New York, USA, July 20, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global augmented reality in healthcare market is anticipated to generate a revenue of $1,565.1 million and grow at a CAGR of 21.9% over the estimated period from 2019 to 2026.
As per our analysts, with the rising developments in medical imaging technology together with the increasing demand for virtual reality in the healthcare industry, the augmented reality in healthcare market is expected to observe prominent growth during the forecast period. Besides, the surgeon can access 2D and 3D reconstructed images with AR technology which is the factor expected to amplify the growth of the market over the analysis timeframe. Moreover, the rapid technological advancements in the medical field to enable surgeons to visualize muscles, internal organs, and bones without surgery are expected to create massive growth opportunities for the market during the forecast period. However, ethical hacking along with the expensive augmented reality technology may impede the growth of the market over the estimated timeframe.
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Segments of the Augmented Reality in Healthcare Market
The report has divided the market into segments based on component, technology, end-use, and region.
Component: Displays Sub-Segment to be Most Profitable
The displays sub-segment is projected to generate a revenue of $334.5 million during the forecast timeframe. The increasing demand for integrated devices such as head-mounted displays is expected to bolster the growth of the market sub-segment during the analysis period.
Technology: Mobile Device-Based Sub-Segment to be Most Lucrative
The mobile device-based sub-segment is expected to garner a revenue of $409.7 million over the estimated timeframe. The increasing use of global positioning systems for navigation and routing in mobile devices such as tablets and smartphones is expected to fortify the growth of the augmented reality in healthcare market’s sub-segment during the forecast period.
End-Use: Healthcare Facilities Sub-Segment to be Most Beneficial
The healthcare facilities sub-segment is expected to generate a revenue of $315.5 million over the analysis period. The increasing adoption of technology in the medical field to reduce the stress of healthcare professionals related to the complexity of whole processes is predicted to amplify the growth of the market sub-segment during the estimated period.
Region: North America Region to Hold the Largest Share of the Augmented Reality in Healthcare Market
The North America region of the augmented reality in healthcare market is expected to garner a revenue of $664.9 million over the forecast timeframe. This is mainly due to the growing demand for consumer electronic panels and devices in this region. Moreover, the increasing adoption of new technologies and advancements in AR technology is predicted to propel the growth of the market sub-segment during the analysis period.
Key Players of the Augmented Reality in Healthcare Market
The major players of the augmented reality in healthcare market include
- CAE Healthcare
- Siemens Healthineers
- 3D Systems
- Wikitude GmbH
- VirtaMed
- Medical Realities
- Magic Leap
- Mindmaze, and many more.
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry. – Buy Full Report [240-pages] here starting at $2999 (Read-Only)
For instance, in March 2022, CAE Healthcare, a leading solution provider for simulation-based medical education (SBME) that improves healthcare, clinical competency, and patient safety, has announced to update CAE CathLabVR, a non-invasive cardiovascular simulator by integrating it with Microsoft HoloLens 2. This development would include more than 31,000 unique coronary blockage and heart attack scenarios that would help healthcare professionals to treat patients suffering from cardiac and vascular issues.
Further, the report also summarizes other crucial aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.
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