New York, Jan. 05, 2022 (GLOBE NEWSWIRE) -- According to the statistics by the World Health Organization (WHO), in the year 2020, deaths caused due to cancer accounted for around 10 Million. In addition to this, the most common causes of cancer deaths in the same year were due to lung cancer, colon & rectum cancer, liver cancer, stomach cancer, and breast cancer with 1.80 Million deaths, 935000 deaths, 830000 deaths, 769000 deaths, and 685000 deaths respectively. Moreover, in the year 2019, around 17.9 Million people died from cardiovascular diseases, which represented 32% of all deaths around the globe.
Kenneth Research has recently released a report on “Healthcare Augmented Reality & Virtual Reality Market: Global Demand Analysis & Opportunity Outlook 2020-2030” which includes a brief analysis of the key market players for the forecast period, i.e., 2021-2030. The report also covers detailed insights on the product portfolio of the market players, and their growth strategies. Besides this, analysis on the regulatory landscape, impact of COVID-19 on the market, and market dynamics that are associated with the growth of the market, are also studied in the report.
The need for diagnosis of diseases, backed by the increasing prevalence of chronic diseases worldwide, is increasing at a magnificent pace. Aided by the growing expenditure on health, which according to the World Bank, reached 9.858% (as a share of GDP) in the year 2018, up from 9.132% in the year 2008, research and developments in the field of healthcare has witnessed significant growth over the past few years. Moreover, with the advent in information technology, the use of advanced technologies, such as augmented reality and virtual reality, in combination with other industrial sectors, including healthcare, has proved to be beneficial for the healthcare professionals. Such a factor is therefore anticipated to drive the market growth. The global healthcare augmented reality & virtual reality market registered a revenue of USD 2010.2 Million in the year 2020, and is further expected to reach USD 39083.4 Million by the end of 2030, by growing with a CAGR of 35.0% during the forecast period.
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Augmented reality and virtual reality in healthcare is also used for providing medical training to healthcare professionals as these tools allow to re-create real-world images of anatomical structures in a virtual manner. Owing to the surge in the number of applicants admitted in medical schools worldwide, the demand for these advanced tools in healthcare is anticipated to increase, and in turn, drive the market growth. According to the statistics by the Association of American Medical Colleges (AAMC), the number of applicants admitted to the medical schools in the United States increased from 36083 applicants in the academic year 1980-1981 to 62443 applicants in the academic year 2021-2022.
The global healthcare augmented reality & virtual reality market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in North America registered the largest revenue of USD 868.4 Million in the year 2020, and is further projected to reach USD 16004.6 Million by the end of 2030. The market in the region is further segmented by country into the United States and Canada. Out of these, the market in the United States is projected to garner the largest revenue of USD 1269.0 Million by the end of 2022, while the market in Canada is projected to grow with the highest CAGR of 35.6% during the forecast period.
On the other hand, the market in Europe is projected to hold the second-largest revenue of USD 10787.0 Million by the end of 2030. The market in the region further registered a revenue of USD 563.9 Million in the year 2020. By country, the market in the region is segmented into Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, and the Rest of Europe. Amongst the market in these countries, the market in Germany registered the largest revenue of USD 135.6 Million in the year 2020, and is further expected to touch USD 2556.5 Million by the end of 2030. Moreover, the market in Russia is projected to grow with the highest CAGR of 38.2% during the forecast period.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global healthcare augmented reality & virtual reality market is segmented by end-user into hospitals & other medical facilities, research organizations & pharmaceutical companies, diagnostics laboratories, and others. Out of these, the hospitals & other medical facilities segment generated the largest revenue of USD 1022.9 Million in the year 2020, and is further expected to reach USD 20663.7 Million by the end of 2030. In North America, the segment is projected to display the largest revenue of USD 8482.5 Million by the end of 2030, up from a revenue of USD 442.9 Million in the year 2020. Moreover, in Europe, the segment registered the largest revenue of USD 287.6 Million in the year 2020, and is further expected to reach USD 5717.1 Million by the end of 2030.
The global healthcare augmented reality & virtual reality market is further segmented by application into surgery, fitness management, patient care management, pharmacy management, medical training & education, and others. Amongst these segments, the medical training & education segment is projected to display the largest revenue of USD 10627.7 Million by the end of 2030. Moreover, in the year 2020, the segment registered a revenue of USD 544.6 Million. In North America, the segment registered the largest revenue of USD 234.5 Million in the year 2020, and is further expected to reach USD 4337.3 Million by the end of 2030. On the other hand, in Asia Pacific, the segment is anticipated to touch the largest revenue of USD 2351.3 Million by the end of 2030, up from a revenue of USD 105.6 Million in the year 2020.
Browse to access In-depth research report on Global Healthcare Augmented Reality & Virtual Reality Market with detailed charts and figures: https://www.kennethresearch.com/report-details/healthcare-augmented-reality-virtual-reality-market/10352264
The global healthcare augmented reality & virtual reality market is also segmented on the basis of technology, offering, and by device type.
Global Healthcare Augmented Reality & Virtual Reality Market, Segmentation by Technology
- AR Technology
- Marker-Based AR
- Passive Marker
- Active Marker
- Markerless AR
- Superimposition AR
- Projection-Based AR
- Marker-Based AR
- VR Technology
- Non-Immersive Technology
- Semi-Immersive Technology
Global Healthcare Augmented Reality & Virtual Reality Market, Segmentation by Offering
- Hardware
- Software
- Software Development Kits
- Cloud-Based Services
- Services
Global Healthcare Augmented Reality & Virtual Reality Market, Segmentation by Device Type
- AR Devices
- Head-Mounted Devices
- Handheld Devices
- VR Devices
- Head-Mounted Devices
- Gesture Tracking Devices
- Projectors & Display Walls
Some of the prominent industry leaders in the global healthcare augmented reality & virtual reality market that are included in our report are Medical Realities Ltd., Osso VR, Inc., Orca Health, Inc., Psico Smart Apps, S.L., Surgical Theater, Inc., Vuzix Corp., CAE Inc., EchoPixel, Inc., Firsthand Technology Inc., MindMaze, Inc., Google LLC, Augmedics, Koninklijke Philips N.V., Microsoft Corp., Atheer, Inc., and others.
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