Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Global Outlook and Forecast 2018-2023

  • ID: 4465734
  • Report
  • Region: Global
  • 141 pages
  • Arizton
OFF
until Dec 31st 2018
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FEATURED COMPANIES

  • AccuVein
  • Augmedix
  • First Hand Technology
  • Magic Leap
  • MindMaze
  • Psious
  • MORE
This market research report on the healthcare augmented reality (AR) and virtual reality (VR) market offers analysis on the market size and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights about segmentation by applications (AR (surgeries, rehabilitation, and training and medical education) and VR (simulation, diagnostics, rehabilitation, pain distractions, and VRET)), technology (AR and VR), component (hardware and software), and geography (North America, APAC, Europe, and ROW).

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Overview

The increasing number of diabetic, HIV, and dementia patients and the high prevalence of chronic diseases around the globe are driving the expenditure in the healthcare industry. The implementation of internet analytics and IT lead innovations is fueling the development of the augmented reality and virtual reality market in the healthcare industry. Technological innovations help improve cost-effectiveness, offer better communication between the patient and the doctor, provide easy exchange of reports, improve tracking of the patient’s health, and offer better workforce training.

The increasing investments in developing digital healthcare technologies are creating new opportunities for vendors in the global AR and VR market in healthcare. The launch of innovative technology such as next-generation sequencing (NGS), 3D-printing, immunotherapy, artificial intelligence (AI), point-of-care diagnostics (POC), virtual reality (VR), augmented reality (AR), biosensors and trackers, convenient care, and telehealth will help enhance the consumer experience and offer better patient care.

The growing demand for AR and VR technology in the healthcare market will create new opportunities for leading vendors in the market. The convenience of training and the easy transfer of information are driving the growth of augmented reality (AR) and virtual reality (VR) market in the healthcare industry. The AR and VR market in healthcare is anticipated to generate revenue of about $3,038 million in 2023, growing at an impressive CAGR of more than 31% during the forecast period.

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Dynamics

The introduction of innovative technology and advanced medical devices helps reduce healthcare spending and saves time. The introduction of virtual healthcare applications efficiently handles patient care and offers superior services through the telemedicine platform. The implementation of such advanced and innovative technology will drive the growth of the AR and VR market in healthcare. The increasing use of augmented reality and virtual reality in the healthcare sector helps reduce medical training costs significantly and revolutionizes surgical procedures in the global industry. Diagnosis and medical history of the patient are now stored on smart wearables and can be accessed from remote locations. Such advancement will augment the development of the global AR and VR market in healthcare during the forecast period.

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare Segmentation

This market research report includes a detailed segmentation of the market by applications, technology, component, and geography.

AR and VR Market in Healthcare - By Component

Introduction of innovative hardware devices to boost sales in the AR and VR market in healthcare during forecast period.

The components segment in the AR and VR market in healthcare include hardware and software. The hardware segment dominated the global AR and VR market in healthcare accounting for around 67% of the total market share in 2017. The hardware component in the AR and VR market in healthcare consists of desktops, smartphones, head-mounted displays (HMDs), tablets, smart glasses, and other connected devices. The growing adoption of augmented reality (AR) and virtual reality (VR) devices helps in simulation, visualizations, analysis of data, recording video, telemedicine, telemonitoring, and assist doctors during surgeries and help in the rehabilitation process. Some of the leading hardware vendors in the AR and VR market in healthcare are Oculus Rift, HTC Vive, Samsung Gear VR, Google Glass, Microsoft HoloLens, ODG R-8, and Epson Moverio.

AR and VR Market in Healthcare - By Technology

The emergence of big data, cloud technologies, and network connectivity to augment the growth of the AR and VR market in healthcare.

The AR and VR market in healthcare by technology is classified into AR and VR. The AR technology segment dominated the AR and VR market in healthcare growing at an exponential CAGR of close to 30% during the forecast period. Factors such as easy communication between doctors and patients, medical education, and corporate communication and sales are boosting the adoption of AR technology in the global AR and VR market in healthcare. Medical professionals in the global market are using augmented reality to perform surgeries in remote locations, send anatomical drawings, and offer voice assistance during the procedure. The increasing investment in the development of AR technology will boost the adoption of these devices in the global AR and VR market in healthcare during the forecast period.

AR and VR Market in Healthcare - By Applications

AR assisted surgery to gain immense popularity in the AR and VR market in healthcare during forecast period.

The applications segment in the global AR and VR market in healthcare consists of AR assisted surgery, AR assisted rehabilitation, AR assisted training and medical education, VR assisted simulation, VR assisted diagnostics, VR assisted rehabilitation, VR assisted pain distraction, and VR assisted virtual reality expose therapy (VRET). The AR assisted surgery segment is gaining popularity in the augmented reality (AR) and virtual reality (VR) market in healthcare growing at a CARG of more than 29% during the forecast period. AR assisted surgeries are complex ones without any geographical barriers to provide smooth and seamless functioning in these procedures. The increasing use of connected devices such as smartphones and tablets for enhanced guidance during surgeries will drive the growth of the AR assisted surgery in the AR and VR market in healthcare.

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - By Geography

North Americas is the largest geographical segment in the AR and VR market in healthcare.

The AR and VR market in healthcare by geography is classified into North America, APAC, Europe, and ROW. North America dominated the global augmented reality (AR) and virtual reality (VR) market in healthcare, occupying close of half of the total market share in 2017. Rising health-conscious among population, increasing disposable income, and growing penetration of smart devices are some of the factors that can contribute to the growth of the AR and VR market in healthcare in North America. The introduction of innovative medical technologies and sophisticated medical devices and drugs will help leading vendors in North America occupy a larger market share in the AR and VR market in healthcare over next few years.

Key Countries Profiled

The key countries profiled in the report are:
  • US
  • UK
  • China
Key Vendor Analysis

The AR and VR market in healthcare is highly fragmented with the presence of several vendors offering devices at a competitive price. The infiltration of low-quality products is increasing the competition in the global AR and VR market in healthcare. The leading players are focusing on leveraging technology and brand identity to gain market share in the augmented reality and virtual reality market in healthcare. The increasing investments in R&D for the development of innovative products will create new business opportunities for prominent companies in the market. The increasing focus on emerging companies in the APAC region will help players expand their business and distribution channels to new regions.

The major vendors in the global market are:

Key Companies in AR
  • Orca Health
  • Business Overview
  • Healthcare Solutions
  • Brain Power LLC
  • Medsight Tech
  • Accuvein
  • EchoPixel Inc
  • Augmedix
  • Atheer Inc
  • Aira
  • Proximie
  • Kinosis Ltd
Key Companies in VR
  • MindMaze
  • Psious
  • Virtually Better
  • First Hand Technology
  • Immersive Touch
  • Medical Realities
  • Osso VR Inc
  • VirtaMed
  • zSpace Inc
  • Surgical Theater
Key Companies for Devices
  • Microsoft
  • Alphabet Inc
  • Magic Leap
  • Osterhout Design Group Inc
  • Facebook
  • HTC
  • Vuzix
Key market insights include:
1. The analysis of the AR and VR market in healthcare provides market size and the growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights about current industry trends, trend forecast, and growth drivers about the AR and VR market in healthcare.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of AR and VR market in healthcare.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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FEATURED COMPANIES

  • AccuVein
  • Augmedix
  • First Hand Technology
  • Magic Leap
  • MindMaze
  • Psious
  • MORE
1 Research Methodology

2 Research objectives

3 Research Process

4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Component Type
4.3.2 Market Segmentation by Application Type in AR
4.3.3 Market Segmentation by Application Type in VR
4.3.4 Market Segmentation by Technology
4.3.5 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1.1 Inclusions
5.1.2 Exclusions
5.2 Currency Conversion rate
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Augmented reality (AR)
7.1.1 Types of AR
7.1.2 Working of AR
7.1.3 Uses of AR
7.2 Virtual reality (VR)
7.2.1 Uses of VR
7.2.2 Key Drivers of VR

8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Growth of Aging Population
8.1.2 Increased Spending on Healthcare
8.1.3 Increased Penetration of Connected Devices in Healthcare
8.2 Market Growth Restraint
8.2.1 Low Number of Expert Medical Professional and Lack of Infrastructure for New Technologies
8.2.2 Data Security of Medical Records
8.3 Market Opportunities & Trends
8.3.1 Reduced Healthcare Spending and Time
8.3.2 Increasing Investment in AR and VR Market
8.3.3 Increased Use of AR and VR in Fitness Industry

9 Global AR and VR Market in Healthcare
9.1 Market Overview
9.2 Market Size & Forecast
9.3 Porter’s Five Forces Analysis
9.3.1 Threat of New Entrants
9.3.2 Bargaining Power of Suppliers
9.3.3 Bargaining Power of Buyers
9.3.4 Threat of Substitutes
9.3.5 Competitive Rivalry

10 AR and VR in Healthcare Market by Components
10.1 Market overview
10.2 Hardware
10.2.1 Market Overview
10.2.2 Market size and Forecast
10.3 Software
10.3.1 Market Overview
10.3.2 Market size and Forecast

11 AR and VR Market in Healthcare by Technology
11.1 Market Overview
11.2 AR in Healthcare
11.2.1 Market Overview
11.2.2 Market Size & Forecast
11.3 VR in Healthcare
11.3.1 Market Overview
11.3.2 Market Size & Forecast

12 AR and VR in Healthcare by Application
12.1 Market Overview
12.2 AR assisted Surgery
12.2.1 Market Size & Forecast
12.3 AR Assisted Rehabilitation
12.3.1 Market Size & Forecast
12.4 AR assisted Training and Medical Education
12.4.1 Market Size & Forecast
12.5 VR Assisted Simulation
12.5.1 Market Size & Forecast
12.6 VR Assisted Diagnostics
12.6.1 Market Size & Forecast
12.7 VR Assisted Rehabilitation
12.7.1 Market Size & Forecast
12.8 VR Assisted Pain Distraction
12.8.1 Market Size & Forecast
12.9 VR Assisted Virtual Reality Expose Therapy (VRET)
12.9.1 Market Size & Forecast

13 AR and VR in Healthcare Market By Geography
13.1 Market Overview
13.1.1 Market Size & Forecast

14 NORTH AMERICA: AR and VR MARKET in Healthcare
14.1 Market Overview
14.2 Market Size & Forecast
14.3 Key Countries
14.3.1 US: Market Size & Forecast

15 Europe: AR and VR in Healthcare Market
15.1 Market Overview
15.2 Market Size & Forecast
15.3 Key Countries
15.3.1 UK: Market Size & Forecast

16 APAC: AR and VR in Healthcare Market
16.1 Market Overview
16.2 Market Size & Forecast
16.3 Key Countries
16.3.1 China: Market Size & Forecast

17 ROW: AR and VR in Healthcare Market
17.1 Market Overview
17.2 Market Size & Forecast

18 Competitive Landscape
18.1 Market Overview

19 Key Company Profiles in AR
19.1 Orca health
19.1.1 Business Overview
19.1.2 Healthcare Solutions
19.2 Brain Power llc
19.2.1 Business Overview
19.2.2 Healthcare Solutions
19.3 Medsight Tech
19.3.1 Business Overview
19.3.2 Healthcare Solutions
19.4 Accuvein
19.4.1 Business Overview
19.4.2 Healthcare Solutions
19.5 Echopixel inc.
19.5.1 Business Overview
19.5.2 Healthcare Solutions
19.6 Augmedix
19.6.1 Business Overview
19.6.2 Healthcare Solutions
19.7 ATheer Inc.
19.7.1 Business overview
19.7.2 Healthcare Solutions
19.8 Aira
19.8.1 Business Overview
19.8.2 Healthcare Solutions
19.9 Proximie
19.9.1 Business Overview
19.9.2 Healthcare Solutions
19.10 Kinosis Ltd
19.10.1 Business Overview
19.10.2 Healthcare Solutions

20 Key Company Profiles in VR
20.1 Mind maze
20.1.1 Business Overview
20.1.2 Healthcare Solutions
20.2 Psious
20.2.1 Business Overview
20.2.2 Healthcare Solutions
20.3 Virtually Better
20.3.1 Business Overview
20.3.2 Product Offering
20.4 First hand technology
20.4.1 Business Overview
20.4.2 Product Offerings
20.5 Immersive touch
20.5.1 Business Overview
20.5.2 Product offerings
20.6 Medical Realities
20.6.1 Business Overview
20.6.2 Product Offerings
20.7 Osso Vr inc.
20.7.1 Business Overview
20.7.2 Product Offerings
20.8 Virtamed
20.8.1 Business Overview
20.8.2 Product Offerings
20.9 Zspace Inc.
20.9.1 Business Overview
20.9.2 Product Offerings
20.10 Surgical Theater
20.10.1 Business Overview
20.10.2 Product Offerings

21 Key Company Profiles By Devices
21.1 Microsoft
21.1.1 Business Overview
21.1.2 Product Offerings
21.2 Alphabet Inc.
21.2.1 Business Overview
21.2.2 Product offerings
21.3 Magic leap
21.3.1 Business Overview
21.3.2 Product Offerings
21.4 Osterhout Design Group Inc.
21.4.1 Business Overview
21.4.2 Product Offerings
21.5 Facebook
21.5.1 Business overview
21.5.2 Product Offerings
21.6 HTC
21.6.1 Business Overview
21.6.2 Product offerings
21.7 Vuzix
21.7.1 Business Overview
21.7.2 Product Offerings

22 Report Summary
22.1 Key Takeaways
22.2 Qualitative Summary of AR and VR in healthcare Market
22.3 Quantitative Summary of Global Ar and VR Market

23 Appendix
23.1 List of Abbreviations

List of Exhibits
Exhibit 1 Segmentation of AR and VR in Healthcare
Exhibit 2 Market Size Calculation Approach 2017
Exhibit 3 Market Size Calculation 20170
Exhibit 4 Key Future Trends in Healthcare
Exhibit 5 Overview of Augmented Reality
Exhibit 6 Workflow of AR
Exhibit 7 60+ Aged Population in 2017
Exhibit 8 World Population by Age Group 2017
Exhibit 9 Healthcare Spending by Geography 2015 (% of GDP)
Exhibit 10 Healthcare Spending by Geography ($ trillion)
Exhibit 11 Market Size of Connected Devices 2017-2023 (billion units)
Exhibit 12 Some of the Connected Devices in Healthcare Industry
Exhibit 13 Connected Medical Devices Market 2017-2023 ($ million)
Exhibit 14 Global Rate of Economic Crime 2001-2016
Exhibit 15 Reported Cybercrime Rate by Geography 2016
Exhibit 16 Cybercrime Rate by Industry 2016
Exhibit 17 Number Deals and Funding for AR and VR Companies in Healthcare 2010-2015
Exhibit 18 Global AR and VR Healthcare Market 2017-2023 ($ million)
Exhibit 19 Five Forces Analysis 2017
Exhibit 20 AR and VR in Healthcare Market by Components
Exhibit 21 Global Shipment of VR and AR Headset 2016-2023 (million units)
Exhibit 22 AR and VR Hardware Market in Healthcare 2017-2023 ($ million)
Exhibit 23 AR and VR Software Market in Healthcare 2017-2023 ($ million)
Exhibit 24 AR and VR Healthcare Market by Technology
Exhibit 25 AR and VR in Healthcare Market 2017-2023
Exhibit 26 AR in Healthcare Market 2017-2023 ($ million)
Exhibit 27 VR Market in Healthcare 2017-2022 ($ million)
Exhibit 28 AR and VR Market in Healthcare by Application
Exhibit 29 AR Assisted Surgery Market 2017-2023 ($ million)
Exhibit 30 AR Assisted Rehabilitation Market 2017-2023 ($ million)
Exhibit 31 AR Assisted Training and Medical Education Market 2017-2023 ($ million)
Exhibit 32 VR Assisted Simulation Market 2017-2023 ($ million)
Exhibit 33 VR Assisted Diagnostics Market 2017-2023 ($ million)
Exhibit 34 VR Assisted Rehabilitation Market 2017-2023 ($ million)
Exhibit 35 VR Assisted Pain Distraction Market 2017-2023 ($ million)
Exhibit 36 Virtual Reality Expose Therapy Market 2017-2023 ($ million)
Exhibit 37 AR and VR Market in Healthcare by Geography 2017-2023
Exhibit 38 National Healthcare Expenditure in US 2013-2023 ($ trillion)
Exhibit 39 Healthcare AR and VR Market in North America 2017-2023 ($ million)
Exhibit 40 Healthcare AR and VR Market in US 2017-2023 ($ million)
Exhibit 41 Healthcare Expenditure Breakdown in Europe 2015
Exhibit 42 Per Capita Spending in Various Field 2015 ($)
Exhibit 43 Annual Saving Ratio of Western European Countries 2008-2017
Exhibit 44 Change in Annual Household Disposable Income in Europe 2008-2015 (%)
Exhibit 45 Devices Used for Surfing Internet in Europe by Age Group 2016
Exhibit 46 Changes in Per Capita Disposable Income in EU-28 Countries 2006-2015
Exhibit 47 Healthcare AR and VR Market in Europe 2017-2023 ($ million)
Exhibit 48 Healthcare AR and VR Market in UK 2017-2023 ($ million)
Exhibit 49 Increase in Urban Population in APAC 2005-2045 (%)
Exhibit 50 Comparison of Southeast Asian Countries with Income Brackets 2010-2025
Exhibit 51 Healthcare AR and VR Market in APAC 2017-2023 ($ million)
Exhibit 52 Healthcare AR and VR Market in China 2017-2023 ($ million)
Exhibit 53 Internet Penetration Worldwide 2017
Exhibit 54 Internet Penetration across World 2017
Exhibit 55 Healthcare AR and VR Market in ROW 2017-2023 ($ million)

List of Tables
Table 1 Key Geographies Definition
Table 2 Key Caveats
Table 3 Currency Conversion 2014-2017
Table 4 Popular AR Applications in the Market
Table 5 AR Wearable Devices
Table 6 Early VR Inventions in the 1960s
Table 7 Usage of VR in the 1990s
Table 8 Leading AR and VR Startups and Related Funding
Table 9 AR and VR in Healthcare Market by Components 2017-2023 ($ million)
Table 10 AR and VR Market in Healthcare by Technology 2017-2023 ($ million)
Table 11 AR Applications in healthcare 2017-2023 ($ million)
Table 12 VR Applications in Healthcare 2017-2023 ($ million)
Table 13 AR and VR Market in Healthcare by Geography 2017-2023 ($ million)
Table 14 Qualitative Summary of Global AR and VR in Healthcare Market
Table 15 Quantitative Summary of Global AR and VR in Healthcare Market by Geography ($ million)
Table 16 Quantitative Summary of Global AR and VR in Healthcare Market by Geography (revenue %)
Table 17 Quantitative Summary of Global AR and VR in Healthcare Market by Technology Type ($ million)
Table 18 Quantitative Summary of Global AR Application in Healthcare Market ($ million)
Table 19 Quantitative Summary of Global VR Application in Healthcare Market ($ million)
Table 20 Quantitative Summary of Global AR and VR in Healthcare Market by Components ($ million)
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  • HTC
  • Vuzix
  • Osterhout Design Group Inc
  • Magic Leap
  • Surgical Theater
  • zSpace Inc
  • VirtaMed
  • Osso VR Inc
  • Medical Realities
  • Immersive Touch
  • First Hand Technology
  • Virtually Better
  • Psious
  • MindMaze
  • Kinosis Ltd
  • Proximie
  • Aira
  • Atheer Inc
  • Augmedix
  • EchoPixel Inc
  • AccuVein
  • Medsight Tech
  • Brain Power LLC
  • Orca Health
  • Facebook
  • Microsoft
  • Alphabet
Note: Product cover images may vary from those shown
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