Augmented Reality In Health Care Market Overview: Market Size, Major Drivers And Trends
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The augmented reality in health care market has witnessed exponential growth, surging from $2.38 billion in 2023 to $3.11 billion in 2024, reflecting a remarkable compound annual growth rate (CAGR) of 30.6%. The historical period’s growth can be attributed to advancements in surgical procedures, medical training and education, patient care and treatment planning, remote assistance, telemedicine, and enhancements in diagnostic imaging. Projecting into 2028, the market is poised for continued exponential growth, anticipating a valuation of $9.49 billion at a CAGR of 32.2%. Key trends in the forecast period include widespread adoption in rehabilitation, expanded use in mental health treatment, increased patient engagement and adherence, augmented reality-based diagnostic imaging, pharmaceutical research and development, as well as the integration of augmented reality wearables for health monitoring with electronic health records (EHR).
The increasing geriatric population is expected to propel the growth of augmented reality in the healthcare market over the coming years. The elderly population is increasing rapidly across the world, and it is expected to continue over the forecast period. The older population is prone to several diseases and ailments that require surgery. The use of AR in surgeries allows surgeons to visualize a patient’s anatomy side by side with their MRI and CT scan data. For instance, according to the Physical Review B (PRB) Journal, by 2060, the number of Americans aged 65 and above is expected to nearly quadruple to 95 million, accounting for 23% of the total population. Therefore, the increasing geriatric population drives the augmented reality in healthcare market growth. The market size for 2023, 2024, and 2028 is not provided.
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What Are The Key Trends That Influence Augmented Reality In Health Care Market Share Analysis?
New product launches are shaping AR in the healthcare market. Major companies operating in the AR in the healthcare sector are focused on product innovations for AR in healthcare to improve treatment accuracy. For instance, in July 2022, Enovis, a Netherlands-based medical technology company, launched ARVIS, an augmented reality visualization and information system, with over 200 successful cases completed in the US. This FDA-cleared system stands out as the sole proprietary, hands-free augmented reality (AR) technology crafted specifically for orthopedic surgeons. It offers real-time, precise guidance during hip and knee surgeries, empowering surgeons to visualize and execute procedures with augmented support. ARVIS aims to equip surgeons with improved information, heightened confidence, and a more integrated surgical experience, seamlessly integrating into their workflow without the requirement for intrusive or superfluous equipment.
Which Market Players Are Driving Growth In The Augmented Reality In Health Care Market?
Major companies operating in the augmented reality in health care market report are Google LLC, Microsoft Corporation Inc., Sony Corporation, Siemens Healthineers, Koninklijke Philips N.V., 3D Systems Corporation, Magic Leap Inc., Augmedics Ltd., Augmedix Inc., AccuVein Inc., VirtaMed AG, BioDigital Inc., Vuzix Corporation, Karuna Labs Inc., AppliedVR Technology, Osterhout Design Group Inc., Atheer Inc., EchoPixel Inc., Medsight Solutions LLC, FundamentalVR Ltd., Augmented Intelligence Inc., seeCOLe LLC, DAQRI Inc., Nanome Inc., Brain Power Inc., OxfordVR Ltd., Health Scholars Inc., MediView XR Inc., ARToolworks Inc., CAE Healthcare Inc.
How Is The Global Augmented Reality In Health Care Market Segmented?
The augmented reality in health care market covered in this report is segmented –
1) By Product: Hardware, Software
2) By Technology: Wearable, Vision-Based, Spatial, Mobile Device-Based
3) By Device Type: Head-Mounted Displays, Handheld Devices, Other Device Types
4) By End-User: Hospitals And Clinics, Research Laboratories, Other End Users
Read The Full Augmented Reality In Health Care Market Report Here
The Augmented Reality In Health Care Global Market Report 2024 provides an overview of the augmented reality in health caremarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The augmented reality in health care market forecast analyzes augmented reality in health care market size, augmented reality in health care market share, leading competitor and their market positions.
The Table Of Content For The Augmented Reality In Health Care Market Include
1. Augmented Reality In Health Care Market Executive Summary
2. Augmented Reality In Health Care Market Segments
3. Augmented Reality In Health Care Market Size And Template Market Growth Rate
4. Key Augmented Reality In Health Care Market Trends
5. Major Augmented Reality In Health Care Market Drivers
……
25. Key Mergers And Acquisitions In The Augmented Reality In Health Care Market
26. Top Augmented Reality In Health Care Companies
27. Augmented Reality In Health Care Market Opportunities And Strategies
28. Augmented Reality In Health Care Market, Conclusions And Recommendations
29. Appendix
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