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Global Augmented Reality & Virtual Reality in Healthcare Market is valued approximately USD 2.20 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 26.57% over the forecast period 2021-2027. Augmented reality is the mixing of digital information with the user’s environment in real time. Typically, digital information is superimposed over a natural existing environment. On the other hand, Virtual reality creates a totally artificial environment. a computer-generated simulation in which a person can interact within an artificial 3-D environment with the help of electronic devices. In healthcare, AR and VR helps in creating rich, interactive experiences that can demonstrate how new drugs and medical devices interact with the body. It also helps in areas such as patient and doctor education, surgical visualization, and disease simulation. There is a high demand for assisting systems like AR and VR due to increased stress on public health systems. Above mentioned advantages, coupled with the government initiatives to increase public health accessibility to the remotest areas, are driving the Augmented Reality & Virtual Reality in Healthcare market. According to World health organization, the global spending on healthcare is continually rising. It was US$ 7.8 trillion in 2017, up from US$ 7.6 trillion in 2016 worldwide. About 60% of this expenditure was public and 40% was from private sector. The health sector continues to expand faster than the global economy. The Indian government in Budget 2021 increased the overall outlay to health and wellbeing to nearly 2.25 trillion rupees, an increase of more than 135% over last year budget. The increased healthcare spending worldwide will help in propelling the growth of Augmented Reality & Virtual Reality in the sector. Augmented reality as well as virtual reality are expensive and complex in nature, which may act as a restraint for its growth. However, market is still in nascent stage and innovations and exploration of field acts as an opportunity for Augmented Reality & Virtual Reality in Healthcare Market in subsequent decade.
Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Augmented Reality & Virtual Reality in Healthcare Market. Due to faster adoption by healthcare companies of new technologies as well as higher per capita income, North America is the significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit highest growth rate for the forecast period 2021-2027 owing to the increasing expenditure on healthcare by developing countries. New tech-startups working in healthcare domains will also boost growth in this region.
Major market player included in this report are:
CAE Healthcare
Siemens Healthineers
Philips Healthcare
Hologic, Inc.
EON Reality
Intuitive Surgical, Inc.
GE Healthcare
LAYAR
WorldViz
TheraSim Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Hardware
Software
Service
By Technology:
Augmented reality
Virtual Reality
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Augmented Reality & Virtual Reality in Healthcare Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Augmented Reality & Virtual Reality in Healthcare Market, by Component, 2019-2027 (USD Billion)
1.2.2. Augmented Reality & Virtual Reality in Healthcare Market, by Technology, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Augmented Reality & Virtual Reality in Healthcare Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Augmented Reality & Virtual Reality in Healthcare Market Dynamics
3.1. Augmented Reality & Virtual Reality in Healthcare Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increased technology adoption in healthcare sector
3.1.1.2. Ease of visualisation with Augmented reality and Virtual reality
3.1.2. Market Challenges
3.1.2.1. Expensive and complex nature of AR and VR
3.1.3. Market Opportunities
3.1.3.1. New innovations in Augmented reality area
Chapter 4. Global Augmented Reality & Virtual Reality in Healthcare Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Augmented Reality & Virtual Reality in Healthcare Market, by Component
5.1. Market Snapshot
5.2. Global Augmented Reality & Virtual Reality in Healthcare Market by Component, Performance – Potential Analysis
5.3. Global Augmented Reality & Virtual Reality in Healthcare Market Estimates & Forecasts by Component 2018-2027 (USD Billion)
5.4. Augmented Reality & Virtual Reality in Healthcare Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software
5.4.3. Service
Chapter 6. Global Augmented Reality & Virtual Reality in Healthcare Market, by Technology
6.1. Market Snapshot
6.2. Global Augmented Reality & Virtual Reality in Healthcare Market by Technology, Performance – Potential Analysis
6.3. Global Augmented Reality & Virtual Reality in Healthcare Market Estimates & Forecasts by Technology 2018-2027 (USD Billion)
6.4. Augmented Reality & Virtual Reality in Healthcare Market, Sub Segment Analysis
6.4.1. Augmented reality
6.4.2. Virtual Reality
Chapter 7. Global Augmented Reality & Virtual Reality in Healthcare Market, Regional Analysis
7.1. Augmented Reality & Virtual Reality in Healthcare Market, Regional Market Snapshot
7.2. North America Augmented Reality & Virtual Reality in Healthcare Market
7.2.1. U.S. Augmented Reality & Virtual Reality in Healthcare Market
7.2.1.1. Component breakdown estimates & forecasts, 2018-2027
7.2.1.2. Technology breakdown estimates & forecasts, 2018-2027
7.2.2. Canada Augmented Reality & Virtual Reality in Healthcare Market
7.3. Europe Augmented Reality & Virtual Reality in Healthcare Market Snapshot
7.3.1. U.K. Augmented Reality & Virtual Reality in Healthcare Market
7.3.2. Germany Augmented Reality & Virtual Reality in Healthcare Market
7.3.3. France Augmented Reality & Virtual Reality in Healthcare Market
7.3.4. Spain Augmented Reality & Virtual Reality in Healthcare Market
7.3.5. Italy Augmented Reality & Virtual Reality in Healthcare Market
7.3.6. Rest of Europe Augmented Reality & Virtual Reality in Healthcare Market
7.4. Asia-Pacific Augmented Reality & Virtual Reality in Healthcare Market Snapshot
7.4.1. China Augmented Reality & Virtual Reality in Healthcare Market
7.4.2. India Augmented Reality & Virtual Reality in Healthcare Market
7.4.3. Japan Augmented Reality & Virtual Reality in Healthcare Market
7.4.4. Australia Augmented Reality & Virtual Reality in Healthcare Market
7.4.5. South Korea Augmented Reality & Virtual Reality in Healthcare Market
7.4.6. Rest of Asia Pacific Augmented Reality & Virtual Reality in Healthcare Market
7.5. Latin America Augmented Reality & Virtual Reality in Healthcare Market Snapshot
7.5.1. Brazil Augmented Reality & Virtual Reality in Healthcare Market
7.5.2. Mexico Augmented Reality & Virtual Reality in Healthcare Market
7.6. Rest of The World Augmented Reality & Virtual Reality in Healthcare Market
Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. CAE Healthcare
8.2.1.1. Key Information
8.2.1.2. Overview
8.2.1.3. Financial (Subject to Data Availability)
8.2.1.4. Product Summary
8.2.1.5. Recent Developments
8.2.2. Siemens Healthineers
8.2.3. Philips Healthcare
8.2.4. Hologic, Inc.
8.2.5. EON Reality
8.2.6. Intuitive Surgical, Inc.
8.2.7. GE Healthcare
8.2.8. LAYAR
8.2.9. WorldViz
8.2.10. TheraSim Inc.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption
The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.
Primary Research Sources:
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