Augmented Reality and Virtual Reality in Healthcare Market Insights:

The Augmented reality and virtual reality in healthcare market is projected to grow at a significant pace reaching a CAGR of approximately 27.5%, over the forecast period of 2022–2030, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.

Augmented reality and virtual reality in healthcare is a technology integration method that allows medical professionals to utilize essential simulations which aid in performing complex surgeries such as bariatric surgeries, craniological surgeries, abdominal surgeries, and others. This facilitates the efficiency rates of surgeries by practicing multiple surgical techniques on the simulators.

According to a new study by Market Research Community, the market for augmented reality and virtual reality in healthcare market is projected to develop from USD 2.69 billion in 2021 to USD 23.9 billion by 2030.

The medical training and education segment is estimated to witness significant growth during the projected period. The factors such as the immersive experience of patient body anatomy from different scales and angles and increased opportunities for medical professionals to learn the best surgical practices to reduce the risks of surgical mistakes are expected to support the growth of the medical training and education segment.

Europe is projected to contribute the largest share to the augmented reality and virtual reality in the healthcare market during the forecast period. The factors such as expanding venture capital investments, high adoption of innovative technologies such as AR & VR in medical facilities, and rising expenditure on research and development of technologies, especially virtual reality, in the healthcare system support the market growth in the European region.

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The study is categorized into major segments and further into sub-segments, such as by component (hardware, software, and services), by application (pain management, medical training and education, pharmacy management and surgery), by technology (augmented reality, virtual reality), by end-use (hospital, clinics, surgical centers, research organizations, pharma companies), to forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.                  

Further, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Medical Realities, Atheer, Augmedix, GE Healthcare, Koninklijke Philips N.V., Intuitive Surgical, Siemens Ltd, Bioflight VR, WorldViz, TheraSim Inc, Mindmaze.

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