Healthcare AR-VR Market 2019 : The Future of Augmented Reality and Virtual Reality in Medicine and Healthcare
The Global Healthcare AR-VR Market was valued at US$ 933.1 Mn in 2018 and expected to reach US$ 3,192.2 Mn by the end of the forecast period, growing at a CAGR of 36.2% during the period from 2018 to 2023.
Dublin, United States – January 30, 2019 /MarketersMedia/ —
AR VR plays an important role in the medical technology by making inroads into medical training, surgical suites, and doctor’s offices among others. Constant developments and the increase in investments in the medical field is resulting to the market growth over the years.
The overall market is mainly driven by the applications in diagnostic imaging, surgical simulations, rehabilitation, management of health among others. The ARVR are used to train the professionals who are related to medical field thereby enhancing their understanding related to physiology & anatomy and assist in the surgeries that are complicated in nature. In addition to this, VR also helps the patients to overcome their fears with the help of the exposure therapy. Moreover, with the significant growth of the market, several start-ups are planning to come up with the innovative AR and VR products thus offering new functionalities. For instance, AccuVein used the AR technology in order to develop products that help the nurses to scan the veins present in the patient’s body thus minimizing the missing vein cases.
The Healthcare AR-VR Market is also expected to expand due to the increasing private funding and investments. For instance, a start-up, MindMaze Company based in Switzerland raised US$ 100 Mn from Hinduja Group in order to develop VR software & hardware. In addition to this, there are also government funding that is expected to boost the Healthcare AR-VR Market during the forecast period. Innovate U.K which is the U. K’s innovation agency decided to invest an amount of US$ 269,367 in the AR and VR technologies in order to encourage new innovation.
Recent Developments in the Healthcare AR-VR Market:
VR: In Oct, 2018 The Queen’s university based in Canada announced plans for new medical training center composed entirely of VR simulations. The introduction of AR-VR technology will train the doctors and study the impact of VR on education in order develop more useful content in the coming years
Middle East: In Nov, 2018 There were 5 Israeli start-ups such as RealView Imaging Ltd., Augmedics, VRHealth, Calma and SeeMe thet leveraged VR/AR to transform medical care and health The introduction of AR-VR technology by the new start-ups expected to generate opportunity during the forecast period
Oculus VR: In Oct, 2018 Two companies Oculus and VR has teamed up to virtual reality to patient care The joint venture helps the patients to experience less pain during chemitherapy and also alleviates their anxiety thus boosting the overall market growth
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Key Questions Answered into the Report:
• What is the Healthcare AR-VR Market value of the overall market and segments?
• What are the key segments and sub-segments in the market?
• Which is the largest sub-segment in each segment in the scope of the study?
• What are the key drivers, restraints, opportunities and challenges in Healthcare AR-VR Market and how are they expected to impact the market?
• What are the attractive segments and geographies to invest in?
• What is the Healthcare AR-VR Market value at the regional and country level?
• Who are the key market players and their key competitors?
• Who are the key market players at different stages of the value chain?
• What are the strategies for growth adopted by the key players in the market?
• How does a particular company rank against its competitors with respect to revenue, profit comparison, operational efficiency, cost competitiveness and market capitalization?
• How financially strong are the key players in the market (revenue and profit margin, market capitalization, expenditure analysis, investment analysis)?
• What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)
Related Reports on Healthcare AR-VR Market:
Global Healthcare AR-VR Market Summary Report
Global Healthcare AR-VR Market Segmentation Report
Global Healthcare AR-VR Market Regional Report
Global Healthcare AR-VR Market Competitive Intelligence & Company Profiles Report
Global Healthcare AR-VR Market Stat Book
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