Augmented Reality and Virtual Reality Market in He

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Global Outlook and Forecast 2018-2023

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This market research report on the healthcare augmented reality (AR) and virtual reality (VR) market offers analysis on the market size and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights about segmentation by applications (AR (surgeries, rehabilitation, and training and medical education) and VR (simulation, diagnostics, rehabilitation, pain distractions, and VRET)), technology (AR and VR), component (hardware and software), and geography (North America, APAC, Europe, and ROW).

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Overview

The increasing number of diabetic, HIV, and dementia patients and the high prevalence of chronic diseases around the globe are driving the expenditure in the healthcare industry. The implementation of internet analytics and IT lead innovations is fueling the development of the augmented reality and virtual reality market in the healthcare industry. Technological innovations help improve cost-effectiveness, offer better communication between the patient and the doctor, provide easy exchange of reports, improve tracking of the patient’s health, and offer better workforce training. The increasing investments in developing digital healthcare technologies are creating new opportunities for vendors in the global AR and VR market in healthcare. The launch of innovative technology such as next-generation sequencing (NGS), 3D-printing, immunotherapy, artificial intelligence (AI), point-of-care diagnostics (POC), virtual reality (VR), augmented reality (AR), biosensors and trackers, convenient care, and telehealth will help enhance the consumer experience and offer better patient care.

The growing demand for AR and VR technology in the healthcare market will create new opportunities for leading vendors in the market. The convenience of training and the easy transfer of information are driving the growth of augmented reality (AR) and virtual reality (VR) market in the healthcare industry. The AR and VR market in healthcare is anticipated to generate revenue of about $3,038 million in 2023, growing at an impressive CAGR of more than 31% during the forecast period.

Global AR & VR Market Size in Revenue

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Dynamics

The introduction of innovative technology and advanced medical devices helps reduce healthcare spending and saves time. The introduction of virtual healthcare applications efficiently handles patient care and offers superior services through the telemedicine platform. The implementation of such advanced and innovative technology will drive the growth of the AR and VR market in healthcare. The increasing use of augmented reality and virtual reality in the healthcare sector helps reduce medical training costs significantly and revolutionizes surgical procedures in the global industry. Diagnosis and medical history of the patient are now stored on smart wearables and can be accessed from remote locations. Such advancement will augment the development of the global AR and VR market in healthcare during the forecast period.

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare Segmentation

This market research report includes a detailed segmentation of the market by applications, technology, component, and geography.

Segmentation of Augmented Reality & Virtual Reality Market in Healthcare

Segmentation of Augmented Reality and Virtual Reality Market in Healthcare - AR & VR Market

 

AR and VR Market in Healthcare – By Component

Introduction of innovative hardware devices to boost sales in the AR and VR market in healthcare during forecast period

The components segment in the AR and VR market in healthcare include hardware and software. The hardware segment dominated the global AR and VR market in healthcare accounting for around 67% of the total market share in 2017. The hardware component in the AR and VR market in healthcare consists of desktops, smartphones, head-mounted displays (HMDs), tablets, smart glasses, and other connected devices. The growing adoption of augmented reality (AR) and virtual reality (VR) devices helps in simulation, visualizations, analysis of data, recording video, telemedicine, telemonitoring, and assist doctors during surgeries and help in the rehabilitation process. Some of the leading hardware vendors in the AR and VR market in healthcare are Oculus Rift, HTC Vive, Samsung Gear VR, Google Glass, Microsoft HoloLens, ODG R-8, and Epson Moverio.

AR and VR Market in Healthcare – By Technology

The emergence of big data, cloud technologies, and network connectivity to augment the growth of the AR and VR market in healthcare

The AR and VR market in healthcare by technology is classified into AR and VR. The AR technology segment dominated the AR and VR market in healthcare growing at an exponential CAGR of close to 30% during the forecast period. Factors such as easy communication between doctors and patients, medical education, and corporate communication and sales are boosting the adoption of AR technology in the global AR and VR market in healthcare. Medical professionals in the global market are using augmented reality to perform surgeries in remote locations, send anatomical drawings, and offer voice assistance during the procedure. The increasing investment in the development of AR technology will boost the adoption of these devices in the global AR and VR market in healthcare during the forecast period.

AR and VR Market in Healthcare – By Applications

AR assisted surgery to gain immense popularity in the AR and VR market in healthcare during forecast period

The applications segment in the global AR and VR market in healthcare consists of AR assisted surgery, AR assisted rehabilitation, AR assisted training and medical education, VR assisted simulation, VR assisted diagnostics, VR assisted rehabilitation, VR assisted pain distraction, and VR assisted virtual reality expose therapy (VRET). The AR assisted surgery segment is gaining popularity in the augmented reality (AR) and virtual reality (VR) market in healthcare growing at a CAGR of more than 29% during the forecast period. AR assisted surgeries are complex ones without any geographical barriers to provide smooth and seamless functioning in these procedures. The increasing use of connected devices such as smartphones and tablets for enhanced guidance during surgeries will drive the growth of the AR assisted surgery in the AR and VR market in healthcare.

Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare – By Geography

North Americas is the largest geographical segment in the AR and VR market in healthcare

The AR and VR market in healthcare by geography is classified into North America, APAC, Europe, and ROW. North America dominated the global augmented reality (AR) and virtual reality (VR) market in healthcare, occupying close of half of the total market share in 2017. Rising health-conscious among population, increasing disposable income, and growing penetration of smart devices are some of the factors that can contribute to the growth of the AR and VR market in healthcare in North America. The introduction of innovative medical technologies and sophisticated medical devices and drugs will help leading vendors in North America occupy a larger market share in the AR and VR market in healthcare over next few years.

Key Countries Profiled in the Report are: 

  • US
  • UK
  • China

Key Vendor Analysis

The AR and VR market in healthcare is highly fragmented with the presence of several vendors offering devices at a competitive price. The infiltration of low-quality products is increasing the competition in the global AR and VR market in healthcare. The leading players are focusing on leveraging technology and brand identity to gain market share in the augmented reality and virtual reality market in healthcare. The increasing investments in R&D for the development of innovative products will create new business opportunities for prominent companies in the market. The increasing focus on emerging companies in the APAC region will help players expand their business and distribution channels to new regions.

The major vendors in the global market are:

  • Key Companies in AR
    • Orca Health
      • Business Overview
      • Healthcare Solutions
    • Brain Power LLC
    • Medsight Tech
    • Accuvein
    • EchoPixel Inc
    • Augmedix
    • Atheer Inc
    • Aira
    • Proximie
    • Kinosis Ltd
  • Key Companies in VR
    • MindMaze
    • Psious
    • Virtually Better
    • First Hand Technology
    • Immersive Touch
    • Medical Realities
    • Osso VR Inc
    • VirtaMed
    • zSpace Inc
    • Surgical Theater
  • Key Companies for Devices
    • Microsoft
    • Alphabet Inc
    • Magic Leap
    • Osterhout Design Group Inc
    • Facebook
    • HTC
    • Vuzix

Key market insights include

  1. The analysis of the AR and VR market in healthcare provides market size and the growth rate for the forecast period 2018–2023.
  2. It offers comprehensive insights about current industry trends, trend forecast, and growth drivers about the AR and VR market in healthcare.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of AR and VR market in healthcare.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

 

The global augmented reality (AR) and virtual reality (VR) market in healthcare size is expected to reach around $3,038 million by 2023, growing at an impressive CAGR of around 31% 2017–2023.

The market research report provides an in-depth market and segmental analysis of the global AR and VR market in healthcare by applications, technology, component, and geography. The AR and VR market in healthcare is driven by the development of digital healthcare technologies. The introduction of next-generation sequencing (NGS), 3D-printing, immunotherapy, artificial intelligence (AI), point-of-care diagnostics (POC), virtual reality (VR), augmented reality (AR), biosensors and trackers, convenient care, and telehealth will revolutionize the healthcare market.

Base Year:                  2017

Forecast Year:           2018–2023

The study considers the present scenario of the augmented reality and virtual reality in healthcare and its market dynamics for the period 2018−2023. The study covers a detailed overview of various market growth enablers, restraints, and trends. It covers both the demand and supply sides of the market.

Major Vendors in the AR and VR Market in Healthcare

  • Key Companies in AR
    • Orca Health
      • Business Overview
      • Healthcare Solutions
    • Brain Power LLC
    • Medsight Tech
    • AccuVein
    • EchoPixel Inc
    • Augmedix
    • Atheer Inc
    • Aira
    • Proximie
    • Kinosis Ltd
  • Key Companies in VR
    • MindMaze
    • Psious
    • Virtually Better
    • First Hand Technology
    • Immersive Touch
    • Medical Realities
    • Osso VR Inc
    • VirtaMed
    • zSpace Inc
    • Surgical Theater
  • Key Companies for Devices
    • Microsoft
    • Alphabet Inc
    • Magic Leap
    • Osterhout Design Group Inc
    • Facebook
    • HTC
    • Vuzix

 

Market Segmentation by Applications

  • Augmented Reality
    • AR assisted surgery
    • AR assisted rehabilitation
    • AR assisted training and medical education
  • Virtual Reality
    • VR assisted simulation
    • VR assisted diagnostics
    • VR assisted rehabilitation
    • VR assisted pain distraction
    • VR assisted virtual reality expose therapy (VRET)

Market Segmentation by Technology

  • Augmented Reality (AR)
  • Virtual Reality (VR)

Market Segmentation by Component

  • Hardware
  • Software

Market Segmentation by Geography

  • North America
    • US
  • Europe
    • UK
  • APAC
    • China
  • ROW

1          Research Methodology

2          Research objectives

3          Research Process

 

4          Report Coverage

4.1       Market Definition

4.2       Base Year

4.3       Scope of Study

4.3.1   Market Segmentation by Component Type

4.3.2   Market Segmentation by Application Type in AR

4.3.3   Market Segmentation by Application Type in VR

4.3.4   Market Segmentation by Technology

4.3.5   Market Segmentation by Geography

 

5          Report Assumptions & Caveats

5.1.1   Inclusions

5.1.2   Exclusions

5.2       Currency Conversion rate

5.3       Market Derivation

 

6          Market at a Glance

 

7          Introduction

7.1       Augmented reality (AR)

7.1.1   Types of AR

7.1.2   Working of AR

7.1.3   Uses of AR

7.2       Virtual reality (VR)

7.2.1   Uses of VR

7.2.2   Key Drivers of VR

8          Market Dynamics

8.1       Market Growth Enablers

8.1.1   Growth of Aging Population

8.1.2   Increased Spending on Healthcare

8.1.3   Increased Penetration of Connected Devices in Healthcare

8.2       Market Growth Restraint

8.2.1   Low Number of Expert Medical Professional and Lack of Infrastructure for New Technologies

8.2.2   Data Security of Medical Records

8.3       Market Opportunities & Trends

8.3.1   Reduced Healthcare Spending and Time

8.3.2   Increasing Investment in AR and VR Market

8.3.3   Increased Use of AR and VR in Fitness Industry

 

9          Global AR and VR Market in Healthcare

9.1       Market Overview

9.2       Market Size & Forecast

9.3       Porter’s Five Forces Analysis

9.3.1   Threat of New Entrants

9.3.2   Bargaining Power of Suppliers

9.3.3   Bargaining Power of Buyers

9.3.4   Threat of Substitutes

9.3.5   Competitive Rivalry

 

10        AR and VR in Healthcare Market by Components

10.1    Market overview

10.2    Hardware

10.2.1 Market Overview

10.2.2 Market size and Forecast

10.3    Software

10.3.1 Market Overview

10.3.2 Market size and Forecast

 

11        AR and VR Market in Healthcare by Technology

11.1    Market Overview        

11.2    AR in Healthcare

11.2.1 Market Overview

11.2.2 Market Size & Forecast

11.3    VR in Healthcare

11.3.1 Market Overview

11.3.2 Market Size & Forecast

 

12        AR and VR in Healthcare by Application

12.1    Market Overview

12.2    AR assisted Surgery

12.2.1 Market Size & Forecast

12.3    AR Assisted Rehabilitation

12.3.1 Market Size & Forecast

12.4    ar assisted Training and Medical Education

12.4.1 Market Size & Forecast

12.5    VR Assisted Simulation

12.5.1 Market Size & Forecast

12.6    VR Assisted Diagnostics

12.6.1 Market Size & Forecast

12.7    VR Assisted Rehabilitation

12.7.1 Market Size & Forecast

12.8    VR Assisted Pain Distraction

12.8.1 Market Size & Forecast

12.9    VR Assisted Virtual Reality Expose Therapy (VRET)

12.9.1 Market Size & Forecast

 

13        AR and VR in Healthcare Market By Geography

13.1    Market Overview

13.1.1 Market Size & Forecast

 

14        NORTH AMERICA: AR and VR MARKET in Healthcare

14.1    Market Overview

14.2    Market Size & Forecast

14.3    Key Countries

14.3.1 US: Market Size & Forecast

                                                               

15        Europe: AR and VR in Healthcare Market

15.1    Market Overview

15.2    Market Size & Forecast

15.3    Key Countries

15.3.1 UK: Market Size & Forecast

 

16        APAC: AR and VR in Healthcare Market

16.1    Market Overview

16.2    Market Size & Forecast

16.3    Key Countries

16.3.1 China: Market Size & Forecast

 

17        ROW: AR and VR in Healthcare Market

17.1    Market Overview

17.2    Market Size & Forecast

 

18        Competitive Landscape

18.1    Market Overview

 

19        Key Company Profiles in AR

19.1    orca health

19.1.1 Business Overview

19.1.2 Healthcare Solutions

19.2    Brain Power llc

19.2.1 Business Overview

19.2.2 Healthcare Solutions

19.3    Medsight Tech

19.3.1 Business Overview

19.3.2 Healthcare Solutions

19.4    Accuvein

19.4.1 Business Overview

19.4.2 Healthcare Solutions

19.5    Echopixel inc.

19.5.1 Business Overview

19.5.2 Healthcare Solutions

19.6    Augmedix

19.6.1 Business Overview

19.6.2 Healthcare Solutions

19.7    ATheer Inc.

19.7.1 Business overview

19.7.2 Healthcare Solutions

19.8    Aira

19.8.1 Business Overview

19.8.2 Healthcare Solutions

19.9    Proximie

19.9.1 Business Overview

19.9.2 Healthcare Solutions

19.10  Kinosis Ltd

19.10.1           Business Overview

19.10.2           Healthcare Solutions

 

20        Key Company Profiles in VR

20.1    Mind maze

20.1.1 Business Overview

20.1.2 Healthcare Solutions

20.2    PSIOUS

20.2.1 Business Overview

20.2.2 Healthcare Solutions

20.3    Virtually Better

20.3.1 Business Overview

20.3.2 Product Offering

20.4    First hand technology

20.4.1 Business Overview

20.4.2 Product Offerings

20.5    Immersive touch

20.5.1 Business Overview

20.5.2 Product offerings

20.6    medical realities

20.6.1 Business Overview

20.6.2 Product Offerings

20.7    Osso Vr inc.

20.7.1 Business Overview

20.7.2 Product Offerings

20.8    Virtamed

20.8.1 Business Overview

20.8.2 Product Offerings

20.9    Zspace Inc.

20.9.1 Business Overview

20.9.2 Product Offerings

20.10  Surgical Theater

20.10.1  Business Overview

20.10.2  Product Offerings

 

21        Key Company Profiles By Devices

21.1    Microsoft

21.1.1 Business Overview

21.1.2 Product Offerings

21.2    Alphabet Inc.

21.2.1 Business Overview

21.2.2 Product offerings

21.3    Magic leap

21.3.1 Business Overview

21.3.2 Product Offerings

21.4    Osterhout Design Group Inc.

21.4.1 Business Overview

21.4.2 Product Offerings

21.5    Facebook

21.5.1 Business overview

21.5.2 Product Offerings

21.6    HTC

21.6.1 Business Overview

21.6.2 Product offerings

21.7    Vuzix

21.7.1 Business Overview

21.7.2 Product Offerings

 

22        Report Summary

22.1    Key Takeaways

22.2    Qualitative Summary of AR and VR in healthcare Market

22.3    Quantitative Summary of Global Ar and VR Market

 

23        Appendix

23.1    List of Abbreviations

 

List of Exhibits       

Exhibit 1         Segmentation of AR and VR in Healthcare

Exhibit 2         Market Size Calculation Approach 2017

Exhibit 3         Market Size Calculation 20170

Exhibit 4         Key Future Trends in Healthcare

Exhibit 5         Overview of Augmented Reality

Exhibit 6         Workflow of AR

Exhibit 7         60+ Aged Population in 2017

Exhibit 8         World Population by Age Group 2017

Exhibit 9         Healthcare Spending by Geography 2015 (% of GDP)

Exhibit 10       Healthcare Spending by Geography ($ trillion)

Exhibit 11       Market Size of Connected Devices 2017−2023 (billion units)

Exhibit 12       Some of the Connected Devices in Healthcare Industry

Exhibit 13       Connected Medical Devices Market 2017−2023 ($ million)

Exhibit 14       Global Rate of Economic Crime 2001−2016

Exhibit 15       Reported Cybercrime Rate by Geography 2016

Exhibit 16       Cybercrime Rate by Industry 2016

Exhibit 17       Number Deals and Funding for AR and VR Companies in Healthcare 2010−2015

Exhibit 18       Global AR and VR Healthcare Market 2017−2023 ($ million)

Exhibit 19       Five Forces Analysis 2017

Exhibit 20       AR and VR in Healthcare Market by Components

Exhibit 21       Global Shipment of VR and AR Headset 2016−2023 (million units)

Exhibit 22       AR and VR Hardware Market in Healthcare 2017−2023 ($ million)

Exhibit 23       AR and VR Software Market in Healthcare 2017−2023 ($ million)

Exhibit 24       AR and VR Healthcare Market by Technology

Exhibit 25       AR and VR in Healthcare Market 2017−2023

Exhibit 26       AR in Healthcare Market 2017−2023 ($ million)

Exhibit 27       VR Market in Healthcare 2017−2022 ($ million)

Exhibit 28       AR and VR Market in Healthcare by Application

Exhibit 29       AR Assisted Surgery Market 2017−2023 ($ million)

Exhibit 30       AR Assisted Rehabilitation Market 2017−2023 ($ million)

Exhibit 31       AR Assisted Training and Medical Education Market 2017−2023 ($ million)

Exhibit 32       VR Assisted Simulation Market 2017−2023 ($ million)

Exhibit 33       VR Assisted Diagnostics Market 2017−2023 ($ million)

Exhibit 34       VR Assisted Rehabilitation Market 2017-2023 ($ million)

Exhibit 35       VR Assisted Pain Distraction Market 2017−2023 ($ million)

Exhibit 36       Virtual Reality Expose Therapy Market 2017−2023 ($ million)

Exhibit 37       AR and VR Market in Healthcare by Geography 2017−2023

Exhibit 38       National Healthcare Expenditure in US 2013–2023 ($ trillion)

Exhibit 39       Healthcare AR and VR Market in North America 2017−2023 ($ million)

Exhibit 40       Healthcare AR and VR Market in US 2017−2023 ($ million)

Exhibit 41       Healthcare Expenditure Breakdown in Europe 2015

Exhibit 42       Per Capita Spending in Various Field 2015 ($)

Exhibit 43       Annual Saving Ratio of Western European Countries 2008−2017

Exhibit 44       Change in Annual Household Disposable Income in Europe 2008−2015 (%)

Exhibit 45       Devices Used for Surfing Internet in Europe by Age Group 2016

Exhibit 46       Changes in Per Capita Disposable Income in EU-28 Countries 2006−2015

Exhibit 47       Healthcare AR and VR Market in Europe 2017−2023 ($ million)

Exhibit 48       Healthcare AR and VR Market in UK 2017−2023 ($ million)

Exhibit 49       Increase in Urban Population in APAC 2005−2045 (%)

Exhibit 50       Comparison of Southeast Asian Countries with Income Brackets 2010−2025

Exhibit 51       Healthcare AR and VR Market in APAC 2017−2023 ($ million)

Exhibit 52       Healthcare AR and VR Market in China 2017−2023 ($ million)

Exhibit 53       Internet Penetration Worldwide 2017

Exhibit 54       Internet Penetration across World 2017

Exhibit 55       Healthcare AR and VR Market in ROW 2017−2023 ($ million)

           

           

List of Tables

Table 1            Key Geographies Definition

Table 2            Key Caveats

Table 3            Currency Conversion 2014−2017

Table 4            Popular AR Applications in the Market

Table 5            AR Wearable Devices

Table 6            Early VR Inventions in the 1960s

Table 7            Usage of VR in the 1990s

Table 8            Leading AR and VR Startups and Related Funding

Table 9            AR and VR in Healthcare Market by Components 2017−2023 ($ million)

Table 10         AR and VR Market in Healthcare by Technology 2017−2023 ($ million)

Table 11         AR Applications in healthcare 2017-2023 ($ million)

Table 12         VR Applications in Healthcare 2017-2023 ($ million)

Table 13         AR and VR Market in Healthcare by Geography 2017−2023 ($ million)

Table 14         Qualitative Summary of Global AR and VR in Healthcare Market

Table 15         Quantitative Summary of Global AR and VR in Healthcare Market by Geography ($ million)

Table 16         Quantitative Summary of Global AR and VR in Healthcare Market by Geography (revenue %)

Table 17         Quantitative Summary of Global AR and VR in Healthcare Market by Technology Type ($ million)

Table 18         Quantitative Summary of Global AR Application in Healthcare Market ($ million)

Table 19         Quantitative Summary of Global VR Application in Healthcare Market ($ million)

Table 20         Quantitative Summary of Global AR and VR in Healthcare Market by Components ($ million)

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