Augmented and virtual reality is the new way patients are diagnosed & treated. Augmented reality adds digital elements to live view often by utilizing the camera on Smartphone whereas; the virtual reality indicates complete involvement experience that shuts out the substantial world. Virtual medical learning, remote surgery, hands on training, etc. are common applications of these two technologies in the healthcare sector.
According to study, “Asia-Pacific Healthcare Augmented Reality and Virtual Reality Market by Technology, Offering, Device Type, Application, End-user, and Country 2019-2026: Trend Forecast and Growth Opportunity” the key companies operating in the Asia-Pacific Healthcare Augmented Reality and Virtual Reality Market are Alphabet Inc., EON Reality, Artificial Life, Inc., Facebook, CAE Healthcare, Hologic, Inc., Foursquare Labs, Inc., Immersion Corp., GE Healthcare, Intuitive Surgical Inc., HTC, Microsoft, Medtronic, Philips Healthcare, Orca Health, Simulab Corp, Samsung, TheraSim, Inc., Siemens Healthcare, VirtaMed, Sony, Vuzix Corp.
Based on technology, Asia-Pacific Healthcare Augmented Reality and Virtual Reality market is segmented as virtual reality and augmented reality. Virtual reality is further sub-segmented as semi-immersive & fully immersive technology and non-immersive technology. Augmented reality is further sub-segmented as marker-based augmented reality (active marker and passive marker) and marker-less augmented reality (image based processing and model based tracking). Based on offering type, market is segmented as software (imaging solutions, software developer kits, content platforms, enterprise solutions and others), hardware (display & projectors, semiconductor component, cameras, position trackers and others) and services (system integration, consulting services, cloud services and others). Based on device type, market is segmented as Head-Mounted Display (HMD), augmented reality devices, virtual reality devices, handheld device, projector & display wall, gesture-tracking devices and others. Based on application, market is segmented as pain management, rehabilitation & behavioral neurology, surgery, medical training & education, Virtual Reality Expose Therapy (VRET), fitness management, diagnosis and others. In addition, based on end-user, market is segmented as hospitals & clinics, Pharma companies & research centers, academic institutes, research & diagnostics laboratories, advertising & government agencies and others.
The Asia-Pacific Healthcare Augmented Reality and Virtual Reality market is driven by increase in investment in the healthcare augmented reality & virtual reality, followed by growth in need to reduce the healthcare costs and increase in penetration of connected devices in the healthcare sector. However, lack of expertise among medical practitioners to adopt new technologies and lack of competence in deployment of the augmented & virtual reality solutions may impact the market. Moreover, rise in use of augmented & virtual reality in fitness management is a key opportunity for market.
The Asian-Pacific region is presumed to be the fastest advancing market in the years to follow owing to increase in patient pool suffering from chronic diseases and remarkable spike in the use of the internet & Smartphone’s. The region also profits from the rising spending on healthcare and increasing government support for adoption of digital technologies in the healthcare industry. The Asia-Pacific augmented and virtual reality market in healthcare industry is likely to grow at an astonishing 2019 to 2026 CAGR of 39.9%, representing an addressable growing market of US $13.76 billion during the forecast period.
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Asia-Pacific Healthcare Augmented Reality and Virtual Reality Market
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