AR & VR in Healthcare Market Research Report: By Technology (AR and VR technology), Offering (Hardware & Software), Device Type (AR & VR Device Type), Application (Fitness, Patient Care, Pharmacy Management & Others), End User – Global Forecast Till 2027
AR & VR in Healthcare Market-Overview
The massive application scope of AR & VR has made its presence duly noted in several areas of the healthcare sector. Reports created by MRFR detail the developments of the industry that can be expected in the market through the forecast period. The global market is anticipated to grow at a 30.2% CAGR in the forecast period.
The benefits of a simulated environment in education and other non-physical aspects such as visiting a particular place are estimated to raise the requirement for AR & VR in healthcare market companies in the upcoming years. Furthermore, its role in the rehabilitation of patients and aiding new medical practitioners to hone their skills is estimated to be key areas for development in AR & VR in healthcare market in the future.
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Segmental Analysis
The segmental study of the AR & VR in healthcare market is segmented based on offering, technology, application, end-user, device type, and region. The device type segment of the market is divided into VR device type and AR device type. The application segment of the market is segmented into patient care management, fitness management, surgery, pharmacy administration, medical training, and education. The offering segment of the market is segmented into software and hardware components. The end-user segment of the market is segmented into surgical complexes, clinics, pharmaceutical companies, hospitals, research, and academic institutes. The region segment of the market comprises of the Middle East, Asia Pacific, Africa, Europe, and the Americas. The technology segment of the market is split into AR technology and VR technology.
Detailed Regional Analysis
The regional study of the market comprises of regions such as the Middle East, Asia Pacific, Africa, Europe, and the Americas. The Americas market dominated the global market due to the intensifying call to reduce healthcare cost. The European regional market stood second in the market, which can be credited to the rising backing for innovation and growing technological signs of progress. The Asia Pacific market was anticipated to be the speediest growing region in the international market because of the growing healthcare spending and high commonness of chronic diseases are likely to drive the regional market of the Asia Pacific region. The least segment in the market was held by Middle Eastern and African regions owing to the minimal per capita income and inflexible government rules, particularly inside the African region.
Competitive Analysis
The market landscape is estimated to be redefined by the absorption of smaller companies or startups as well as mergers between market titans to enhance their overall pull on the global market progress. The government support to the rebuilding of economic growth momentum is estimated to be increased than the past few years. The toll on the health and mental wellbeing of the workers in the market is estimated to have a notable impact on the resurgence of the market’s expansion in the upcoming years. The upcoming products in the market are estimated to have a notable influence on the pandemic in terms of germicidal properties that can be observed in the coming period. The market is predicted to be driven by the effects of the COVID-19 pandemic, by ensuring that businesses can counteract situations like these in the future. The investment in sustainable technologies and product options is predicted to reign over the next phase of market development strategies in the forecast period.
The central companies in the market are Augmedix, Daqri, Psious, EchoPixel, Inc., Firsthand Technology, Orca Health, Inc., 3D Systems, Inc., Google, Medical Realities, Microsoft, Mindmaze, Oculus VRAtheer, Osso VR Inc., SURGICAL THEATER, LLC, Hologic Inc., and others.
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Industry Updates:
Feb 2021 Elsevier, a worldwide leader in research publication and information analytics, announced the presentation of the Simulation Learning System (SLS) for RN with Virtual Reality a novel digital solution that unites cutting-edge virtual reality technology from SimX with the world-class healthcare subject of Elsevier to bring accurate and very effective VR simulations to nursing schools. Elsevier is associating with SimX, for healthcare professionals, to present nursing schools the capability to enable clinical simulations as they would in a conventional simulation lab.
Jan 2021 Academics at the University of Florida have formed virtual reality (VR) software to aid medical specialists in de-stress from the stresses of work and the contagion. The app is named DREAMS, which is short for Digital Rehabilitation Environment Augmenting Medical System. The app makes virtual lounges of picturesque spots, which manipulators can visit via a VR headset. The user puts on headphones to listen to soothing music and breathing maneuvers, as well as a circlet to screen their brain wave activity.
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