Augmented Reality & Virtual Reality in Healthcare Market Size, Share and Competitive Landscape 2022-2028

Posted on 2022-12-20 by researchinsights in Technology // 0 Comments

San Francisco, California , USA, Dec 20, 2022 — /EPR Network/ —

Augmented Reality & Virtual Reality In Healthcare Industry Overview

The global Augmented Reality & Virtual Reality in Healthcare Market size is expected to reach USD 9.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 27.2% from 2021 to 2028. Increasing advancements and digital disruptions in the healthcare system, rising healthcare expenditure, and the rising need for efficient and innovative solutions to enhance clinical and operational outcomes are contributing to the growth of the market. Augmented reality (AR) and virtual reality (VR)technologies are witnessing widespread adoption in surgical departments, simulation labs, education and training, and chronic pain management.

The rising number of complex surgeries is driving the demand for VR-based models to assist the surgeon. AR-based apps are used in multiple spaces such as training and education modules and patient care management tools. Innovators are receiving recognition in the form of increased investments by venture capitalists and collaboration opportunities by established players. For instance, in September 2020 OssoVR rose funding of USD 14.0 million and planned to utilize the funding towards developing virtual reality-based surgical and medical device training modules.

Augmented Reality & Virtual Reality In Healthcare Market Segmentation

Grand View Research has segmented the global augmented reality & virtual reality in healthcare market on the basis of component, technology, and region:

Based on the Component Insights, the market is segmented into Hardware, Software, and Service

In 2020, the hardware segment dominated the market for augmented reality and virtual reality in healthcare and accounted for the largest revenue share of 67.6%.
Devices such as head-mounted displays, smart glasses, and 3D sensors hold significant shares in the market for AR & VR in healthcare.
However, the software segment is expected to grow fast over the forecast period owing to recent technological advancements in in-app designing including apps such as EyeDecide.

Based on the Technology Insights, the market is segmented into Augmented Reality and Virtual Reality

The augmented reality technology segment dominated the market in 2020 owing to the growing adoption of inpatient care management, training and education, and medical imaging
However, the VR sector in healthcare is expected to grow as various healthcare IT companies are increasingly investing in this sector due to potential growth opportunities.

Augmented Reality & Virtual Reality In Healthcare Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Companies Profile & Market Share Insights

The market for augmented reality and virtual reality in healthcare is witnessing a rise in the investment in R&D activities along with mergers and acquisitions to overcome competition in the market. Many new startups such as BioflightVR and Mindmaze are introducing novel applications of these technologies in healthcare.

Some prominent players in the global Augmented Reality & Virtual Reality In Healthcare market include:

CAE
GE Healthcare
Koninklijke Philips N.V.
Intuitive Surgical
Siemens Ltd
Eon Reality, Inc
Layar
Bioflight VR
WorldViz
TheraSim Inc
Mindmaze

Order a free sample PDF of the Augmented Reality & Virtual Reality In Healthcare Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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