Global Augmented Reality in Healthcare Market Report 2022



Major Players of Augmented Reality in healthcare market are Microsoft Corporation, Sony Corporation, Siemens Healthineers, Koninklijke Philips NV, CAE Healthcare, 3D Systems, Augmedix, AccuVein Inc.

New York, March 21, 2022 (GLOBE NEWSWIRE) — announces the release of the “Augmented Reality In Health Care Global Market Report 2022” –
Osterhout Design Group Inc., Magic Leap Inc., Atheer Inc., VirtaMed and ARToolworks Inc.

The global Augmented Reality in Healthcare market is expected to grow from USD 1415.23 million in 2021 to USD 1862.37 million in 2022 at a compound annual growth rate (CAGR) of 31.6%. The change in growth trend is mainly due to companies stabilizing their production after meeting the demand which increased exponentially during the COVID-19 pandemic in 2021. The market is expected to reach 5,503.95 million dollars in 2026 with a CAGR of 31.1%.

The Augmented Reality in Healthcare market consists of the sale of Augmented Reality in Healthcare hardware and software by entities (organizations, individual merchants, and partnerships) that enable physicians to integrate data visualization in treatment and diagnostic procedures. The use of augmented reality in healthcare enables the generation of interactive and rich experiences that show how clinical instruments and new drugs interact with the patient’s body.

AR devices in healthcare use augmented technology to better perform surgeries and diagnoses using visualization and real-time data.

The main types of augmented reality products in healthcare are hardware and software. The hardware helps perform medical tasks such as surgeries and diagnostics more efficiently and accurately using AR technology, including smart glasses.

The different types of devices include head-mounted displays, wearable devices, etc. and use different technologies such as wearable, vision-based, spatial, mobile-based devices. It is implemented in various verticals such as hospitals and clinics, research laboratories and others.

North America was the largest region in the Augmented Reality in Healthcare Market in 2021. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.

Rising geriatric population is expected to propel the growth of AR in the healthcare market over the coming years. The elderly population is increasing rapidly across the world and is expected to continue during the forecast period.

The elderly population is prone to a number of diseases and conditions that require surgical procedures. The use of AR in surgical procedures allows surgeons to view a patient’s anatomy side-by-side with their MRI and CT scan data.

For example, according to the Physical Review B (PRB) Journal, by 2060 the number of Americans age 65 and older is expected to nearly quadruple to 95 million, or 23% of the total population. Hence, increasing geriatric population is driving the growth of AR in the healthcare market.

New product launches shape AR in the healthcare market. Major companies operating in the healthcare AR industry are focusing on product innovations for healthcare AR to improve treatment accuracy.

For example, in December 2019, Augmedics, an American company that provides augmented reality in healthcare, launched the Xvision Spine augmented reality surgical guidance device. The device is intended to allow doctors to see a patient’s 3D spinal anatomy during surgery as if they were using X-ray vision.

Vision allows the physician to move instruments and implants with precision while looking directly at the patient rather than at a distant screen.

In February 2020, Medtronic plc, a US-based medical technology company, acquired Digital Surgery for $300 million. The acquisition of Digital Surgery will energize Medtronic’s robotic guided surgery platform and benefit the company’s entire portfolio.

Digital Surgery is a UK-based digital health company that develops virtual reality and artificial intelligence technologies for doctors.

The countries covered in the Augmented Reality in Healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
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