How Has The Augmented Reality In Health Care Market Size Evolved Historically?
The augmented reality in health care market has seen considerable growth due to a variety of factors.
• In recent times, there has been a substantial expansion in the augmented reality market within the healthcare sector. The projections indicate growth from $3.05 billion in 2024 to $3.95 billion in 2025, accounting for a compound annual growth rate (CAGR) of 29.4%.
Factors like improved surgical methods, advancements in medical training and education, patient care and treatment planning, as well as innovations in remote assistance, telemedicine, and diagnostic imaging enhancements have played a significant role in the growth witnessed in the historical period.
What are the Market Size and Expected Growth Rates for the Augmented Reality In Health Care Market?
The augmented reality in health care market is expected to maintain its strong growth trajectory in upcoming years.
• In the ensuing years, we can anticipate a considerable surge in the market size of augmented reality in health care, with expectations set for it to reach $12.89 billion in 2029, boasting a compound annual growth rate (CAGR) of 34.4%.
This projected growth within the forecast period can be credited to the widespread use in rehabilitation, the increased application in mental health care, alongside improved patient participation and compliance. The forecast period also identifies key trends such as area-specific diagnostic imaging, progress in pharmaceutical research, AR wearable devices for health surveillance, amplified aid for mental health, and their integration with electronic health records (EHR).
What Factors Are Driving Growth In The Augmented Reality In Health Care Market?
The growth of the augmented reality in the healthcare sector is anticipated to be driven by the steadily increasing aged population in the years to come. Globally, the number of elderly people continues to rise rapidly and this trend is projected to persist throughout the forecast period. The elderly are more susceptible to various diseases and health complications that often necessitate surgical interventions. AR's application in surgeries supports surgeons by aligning the patient's physical anatomy with their MRI and CT scan data. For instance, the Physical Review B (PRB) Journal estimates that by 2060, the American population of 65 and older will almost quadruple, reaching 95 million and constituting 23% of the country’s total population. Therefore, the growth of the augmented reality in the healthcare market is propelled by the rising geriatric population.
How Is The Globa Augmented Reality In Health Care Market Divided Into Key Segments?
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
Subsegments:
1) By Hardware: AR Headsets, Smart Glasses, Wearable AR Devices, Mobile Devices, Sensors and Cameras
2) By Software: AR Applications, Simulation Software, Remote Assistance Software, Patient Engagement Software, Data Management Software
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What Trends Are Reshaping The Augmented Reality In Health Care Market?
The AR healthcare market is being moulded by new product launches. Major players in the healthcare field are prioritizing innovative products for AR in healthcare to enhance the precision of treatments. For example, in July 2022, Enovis, a medical technology firm based in the Netherlands, rolled out ARVIS, an augmented reality visualization and information system, which has already been utilized in over 200 successful cases in the US. This FDA-approved system is the only dedicated hands-free AR technology designed specifically for orthopedic surgeons, providing real-time, accurate guidance during hip and knee surgeries. It enables surgeons to conduct surgical procedures with augmented assistance, enhancing their ability to visualize and execute. The goal of ARVIS is to provide surgeons with better information and increased confidence, as well as a more comprehensive surgical experience that integrates smoothly into their existing workflow, all without the need for intrusive or unnecessary equipment.
Who Are the Key Players in the Augmented Reality In Health Care Market?
Major companies operating in the augmented reality in health care market include:
• 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
• Nanome Inc.
• Brain Power Inc.
• OxfordVR Ltd.
• Health Scholars Inc.
• MediView XR Inc.
• ARToolworks Inc.
• CAE Healthcare Inc.
What are the Regional Insights into the Augmented Reality In Health Care Market?
North America was the largest region in the augmented reality in health care market in 2024. 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.
