USD 811.33 billion
Mixed Reality in Healthcare Market Size, Share, Growth Analysis, By Type(Augmented Reality and Virtual Reality.), By Application(Surgery and Surgery Simulation, Medical Training and Education, Patient Care Management and Pharmacy and Laboratory Applications.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2169 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
75
Mixed Reality in Healthcare Market Insights
Mixed Reality in Healthcare Market size was valued at USD 1172.37 billion in 2022 and is poised to grow from USD 1694.07 billion in 2023 to USD 32201.44 billion by 2031, growing at a CAGR of 44.50% in the forecast period (2024-2031).
The global mixed reality in healthcare market has witnessed significant growth in recent years, driven by the increasing adoption of advanced technologies in the healthcare sector. One of the primary drivers of the market is the growing demand for enhanced visualisation and simulation tools in healthcare. Mixed reality enables healthcare professionals to visualise complex medical procedures, such as surgical interventions, in a realistic virtual environment. It facilitates better training and education, allowing medical students and surgeons to practise and improve their skills in a risk-free setting. Moreover, mixed reality can enhance patient engagement and education by visualising medical conditions and treatment options in a more comprehensive and understandable manner. The advancements in wearable devices and head-mounted displays (HMDs) have played a crucial role in expanding the adoption of mixed reality in healthcare. The development of lightweight, comfortable, and more affordable HMDs has made it easier for healthcare professionals to incorporate mixed reality into their daily workflows. These devices allow for hands-free operation, real-time data visualisation, and seamless integration with existing healthcare systems, enhancing the overall user experience and accessibility of mixed reality applications.
US Mixed Reality in Healthcare Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Augmented Reality
Fastest Growth
Augmented Reality
Growth Rate
44.5% CAGR
Global Mixed Reality in Healthcare By Country ($ Bn)
Country Share for North America Region (%)
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Mixed Reality in Healthcare Market Segmental Analysis
The global mixed reality in healthcare market is segmented based on type, application, and region. Based on type, the market can be segmented into Augmented Reality and Virtual Reality. Based on application, the market is segmented Surgery and Surgery Simulation, Medical Training and Education, Patient Care Management and Pharmacy and Laboratory Applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Mixed Reality in Healthcare Market Analysis by Type
Augmented reality (AR) has gained prominence in the healthcare sector due to its ability to overlay digital information onto the real-world environment. AR technology provides healthcare professionals with real-time, contextually relevant information, enhancing their decision-making process and improving patient outcomes. AR applications in healthcare range from surgical navigation and medical education to patient visualisation and rehabilitation. The immersive and interactive nature of AR makes it a valuable tool for enhancing the overall healthcare experience.
On the other hand, virtual reality (VR) is experiencing rapid growth and adoption in the healthcare industry. VR technology creates a simulated environment that immerses users in a completely virtual world. In healthcare, VR is being used for applications such as pain management, mental health therapy, medical training, and rehabilitation. VR provides an immersive and controlled environment for therapeutic interventions and medical simulations. The ability to create realistic scenarios and replicate complex medical procedures makes VR a powerful tool in healthcare.
Mixed Reality in Healthcare Market Analysis by Application
Among the various applications of mixed reality in the healthcare market, the dominant application is Patient Care Management. Patient Care Management involves the use of mixed reality technology to improve patient monitoring, rehabilitation, and overall healthcare delivery. It allows healthcare professionals to gather real-time patient data, provide personalised care, and enhance patient outcomes. The integration of mixed reality in patient care management has the potential to revolutionise healthcare practices and improve the quality of patient care.
On the other hand, the fastest-growing application of mixed reality in the healthcare market is Medical Training and Education. The use of mixed reality technology in medical training and education offers immersive and interactive learning experiences for healthcare professionals. It allows for realistic simulations, virtual anatomy models, and interactive surgical training, enabling medical students, surgeons, and other healthcare practitioners to enhance their skills and knowledge in a safe and controlled environment. The growing adoption of mixed reality in medical training and education is driven by the need for advanced and efficient training methods in the healthcare industry.
Global Mixed Reality in Healthcare By Type
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Mixed Reality in Healthcare Market Regional Insights
In the global mixed reality in healthcare market, the most dominant region is North America. The region has a well-established healthcare infrastructure, advanced technological capabilities, and a strong presence of major companies specialising in mixed reality solutions for healthcare. The US, in particular, is a key contributor to the dominance of North America in this market. The region has witnessed significant adoption of mixed reality technologies in various healthcare applications, including medical training, surgical planning, patient education, and rehabilitation.
As for the fastest-growing region in the global mixed reality in healthcare market, Asia-Pacific shows promising growth potential. The region has a large and rapidly expanding healthcare industry, fueled by growing investments in healthcare infrastructure, rising disposable incomes, and increasing awareness of advanced medical technologies. Countries such as China, Japan, South Korea, and India are witnessing a surge in the adoption of mixed reality solutions in healthcare settings. The use of mixed reality for surgical simulations, telemedicine, medical education, and patient care is gaining traction in the Asia-Pacific region, driving its fast-paced growth.
Global Mixed Reality in Healthcare By Geography
- Largest
- Fastest
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Mixed Reality in Healthcare Market Dynamics
Mixed Reality in Healthcare Market Drivers
Remote Collaboration and Telemedicine
- Mixed reality technology facilitates remote collaboration among healthcare professionals, enabling real-time sharing of medical information, diagnoses, and treatment planning. It enhances the capabilities of telemedicine by providing immersive consultations and remote guidance, especially in challenging or critical cases. This functionality is particularly valuable in scenarios where physical presence is not feasible, such as remote areas or emergency situations.
Mixed Reality in Healthcare Market Restraints
Cost and Infrastructure Limitations
- The implementation of mixed reality technology in healthcare necessitates significant investments in hardware, software, and infrastructure. The high costs associated with mixed reality devices like headsets and cameras, along with the requirement for powerful computing systems, can pose obstacles to widespread adoption, particularly for smaller healthcare facilities with limited budgets. These cost and infrastructure limitations may hinder the accessibility of mixed reality solutions in healthcare settings.
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Mixed Reality in Healthcare Market Competitive Landscape
The global mixed reality healthcare market has witnessed significant growth in recent years, driven by the increasing adoption of advanced technologies in the healthcare industry. Mixed reality combines virtual and augmented reality to create an immersive environment that blends the physical and digital worlds. In healthcare, this technology has the potential to revolutionize patient care, medical training, and surgical procedures.
Mixed Reality in Healthcare Market Top Player’s Company Profiles
- Atheer, Inc. (US)
- Daqri LLC (US)
- Augmedix, Inc. (US)
- Orca Health, Inc. (US)
- EchoPixel, Inc. (US)
- AccuVein Inc. (US)
- Surgical Theater LLC (US)
- Medtronic Plc (Ireland)
- Philips Healthcare (Netherlands)
- Siemens Healthineers AG (Germany)
- GE Healthcare (US)
- Brainlab AG (Germany)
- Osso VR, Inc. (US)
- 3D Systems Corporation (US)
- Hologic, Inc. (US)
- Echopixel Technologies, Inc. (US)
- Vuzix Corporation (US)
Mixed Reality in Healthcare Market Recent Developments
- In March 2023, Microsoft announced that it is partnering with Mayo Clinic to develop a mixed reality platform for surgical training. The platform will use Microsoft's HoloLens 2 headset to provide surgeons with a more immersive and interactive training experience.
- In February 2023, Google announced that it is developing a mixed reality app for remote patient monitoring. The app will use Google's Project Tango technology to allow doctors to see and interact with patients in real time.
- In January 2023, Atheer announced that it has raised $10 million in funding to develop its mixed reality platform for healthcare. The platform will be used to provide surgeons with real-time information and guidance during surgery.
- In December 2022, Medical Realities announced that it has partnered with Johnson & Johnson to develop a mixed reality app for patient education. The app will use Medical Realities' MR platform to provide patients with an interactive way to learn about their medical conditions.
- In November 2022, Augmedix announced that it has raised $50 million in funding to expand its mixed reality platform for clinical documentation. The platform will be used to help doctors document patient care more efficiently and accurately.
Mixed Reality in Healthcare Key Market Trends
- Integration of mixed reality technologies :A key market trend in the global mixed reality in healthcare market is the rapid adoption and integration of mixed reality technologies across various healthcare applications. Mixed reality, which combines elements of virtual reality and augmented reality, offers unique opportunities to transform the healthcare industry by enhancing patient care, medical training, and surgical procedures. Healthcare providers are increasingly recognizing the potential of mixed reality in improving diagnosis, treatment, and patient outcomes. The use of mixed reality in healthcare enables medical professionals to visualise complex medical data, such as 3D anatomical models or medical imaging, in an immersive and interactive manner.
Mixed Reality in Healthcare Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global mixed reality in healthcare market analysis, it is witnessing significant growth and is poised to experience substantial advancements in the coming years. One of the key drivers of the market is the growing need for enhanced healthcare services and improved patient outcomes. Mixed reality applications in healthcare enable healthcare professionals to visualise medical data in real-time, aiding in accurate diagnosis, treatment planning, and personalised patient care. The immersive and interactive nature of mixed reality facilitates better communication between healthcare providers and patients, leading to enhanced patient engagement and satisfaction. Another significant driver is the increasing adoption of mixed reality in medical training and education. Mixed reality platforms offer realistic simulations and virtual environments for medical students and healthcare professionals to practise surgical procedures, enhance their skills, and gain hands-on experience in a safe and controlled setting. This technology has the potential to bridge the gap between theory and practice, improving the overall quality of medical training and reducing medical errors.
| Report Metric | Details |
|---|---|
| Market size value in Healthcare | USD 1172.37 billion |
| Market size value in 2031 | USD 32201.44 billion |
| Growth Rate | 44.50% |
| Base year | 2023 |
| 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 Mixed Reality in Healthcare 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 Mixed Reality in Healthcare 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 Mixed Reality in Healthcare 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 Mixed Reality in Healthcare 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 Mixed Reality in Healthcare Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mixed Reality in Healthcare 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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