The augmented and virtual reality in healthcare market was valued at USD 769.2 million in 2017 and is expected to reach USD 4,997.9 million by 2023, at a CAGR of 36.6% during the forecast period.
The increasing penetration of connected devices in the healthcare sector, increased investment in the healthcare AR and VR, and the growing need to reduce the healthcare cost are the major drivers for the market for augmented reality in healthcare and virtual reality in healthcare. The lack of competence in the deployment of AR and VR solutions and the lack of expertise among medical practitioners to adopt new technologies are the major restraints for augmented reality in healthcare and virtual reality in healthcare.
The rising interest of people in AR and VR is the major driver of patient-care management application in the market for augmented reality in healthcare and virtual reality in healthcare. The use of new technologies such as AR and VR would indeed be helpful for patients to remotely seek a doctor's consultation. The increase in the use of AR and VR for therapies and rehabilitation is expected to drive the augmented reality in healthcare and virtual reality in healthcare market for patient-care management.
Research and diagnostics laboratories run more tests than any other medical testing facilities. The use of AR and VR is expected to help these laboratories increase efficiency by collecting samples and data from remote locations in real time. High- and medium-volume laboratories can use these services to automate testing processes and remotely monitor the equipment. Research laboratories are involved in the rigorous research work in the development of AR and VR. The increased interest of the research labs in AR and VR is expected to drive the market for augmented reality in healthcare and virtual reality in healthcare.
APAC has witnessed an increasing adoption of the latest technologies due to the presence of most of the display panel manufacturers in the region. Fitness management, patient care management, and pharmacy management are expected to contribute substantially to the growth of augmented reality in healthcare and virtual reality in healthcare market in APAC. These applications offer a huge potential for AR and VR players in the healthcare market to grow, because of the increasing awareness among healthcare providers and the rising adoption of new technologies in various industries-especially in China, India, and South Korea.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts in the augmented and virtual reality industry.
The report also profiles the key players in the market for augmented reality in healthcare and virtual reality in healthcare.
These key players are Google (US), Microsoft (US), DAQRI (US), Psious (Spain), Mindmaze (Switzerland), Firsthand Technology (US), Medical Realities (UK), Atheer (US), Augmedix (US), and Oculus VR (US).
Key Topics Covered:
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Study Scope 1.4 Currency 1.5 Limitations 1.6 Stakeholders
2 Research Methodology 2.1 Research Data 2.2 Market Size Estimation 2.3 Market Breakdown & Data Triangulation 2.4 Research Assumptions
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities for the AR and VR in Healthcare Market 4.2 AR and VR in Healthcare Market in APAC 4.3 AR and VR in Healthcare Market: Developed vs Developing Markets, 2017 and 2023 (USD Million) 4.4 AR and VR in Healthcare Market, By Country (2017-2023) 4.5 AR and VR in Healthcare Market, By Application 4.6 VR in Healthcare Market, By Device Type
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 188.8.131.52 Increasing Penetration of Connected Devices in the Healthcare Sector 184.108.40.206 Increased Investment in the Healthcare AR and VR 220.127.116.11 Growing Need to Reduce the Healthcare Costs 5.2.2 Restraints 18.104.22.168 Lack of Competence in Deployment of the AR and VR Solutions 22.214.171.124 Lack of Expertise Among Medical Practitioners to Adopt New Technologies 5.2.3 Opportunities 126.96.36.199 Increasing Demand for AR and VR in Emerging Markets 188.8.131.52 Increased Use of AR and VR in Fitness Management 5.2.4 Challenges 184.108.40.206 Overcoming Social Challenges 220.127.116.11 Concerns Regarding Data Privacy 18.104.22.168 Lack of Compatibility and Interoperability Between AR and VR Solutions Offered By Different Vendors 5.3 Value Chain Analysis 5.4 Technologies in AR and VR 5.4.1 AR Technology 22.214.171.124 Marker-Based AR 126.96.36.199.1 Passive Marker 188.8.131.52.2 Active Marker 184.108.40.206 Markerless AR 220.127.116.11.1 Model-Based Tracking 18.104.22.168.2 Image Processing-Based Tracking 5.4.2 VR Technology 22.214.171.124 Nonimmersive Technology 126.96.36.199 Semi-Immersive and Fully Immersive Technologies
6 AR and VR in Healthcare Market, By Offering 6.1 Introduction 6.2 Hardware 6.3 AR and VR Hardware Components 6.3.1 Sensors 188.8.131.52 Accelerometer 184.108.40.206 Gyroscope 220.127.116.11 Magnetometer 18.104.22.168 Proximity Sensor 6.3.2 Semiconductor Component 22.214.171.124 Controller/Processor 126.96.36.199 Integrated Circuits 6.3.3 Displays and Projectors 6.3.4 Position Tracker 6.3.5 Cameras 6.3.6 Others 6.4 Software 6.4.1 Software Development Kits 6.4.2 Cloud-Based Services
7 AR and VR Healthcare Market, By Device Type 7.1 Introduction 7.2 AR Healthcare Market, By Device Type 7.2.1 Head-Mounted Display 7.2.2 Handheld Device 7.3 VR Healthcare Market, By Device Type 7.3.1 Head-Mounted Display 7.3.2 Gesture-Tracking Device 188.8.131.52 Data Gloves 184.108.40.206 Others 7.3.3 Projectors and Display Walls
8 AR and VR Healthcare Market, By End User 8.1 Introduction 8.2 Hospitals, Clinics, and Surgical Centers 8.3 Research Organizations and Pharma Companies 8.4 Government and Defense Institutions 8.5 Research and Diagnostics Laboratories 8.6 Others
9 AR and VR Healthcare Market, By Application 9.1 Introduction 9.2 Surgery 9.3 Fitness Management 9.4 Patient Care Management 9.5 Pharmacy Management 9.6 Medical Training and Education 9.7 Others
10 Geographic Analysis
11 Competitive Landscape 11.1 Introduction 11.2 Competitive Scenario 11.2.1 Battle for Market Share: Product Launches and Developments Were the Key Strategies Between 2013 and 2017