Augmented Reality (AR) in Healthcare Market to reach at a CAGR of 21.9% by 2026

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According to a study of Research Dive, augmented reality in healthcare market forecast shall surpass $1,565.6 million by 2026, registering a CAGR of 21.9% from 2019 to 2026. The Asia-Pacific AR market for healthcare should grow $349 Million by 2026 at a compound annual growth rate (CAGR) of 21.1% from 2019 to 2026.

Augmented reality (AR) is an interactive experience, which provide platform to integrate data visualization into diagnostic and treatment processes for more work efficiency of physician. Augmented reality (AR) is more easy to access coupled with many healthcare businesses are preferring its use as significant tool for the healthcare professional’s (HCP) communication.

The global augmented reality in healthcare market will be majorly driven by increasing focus to reduce the workload of professionals working in the healthcare sector, coupled with strict regulations about various clinical trials and laboratory tests. Technology costs, along with rising threats concerning data security might restrain the growth of augmented reality in healthcare market over the anticipated period. On the other hand, AR technology provides benefits in many areas of care management such as cancer therapy, depression therapy, assisted living.

Displays Component segment for AR in healthcare market forecast will be $334.5 million by the year 2026, increasing from $61.0 million in 2018, growing at a CAGR of over 23.7% throughout the projected period. It majorly due to the rising need for healthcare output devices like head-mounted displays.

The global augmented reality in healthcare market for mobile device based segment will generate revenue of 409.7 million by the end of year 2026, growing at a CAGR of over 22.6% throughout the projected period. Based on the of application, global AR in healthcare market is fragmented into Mobile Device-Based, Vision-Based, Wearable and Spatial. Tablets and smartphones play the significant role in this technology, as these devices are inbuilt with Global positioning system (GPS) and compass for the purpose of route navigation.

North America AR in healthcare market size is dominant and it will reach $664.9 million by the end of 2026, growing at 21.3% CAGR throughout the projected period. It is majorly due to the adoption of technological advancements in augmented reality in healthcare industry.

Asia-Pacific’s AR in healthcare market size will grow at 22.1% CAGR, and will register revenue of $ 349.0 million by the end of 2026. The Asia-Pacific market is predicted to be the rapid growing region for Augmented reality technology in healthcare market. Lack of proper healthcare facilities along with growing demand for AR from healthcare professionals anticipated to drive the augmented reality in healthcare market growth of Asia-Pacific region.

Some key players in the global augmented reality in the healthcare market include Google LLC., DAQRI, Mindmaze, Microsoft Corporation, Wikitude GmbH, Medical Realities, CAE Healthcare, Oculus VR, Atheer, Augmedix, Philips Healthcare, 3D Systems, Blippar, VirtaMed, Siemens Healthineers, Magic Leap, Inc., Virtually Better, and Osterhout Design Group among several others. Players using updated technologies for AR of healthcare will have good probability of having success in the rapidly blooming market. For instance, NuEyes tied-up with a U.S. major national insurance carrier, making smart glasses used for AR reality which are more affordable.