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Market for Augmented Reality and Virtual Reality in Healthcare to Increase to $641m in 2018

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Market for Augmented Reality and Virtual Reality in Healthcare to Increase to $641m in 2018

October 14
22:19 2014
Global Augmented and Virtual reality in healthcare market
According to IndustryARC, the global market for augmented reality and virtual reality in the healthcare market is expected to grow from $280m in 2013 to around $641m in 2018.

The scope for augmented reality and virtual reality based apps in the healthcare segment is continually increasing. At present, the augmented reality based apps are used in the healthcare industry for various applications, like surgical pre-operation assessment, medical simulation, minimally invasive surgery and rehabilitation. Meanwhile, virtual reality based apps are also pretty common in the healthcare industry, like fully immersive 3D simulation experience for doctors, nurses, as a diagnostics tool, in surgery, phobia treatments, PTSD, autism treatments and dentistry These applications are commercialized, and at present, the scope for their growth is immense.

According to IndustryARC, the global market for augmented reality and virtual reality in the healthcare market is expected to grow from $280m in 2013 to around $641m in 2018.

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http://industryarc.com/Report/78/augmented-reality-and-virtual-reality.html

Presently, there are a few popular augmented reality (AR) based products, like the famous Google glass and the Oculus Rift VR. These have incredible potential of application in the healthcare industry, and in recent times, Hologic launched a virtual reality simulator for the Myosure procedure, to remove intrauterine tissues without incision, in association with VirtaMed. Another product was launched by WorldViz also, which contains a full scale immersive 3D virtual patient room simulation.

The scope for minimally invasive surgery is immense. Currently, the healthcare industry is trying to implement this type of surgery on a larger scale, especially in the cardiovascular surgical application. This is where many AR based products are being launched. The presence of the AR based products in this market segment, wherein doctors can actually arrange for minimal intrusion while performing a surgery is a very positive point. Moreover, the consistent number of new launches and announcement of new products in this area that have been made by a number of well-established companies as well as startups look incredibly promising.

The healthcare industry is currently trying to provide training to medical students and nurses, and to conduct refresher courses for doctors so that they can include AR related apps while performing medical treatment. It has the potential to reduce the chances of making an error while performing a surgery.

Therefore, it can be successfully noted that this area has a consistent growth potential. In 2013, the global market for augmented reality in the healthcare region stood at around $280 million. IndustryARC conducted a research and found out that based on a number of factors, like the reduction of component costs and improvement of gesture recognition systems, there has been a new trend wherein many startups and traditional companies have started to combine VR-AR into their product portfolios to increase their global outreach. So, the potential of growth for augmented and virtual reality based apps are immense. At present, the market is largely undervalued, due to the lack of awareness from key players in the global market. But soon enough, the market’s growth will increase, and as per the research, grow to more than twice its current size by 2018, thanks to a huge end user demand in the market.

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http://industryarc.com/request-a-call.aspx?type=report&cid=78

About Us: IndustryARC is a research and consulting firm that publishes more than 20 reports every month in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare. Contact us to find out how we can help you today!

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