Virtual and Augmented Reality in Healthcare Market to Reach $14.9 Billion, Globally, by 2033 at 19.6% CAGR

The virtual and augmented reality in healthcare market was valued at $2.5 billion in 2023 & is estimated to reach $14.9 billion by 2033, at a CAGR of 19.6%.

PORTLAND, OR, UNITED STATES, December 16, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Virtual and Augmented Reality in Healthcare Market by Component (Hardware, Software and Services), by Technology (Augmented Reality and Virtual Reality), and End User (Hospitals, Research Institutions, Diagnostic Centers and Clinics): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the virtual and augmented reality in healthcare market was valued at $2.5 billion in 2023, and is estimated to reach $14.9 billion by 2033, growing at a CAGR of 19.6% from 2024 to 2033.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭 -
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Prime Determinants of Growth

Major factors driving the growth of the virtual and augmented reality in healthcare market are technological advancements in the virtual & augmented reality and rise in adoption of virtual and augmented reality in diagnostic and surgical applications. Innovations in hardware and software have significantly enhanced the capabilities and applications of VR and AR, transforming various aspects of medical practice. High-resolution displays, powerful graphics processors, and sophisticated motion-tracking systems have made VR and AR experiences more immersive and realistic, improving the effectiveness of simulations and visualizations. These advancements facilitate precise surgical planning and training, allowing medical professionals to practice complex procedures in a risk-free environment. Software advancements, including the development of specialized medical applications and platforms, enable seamless integration of virtual and augmented reality technology into existing healthcare systems.

In addition, the rise in adoption of virtual and augmented reality in diagnostic and surgical applications is expected to drive the growth of the market. In diagnostics, VR and AR facilitate immersive visualization of complex anatomical structures, enabling healthcare professionals to diagnose conditions with greater accuracy. They offer three-dimensional, interactive models that improve the understanding of patient-specific anatomy, leading to more accurate and timely diagnoses. In surgical applications, VR and AR have revolutionized the way surgeries are planned and executed. Surgeons can utilize AR for real-time overlays of medical images onto the patient's body, providing critical information without having to look away from the surgical field. This enhanced visualization supports more precise incisions and better decision-making during operations. VR is also used for surgical simulations, allowing surgeons to practice and refine their techniques in a risk-free environment before performing actual surgeries. These simulations contribute to improved surgical outcomes and reduced complications.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟐𝟎 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @
https://www.alliedmarketresearch.com/augmented-reality-ar-and-virtual-reality-vr-in-healthcare-market/purchase-options

Segment Highlights

The hardware segment dominated market share in 2023

By component, the hardware segment dominated the market share in 2023. This is attributed to the development and integration of advanced hardware, such as VR headsets, AR glasses, and other immersive devices, which have significantly enhanced the effectiveness of medical simulations, surgical training, and therapeutic treatments.

Augmented reality segment dominated market share in 2023

By technology, the augmented reality segment dominated the market share in 2023. This is attributed to the fact that augmented reality technology enhances surgical precision and efficiency by overlaying digital information onto a surgeon's field of view during procedures. This capability not only reduces human error but also improves patient outcomes, driving healthcare providers to adopt augmented reality solutions.

Hospitals segment dominated market share in 2023

By end user, the hospitals segment dominated the market share in 2023. This is attributed to hospitals increasingly adopting AR/VR technologies to enhance medical training and education. These technologies offer immersive simulations that allow healthcare professionals to practice complex procedures in a safe and controlled environment, thereby improving their skills and confidence without risk to actual patients. This capability not only reduces training costs associated with traditional methods but also ensures a higher level of competency among medical staff, leading to improved patient outcomes.

Regional Outlook

North America held a dominant position in the market in 2023, attributed to high adoption of the virtual and augmented reality (VR/AR) technologies in surgical, diagnostic, and training of medical professionals. In addition, the strong presence of major key players and high research & development activities in the region for development of virtual and augmented reality (VR/AR) technologies are expected to contribute significantly to the adoption of virtual and augmented reality (VR/AR) technologies in healthcare.

However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period. This is attributed to technological advancements and a rising demand for innovative healthcare solutions in countries like China, Japan, and South Korea. These nations are investing heavily in digital health initiatives, with VR/AR playing a pivotal role in improving access to healthcare services in remote areas and enhancing medical training capabilities.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐈𝐧 𝐃𝐞𝐭𝐚𝐢𝐥 -
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Frequently Asked Questions?

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