and also prevents need of surgery or invasion.
North America dominated the market in 2016 with a revenue share of 43%, which can be attributed to constant technological advancement of related products, prevalence of neurological & psychological disorders, increased adoption of such advanced technologies, and presence of a sophisticated healthcare infrastructure. Furthermore, growing technological advancements in information technology and government support for integration of these technologies in medical field contribute to the large share of the market.
Extensive R&D activities in the region and presence of various market players also contribute to the large share of the region. The U.S. is the largest market in the region due to higher adoption level, high healthcare expenditure, and rising government initiatives & investment. The Medical Virtual Reality (MedVR) group present at the University of Southern California Institute for Creative Technologies is sponsored by the U.S. Army and focuses primarily on four areas of VR in medical field that include mental & rehabilitation health, neurocognitive assessment & training, game-based rehabilitation, and virtual human beings.
Asia Pacific is predicted to register fastest growth over the coming years. Factors responsible for faster emergence are high prevalence of chronic diseases and tremendous increase in internet & smartphone users using AR apps. The growing healthcare expenditure and rising government initiatives for adoption of digital & advanced technologies for better outcomes are expected to further lead to market growth.
Global augmented reality (AR) & virtual reality (VR) in healthcare market report provides key statistics on the state of the trade and could be a valuable supply of steerage and direction for corporations and people curious about the market. The augmented reality (AR) & virtual reality (VR) in healthcare trade trends and promoting channels analysed. augmented reality (AR) & virtual reality (VR) in healthcare Market discovers numerous topics like regional market scope, product market numerous applications, market size consistent with specific product, sales and revenue by region, producing analysis, Industrial Chain, Market result Factors Analysis, market size forecast, and more. Finally, the practicableness of latest investment comes is evaluated and overall analysis conclusions offered.
Key Players
Surgical; CAE HEALTHCARE; GE Healthcare; Virtual Realities, LLC; Philips Healthcare; 3D Systems, Inc.; Hologic Inc.; Laerdal Medical
Market Segmentation
Global Augmented reality (AR) & virtual reality (VR) in healthcare Market: Drivers and Restrains
The analysis report has incorporated the analysis of various factors that augment the market’s growth. It constitutes trends, restraints, and drivers that remodel the market in either a positive or negative manner. This section additionally provides the scope of various segments and applications that may probably influence the market within the future. The elaborated info is predicated on current trends and historic milestones. This section additionally provides an analysis of the amount of production regarding the world market and regarding every kind from 2021-2030.
COVID-19 impact on the Augmented reality (AR) & virtual reality (VR) in healthcare market
COVID-19 is associate communicable disease caused by the novel coronavirus. for the most part unknown before this happening across the world, COVID-19 has captive from a regional crisis to a worldwide pandemic in precisely a matter of a number of weeks. the world Health Organization (WHO) declared COVID-19 as an epidemic on March 11, 2021.
COVID-19 has compact most the industries across the world by disrupting provide chains and impeding numerous industrial operations. COVID-19-responsive measures undertaken by governments, like lockdown and social distancing, led to the closure of producing plants in the initial stage of the pandemic. With only a few industrial operations allowed, the demand for numerous input product within the industrial sector has declined considerably.
Key Highlights Involved in the Market Research Report: –
augmented reality (AR) & virtual reality (VR) in healthcare Market Study Coverage: It includes key market segments, key makers covered, the scope of product offered within the years thought of, world augmented reality (AR) & virtual reality (VR) in healthcare Market and study objectives. in addition, it touches the segmentation study provided within the report on the idea of the sort of product and applications.
Augmented reality (AR) & virtual reality (VR) in healthcare Market executive Summary: This section emphasizes the key studies, market rate, competitive landscape, market drivers, trends, and problems additionally to the gross indicators.
Augmented reality (AR) & virtual reality (VR) in healthcare Market Production by Region: The report delivers knowledge associated with import and export, revenue, production, and key players of all regional markets studied area unit coated during this section.
Augmented reality (AR) & virtual reality (VR) in healthcare Market Profile of Manufacturers: Analysis of every market player profiled is elaborated during this section. This section conjointly provides SWOT analysis, products, production, value, capacity, and different very important factors of the individual player.
The report delivers a comprehensive study of all the segments and shares info concerning the leading regions within the market. This report additionally states import/export consumption, offer and demand Figures, cost, business share, policy, price, revenue, and gross margins.
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