IT-enabled companies venturing into augmented reality in healthcare

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.

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.

Top players covered in report are: Zugara Inc., Vuzix Corporation, Qualcomm Incorporated, Artoolworks Inc, Augmented Pixels Co., Kooaba Ag, and Layar B. V.

Dynamics of the market
Drivers: In the last few years, there has been a growth in the use of Augmented Reality in Healthcare in the healthcare sector. This increased adoption is predicted to boost the Augmented Reality in Healthcare market in the forecast period. Additionally, the growing use of Augmented Reality in Healthcare in the healthcare sector is expected to drive the market forward.

Opportunities: Increase in the application of Augmented Reality in Healthcare in the healthcare sector is expected to offer numerous growth opportunities to the market. Along with this, the increasing adoption of Augmented Reality in Healthcare in the healthcare sector is predicted to take the market higher.

Restraints: According to market analysts, long-term health problems associated with excessive use of Augmented Reality in Healthcare, however, may become a challenge in the growth trajectory of the Augmented Reality in Healthcare market.

Covid-19 impact on the market
Since the outbreak of the Covid-19 pandemic, strict lockdowns and travel restrictions were put in place by various governments across the world. This negatively impacted several industries and businesses causing disruptions in supply chains and manufacturing processes. The Augmented Reality in Healthcare market, however, has been an exception. Over the years, the demand for Augmented Reality in Healthcare has increased in various sectors including healthcare, media and entertainment, education, retail, etc. This growth in demand and increasing usage of the technology helped the market post excellent growth figures despite the pandemic.

Augmented reality in healthcare market scope of the report
This report offers past, present as well as future analysis and estimates for the Augmented Reality in Healthcare Market. The market estimates that are provided in the report are calculated through an exhaustive research methodology. The research methodology that is adopted involves multiple channels of research, such as – primary research, secondary research, and subject-related expert advice. The market estimates are calculated based on the influence of the current market dynamics along with various economic, social, and political factors on the Augmented Reality in Healthcare Market. Also, various regulations, government spending, and research and development growth define the market data. Both positive, as well as negative changes to the market, are taken into consideration for the market estimates.

Augmented reality in healthcare market segmentation

• Product Type
  • Augmented reality
  • AR Displays
  • AR Sensors
  • AR Input Devices
  • AR Semiconductor Components
  • Virtual Reality (VR)
  • VR Semiconductor Components
  • VR Devices
  • VR Sensors
• Technology
  • 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

Research methodology
The report includes first-hand information collected from key stakeholders through quantitative and qualitative analyses based on the parameters of the Porter Five Force model. The report highlights macroeconomic indicators, parent market trends and growth drivers. To gain a better understanding of the market, primary and secondary research has been conducted. The data used in the report were subjected to a multi-step check to ensure both the authenticity and quality of the information provided. Bottom-up and top-down approaches are also used to ensure the credibility of appraisals and market segments. Coherent Market Insights