AR and VR in Healthcare Market Growth is Expected to Account for 42.42% CAGR to Gain USD 6.94 Billion by 2030

AR and VR in Healthcare Market Research Report Information By Technology (AR and VR technology), By Offering (Hardware and Software), By Application (Fitness, Patient Care, Pharmacy Management, and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

The augmented reality (AR) and virtual reality (VR) in healthcare market is expected to grow significantly in the coming years, driven by the growing demand for surgical planning and training. The global market was valued at USD 0.58 billion in 2022 and is projected to reach USD 6.94 billion by 2030, at a CAGR of 42.42%.

AR and VR technologies are being used in a variety of healthcare applications, including surgical planning, training, and rehabilitation. AR allows doctors to overlay digital information on the real world, while VR immerses users in a virtual environment.

In surgical planning, AR can be used to overlay patient scans onto the surgeon’s view of the operating field. This can help surgeons to better visualize the surgical anatomy and plan the procedure more accurately. VR can also be used to simulate surgical procedures, which can help surgeons to train for complex surgeries and improve their skills.

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Competitive Analysis

The market is estimated to create its trajectory for development in the period ahead owing to the individual contributions of the market stakeholders. The tone of diversification is likely to induce the growth of the global market with contenders trying to reduce the risk of volatility that is common in the market currently. The introduction of new products is estimated to range between lots of launches for individual companies to selected product launches in exclusive regional markets. The government bodies around the world are expected to have a dominant role in getting the global economy on track with conducive policies and subsidies.

The effectiveness of market strategies is estimated to be keenly observed to goad the consumer sentiments in the right angle and culminate in the purchasing of the various products and services. The inflow of funding in critical transactions can be estimated to have an overall positive effect on the global market in the appraisal period. The impact of disruptive technologies is also estimated to be carefully calculated in the coming period to reduce disturbances in the market structure.

The strong contenders in the AR & VR in healthcare market are Augmedix, Google, Firsthand Technology, Medical Realities, Microsoft, Mindmaze, Oculus VR, 3D Systems, Inc., Psious, Atheer, EchoPixel, Inc., Osso VR Inc., SURGICAL THEATER, LLC, Daqri, Orca Health, Inc., Hologic Inc., and others.

Market Segmentation

The AR and VR in healthcare market can be segmented based on several factors, including application, end-user, and region. Here’s a brief overview of each segment:

By Application: The market can be segmented based on the application of AR and VR technologies in the healthcare industry, such as medical training and education, patient treatment and rehabilitation, and mental health therapy.

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By End-User: The market can also be segmented based on the end-users of AR and VR technologies in healthcare, such as hospitals and clinics, research institutions, and medical schools.

By Region: The market can be segmented based on the geographical regions, such as North America, Europe, Asia Pacific, and the Rest of the World.

By Device Type: The market can also be segmented based on the type of AR and VR devices used in healthcare, such as head-mounted displays (HMDs), handheld devices, and projectors.

By Technology: The market can be segmented based on the type of AR and VR technology used, such as marker-based AR, markerless AR, fully-immersive VR, and non-immersive VR.

Overall, the market segmentation of AR and VR in healthcare provides a better understanding of the various factors that contribute to the growth of the market and helps in identifying new growth opportunities.

Detailed Regional Analysis 

The regional evaluation of the AR & VR in healthcare market includes regional markets of Europe, Asia Pacific, the Middle East, Africa and the Americas region.  The Americas AR & VR in healthcare market led the global owing to the intensifying requirement to decrease healthcare budget. The regional AR & VR in healthcare market in the Asia Pacific was expected to be the quickest growing region in 2030.

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The collective healthcare spending and high occurrence of chronic diseases are likely to drive the regional markets of the APAC region. Conversely, the Middle Eastern and African held the smallest share in the AR & VR in healthcare market owing to the minimal per capita income and strict government policies, particularly within the African region.

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