Overview and Scope
Augmented reality (AR) is a technology that uses real-time information in the form of text, graphics, and audio integrated with real-world objects to create superimposed digital content.
Sizing and Forecast
The augmented reality in health care market size has grown exponentially in recent years. It will grow from $2.38 billion in 2023 to $3.11 billion in 2024 at a compound annual growth rate (CAGR) of 30.6%. The growth in the historic period can be attributed to enhanced surgical procedures, medical training and education, patient care and treatment planning, remote assistance and telemedicine, diagnostic imaging enhancements.
The augmented reality in health care market size is expected to see exponential growth in the next few years. It will grow to $9.49 billion in 2028 at a compound annual growth rate (CAGR) of 32.2%. The growth in the forecast period can be attributed to widespread adoption in rehabilitation, expanded use in mental health treatment, patient engagement and adherence. Major trends in the forecast period include are-based diagnostic imaging, pharmaceutical research and development, AR wearables for health monitoring, enhanced mental health support, integration with electronic health records (EHR).
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Segmentation & Regional Insights
The augmented reality in health care market covered in this report is segmented –
1) By Product: Hardware, Software
2) By Technology: Wearable, Vision-Based, Spatial, Mobile Device-Based
3) By Device Type: Head-Mounted Displays, Handheld Devices, Other Device Types
4) By End-User: Hospitals And Clinics, Research Laboratories, Other End Users
North America was the largest region in the augmented reality in health care market in 2023. The regions covered in the augmented reality in health care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing geriatric population is expected to propel the growth of augmented reality in the healthcare market over the coming years. The elderly population is increasing rapidly across the world, and it is expected to continue over the forecast period. The older population is prone to several diseases and ailments that require surgery. The use of AR in surgeries allows surgeons to visualize a patient’s anatomy side by side with their MRI and CT scan data. For instance, according to the Physical Review B (PRB) Journal, by 2060, the number of Americans aged 65 and above is expected to nearly quadruple to 95 million, accounting for 23% of the total population. Therefore, the increasing geriatric population drives the augmented reality in healthcare market growth.
Key Industry Players
Major companies operating in the augmented reality in health care market report are Google LLC, Microsoft Corporation Inc., Sony Corporation, Siemens Healthineers, Koninklijke Philips N.V., 3D Systems Corporation, Magic Leap Inc., Augmedics Ltd., Augmedix Inc., AccuVein Inc., VirtaMed AG, BioDigital Inc., Vuzix Corporation, Karuna Labs Inc., AppliedVR Technology, Osterhout Design Group Inc., Atheer Inc., EchoPixel Inc., Medsight Solutions LLC, FundamentalVR Ltd., Augmented Intelligence Inc., seeCOLe LLC, DAQRI Inc., Nanome Inc., Brain Power Inc., OxfordVR Ltd., Health Scholars Inc., MediView XR Inc., ARToolworks Inc., CAE Healthcare Inc.
The augmented reality in health care market report table of contents includes:
1. Executive Summary
2. Augmented Reality In Health Care Market Characteristics
3. Augmented Reality In Health Care Market Trends And Strategies
4. Augmented Reality In Health Care Market – Macro Economic Scenario
5. Global Augmented Reality In Health Care Market Size and Growth
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32. Global Augmented Reality In Health Care Market Competitive Benchmarking
33. Global Augmented Reality In Health Care Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Augmented Reality In Health Care Market
35. Augmented Reality In Health Care Market Future Outlook and Potential Analysis
36. Appendix
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