FREMONT, California,
April 12, 2019 /PRNewswire/ --
According to the new market intelligence report by BIS Research,
titled "Global Augmented Reality (AR) and Virtual Reality (VR)
Market in Healthcare - Analysis and Forecast, 2019-2025", the
global AR and VR in healthcare market generated $1.08 billion in 2018, and is estimated to grow
over $11.14 billion by 2025, growing
at a CAGR of 39.52% between 2019 and 2025. This growth of the
market is primarily driven by the increasing need for AR-based
surgeries. Consequently, software is the largest sub-segment of the
global AR and VR in the healthcare market, due to an increasing
requirement by the surgeons for better visualization of 3D
anatomical structures for enhanced and precise surgeries.
Browse 21 Market Data Tables and 109 Figures spread through
209 Pages and in-depth TOC on "Global AR and VR Market in
Healthcare"
The growth of global AR and VR market in the healthcare industry
has been dependent on their increasing application for better
patient experience, therapeutics, training of medical students, and
advanced medical procedures. AR applications are compatible across
various platforms including iOS, Android, and Windows and the cost
of app development varies between $50,000 and $250,000, accordingly.
AR enables gathering and presentation of data in 3D format. For
instance, the anatomical data of a human body is stored digitally
(in a hardware or memory card), and aids in presenting the data in
3D view. The healthcare specialist can view the anatomical
structures of their patients in 3D format, based on the data
collected through MRI and CT scans, via an AR headset before
planning the medical procedure.
VR employs computer-assisted technology to construct a simulated
virtual environment. Presently, VR-based technology is dominating
the market through various industries such as healthcare,
education, architecture, and defense. The development costs for VR
games and VR apps are very different. For the development of a VR
app, the cost can range between $40,000 to $75000;
and for VR games, the cost ranges from $50,000 to $100,000.
With the expansion in therapeutic imaging activities, oncology
experts are also embracing computerized-reality advancements such
as AR and VR. For instance, VR enables specialists and
doctors to view precise images of body structures without invasive
methods, making diagnostics an easy process also for the patients.
Moreover, AR can be utilized for amplified imaging of tumor during
chemotherapy.
BIS Research Report:
https://bisresearch.com/industry-report/augmented-reality-virtual-reality-healthcare.html
According to Swarup
Chakrabarty, Analyst at BIS Research,
"North America held the
largest share of the market in 2018 and accounted for over 44.08%
of the revenue share owing to huge investments made by public and
private companies for the adoption of innovative solutions, such as
AR and VR. However, Asia-Pacific
is projected to be the fastest-growing market and is anticipated to
grow at a CAGR of over 33.6% from 2018 to 2025."
Research Highlights:
- With innovations in AR and VR, and in the application of these
technologies in healthcare market, the chance of surgical error
reduces significantly. Currently, numerous healthcare organizations
have been building up a virtual reality framework. For instance,
Fundamental VR has built up a framework for knee replacement
medical procedure, enabling doctors to rehearse how to infuse
sedatives during the medical procedure accurately.
- Navigation is an important element of surgeries, which includes
a real-time view of high-quality pictures with the help of
head-mounted displays. For example, DXC technology is investing in
research in the field of AR & VR for 3D images, head-tracking
capability, and joystick interface.
- Virtual reality exposure therapy (VERT) is one of the new-age
technologies where VR can be applied to exposure therapy, one of
the most prominent therapeutics for treating mental illness such as
anxiety disorders and for treating remotely-located patients.
- VR technology has also been found useful in detecting a
patient's level of comfort before surgery, which could be helpful
during the surgical process. Canada-based anesthetist, Dr. Fahad Alam applied VR for learning the intensity
of the patient's nervousness before surgery with the help of
360-degree cameras. Dr. Alam and his research team at the
University of Toronto created a virtual
experience to understand how the patient feels before surgical
procedures.
Request for a Sample:
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The market intelligence report provides a multidimensional view
of the global AR and VR technology in the healthcare market in
terms of market size and growth potential. This research report
aims at answering various aspects of the global AR and VR in
healthcare market with the help of key factors driving the market,
threats that can inhibit the overall growth of the market, and the
current growth opportunities that are expected to shape the future
trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report
explains the competitive nature of the global market and enables
the reader to get acquainted with the recent market activities such
as product launches, regulatory clearance, certifications,
partnerships, collaborations, business expansions as well as
mergers and acquisitions. The research report provides a
comprehensive analysis of the product sales and manufacturers and
trend analysis by segments and demand analysis by regions.
This report is a meticulous compilation of research on more than
50 players in the market ecosystem and draws upon insights from
in-depth interviews with the key opinion leaders of more than 10
leading companies, market participants, and vendors. The report
also profiles 15 key companies, namely, Alphabet Inc., Atheer,
Augmedix, CAE Healthcare, DAQRI LLC, Echopixel, Firsthand
Technology, Koninklijke Philips N.V., Medical Realities, Microsoft
Corporation, Mindmaze, Orca Health, OssoVR, Psious, Surgical
Theater.
Key questions answered in the report:
- What are the major market drivers, challenges, and
opportunities in the global augmented Reality (AR) and virtual
Reality (VR) in healthcare market?
- What are the underlying structures resulting in the emerging
trends within the global AR and VR in healthcare market?
- How are the sub-segments of the component type segment, such as
hardware, software, and services of the global AR and VR in
healthcare market expected to grow during the forecast period and
what is the anticipated revenue generated by each of the
sub-segments by the end of 2025?
- How are the sub-segments of the end-user segment, such as
hospitals and clinics, diagnostic centers, academic institutes, and
medical research organizations of the global AR and VR in
healthcare market expected to grow during the forecast period and
what is the anticipated revenue generated by each of the
sub-segments by the end of 2025?
- How are the sub-segments of the application segment, such as
surgical planning, training, and navigation, behavioral
neurology/rehabilitation, pain management, and others, of the
global AR and VR in healthcare market expected to grow during the
forecast period and what is the anticipated revenue generated by
each of the sub-segments by the end of 2025?
- What are the significant development strategies implemented by
the major players in order to sustain the competition present in
the market?
- Who are the leading players with significant offerings to the
global AR and VR in the healthcare market? What are the
contributions of the leading players for the growth of the
market?
- What is the expected compound annual growth rate (CAGR)
expected to be witnessed by the leading players in the market
during the forecast period 2019-2025?
- What are the major technological as well as regional trends to
be adopted pertaining to the global AR and VR in healthcare
market?
- What are the major technologies employed in the global AR and
VR in healthcare market? Which is the most dominating
technology?
- What is the growth potential of the global AR and VR healthcare
market in North America,
Europe, Asia-Pacific, Latin
America, and Rest-of-the-World?
Related Reports
Global Augmented Reality and Virtual Reality Market - Analysis
& Forecast, 2016-2022
About BIS Research:
BIS Research is a global B2B market intelligence and
advisory firm focusing on those emerging technological trends which
are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS
Research focuses on high technology verticals such as 3D Printing,
Advanced Materials and Chemicals, Aerospace and Defense,
Automotive, Healthcare, Electronics and Semiconductors, Robotics
and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market
estimations, technology analysis, emerging high-growth
applications, deeply segmented granular country-level market data,
and other important market parameters useful in the strategic
decision-making for senior management.
What distinguishes BIS Research from the rest of the players is
that we don't simply provide data but also complement it with
valuable insights and actionable inputs for the success of our
clients.
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Bhavya Banga
Email: media@bisresearch.com
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