Global AR/VR/MR in Healthcare Market is Expected to Represent Highest Incremental Opportunity Revenue of USD 22,437.6 Million By 2030 | IGR

The Global AR/VR/MR (Augmented Reality/Virtual Reality/Mixed Reality) in Healthcare Market is experiencing remarkable growth, with a projected Compound Annual Growth Rate (CAGR) of 29.84%, aiming to reach USD 22,437.6 million by 2030. This exponential growth is attributed to the increasing adoption of AR & VR technologies in medical settings, optimizing surgical procedures, and revolutionizing the efficiency of patient treatment. However, the industry faces challenges related to security and privacy, but the pressing need for innovative approaches to prevent medical errors presents significant opportunities for market players.

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AR & VR: Transforming Healthcare with Precision and Efficiency

The integration of AR and VR technologies in healthcare is ushering in a new era of precision and efficiency. Augmented reality offers numerous opportunities across various healthcare domains, including medical training, surgical assistance, diagnostics/imaging, and rehabilitation. In surgical training, AR is employed for telementoring, guiding trainees by demonstrating proper surgical techniques on AR screens. Virtual reality aids in training residents, assisting surgeons in pre-operative planning and educating patients, contributing to improved surgical outcomes.

These technologies find extensive applications in various surgical specialties, including nephrectomy, neurosurgery, orthopedics, and laparoscopic surgery. Notably, researchers in China have successfully applied AR to spinal surgery, providing surgeons with intuitive real-time information. Similarly, the Fraunhofer Research Institute's project, MEVIS, utilizes AR technology during liver surgeries, aiding surgeons in locating blood vessels within the organ by overlaying 3D X-ray image data on the actual operation. This amalgamation of AR & VR technologies enhances the visualization of CT or MRI data during surgical procedures.

The Rise of Mixed Reality in Healthcare

The emergence of mixed reality (MR), which combines Virtual Reality (VR), Augmented Reality (AR), and Artificial Intelligence (AI), is revolutionizing medical technology. Advanced medical devices and procedures require sophisticated training solutions, such as simulation and MR technologies. Intricate procedures like intracardiac echocardiography and cardiac assist device implantation are becoming more accessible through AR/VR/MR technologies.

To meet the stringent training requirements set by regulatory and certification agencies, market players like CAE Healthcare and GE Healthcare are introducing commercial Microsoft HoloLens mixed reality applications to the medical simulation market. These applications integrate holographically modeled physiology into simulators, enabling learners to visualize human anatomy during training.

Challenges: Security, Privacy, and Lack of Regulation

Despite its transformative potential, the AR/VR/MR industry faces significant challenges. Privacy and security issues loom large, with concerns about data breaches, inconsistencies in augmented reality programming, and potential negligence. The lack of defined regulations in the augmented reality environment further complicates matters. AR/VR/MR technologies, by their nature, add digital elements to the real world, diverting attention from the physical environment.

Addressing Medical Errors Through Simulation

Medical errors remain a pressing concern in healthcare, contributing to significant patient harm and even fatalities. In the United States, more than 250,000 deaths annually result from medical errors, according to Johns Hopkins patient safety experts. The WHO has reported a 1 in 300 chance of patient harm during healthcare. Simulation-based training plays a pivotal role in mitigating medical errors by providing clinicians with a risk-free environment to enhance their skills, knowledge, and expertise. Medical simulation has been shown to increase clinical competency, improve patient outcomes, reduce medical errors, and contribute to cost savings within the healthcare system.

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. AR/VR/MR in Healthcare Market Highlights

2.2. AR/VR/MR in Healthcare Market Projection

2.3. AR/VR/MR in Healthcare Market Regional Highlights

Chapter 3. Global AR/VR/MR in Healthcare Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Analysis of COVID-19 impact on the AR/VR/MR in Healthcare Market

3.4. Porter's Five Forces Analysis

3.5. IGR-Growth Matrix Analysis

3.5.1. IGR-Growth Matrix Analysis by Component

3.5.2. IGR-Growth Matrix Analysis by Device Types

3.5.3. IGR-Growth Matrix Analysis by End User

3.5.4. IGR-Growth Matrix Analysis by Application

3.5.5. IGR-Growth Matrix Analysis by Region

3.6. Value Chain Analysis of AR/VR/MR in Healthcare Market

Chapter 4. AR/VR/MR in Healthcare Market Macro Indicator Analysis

Chapter 5. Global AR/VR/MR in Healthcare Market by Component

5.1. Hardware

5.2. Software

5.3. Services

Chapter 6. Global AR/VR/MR in Healthcare Market by Device Types

6.1. Augmented Reality (AR) Devices

6.2. Virtual Reality (VR) Devices

Chapter 7. Global AR/VR/MR in Healthcare Market by End User

7.1. Hospitals, Clinics, and Surgical Centers

7.2. Research Organizations and Pharma Companies

7.3. Government and Defense Institutions

7.4. Research and Diagnostics Laboratories

7.5. Others

Chapter 8. Global AR/VR/MR in Healthcare Market by Application

8.1. Surgery

8.2. Fitness Management

8.3. Patient Care Management

8.4. Pharmacy Management

8.5. Medical Training and Education

8.6. Others

Chapter 9. Global AR/VR/MR in Healthcare Market by Region 2023-2030

9.1. North America

9.1.1. North America AR/VR/MR in Healthcare Market by Component

9.1.2. North America AR/VR/MR in Healthcare Market by Device Types

9.1.3. North America AR/VR/MR in Healthcare Market by End User

9.1.4. North America AR/VR/MR in Healthcare Market by Application

9.1.5. North America AR/VR/MR in Healthcare Market by Country

9.2. Europe

9.2.1. Europe AR/VR/MR in Healthcare Market by Component

9.2.2. Europe AR/VR/MR in Healthcare Market by Device Types

9.2.3. Europe AR/VR/MR in Healthcare Market by End User

9.2.4. Europe AR/VR/MR in Healthcare Market by Application

9.2.5. Europe AR/VR/MR in Healthcare Market by Country

9.3. Asia-Pacific

9.3.1. Asia-Pacific AR/VR/MR in Healthcare Market by Component

9.3.2. Asia-Pacific AR/VR/MR in Healthcare Market by Device Types

9.3.3. Asia-Pacific AR/VR/MR in Healthcare Market by End User

9.3.4. Asia-Pacific AR/VR/MR in Healthcare Market by Application

9.3.5. Asia-Pacific AR/VR/MR in Healthcare Market by Country

9.4. RoW

9.4.1. RoW AR/VR/MR in Healthcare Market by Component

9.4.2. RoW AR/VR/MR in Healthcare Market by Device Types

9.4.3. RoW AR/VR/MR in Healthcare Market by End User

9.4.4. RoW AR/VR/MR in Healthcare Market by Application

9.4.5. RoW AR/VR/MR in Healthcare Market by Sub-region

Chapter 10. Company Profiles and Competitive Landscape

10.1. Competitive Landscape in the Global AR/VR/MR in Healthcare Market

10.2. Companies Profiles

10.2.1. Microsoft Corporation

10.2.2. Philips Healthcare

10.2.3. Intuitive Surgical

10.2.4. CAE Healthcare

10.2.5. 3D Systems, Inc.

10.2.6. Hologic Inc.

10.2.7. Laerdal Medical

10.2.8. Augmedix

10.2.9. Firsthand Technology

10.2.10. Medical Realities

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of AR/VR/MR in Healthcare.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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