Virtual Reality in Healthcare Market is Poised To Reach Around $5.1 Billion By 2025: Grand View Research, Inc.
The
global augmented reality & virtual reality in healthcare market is
expected to reach USD 5.1 billion by 2025 according to a new report by Grand
View Research, Inc. The growing adoption of Augmented Reality (AR) &
Virtual Reality (VR) in medical field, increasing investments in such emerging
technologies, and constant developments in healthcare IT are some of the key
factors responsible for growth of this market.
The
market is majorly driven by applications in surgical simulations, diagnostic
imaging, patient care management, rehabilitation, and health management. The
application of AR & VR in training medical professionals provides them
enhanced understanding of anatomy & physiology and assists in complicated
surgeries that require precision, thus, resulting in reduced complications and
lesser trauma. VR helps patients get over their worst fears and phobias through
the exposure therapy. These technologies are also gaining significance in
fitness management due to the development of various health apps that help
train doctors as well as patients.
The
use of these advanced technologies in live streaming of surgeries for medical
education coupled with patient monitoring & pain management serves as a
market opportunity and is predicted to drive the segment substantially. These
new disruptive technologies have revolutionized medical field and provide an
innovative approach for transforming healthcare experience. The increasing
focus on streamlining medical operations along with demand for better delivery
of care services are driving the growing adoption of these technologies.
Increase
in number of startups has led to higher demand for investments to fund
development of AR & VR technologies. The market is witnessing an increase
in private investments by various investors, which is expected to boost growth
further. For instance, Swiss-based startup MindMaze is a well-funded company
that has raised USD 100 million from Hinduja Group for development of VR
hardware & software. In addition, increased government funding and
supportive initiatives are expected to drive growth.
Browse full
research report on Virtual Reality in Healthcare Market: https://www.grandviewresearch.com/industry-analysis/virtual-reality-vr-in-healthcare-market
Further key
findings from the report suggest:
- The
hardware segment held the majority of the revenue share in 2016 due to
rise in adoption of wearable devices in healthcare
- AR
dominated the technology segment in 2016 owing to its increasing adoption
in surgeries and medical training
- North
America dominated the global market for AR and VR due to greater adoption
of advanced technology and sophisticated infrastructure
- Asia
Pacific AR and VR market is expected to witness a lucrative growth of 33%
over the forecast period
- Some of
the key players include CAE HEALTHCARE; GE Healthcare; Intuitive Surgical;
Hologic, Inc.; Virtual Realities, LLC; and Philips Healthcare
Browse more
reports of this category by Grand View Research: https://www.grandviewresearch.com/industry/healthcare-it
Grand View Research has segmented the augmented reality & virtual
reality in healthcare market on the basis of component, technology and region:
Component
Outlook (Revenue, USD Million, 2014 - 2025)
- Hardware
- Software
- Service
Technology
Outlook (Revenue, USD Million, 2014 - 2025)
- Augmented
Reality
- Surgical
Application
- Rehabilitation
- Training
& Medical Education
- Virtual
Reality
- Simulation
- Diagnostics
- Virtual
Reality Exposure Therapy
- Rehabilitation
- Pain
Distraction
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
- South
Africa
Access
Press Release By Grand View Research: https://www.grandviewresearch.com/press-release/global-augmented-reality-ar-virtual-reality-vr-in-healthcare-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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