New York, USA, Feb. 09, 2021 (GLOBE NEWSWIRE) -- The global augmented reality in healthcare market is anticipated to garner a revenue of $1,565.1 million at a CAGR of 21.9% during the forecast period, according to a report by Research Dive. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Market Dynamics
The recent developments in medical imaging technology and rising demand for virtual reality in healthcare industry are the most significant factors of the market growth. AR helps in getting the real time data of the patients. Moreover, AR helps in faster diagnosis and treatment of diseases. These are the factors contributing to the growth of the global market in the forecast period.
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As per the report, on the other hand, ethical hacking will act as a major threat for the industry.
Technological advancements in the healthcare industry is predicted to create myriad opportunities for the growth of augmented reality for healthcare market during the projected timeframe.
Key Market Segments
The report has divided the market into different segments based on component, technology, end-use, and regional outlook.
Displays Component Expected to be the Most Profitable
Displays component segment is estimated to account for $334.5 million by the end of 2026. The rising demand for integrated devices such as head mounted displays (HD) in the healthcare sector is going to boost the market growth during the upcoming years.
Mobile Device-based Technology Going to be the Most Lucrative
Mobile device-based is projected to reach approximately $409.7 million by the end of 2026. Tablets and smartphones play the significant role in the augmented reality market owing to compass and global positioning system are used in mobile phones for navigation and routing.
Healthcare Facilities Segment Estimated to be the Most Beneficial
Healthcare facilities segment is expected to reach $315.5 million throughout the projected period. This is due to the rising adoption of technology, as it reduces the stress of healthcare professionals (HCPs) related to the complexity of the whole processes.
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North America Predicted to Lead the Market
North America market is projected to generate revenue of $664.9 million by the end of 2026. The main growth drivers of the market is expected to be the rising demand for consumer electronic panels and devices in the U.S.
Key Market Players and Strategies
The leading players of the global augmented reality in healthcare market include -
- 3D Systems
- Medical Realities
- Mindmaze
- CAE Healthcare
- Wikitude GmbH
- Siemens Healthineers
- Magic Leap
- VirtaMed
These key players are working for the growth of the market by focusing on strategy development tactics such as merger, acquisition, partnership, collaboration, constant upgradation of the company portfolio, and many more. For instance, CAE today announced that it has acquired all the issued and outstanding shares of Flight Simulation Company B.V. (FSC) for a cash consideration of approximately €70 million (approximately C$108 million) paid to the sellers, calculated on the basis of an enterprise value of €100 million (approximately C$155 million).
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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