Wednesday, 27 October 2021 03:16 GMT

Augmented Reality in Healthcare Market Size to Reach $4.23 billion & Growing at a CAGR of 27.4% by 2026


(MENAFN- EIN Presswire)

AR in Healthcare Market

AR in healthcare has helped surgeons as well as nurses and doctors to interact with patients using AR applications.

PORTLAND, OR, UNITED STATES, September 19, 2021 /EINPresswire.com / -- Increase in application of AR in rehabilitation, diagnostic imaging, surgical simulation, and patient care management along with surge in number of AR-based startups propel the growth of the global AR in healthcare market. However, issues regarding data privacy and lack of adequate infrastructure restrain the market growth. On the other hand, increase in investments in AR technologies and favorable government policies to integrate novel technologies in the healthcare are expected to create new opportunities in the next few years.

Augmented Reality (AR) in Healthcare Market generated $609.60 million in 2018 and is expected to generate $4.23 billion by 2026, witnessing a CAGR of 27.4% from 2019 to 2026. The report provides a detailed analysis of changing market trends, major segments, top investment pockets, current market size & projections, and competitive landscape.

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On the basis of technology, the handheld segment accounted for more than three-fifths of the total market share of the market in 2018, and is expected to maintain its lead in terms of revenue during the forecast period. This is due to increase in utilization and convenience of AR technology in devices. However, the head mounted segment is estimated to grow at the highest CAGR of 27.9% from 2019 to 2026.

On the basis of end user, the hospitals & clinics segment accounted for the highest market share of the market in 2018, accounting for nearly three-fifths of the total market share, and would maintain its dominance based on revenue during the forecast period. This is attributed to rise in AR applications for surgeons for availing assistance at the time of surgeries. However, the research laboratories segment is estimated to maintain a CAGR of 26.8% from 2019 to 2026.

Geographically, North America contributed to the highest market share, accounting for more than two-fifths of the total market in 2018, and is estimated to maintain its lion's share during the forecast period. However, Asia-Pacific is estimated to witness at the highest CAGR of 29.3% from 2019 to 2026.

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The report provides a comprehensive analysis of the key players operating in the global AR in healthcare market, which include Microsoft Corporation, Alphabet Inc. (Google), Sony Corporation, Siemens (Siemens Healthcare), Koninklijke Philips N.V. (Philips), AccuVein Inc., EchoPixel, DAQRI, Atheer, Inc, and Orca Health, Inc. The other players in the value chain (companies not included in the report) include Augmedix, VirtaMed, Blippar, CAE Healthcare, Magic Leap, Inc., Virtually Better and Osterhout Design Group, among others.

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