The Global Augmented and Virtual Reality in Healthcare Market was valued at USD 510.36 million in 2016 and is projected to reach USD 8,313.29 million by 2025, growing at a CAGR of 36.35% from 2017 to 2025.
Virtual reality (VR) is a computer technology that uses virtual reality headsets or multi-projected environments, sometimes in combination with physical environments or props, to generate realistic images, sounds and other sensations that simulate a user's physical presence in a virtual environment, whereas Augmented reality (AR) is a live direct or indirect view of a physical, real-world environment whose elements are augmented by computer-generated or extracted real-world sensory input such as sound, video, graphics or GPS data. VR and AR benefits the healthcare sector in many ways including â€" medical education and training, corporate communication, enhanced patient care and treatment, managing lifestyle and wellness, surgical planning, telementoring, and more.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Growing use of VR and AR in fitness management
1.2 Rising demand and investments in healthcare VR and AR
1.3 Incorporation of connected devices in healthcare sector
1.4 Need to reduce healthcare costs
2. Market Restraints
2.1 Concerns for data privacy
2.2 Poor interoperability and compatibility between AR and VR solutions by offered by different vendors
2.3 Issues in deployment of AR and VR solutions
2.4 Lack of technical expertise among medical team to adopt new technologies
Market Segmentation:
The Global Augmented and Virtual Reality in Healthcare Market is segmented on the end user, offerings, device type, application, and region.
1. End User:
1.1 Government and Defense Institutions
1.2 Hospitals, Clinics, and Surgical Centers
1.3 Research and Diagnostics Laboratories
1.4 Research Organizations and Pharma Companies
2. By Offerings:
2.1 Software
2.2 Hardware
3. By Device Type:
3.1 Projectors and Display Walls
3.2 Virtual Reality in Healthcare Market
3.3 Augmented Reality in Healthcare Market
4. By Application:
4.1 Patient Care Management
4.2 Surgery
4.3 Medical Training and Education
4.4 Fitness Management
4.5 Pharmacy Management
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Microsoft
2. Mindmaze
3. Google
4. Psious
5. Daqri
6. Augmedix
7. Medical Realities
8. Firsthand Technology
9. Atheer
10. Oculus VR
11. Samsung Electronics
12. Osterhout Design Group
13. Orca Health
14. Echopixel
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Augmented and Virtual Reality in Healthcare Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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