The Augmented Reality In Health Care Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Augmented Reality In Health Care Global Market Report 2024, 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).
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.
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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
Major companies operating in the augmented reality in the healthcare market are focusing on technological advancements such as image-guided therapy platforms to meet evolving demands and enhance their competitive edge. An image-guided therapy platform employs real-time imaging to assist medical procedures and interventions with precision and accuracy. For instance, in February 2021, Royal Philips, a Netherlands-based technology company, ClarifEye Augmented Reality Surgical Navigation marks an industry-first for enhancing minimally invasive spine procedures in the Hybrid Operating Room, such as Philips’ Hybrid Suite, combining low X-ray dose 2D and 3D visuals with 3D augmented reality (AR) to offer real-time intra-operative guidance, ensuring precise pedicle screw placement in spinal fusion surgeries. Integrated into the Philips Azurion image-guided therapy platform, this solution streamlines workflow, enabling intra-procedural navigation and verification, minimizing reliance on post-operative CT scans for accurate screw placement.
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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26. South America Augmented Reality In Health Care Market
27. Brazil Augmented Reality In Health Care Market
28. Middle East Augmented Reality In Health Care Market
29. Africa Augmented Reality In Health Care Market
30. Augmented Reality In Health Care Market Competitive Landscape And Company Profiles
Top Major Players:
- Google LLC
- Microsoft Corporation Inc
- Sony Corporation
- Siemens Healthineers
- Koninklijke Philips N.V.
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