Portland, OR, March 17, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Augmented Reality (AR) in Healthcare Market generated $609.60 million in 2018 and is expected to generate $4.23 billion by 2026, witnessing a CAGR of 27.4% from 2019 to 2026. The report provides a detailed analysis of changing market trends, major segments, top investment pockets, current market size & projections, and competitive landscape.
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Increase in application of AR in rehabilitation, diagnostic imaging, surgical simulation, and patient care management along with surge in number of AR-based startups propel the growth of the global AR in healthcare market. However, issues regarding data privacy and lack of adequate infrastructure restrain the market growth. On the other hand, increase in investments in AR technologies and favorable government policies to integrate novel technologies in the healthcare are expected to create new opportunities in the next few years.
On the basis of technology, the handheld segment accounted for more than three-fifths of the total market share of the market in 2018, and is expected to maintain its lead in terms of revenue during the forecast period. This is due to increase in utilization and convenience of AR technology in devices. However, the head mounted segment is estimated to grow at the highest CAGR of 27.9% from 2019 to 2026.
On the basis of end user, the hospitals & clinics segment accounted for the highest market share of the market in 2018, accounting for nearly three-fifths of the total market share, and would maintain its dominance based on revenue during the forecast period. This is attributed to rise in AR applications for surgeons for availing assistance at the time of surgeries. However, the research laboratories segment is estimated to maintain a CAGR of 26.8% from 2019 to 2026.
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Geographically, North America contributed to the highest market share, accounting for more than two-fifths of the total market in 2018, and is estimated to maintain its lion’s share during the forecast period. However, Asia-Pacific is estimated to witness at the highest CAGR of 29.3% from 2019 to 2026.
Leading market players analyzed in the research include BASF SE, Rentokil Initial plc, Bayer AG, Rollins, Inc., Ecolab, The ServiceMaster Company, LLC., FMC Corporation, Dodson Pest Control, Inc., Syngenta, and Lindsey Pest Services.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.