Global Augmented and Virtual Reality in Healthcare Market 2019-2023 | Rapid Improvements in Sensor Technology Drive Growth | Technavio
Technavio’s global augmented and virtual reality in the healthcare market research report forecasts the market to grow at a CAGR of over 28% during the forecast period.
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Technavio's global augmented and virtual reality in the healthcare market research report forecasts the market to grow at a CAGR of over 28% during 2019-2023. (Graphic: Business Wire)
The rapid improvements in sensor technology will be one of the major trends in the global augmented and virtual reality in the healthcare marketduring 2019-2023. Owing to the ongoing transformation across several industries and verticals, there is an increasing demand for smart sensors, which are more reliable and involve lower maintenance and repair costs and have minimum replacement time. This will help in driving operational efficiencies across business processes. Such developments in sensor technology are expected to boost the adoption of augmented and virtual reality in the healthcare market during the forecast period.
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According to Technavio’s analysts, one of the key drivers for the global augmented and virtual reality in the healthcare market is the growing demand for healthcare services:
Global augmented and virtual reality in the healthcare market: Growing demand for healthcare services
During the forecast period, the increase in the adoption of and access to modern health care services will be boosted by the rise in the aging population around the world and the global increase in disposable income. There is also an increase in the incidence of chronic diseases and the need for improved levels of medical assistance. This has led to the advent of mobile applications and systems that deploy augmented and virtual reality in the healthcare industry.
According to a seniorresearch analyst at Technavio, “The shortage of skilled personnel in the healthcare industry is promoting the implementation of advanced and upgraded technologies in the sector. The growing demand for healthcare services will promote the adoption of augmented and virtual reality solutions in healthcare to reduce human effort, achieve operational efficiencies, and enhance the overall quality of services across the industry.”
Global augmented and virtual reality in the healthcare market: Segmentation analysis
The global augmented and virtual reality in the healthcare market analysis report provides market segmentation by offering (hardware and software) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two offering segments, the hardware segment held the largest augmented and virtual reality in the healthcare market share in 2018, contributing to over 66% of the market. This segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for more than 48% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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