Augmented Reality & Virtual Reality in Healthcare Market - Forecast (2020 - 2025)

Augmented Realty is the augmentation of a real or material world with a computer generated sensory input. Virtual reality on the other hand means the simulation of a computer generated three dimensional environment interactional without any interference with the physical world. The major point of Augmented and virtual reality being used in the medical environment is their use of 3D effect that helps for a thorough investigation of the part that is affected and helps the doctors to plan the critical surgeries accordingly. These technologies also help in reducing the anxiety disorders. The movements of body parts can also be tracked easily with the Virtual Reality treatment. It also helps in prevailing over the fears that are caused to an individual like water phobia, height phobia and many more. The Augmented Reality and Virtual Reality is valued at $543.23 million in 2017 and is projected to grow to $1467.83 million by 2023 expected to grow at a CAGR of18.02%.

Augmented Realty and Virtual Reality in Healthcare  Market Outlook:

Augmented Realty and Virtual Reality can be used in a variety of disciplines like surgical applications, medical practitioner courses. They help in visualizing the parts in a three-dimensional way which makes the job of a doctor easy. They also help patients to know exactly the problem they are suffering with and helps them to analyze the parts that they are operated up on by the doctors. A product called AccuVein helps clinicians to know the position of veins and the blood circulation. SimX has developed a new simulator to provide its applications in healthcare training and offers a better and a high-definition image that can be projected anywhere like in an operating room, clinics, patient’s room.

Augmented Realty and Virtual Reality in Healthcare Market Growth drivers:

The major drivers for the Augmented Realty and Virtual Reality in Healthcare market is the increasing demand for robotic surgeries instead of by-pass surgeries and rising demand for cardiovascular surgeries is a major driver for the Augmented and virtual reality market. The recovery time with these technologies is much less compared to the other surgeries. The improvement in the skills of trainees by learning surgical procedures using this technology is also a driver for the Augmented and Virtual reality in medical field. The increased spinal problems and brain related issues is a driver in this market.

Augmented Realty and Virtual Reality in Healthcare  Market Challenges:

The major challenge in the Augmented Realty and Virtual Reality in Healthcare market is the lack of visualizing the depth where there is a chance of making mistakes in the surgeries. The other challenge is the strain that is caused to eyes due to watching screen continuously for longer durations. The low battery capacity that is the battery lasts only for five hours where the battery has to be charged again when the surgery takes long time which is also a challenge in this market. The other major challenge is the equipment cost which is very high where all the hospitals cannot employ these equipment.

Augmented Reality & Virtual Reality in Healthcare Market

Augmented Realty and Virtual Reality in Healthcare  Market Research Scope:

The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Superabsorbent Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.

Augmented Realty and Virtual Reality in Healthcare  Market Report: Industry Coverage

Augmented Realty and Virtual Reality in Healthcare Market– By Type: Augmented Reality, Virtual Reality

Augmented Realty and Virtual Reality in Healthcare Market– By Components: Hardware and software

Augmented Realty and Virtual Reality in Healthcare Market– By Process used: Rehabilitation, Training simulators, Diagnostics, Medical training and others.

Augmented Realty and Virtual Reality in Healthcare Market– By Application: Patient care management, Education, Surgeries and others.

Augmented Realty and Virtual Reality in Healthcare Market– By End-user industries: Hospitals, Clinics, Surgical centers, research organizations and others.

The Augment Reality and Virtual Reality in healthcare Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia

Augmented Realty and Virtual Reality in Healthcare  Market Key Players Perspective:

Some of the Key players in this market that have been studied for this report include: CAE Health Care, Intuitive Surgical, Hologic Inc., Philips Health care, Microsoft, Siemens Health Care, Atheer, Augmedix and many more.

Market Research and Market Trends of Augmented Realty and Virtual Reality in Healthcare  Market

• SynchronizAR, a device where Ultra-band width based measurement is attached to the AR mobile devices is being used in the Neurosurgery operation rooms. This helps neurosurgeons to visualize the critical data without changing any operative methods.
• The Food and Drug Administration (FDA) has approved the use of Microsoft HoloLens augmented reality for the surgeries.
• Hologic, Inc., a one of the key players in augmented reality market has acquired Focal Therapeutics for $125 million. This acquisition will help in strengthening the Company’s position in the rapidly growing market for breast conserving surgery.
• The European Respiratory Society AND 3D systems have collaborated to provide equipment for simulation in training centers of Endobronchial Ultrasound Certified Training Program. This helps the trainees to develop their skills in learning the invasive procedure of lung cancer and also in diagnosing diseases like Sarcoidosis, Tuberculosis