Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market Opportunities, Analysis And Forecast To 2025
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Agrochemicals can be produced in biological and chemical methods, both. The synthetic agrochemicals are threat for the environment and hence biological fertilizers and pesticides are progressively replacing them
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<strong>Augmented</strong> <strong>Reality</strong> (<strong>AR</strong>) & <strong>Virtual</strong> <strong>Reality</strong> (<strong>VR</strong>) <strong>in</strong> <strong>Healthcare</strong><br />
<strong>Market</strong> <strong>Opportunities</strong>, <strong>Analysis</strong> <strong>And</strong> <strong>Forecast</strong> <strong>To</strong> <strong>2025</strong><br />
“<strong>Virtual</strong> reality (<strong>VR</strong>) technology is widely adopted <strong>in</strong> Eye Movement<br />
Desensitization and Reprocess<strong>in</strong>g (EMDR) therapy. Additionally, virtual<br />
reality (<strong>VR</strong>) technology aids <strong>in</strong> treatments such as autism therapy, depression<br />
therapy, cancer therapy and rehabilitation.”<br />
The global <strong>Augmented</strong> <strong>Reality</strong> (<strong>AR</strong>) & <strong>Virtual</strong> <strong>Reality</strong> (<strong>VR</strong>) In <strong>Healthcare</strong> <strong>Market</strong> size is expected to value at USD<br />
5.1 billion by <strong>2025</strong>. The augmented reality (<strong>AR</strong>) & virtual reality (<strong>VR</strong>) <strong>in</strong> healthcare <strong>in</strong>dustry is subject to witness<br />
a substantial growth due to the grow<strong>in</strong>g implementation of augmented reality (<strong>AR</strong>) and virtual reality (<strong>VR</strong>) <strong>in</strong><br />
healthcare sector, <strong>in</strong>creas<strong>in</strong>g focus towards development of latest technologies, and recent <strong>in</strong>frastructural<br />
activities <strong>in</strong> healthcare sector.<br />
Factors responsible for susta<strong>in</strong>ed market growth <strong>in</strong> the last few years <strong>in</strong>clude <strong>in</strong>creas<strong>in</strong>g focus on surgical<br />
simulations, diagnostic imag<strong>in</strong>g, patient care management, rehabilitation, and pa<strong>in</strong> management. Globally, the<br />
augmented reality & virtual reality <strong>in</strong> healthcare market is predicted to grow at CAGR of 29.1% <strong>in</strong> forecast period<br />
provid<strong>in</strong>g numerous opportunities for market players to <strong>in</strong>vest <strong>in</strong> research and development <strong>in</strong> the augmented<br />
reality (<strong>AR</strong>) & virtual reality (<strong>VR</strong>) <strong>in</strong> healthcare <strong>in</strong>dustry. Increas<strong>in</strong>g adoption of advanced technologies such as<br />
augmented reality (<strong>AR</strong>) & virtual reality (<strong>VR</strong>) are expected to revolutionize the healthcare sector due to their<br />
vast set of applications such as virtual tra<strong>in</strong><strong>in</strong>g exercises for surgeons dur<strong>in</strong>g complex surgeries, 3-D OPDs<br />
simulations, phobia buster <strong>in</strong> mental health treatment, and chronic pa<strong>in</strong> management.<br />
<strong>Virtual</strong> reality (<strong>VR</strong>) technology is widely adopted <strong>in</strong> Eye Movement Desensitization and Reprocess<strong>in</strong>g (EMDR)<br />
therapy. Additionally, virtual reality (<strong>VR</strong>) technology aids <strong>in</strong> treatments such as autism therapy, depression<br />
therapy, cancer therapy and rehabilitation. <strong>Virtual</strong> reality (<strong>VR</strong>) technology based organ prototypes helps<br />
surgeons by prepar<strong>in</strong>g them for highly-sensitive and complex set of operations that require high accuracy,<br />
lessened complications and m<strong>in</strong>imum trauma cases.<br />
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Grow<strong>in</strong>g popularity of augmented reality (<strong>AR</strong>) as a tra<strong>in</strong><strong>in</strong>g and education tool is expected to widen the market<br />
reach <strong>in</strong> forecast period. Additionally, <strong>in</strong>creas<strong>in</strong>g use of augmented reality based apps <strong>in</strong>clude enhanced care<br />
for patients across the globe. Inception of highly advanced technology solutions such as ve<strong>in</strong> visualization<br />
technology, which is implemented on a handheld scanner, helps healthcare professional, doctors and nurses to<br />
identify ve<strong>in</strong>s and valves accurately <strong>in</strong> time constra<strong>in</strong>ed environment to reduce pa<strong>in</strong> dur<strong>in</strong>g surgical procedures.<br />
Various augmented reality (<strong>AR</strong>) android & iOS apps helps healthcare <strong>in</strong> aftercare of patients and aids elderly<br />
people to adm<strong>in</strong>ister their medications <strong>in</strong>take. The rise <strong>in</strong> adoption of augmented reality (<strong>AR</strong>) & virtual reality<br />
(<strong>VR</strong>) is not only allows better patient care management but also offers real-time services, thus expand<strong>in</strong>g market<br />
reach <strong>in</strong> the forecast period. <strong>Augmented</strong> reality (<strong>AR</strong>) market segment has witness substantial growth over the<br />
forecast period ow<strong>in</strong>g to factors such as <strong>in</strong>creas<strong>in</strong>g preference toward <strong>AR</strong> as a tra<strong>in</strong><strong>in</strong>g and education tool by<br />
healthcare professionals. Recent technological advancement and grow<strong>in</strong>g <strong>in</strong>frastructural activities <strong>in</strong> healthcare<br />
sector has paved way for <strong>in</strong>creas<strong>in</strong>g demand for augmented reality (<strong>AR</strong>) <strong>in</strong> healthcare IT <strong>in</strong>dustry.<br />
Other factors attribut<strong>in</strong>g to the growth of <strong>AR</strong> market segment are assistance <strong>in</strong> patient care & management<br />
services, and medical imag<strong>in</strong>g along with head-mounted displays. Grow<strong>in</strong>g popularity of augmented reality (<strong>AR</strong>)<br />
<strong>in</strong> fitness management due to development of numerous <strong>AR</strong>-based wellness and fitness apps, are transform<strong>in</strong>g<br />
the fitness sector.<br />
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The augmented reality (<strong>AR</strong>) & virtual reality (<strong>VR</strong>) <strong>in</strong> healthcare market is divided by region such as North America,<br />
Europe, Asia-Pacific, Lat<strong>in</strong> America and Africa. North America has shown major growth <strong>in</strong> recent years ow<strong>in</strong>g to<br />
the rise <strong>in</strong> the adoption of latest technologies <strong>in</strong> medic<strong>in</strong>e and pharmaceutical sector, grow<strong>in</strong>g prevalence of<br />
neurological & psychological disorders, and existence of well-established healthcare <strong>in</strong>frastructure. Asia-Pacific<br />
region is predicted to hold major market share <strong>in</strong> the augmented reality & virtual reality <strong>in</strong> healthcare <strong>in</strong>dustry<br />
with massive growth <strong>in</strong> forecast period.<br />
Countries such as India, Ch<strong>in</strong>a and S<strong>in</strong>gapore are lead<strong>in</strong>g the Asia-Pacific market with rise <strong>in</strong> the prevalence of<br />
chronic diseases, and <strong>in</strong>crease <strong>in</strong> number of <strong>in</strong>ternet & smartphone users, rise <strong>in</strong> government <strong>in</strong>itiatives for<br />
adoption of digital & advanced technologies and significant <strong>in</strong>vestment by lead<strong>in</strong>g <strong>in</strong>dustry players consider<strong>in</strong>g<br />
potential growth opportunities <strong>in</strong> the region.<br />
The key players <strong>in</strong> the augmented reality (<strong>AR</strong>) & virtual reality (<strong>VR</strong>) <strong>in</strong> healthcare market are Intuitive Surgical,<br />
Inc., CAE <strong>Healthcare</strong> Pvt. Ltd., 3D Systems Incorporations, Hologic Incorporations, and Laerdal Medical<br />
Corporations.<br />
<strong>Market</strong> Segment:<br />
Component Outlook (Revenue, USD Million, 2014 - <strong>2025</strong>)<br />
• Hardware<br />
• Software
• Service<br />
Technology Outlook (Revenue, USD Million, 2014 - <strong>2025</strong>)<br />
• <strong>Augmented</strong> <strong>Reality</strong><br />
• Surgical Application<br />
• Rehabilitation<br />
• Tra<strong>in</strong><strong>in</strong>g & Medical Education<br />
• <strong>Virtual</strong> <strong>Reality</strong><br />
• Simulation<br />
• Diagnostics<br />
• <strong>Virtual</strong> <strong>Reality</strong> Exposure Therapy<br />
• Rehabilitation<br />
• Pa<strong>in</strong> Distraction<br />
Regional Outlook (Revenue, USD Million, 2014 - <strong>2025</strong>)<br />
• North America<br />
• Europe<br />
• Asia Pacific<br />
• Lat<strong>in</strong> America<br />
• Middle East & Africa<br />
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