Global Augmented Reality In Health Care Market Projected To Reach $9.49 billion in 2028 With 32.2% Annual Growth

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With emphasis on enhanced surgical procedures, medical training and education, patient care, treatment planning the augmented reality in health care market size has grown exponentially in recent years. Estimated to rise from $2.38 billion in 2023 to $3.11 billion in 2024, the market indicates a compound annual growth rate CAGR of 30.6%. The growth, during this period, reflects attributes such as remote assistance, telemedicine, and diagnostic imaging enhancements to the historic period.

What Will Be The Anticipated Market Size Of Global Augmented Reality In Health Care Over The Coming Years?

The augmented reality in health care market size is expected to see a surge in the coming years. Expanding at a compound annual growth rate CAGR of 32.2%, the market is projected to hit the $9.49 billion mark by 2028. This growth surge can be pinned on factors such as widespread adoption in rehabilitation, expansive use in mental health treatment, and trends in patient engagement and adherence. Projections for impressive growth in the forecast period are guided by trends such as augmented reality AR wearables for health monitoring, area-based diagnostic imaging, pharmaceutical research and development, enhanced mental health support, and the integration with Electronic Health Records EHR.

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What Is Driving The Global Augmented Reality In Health Care Market?

A significant driver projected to propel the augmented reality in health care market growth is the rapidly increasing geriatric population, expected to continue over the forecast period. The geriatric population, prone to several diseases and ailments that require surgical procedures, benefits from the usage of AR in surgeries that provides surgeons a visualization of the patient’s anatomy alongside their MRI and CT scan data. By 2060, the number of Americans aged 65 and above forecasts to nearly quadruple to 95 million, accounting for 23% of the total population, as per the Physical Review B PRB Journal.

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Which Are The Major Players In The Augmented Reality In Health Care Market?
Major players operating in the augmented reality in health care market include Google LLC, Microsoft Corporation Inc., Sony Corporation, Siemens Healthineers, Koninklijke Philips N.V., 3D Systems Corporation, Magic Leap Inc., Augmedics Ltd., Augmedix Inc., AccuVein Inc., VirtaMed AG, BioDigital Inc., Vuzix Corporation, Karuna Labs Inc., AppliedVR Technology, Osterhout Design Group Inc., Atheer Inc., EchoPixel Inc., Medsight Solutions LLC, FundamentalVR Ltd., Augmented Intelligence Inc., seeCOLe LLC, DAQRI Inc., Nanome Inc., Brain Power Inc., OxfordVR Ltd., Health Scholars Inc., MediView XR Inc., ARToolworks Inc., and CAE Healthcare Inc.

What Latent Trends Are Reshaping The AR in Health Care Market?

Companies operating in the AR in the health care sector are focusing on product innovation for improvement in treatment accuracy. This drive for innovation is attributing to shaping the AR in health care market. For example, Netherlands-based medical technology company, Enovis, launched ARVIS, an augmented reality visualization and information system, completed over 200 successful cases in the US in July 2022. This FDA-cleared system stands out as a distinguished hands-free AR technology, providing real-time, precise guidance during hip and knee surgeries.

How Is The Global Augmented Reality In Health Care Market Segmented?

The augmented reality in health care market is segmented by -

1 Product: into Hardware and Software
2 Technology: into Wearable, Vision-Based, Spatial, and Mobile Device-Based
3 Device Type: into Head-Mounted Displays, Handheld Devices, and Other Device Types
4 End-User: into Hospitals And Clinics, Research Laboratories, and Other End Users

Examining the Regional Insights of The AR In Health Care Market

North America led as the most expansive region in the augmented reality in health care market in 2023. Other regions covered in the augmented reality in health care market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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