USD 1.7 billion
AR In Health Care Market Size, Share, Growth Analysis, By Technology(Head Mounted Devices, Handheld Devices), By Type(AR Displays, AR Sensors, AR Input Devices, AR Semiconductor Components), By End - User(Hospitals and Clinics, Research Laboratories, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2207 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
91
|Figures:
76
AR In Health Care Market Insights
Global AR In Health Care Market size was valued at USD 1.7 billion in 2022 and is poised to grow from USD 2.19 billion in 2023 to USD 16.82 billion by 2031, growing at a CAGR of 29% in the forecast period (2024- 2031).
Advancements in display and sensor technologies, alongside a variety of software, have paved the way for the revolutionary integration of Augmented Reality (AR) in the healthcare sector. This innovative approach has proven immensely beneficial, enabling surgeons, nurses, and doctors to engage with patients through AR applications. These applications empower healthcare professionals to visualize and interact with three-dimensional representations of the human body.
The impact of AR extends not only to medical practitioners but also to patients seeking medical education. By affording patients the opportunity to comprehend intricate surgical procedures, AR plays a pivotal role in enhancing their understanding. Vein visualization stands as one of the most practical applications of AR in use today. It has revolutionized the way injections are administered and nerves are located, effectively alleviating discomfort.
The augmented reality market's influence extends to surgical visualization and medical training, and it is propelled by various factors. The market's growth is fueled by the expanding use of augmented reality in diagnostic imaging, surgical simulations, rehabilitation, and patient care management. Moreover, the landscape is invigorated by a surge in AR-based startups and significant investments in these burgeoning technologies on a global scale.
US AR In Health Care Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals and Clinics
Fastest Growth
Hospitals and Clinics
Growth Rate
29% CAGR
Global AR in Health Care Market ($ Bn)
Country Share for Asia Pacific Region (%)
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AR In Health Care Market Segmental Analysis
The global AR in health care market is segmented on the basis of technology, type, end – user, region. By type, the market is segmented into head mounted devices, handheld devices. By technology, the market is segmented into ar displays, ar sensors, ar input devices, ar semiconductor components, other products. By end – user, the market is segmented into hospitals and clinics, research laboratories, others. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
AR In Health Care Market Analysis By End - User
In terms of end users, the segment encompassing hospitals and clinics emerges as the primary driver of revenue due to the escalating integration of Augmented Reality (AR) into medical training and education. This trend is fueled by the remarkable utility that AR offers within hospital settings, specifically within surgical contexts. Augmented reality technology empowers surgeons to meticulously study a patient's anatomical structure directly within the hospital environment, providing an unparalleled level of precision and understanding before embarking on any surgical procedure.
This uptake of AR technology within hospitals and clinics underscores the profound impact it has on medical education and professional development. The ability to interact with three-dimensional representations of patients' anatomy not only elevates the quality of medical training but also ensures a higher level of patient safety and care. Consequently, the hospitals and clinics segment stand as a cornerstone in the advancement of AR's transformative influence within the realm of healthcare.
AR In Health Care Market Analysis By Type
Categorized by type, the segment encompassing AR input devices holds a dominant position and is poised to sustain this momentum throughout the projected period. This prominence can be attributed to the escalating adoption of AR devices within various healthcare procedures and practices. The proliferation of these devices signifies a transformative shift in how healthcare professionals interact with and leverage augmented reality technology to elevate patient care and medical outcomes.
As the healthcare industry embraces technological advancements and strives for innovation, the continued preference for AR input devices comes as no surprise. Their integration not only streamlines medical workflows but also enhances the quality of patient care by offering a comprehensive and immersive understanding of medical data. This upward trajectory within the AR input devices segment reflects a deeper commitment to harnessing technology's potential to its fullest extent, thus shaping a more sophisticated and effective healthcare landscape.
Global AR in Health Care Market By End - User
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AR In Health Care Market Regional Insights
Within the global landscape of Augmented Reality (AR) for healthcare, North America has asserted its dominance by securing a significant share in terms of revenue. This commanding position is poised to remain unshaken throughout the forecasted period. The factors contributing to this steadfast dominance encompass a confluence of strategic elements that enable North America to maintain its leading stature.
A primary driver fueling North America's grip on the AR healthcare market is the infusion of private and government funding. Both sectors are channeling substantial resources toward the research, development, and integration of AR technologies within the healthcare sector. This robust financial support serves as a catalyst for innovation, facilitating the evolution of AR-powered solutions that enhance medical practices and patient care. Moreover, North America's healthcare infrastructure, renowned for its advanced capabilities, provides a fertile ground for the successful implementation of AR.
Notably, the U.S. government is deeply committed to fostering the widespread adoption of AR across various industries. This commitment translates into substantial investments that not only spur technological advancements but also open up compelling business avenues for startups, vendors, and manufacturers. By nurturing an ecosystem of innovation, these investments amplify the potential for AR to revolutionize healthcare practices, patient interactions, and medical education.
Global AR in Health Care Market By Region
- Largest
- Fastest
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AR In Health Care Market Dynamics
AR In Health Care Market Drivers
Enhanced Medical Visualization and Training
- AR technology offers healthcare professionals the ability to visualize and interact with 3D models of anatomical structures, aiding in surgical planning, medical training, and diagnosis.
Rise of AR Startups
- The emergence of startups focused on developing AR solutions tailored to healthcare needs is fostering innovation and expanding the market's potential.
Improved Surgical Precision
- AR-assisted surgeries enable surgeons to overlay vital information, such as patient data and surgical plans, directly onto their field of view, enhancing precision and reducing risks during complex procedures.
AR In Health Care Market Restraints
Data Privacy and Security Concerns
- The utilization of AR in healthcare raises concerns about patient data privacy, security, and compliance with healthcare regulations, potentially impeding adoption.
High Initial Costs
- Implementing AR technology, including devices, software development, and training, can entail significant upfront costs, deterring some healthcare institutions from adoption.
Resistance to Change
- The introduction of AR in healthcare requires training and adaptation from medical professionals, potentially causing resistance to change among established practices.
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AR In Health Care Market Competitive Landscape
The global Augmented Reality (AR) in Healthcare market showcases a dynamic and competitive landscape, characterized by a fusion of industry behemoths, pioneering startups, and collaborative endeavors. Industry giants like Microsoft and Google dominate with their extensive technological prowess, leveraging substantial investments to engineer cutting-edge AR solutions for healthcare applications. Their influence spans across surgical navigation, medical training, and patient interaction.
Simultaneously, a surge of innovative startups, including Atheer and Vuzix, injects agility and specialized expertise into the market. These agile players tailor AR technologies to meet the unique demands of medical professionals, fueling advancements in patient care, diagnostic accuracy, and surgical precision. EchoPixel, another rising star, redefines medical imaging with its interactive 3D visualization tools.
AR In Health Care Market Top Player’s Company Profiles
- Microsoft Corporation (USA)
- Google LLC (USA)
- DAQRI LLC (USA)
- Atheer Inc. (USA)
- Vuzix Corporation (USA)
- Medical Realities Ltd. (UK)
- Augmedix (USA)
- EchoPixel, Inc. (USA)
- AccuVein Inc. (USA)
- Orca Health (USA)
- Surgical Theater (USA)
- Scopis GmbH (Germany)
- Oculus Health (USA)
- Proximie (UK)
- Augmentiqs (Israel)
- Innovega Inc. (USA)
- Firsthand Technology Inc. (USA)
- Augment Bionics (Canada)
- Augmenta (Greece)
- CaptoGlove (Italy)
AR In Health Care Market Recent Developments
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In March 2024, collaboration between the academic world and industry assumes a critical part in propelling medical care development.
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In January 2024, Cipla (EU) Limited declared a strategic partnership with Kemwell Biopharma Private Limited and Manipal Education and Medical Group to lay out a joint venture in the US. The point is to create and advertise imaginative cell treatment items to address huge neglected clinical necessities in the US, Japan, and EU regions.
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In December 2023, Boston-based Heranova Lifesciences, a ladies' healthcare organization, launched an international community known as the AI Alliance. The AI Alliance unites driving innovation designers, analysts, and adopters to team up on propelling open, safe, and mindful artificial intelligence (AI).
AR In Health Care Key Market Trends
- Remote Consultations and Telemedicine: AR is enabling remote consultations and virtual healthcare experiences, allowing patients and healthcare providers to interact and diagnose from a distance.
- Patient Education and Engagement: AR applications are being developed to educate patients about their conditions, treatment options, and post-operative care, fostering greater patient engagement.
- Integration with Electronic Health Records (EHR): AR systems are being integrated with EHR platforms, providing healthcare professionals with immediate access to patient data during consultations and procedures.
AR In Health Care Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global AR in health care market analysis, global Augmented Reality (AR) in healthcare market showcases immense promise and transformative potential. The seamless integration of AR technology within healthcare practices, including surgical navigation, medical training, and patient engagement, underscores its substantial impact. Established players like Microsoft and Google, alongside nimble startups like Atheer and Vuzix, contribute to a dynamic competitive landscape. Collaborative efforts between healthcare institutions, software developers, and AR hardware manufacturers are fostering innovative solutions that reshape patient care and medical education.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.7 billion |
| Market size value in 2031 | USD 16.82 billion |
| Growth Rate | 29% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on AR In Health Care Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on AR In Health Care Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the AR In Health Care Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the AR In Health Care Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the AR In Health Care Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the AR In Health Care Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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