Industry Background:
Augmented reality is one of the major technological advancements in the healthcare industry. This technology is developing since 1960. Augmented reality helps the healthcare industry to connect with real-world surgery. In this industry, many AR-based start-ups are booming in this industry. This technology helps in medical imaging devices to enable healthcare professionals to use CT images of a patient’s and able to display a 3D model. This product provides healthcare to render patient-specific anatomy leading to increased clinical knowledge, faster operations, and better care.This growth is primarily driven by Rising Penetration of Connected Devices in the Healthcare Sector Across the Globe
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Google (United States), Microsoft (United States), DAQRI (United States), Psious (Spain), Mindmaze (Switzerland), Firsthand Technology (United States), Medical Realities (United Kingdom), Atheer (United States), Augmedix (United States) and Oculus VR (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2022, Google acquired Raxium, an innovator in single panel MicroLED display technologies. This company is California-based start-up & it helped google to build advanced generation of augmented/virtual and mixed reality headsets.
In Sep 2019, XRHealth and Magic Leap announced the collaboration for the extension of augmented reality and therapeutic AR for the medical industry. Through this collaboration, XRHealth brings health and wellness solutions to Magic Leap devices. It is a platform that delivers spatial computing applications for rehabilitation, cognitive training, and others.The companies operating in this industry are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. The players are focusing towards securing a leading position in this industry. They are continuously looking for the opportunity to reinforce their competitive advantage. To meet a high market share, and developing a socially responsible business company is identifying various strategic pillars such as mergers & acquisitions, new product launch, product enhancement, and others.
Influencing Trend:
Increasing Number of Surgery Application in North America and Rising Number AR Based Start-Ups in Asia Pacific Regions
Market Growth Drivers:
Rising Penetration of Connected Devices in the Healthcare Sector Across the Globe, Increasing in Investment in the Healthcare Manufacturers AR and VR and Growing Requirement to Reduce the Healthcare Costs
Challenges:
Rising Concerns Regarding Data Privacy and Lack of Customization Products
Restraints:
Lack of Healthcare Professionals with AR Knowledge in Healthcare Industry
Opportunities:
Rising Demand for AR And VR In Emerging Economics Including China, And India and High Adoption of Augmented Reality and Virtual Reality in Fitness Management
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of AR for Healthcare Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of AR for Healthcare Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of AR for Healthcare players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, AR for Healthcare Study Sheds Light on
The AR for Healthcare Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the AR for Healthcare industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where AR for Healthcare industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.