Augmented and Virtual Reality in Healthcare Market Analysis

Augmented and Virtual Reality in Healthcare Market Analysis

Augmented and Virtual Reality in healthcare market value from AR technology crossed USD 2 billion in 2022. High adoption of AR in surgical procedures will surge the installation of AR-based devices and software across hospitals and medical centers. AR-based image visualization assists surgeons during complex procedures and enhances their accuracy and precision. Additionally, the strong potential of the technology in other applications such as diagnosis, treatment & therapy planning, education & training, patient monitoring, and patient care will further enhance demand for AR in healthcare.

Augmented and Virtual Reality in healthcare market from the hardware segment reached USD 1.5 billion in 2022. Virtual reality (VR) headsets are being used on a large scale for training and treatment applications. Devices such as 3D sensors, wearable displays, and smart glasses are becoming popular hardware components used in the healthcare sector. Head-mounted devices and smart glasses are gaining rapid momentum in training and simulation, diagnostics, and surgeries. Hardware components also have diverse application scope.
 

Augmented and Virtual Reality in healthcare market from behavioral therapy is anticipated to record a 21% CAGR through 2032. Augmented & virtual reality technologies can help healthcare providers treat patients suffering from behavioral conditions. They also allow patients to overcome their fears in a computer-generated virtual setting using headsets, which can also help eliminate fear, phobias, anxiety, and stigma experienced during traditional therapy. Furthermore, with the help of cognitive training and rehabilitation, the integration of AR/VR technologies in behavioral therapy will further increase.
 

Augmented and Virtual Reality in healthcare market from the clinics/dentists segment is expected to register more than 19% CAGR through 2032. Clinicians in dental clinics can use VR-based technology to show expected outcomes to their patients before they undergo a particular dental procedure. Additionally, the use of AR/VR in dentistry is in its nascent stages, which will generate lucrative business opportunities for AR/VR technology developers.
 

Europe Augmented and Virtual Reality in healthcare market is estimated to be valued at over USD 5.5 billion by 2032. Europe has a vast presence of key companies that specialize in the development of innovative technologies like AR/VR in various industry verticals, including healthcare. The region also has an advanced healthcare infrastructure in place, which enables medical professionals to adopt cutting-edge AR/VR solutions in their daily operations. In addition, AR-based technologies have proved their effectiveness in assisting surgeons with complex treatments, which may assert a favorable influence on regional market dynamics.