DUBLIN--(BUSINESS WIRE)--The "Augmented Reality (AR) in Healthcare Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.

AR in healthcare market is witnessing a big boost with a high expected CAGR of 31.63% and market value expected to rise from US$779.994 million in 2019 to US$4,057.144 million in 2025.

Augmented Reality (AR) and Virtual Reality (VR) technologies are gaining significant traction among healthcare experts owing to their numerous applications that range from assessment of surgical preparation to minimally invasive surgery and rehabilitation.

Other applications of augmented reality in healthcare include medical training and pharmacy benefits management. As the population increases, the growing demand for surgical treatment as well as healthcare expenditure among people is boosting the application of augmented reality and virtual reality technologies in the healthcare sector by a significant degree. Technological advancement in augmented reality and artificial intelligence technologies along with the increasing workload of healthcare professionals and stringent regulatory compliances in laboratory testing is expected to bolster the market forecasts in the upcoming years.

Growing expenditure on healthcare by maturing population, especially on surgical treatments

The increasing geriatric population in many parts of the world is expected to be one of the prime drivers for the growth of the market over the forecast period. For instance, the WHO has projected a 50% rise in annual cardiovascular disease events between 2010 and 2030 based solely on the growing geriatric population in a developing country like China. According to the World Bank estimates, the geriatric population (65 years of age or older) in the United Kingdom has grown from an 11.706 million in 2015 to a population size of 12.231 million in 2018. The market for augmented reality is anticipated to grow majorly driven by significant growth in the healthcare expenditure coupled with the rising number of surgeries in various parts of the market.

By product offering software segment is anticipated to grow significantly during the forecast period.

Augmented reality software assists physicians in imaging, diagnoses, management of medical records, in-patient care, lifestyle management, and precision medicine. Not only it assists in making a better treatment plan but it also provides physicians all the information needed to make a better decision for the patients by diagnosing the life-threatening diseases such as cancer at the early stages. Using software surgeons can visualize bones, muscles, and internal organs without even having to cut open a body.

Virtual assistance due to the increasing usage of smartphones and devices along with the increasing number of players such as Siemens Healthineers, Philips Healthcare, and Microsoft are responsible for an increase in the software offered by the healthcare augmented reality market. In addition, today healthcare mobile apps are also using AR to give their users better experience and to improve efficiency and results. Doctors, patients, nurses, and trainees are benefitted from AR-based healthcare apps which is completely changing the everyday medicine and healthcare services for both patients and doctors.

Geographically North America is expected to hold a significant share in the market

Geographically, North America is holding significant share owing to the early adoption of technology and the presence of major market players in the region. In addition, growing technological advancement in information technology coupled with the extensive R&D activities in the United States is also expected to propel the growth opportunities in the region in the coming years. Besides, Asia Pacific is predicted to register exponential growth over the forecast period. Factors such as growing healthcare expenditure and favorable government initiatives to attract foreign investment in the healthcare sector are further boosting the growth of the market in the region.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.4. Industry Value Chain Analysis

5. Augmented Reality (AR) in Healthcare Market Analysis, By Product

5.1. Introduction

5.2. Hardware

5.2.1. Sensors

5.2.2. Displays and projectors

5.2.3. Position trackers

5.2.4. Others

5.3. Software

6. Augmented Reality (AR) in Healthcare Market Analysis, By Device Type

6.1. Introduction

6.2. Head-mounted displays

6.3. Handheld devices

6.4. Others

7. Augmented Reality (AR) in Healthcare Market Analysis, By End-User

7.1. Introduction

7.2. Hospitals and Clinics

7.3. Research Laboratories

7.4. Others

8. Augmented Reality (AR) in Healthcare Market Analysis, By Geography

8.1. Introduction

8.2. North America

8.3. South America

8.4. Europe

8.5. Middle East and Africa

8.6. Asia Pacific

9. Competitive Environment and Analysis

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/v1ea2e

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