Augmented reality is gaining prominence among medical personnel for various applications ranging from surgical preparation assessment to minimally-invasive surgery and rehabilitation. Various healthcare IT-enabled companies are venturing into the augmented reality in healthcare market to capitalize on the high growth opportunities on offer. The million dollar market is witnessing technology disruption and is expected to grow at a robust double digit CAGR during 2016–2024. Augmented reality is finding wide application from medical training to pharmacy benefit management. Moreover, apart from saving patients’ lives, existing processes in healthcare organizations can be made more efficient and precise with the help of augmented reality.
Augmented reality in healthcare market outlook is set to run on similar business model as that of IT industry in 1980s. Many new players are expected to emerge in the market. However, only few would be able to consolidate their position worldwide. Moreover, mergers and acquisitions is projected to be the prevalent trend in augmented reality in healthcare market in near future. As a result, the market is set to be competitive in the near future, with sharp decline in overall prices during the forecast period.
Request A Sample Copy: https://www.coherentmarketinsights.com/insight/request-sample/15
Development of Healthcare IT infrastructure to Support growth of augmented reality in healthcare market scenario
Technological advancements and high demand to minimize healthcare complexity is expected to bolster growth in adoption of augmented reality in near future. Augmented reality in healthcare market revenue is expected to be further driven by increasing workload of healthcare professionals and stringent regulatory compliances in clinical trials and laboratory testing. Rise in healthcare expenditure is a macroeconomic factor that would drive market growth to some extent. Growth is expected to be concentrated in developed regions with robust healthcare infrastructure such as North America and Europe. However, high cost and data security concern associated with augmented reality in healthcare technology would restrict demand to a certain extent during the study period.
Augmented Reality In Healthcare Market Taxonomy:
Coherent market insights has segmented the market on the basis of:
AR Input Devices
AR Semiconductor Components
Virtual Reality (VR)
VR Semiconductor Components
Augmented Reality (AR)
Wearable AR System
Vision-based AR System
Mobile Device-based AR System
Spatial AR System
Virtual Reality (VR)
Semi-immersive VR System
Fully-immersive VR System
Non-immersive VR System
Asia Pacific augmented reality in healthcare market size is projected to grow steadily over the following decade. Asia Pacific is a largely untapped market due to lack of proper healthcare facilities in some Asian countries. However, Asia Pacific (India, China, Australia, Japan, and Malaysia, among others) is expected to be the most lucrative market for augmented reality in healthcare in the near future due to range of driving factors. Rapid economic development and improvement of the healthcare infrastructure is expected to drive regional growth. Latin America and MEA at nascent stage in adoption of the technology in the healthcare sector, with very few companies operating in these regions. However, the markets in these regions are expected to follow upward trajectory toward the latter half of the forecast period.
Get PDF Brochure of This Business Report: https://www.coherentmarketinsights.com/insight/request-pdf/15
Product innovation and emphasis on distribution channels are key strategies adopted by augmented reality in healthcare market players
Some of the key market players include Zugara Inc., Vuzix Corporation, Qualcomm Incorporated, Artoolworks Inc, Augmented Pixels Co., Kooaba Ag, and Layar B. V.
Key players in the market are involved in various strategies such as collaboration and partnership to gain competitive edge in the market.
In September 2018, Vuzix Corporation, a supplier of smart glasses and augmented reality technology products, entered into partnership with 1Minuut Innovation and Deloitte Netherlands to bring augmented reality innovation through smart glasses across the healthcare industry.
In April 2019, Vuzix entered into partnership with VSee, a telemedicine technology supplier to create smart glasses, which will be offered for telemedicine.
In October 2018, Vuzix’s Blade Smart Glasses App received Health Award at Cancer Corporation Code App Challenge at 2018 Cerner Health Conference held in Kansas, U.S.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Subscribe to our newsletter to get notification about new updates,information, discount, etc..