Technological Innovation, during the Covid-19 Pandemic, to Promote the Development of Global Augmented Reality in Healthcare Market

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The world is facing an unpredicted change and many of the industries are experiencing thought infuriating situation due to the COVID-19 pandemic. The COVID-19 outbreak has sanguinely impacted the global augmented reality in healthcare market. AR in healthcare market provides stage to incorporate information revelation into treatment and analytic process. In addition, many healthcare organizations are focusing to reduce the workload of medical professionals. Besides, AR is also utilized for the vein visualization for accurate detection of vein in patients which in turn helps medical professionals to inject correctly in the vein for the first time without any chance of wrong assessment. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the AR in healthcare market. 

Our report includes:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

According to a new report published by Research Dive, the global augmented reality in healthcare market is projected to generate revenue of $1,918.6 million by 2026, at a CAGR of 25.5% in the forecast time period from 2019 to 2026. The global market is fragmented on the basis of component, technology, end-user, and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market. As per our analysts, increased utilization of AR for vein visualization and surgical visualization has increased the importance of augmented reality in healthcare market which in turn is driving the market growth.

Display Sensors Segment has Dominant Market Share

In light to component, the overall market is divided into display sensors, input devices, and semiconductor components. Among these, semiconductor components segment dominated the market in the year 2018 and is expected to contribute for $926.2 million in 2026. The upsurge in the adoption of display sensors such as goggles, smart devices, and others owing to the ability of enhancing the 4-way video conferencing in various devices. 

Wearable Segment Will Grow at a Significant Rate throughout the Forecast Years

Considering technology, the augmented reality in healthcare market is bifurcated into wearable, vision-based, spatial, and mobile device-based. The market for mobile device-based segment will witness to rise at a faster rate of 26.2% CAGR and is predicted to register for $502.1 million till the end of 2026. Wearable augmented devices are of different types such as glasses, smart-watches, headsets, lenses, and glass. These wearables dominated the market share owing to the application of smart-phones and smart devices for GPS and compass for navigation systems. These factors will fuel the market size in the forecast time. 

Healthcare Facility End-User Segment Will Grow at a Significant Rate throughout the Forecast Years

In view of end-user, the augmented reality in healthcare market is classified into research laboratories and healthcare facilities. The market for healthcare facilities segment will witness to rise at a faster rate of 26.4% CAGR and is predicted to register for $386.6 million till the end of 2026. Increasing adoption of AR technology for vein visualization in healthcare segment is anticipated for the growth of the market in the forecast period. 

Regional Outlook and Major Market Players

North America market has dominated the global market share, and is estimated to reach up to $814.9 million till 2026. This dominance is attributed due to the increased investments from various agencies for approval of AR technologies to adopt them in healthcare segment. Europe region will witness a remarkable growth rate for AR market in healthcare that is projected to generate revenue of $622.6 million by the end of 2026, at a CAGR of 26.2%. 

The most prominent players in the global augmented reality in healthcare market are Google, Microsoft, Mindmaze, Firsthand Technologies, Medical Realities, Atheer, Augmedix, Oculus, Intuitive Surgical, CAE Healthcare, and others.