New York, USA, Dec. 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global augmented reality in healthcare market is expected to generate a revenue of $1,565.1 million by 2026, growing rapidly at a CAGR of 21.9% during the forecast period 2018-2026. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, 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.
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Dynamics of the Augmented Reality in Healthcare Market
Drivers: Rising demand for speedy diagnosis and treatment of diseases is expected to drive the growth of the market during the forecast period. In addition, considerable developments in medical imaging technology along with surging demand for virtual reality in healthcare is further expected to bolster the growth of the augmented reality in healthcare market during the forecast period.
Restraints: Extortionate cost of AR-based technology is expected to hinder the growth of the market during the forecast period.
Opportunities: Persistent technological advancements in augmented reality are expected to create massive opportunities for the growth of the global augmented reality in healthcare market during the forecast period.
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Segments of the Augmented Reality in Healthcare Market
The report has divided the market into various segments based on component, technology, end-use and region.
Component: Displays Component Sub-segment to Have a Promising Growth
The displays component sub-segment is expected to generate a revenue of $334.5 million during the forecast period. Surging demand for integrated devices like head mounted displays is expected to drive the growth of the augmented reality in healthcare market sub-segment during the forecast period.
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Technology: Mobile-Device based Technology Sub-segment to Acquire a Dominating Share
The mobile-device based technology sub-segment is projected to generate a revenue of $409.7 million during the forecast period. Increasing using global positioning system (GPS) in mobile phones for routing and navigation is expected to stimulate the growth of the augmented reality in healthcare market sub-segment during the forecast period.
End-Use: Healthcare Facilities Sub-segment to be Most Profitable
The healthcare facilities sub-segment is expected to generate a revenue of $315.5 million during the forecast period. Increasing adoption of technology to reduce the work and pressure on healthcare professionals across the globe is expected to drive the growth of the augmented reality in healthcare market sub-segment during the forecast period.
Region: North America Region Expected to Dominate the Market
The North America region is expected to generate a revenue of $664.9 million during the forecast period. Growing demand for consumer electronics devices and panels in this region is expected to stimulate the growth of the market. In addition, rapid adoption of innovative technologies and significant advancements in AR in this region is further predicted to bolster the growth of the regional augmented reality in healthcare market during the forecast period.
Key Players of the Augmented Reality in Healthcare Market
• 3D Systems
• Medical Realities
• Mindmaze
• CAE Healthcare
• Wikitude GmbH
• Siemens Healthineers
• Magic Leap
• VirtaMed
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in May 2019, Apple Inc., an American multinational technology company that specializes in consumer electronics, computer software and online services, acquired Tueo Health, a California-based startup that works with sensors to alert parents or caregivers about potential asthma-related issues in sleeping children, in order to accelerate Apple devices’ healthcare capabilities.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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