Augmented and Virtual Reality in Healthcare Market Size to Reach USD 4367 Million by 2027 at CAGR 23.6% - Valuates Reports

BANGALORE, India, Oct. 29, 2021 /PRNewswire/ -- The Augmented and Virtual Reality in Healthcare Market is Segmented by Type (Semiconductor Components, Sensors), Application (Pharmacy benefit management, Rehabilitation and Therapeutics, Patient Care Management, Surgical and Diagnostic Imaging, Medical Training, Fitness Management, Education, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Engineering & Technology Category.

The global Augmented and Virtual Reality in Healthcare Market size are projected to reach USD 4367 Million by 2027, from USD 962.6 Million in 2020, at a Compound Annual Growth Rate (CAGR)of 23.6% during the forecast period 2021-2027.

Major Factors Driving The Growth Of Augmented And Virtual Reality In Healthcare Market Are:

Some of the fundamental factors expected to boost the growth of Augmented and Virtual Reality in the Healthcare Market include technological advancements and digitalization in healthcare, favorable government initiatives, rising healthcare expenditure, growing usage in surgical procedures, and medical training.

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Trends Influencing The Growth Of The Global Augmented And Virtual Reality In Healthcare Market

Surgical and diagnostic procedures are increasingly using augmented and virtual reality approaches. Virtual reality is used in systems like touch surgery to provide a view of the patient's anatomy and physiology, giving surgeons more options in the operating room. Thus the increasing use of AR & VR in surgical and diagnostics procedures are the primary reasons driving Augmented and virtual reality in healthcare market expansion.

Healthcare organizations use VR and AR technologies to improve their customers' experiences by effectively engaging them in healthcare activities. As a result, the application of AR and VR technologies to improve patient experience is likely to fuel the Augmented and virtual reality in healthcare market growth.

AR is being widely embraced for medical personnel education and training, which is projected to fuel the expansion of Augmented and virtual reality in the healthcare market. Because AR-based learning modules include anatomical imagery and simulation, they provide a more comprehensive learning experience for medical professionals. Furthermore, these learning modules are utilized to instruct patients and assist them in better understanding the therapy flow and care management. During difficult procedures, AR-based picture viewing aids surgeons and improves their accuracy and precision. Furthermore, VR technological solutions are widely used in telemedicine, anatomy visualization, and diagnostics. 

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Augmented And Virtual Reality In Healthcare Market Share Analysis

Based on region, North America is expected to be the most lucrative region during the forecast period. Higher adoption of these technologies, investment in R&D efforts, and favorable government measures are all driving growth in this region. The US government's National Institute of Health is providing funding for virtual reality research with a focus on healthcare applications.

Based on application, Patient Care Management is expected to be the most lucrative segment. The application of augmented reality and virtual reality in therapies and rehabilitation would improve the market for augmented reality in healthcare and virtual reality in healthcare. Among the uses for rehabilitation are brain damage, stroke, and physical therapy.

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Major Players in the Augmented Reality and Virtual Reality in Healthcare Market

• Philips Healthcare
• Simulaids
• GE Healthcare
• Virtual realities
• Intuitive Surgical
• WorldViz
• CAE Healthcare
• TheraSim
• Siemens Healthcare
• Vital Images
• Laerdal Medical

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SIMILAR REPORTS 

-  The augmented and virtual reality market size was valued at USD 14.84 Billion in 2020 and is projected to reach USD 454.73 Billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 40.7%.

-  The U.S. augmented and virtual reality market size was valued at USD 4.39 Billion in 2020, and is projected to reach USD 134.76 Billion by 2030, registering a CAGR of 41.6% from 2021 to 2030

-  The global Augmented Reality Market size is projected to reach USD 3664.5 Million by 2026, from USD 849 Million in 2019, at a CAGR of 27.6% during 2020-2026

-  The global Augmented Reality in Healthcare market size is projected to reach USD 1815.2 Million by 2027, from USD 746.8 Million in 2020, at a CAGR of 13.0% during 2021-2027.

-  The global Artificial Intelligence in Healthcare market size is projected to reach USD 31960 Million by 2027, from USD 2729.4 Million in 2020, at a CAGR of 41.5% during 2021-2027.

-  The global IoT Healthcare market size is projected to reach USD 222260 Million by 2027, from USD 53340 Million in 2020, at a CAGR of 22.1% during 2021-2027.

-  The global Big Data Analytics in Healthcare market size is projected to reach USD 20910 Million by 2026, from USD 8965.4 Million in 2019, at a CAGR of 12.4% during 2021-2026.

-  Mixed Reality in Healthcare Market contains segmentation By Type (AR Devices, VR Devices), By Application (Surgery, Patient Care Management, Pharmacy Management, Fitness Management, Medical Training & Education) and Regional

-  Virtual Reality in Healthcare Market contains segmentation By Type (Virtual Reality Software, Virtual Reality Hardware), By Application (Hospitals, ASCs, Others) and Regional

-  The U.S. Patient Monitoring Systems Market was valued at USD 12,200.96 Million in 2019, and is projected to reach USD 22,583.40 Million by 2027, registering a CAGR of 5.21% from 2020 to 2027.

-  The global mHealth Apps market size is projected to reach USD 101,550 Million by 2026, from USD 30,160 Million in 2019, at a CAGR of 18.4% during the forecast period 2021-2026.

-  The global healthcare payer services market was valued at USD 19,409.52 Million in 2019, and is projected to reach USD 41,906.64 Million by 2027, registering a CAGR of 10.6% from 2020 to 2027.

-  The global Healthcare Supply Chain Management market size is projected to reach USD 4225.6 Million by 2027, from USD 2267.5 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period 2021-2027

-  The global Healthcare Business Intelligence market size is projected to reach USD 8379.9 Million by 2027, from USD 4205.7 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 9.9% during the forecast period 2021-2027.

-  The global telemedicine market size was valued at USD 40,205.68 Million in 2020 and is estimated to reach USD 431,823.81 Million by 2030, growing at a CAGR of 25.90% from 2021 to 2030.

-  The global Hospital Asset Tracking and Inventory Management Systems market size is projected to reach USD 23650 Million by 2027, from USD 18880 Million in 2020, at a CAGR of 2.8% during 2021-2027.

-  Global Prescribed Health Apps Market Size, Status and Forecast 2021-2027

-  Healthcare Analytics Market Report, Global Opportunity Analysis and Industry Forecast, 2021–2030

-  Global Healthcare Consulting Services Market Size, Status and Forecast 2021-2027

-  Global Connected Healthcare Market Size, Status and Forecast 2021-2027

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