Updated News:Augmented and Virtual Reality in Healthcare Market — Global Industry Analysis and Forecast 2020 to 2027

Global Augmented and Virtual Reality in Healthcare Market: Key Highlights

• The Global Augmented and Virtual Reality in Healthcare Market is estimated to reach USD 7213.73 Million by 2027 at a CAGR of 31.4% during the review period
• The augmented and virtual reality in healthcare market is majorly segments into component, technology, application and end-user.
• On the basis of component, the market is bifurcated into hardware, software and services. The hardware segment is expected to get the highest share growth in the forecast period. Devices such as desktops and head-mounted display are majorly important while using these technologies.
• On the bases of region, the market is segmented into Americas, Europe, Asia-Pacific, and Middle East & Africa.
• Asia-Pacific is projected grow at the fastest growth rate, with growing number of internet and smartphone users using AR applications.
• Top players that account for the major share include 3D Systems Inc., Atheer, Inc., Augmedix, Inc., CAE Healthcare, General Electric, Google, Medical Realities Ltd, Microsoft, MindMaze, Psious and among others.

Global Augmented and Virtual Reality in Healthcare Market: Key Market Dynamics

• There has been increasing investments and funding in healthcare is play a significant role for the augmented and virtual reality in healthcare market.
• The increasing adoption of connected devices is also lead to enhance the demand of the Augmented and Virtual Reality in Healthcare Market growth.
• Further, the increasing integration of technology & digitalization in healthcare is create a significant opportunity for the market.
• However, lack of skilled professionals are hindering the growth of the market.

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Global Augmented and Virtual Reality in Healthcare Market: Regional Overview

• America:
• America region is further divided in to the North America and Latin America. Globally, North America accounted for the major market share.
• North America accounted for the major market share with the growing adoption of new technology and sophisticated infrastructure.
• The countries such as US and Canada, with the higher expenditure on the healthcare as a percentage of the total GDP as well as the presence of a large number of medical device manufacturers will lead to boost the market growth.
• The availability of a various market plays as well as the extensive R&D activities in this region is lead to create an opportunity for the market growth.
• The Medical Virtual Reality (MedVR) group present at the University of Southern California Institute for the purpose of Creative Technologies is sponsored being by the US Army.
• Asia-Pacific
• Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea.
• Asia-Pacific is projected grow at the fastest growth rate, with growing number of Internet and smartphone users using AR applications. Also, with the growing initiatives by the government for the adoption of the emerging technologies is projected to fuel the growth of the market in the forecast period.
• The rising healthcare expenditure as well as the high prevalence of chronic diseases lead to boost the growth of the markets in the region.

Global Augmented and Virtual Reality in Healthcare Market: Key Players

Some of the key players operating in the market include 3D Systems, Inc., Atheer, Inc., Augmedix, Inc., CAE Healthcare, General Electric, Google, Medical Realities Ltd, Microsoft, MindMaze, Psious, and among others.

Global Augmented and Virtual Reality in Healthcare Market: Key Developments

• On June 2018, GE healthcare has introduced the virtual reality training for healthcare technology management professionals.
• On January 2020, CAE Healthcare had announced the Microsoft HoloLens 2 applications for the purpose of emergency care, ultrasound as well as for childbirth simulators.
• On September 2018, Vuzix Corporation, a supplier of smart glasses and augmented reality technology products, entered into partnership with 1Minuut Innovation and Deloitte Netherlands to bring augmented reality innovation through smart glasses across the healthcare industry.

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