Global Healthcare Augmented Reality & Virtual Reality Market to Grow on Account of Growing Adoption of the Advanced Technologies in the Healthcare Sector; Market to Grow with a CAGR of 35.0% During 2021-2030
Kenneth Research has released a report titled Healthcare Augmented Reality & Virtual Reality Market: Global Demand Analysis & Opportunity Outlook 2030 which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
In one of its statistics by the World Health Organization (WHO), deaths caused due to cancer in the year 2020, registered to around 10 Million. Moreover, the most common causes of cancer deaths in the same year were lungs with 1.80 Million deaths, colon & rectum with 935000 deaths, and liver with 830000 deaths.
The statistics portray the growing concern for different type of chronic diseases, such as cancer, stroke, arthritis, and diabetes amongst others. Most of these diseases require healthcare professionals to diagnose very minutely and also require advanced diagnostic tools. Over the years, with the advent in information technology as well as in the healthcare sector, technologies such as augmented reality and virtual reality have been fused with different healthcare applications, backed by the numerous benefits associated with this fusion. Besides this, the growing adoption of these advanced technologies in the healthcare sector, along with the use of these tools in the early diagnosis of diseases is also expected to boost the market growth in the coming years.
The global healthcare augmented reality & virtual reality market is anticipated to grow with a CAGR of 35.0% over the forecast period, i.e., 2021 – 2030. The market is estimated to garner a revenue of USD 39083.4 Million by the end of 2030, up from a revenue of USD 2010.2 Million in the year 2020. The market is segmented by offering into hardware, software, and services. By the end of 2030, the software segment is anticipated to garner the largest revenue of USD 20361.2 Million, up from a revenue of USD 1056.6 Million in the year 2020.
Geographically, the global healthcare augmented reality & virtual reality market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. By the end of 2030, the market in North America, amongst the market in all other regions, is projected to display the largest revenue of USD 16004.6 Million by the end of 2030, up from a revenue of USD 868.4 Million in the year 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
However, the concern for data breach, along with the high cost of the setup are some of the major factors predicted to hinder the market growth in the coming years.
This report also provides the existing competitive scenario of some of the key players of the global healthcare augmented reality & virtual reality market, which includes company profiling of Medical Realities Ltd., Osso VR, Inc., Orca Health, Inc., Psico Smart Apps, S.L., Surgical Theater, Inc., Vuzix Corp., CAE Inc., EchoPixel, Inc., Firsthand Technology Inc., MindMaze, Inc., Google LLC, Augmedics, Koninklijke Philips N.V., Microsoft Corp., Atheer, Inc., and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Healthcare Augmented Reality & Virtual Reality Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global healthcare augmented reality & virtual reality industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global healthcare augmented reality & virtual reality market in the near future.
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