Selbyville, Delaware, Aug. 23, 2021 (GLOBE NEWSWIRE) --
According to latest report “Healthcare Augmented & Virtual Reality Market by Technology (Augmented Reality, Virtual Reality), Component (Hardware, Software, Services), Application (Surgery, Training & Education, Behavioral Therapy, Medical Imaging), End-use (Hospitals, Clinics, Academic Institute), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of healthcare augmented & virtual reality will cross $16.2 billion by 2027.
Technological innovation in the field of healthcare AR/VR will increase adoption rates in surgeries and diagnostics. The systems including touch surgery use virtual reality to provide a view of the patient’s anatomy and physiology, thereby providing opportunities for surgeons in the operating room. This is expected to fuel the market growth of healthcare augmented reality & virtual reality. Furthermore, increasing practice of storing medical images and patient data on the AR/VR platform will help in reducing requirements for expensive screens and unnecessary staff, thereby fostering the market expansion. However, high cost of product may hamper the market progression.
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Augmented reality segment accounted for USD 1.5 billion in 2020. The efficiency of healthcare processes such as anatomy, operative services and medical training procedures can be enhanced by using augmented reality technologies. Also, continuous improvements have been observed in the surgical environment and procedures with the application of augmented reality technologies. Moreover, implementing augmented reality technologies in rehabilitation services gives a more controllable environment where users can interact and enhance the recovery process.
The healthcare augmented & virtual reality market for services segment is anticipated to witness 31.5% growth rate through 2027 led by the increasing development of network services and interconnectivity services that enable patients to gain access to software platforms and product solutions. Also, in developing markets such as China, Mexico, India and Brazil are promising destinations for outsourcing services related to the development and distribution of AR/VR technologies in healthcare.
The training & education segment held more than 22.1% of the healthcare augmented & virtual reality market share in 2020. Training of medical students becomes much more realistic and enhanced by applying healthcare augmented & virtual reality technologies. Also, mixed reality (MR) along with AR and VR in medical education allows students to view and interact with actual organs and the different parts of the human body.
Hospitals segment will reach USD 3.9 billion by 2027. With increasing number of hospitals, growing operational complexities and increasing patient base will result to more implication of healthcare AR/VR solutions in hospital setting. Also, in developed countries such as U.S. and Germany among others, more than 25% of hospital sectors have AR/VR software to increase efficiency and curtail the cost.
Asia Pacific healthcare augmented & virtual reality market is estimated to attain over 32% CAGR by 2027 owing to the increasing acceptance of the latest technologies due to the presence of most of the electronics and display panel manufacturers. In addition, growing need for surgical procedures, and increased demand for better & quick access to healthcare services will exhibit significant the industry growth. For instance, surgeons in Singapore are using head-up display (AR technology) to provide data overlay on the patient body during the surgery or to visualize the entire procedure during the pre-surgical planning.
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A few notable players operating in the healthcare augmented & virtual reality market include Augmedics, Augmedix, FundamentalVR, Holologic, Inc., Intuitive Surgical, Inc., among others. Companies are focusing on various strategies such as acquisitions, business expansion and novel product or service launches to consolidate their market presence.
Table of Contents (ToC) of the report:
Chapter 3 Healthcare Augmented & Virtual Reality Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.3.2.2 Regulatory implications
3.4 Growth potential analysis
3.4.1 By technology
3.4.2 By component
3.4.3 By application
3.4.4 By end-use
3.5 COVID-19 impact analysis
3.6 Value chain analysis
3.7 Technology roadmap
3.8 Product lifecycle analysis
3.9 Porter's analysis
3.10 Competitive landscape, 2020
3.11 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/augmented-and-virtual-reality-in-healthcare-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
