Demand On Augmented Reality in Healthcare Market Forecast till 2023
The global report by Market Research Future (MRFR) market analysts on the augmented reality in the healthcare market revealed a possibility of scaling USD 1.32 billion with a 23% CAGR during the forecast period of 2018 to 2023. The growth of this market would depend on various factors, including the hike in investment for research and development area, initiatives taken by governments and private bodies, rise in the demand for telemedicine, better app support, growing digitalization, and others. However, the market is yet to reach a substantial potential as several aspects of it are still to be explored.
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The global report containing details of the augmented reality in the healthcare market has been segmented by MRFR experts into device type, component, and application to inspire a better understanding of the market.
By component, the report of the augmented reality in the healthcare market has been segmented into software, hardware, and others. The hardware segment encompasses cameras, displays and projectors, position trackers, sensors, and others.
By device type, the global report on the augmented reality in the healthcare market has been segmented into a handheld device, head-mounted display, and others.
By application, the recent market study includes segments like medical training and education, fitness management, and others. The fitness management segment has substantial opportunities to inspire better revenue-generation.
The Americas would enjoy the upper hand in the market as several of the app developers are from this region. In North America, the market would discover various growth pockets, especially in the US and Canada. Their financial influx and infrastructural superiority would help the market in growing faster.
DAQRI (U.S.), Mindmaze (Switzerland), Google LLC. (U.S.), Microsoft Corporation (U.S.), Medical Realities (U.K), Atheer (U.S.), Osterhout Design Group (U.S.), Wikitude GmbH (Austria), CAE Healthcare (U.S.), Philips Healthcare (Netherlands & U.S.), Siemens Healthineers (Germany), Magic Leap, Inc. (U.S.), Augmedix (U.S.), Oculus VR (U.S.), VirtaMed (Switzerland), HTC (Taiwan), 3D Systems (U.S.), Blippar (U.K), and Virtually Better (U.S.), are companies involved in the augmented reality in the healthcare market. These companies invest their strength in building resources that would help in the triggering growth for the market. The process relies on strategic expertise and implementation of methods like mergers, acquisitions, innovations, product launch, partnerships, and others—these help in creating scopes for expansions. MRFR’s attempt to record the recent changes in the market is expected to create better opportunities for players to devise their strategies.
The recent crisis related to COVDI-19 has inspired substantial changes in the healthcare sector. The industry in now more eager to adopt methods that would reduce the number of hospitals or clinic visits to curb the scopes of contraction of the disease. This requires a proper study of how digital media can help in better diagnosis. This would involve physicians and nurses. But the process would also require a certain level of knowledge regarding how to make the best of it from a patient’s perspective. Hence, combined participation is getting encouraged by certain factions to avoid any discrepancies later.
In June 2020, MARUX announced that they had filed a provisional patent application with the US Patent and Trademark Office. The application is covering areas including artificial intelligence, machine learning, and extended/cross-reality that would serve the Company’s remote medical diagnostics and remote monitoring application. The process would involve medical care and services regarding the internet of health things (IoHT). This would also help in gathering data and then using its potential to initiate various researches.
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