Market Trends of Global Augmented Reality (AR) in Healthcare Industry
This section covers the major market trends shaping the Augmented Reality (AR) in Healthcare Market according to our research experts:
Head-Mounted Devices Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
The head-mounted devices segment is expected to hold a significant share in augmented reality in the healthcare market. The factors driving the growth of this segment include the rise in the application of head-mounted devices and the rise in technological advancements in head-mounted devices, among others.
According to the study published in the Journal of Medical Internet Research, titled 'Augmented, Mixed, and Virtual Reality-Based Head-Mounted Devices for Medical Education: Systematic Review' in July 2021, AR, in the form of head-mounted displays (HMDs), may offer up new avenues for teaching medical information in low-resource settings. HMDs have benefits such as they allow repeated practice in various medical disciplines without causing harm to the patient, they may introduce new ways to learn complex medical content, and they may alleviate financial, ethical, and supervisory constraints on the use of traditional medical learning materials such as cadavers and other skills lab equipment. Such huge applications of HDMs over the traditional methods will lead to a rise in the adoption of this segment over the forecast period.
Furthermore, in January 2022, Project Iris, Google's secret augmented reality head-mounted display (HMD) project, is expected to launch in 2024. Such projects will lead to the entry of novel HMD products by key players driving the market growth due to the rise in adoption.
Therefore, owing to the above-mentioned factors, this segment is expected to show significant growth in the market studied.
North America Holds a Major Share and Expected to do Same in the Forecast Period
North America holds a significant share in the augmented reality healthcare market, and it is expected to follow the same trend over the forecast period.
The factors responsible for the growth of this market in North America include the developed healthcare system, the rise in adoption of augmented reality in healthcare due to its applications, the rise in the launch of AR products in this region, and the strong foothold of key market players, among others.
According to the Wharton Healthcare Management Alumni Association in May 2020, medical staff training and other types of therapy have both benefited from augmented reality technologies. AR technologies, in particular, have shown a substantial influence on the efficiency and quality of in-home healthcare given by both skilled and non-skilled staff. Therefore, the rise in applications of augmented reality in healthcare is expected to drive market growth in this region.
In addition, in March 2022, Arvizio, a supplier of corporate augmented and mixed reality (AR/MR), launched a suite of capabilities for its augmented reality workflow automation for medical organizations, healthcare professionals, and technicians to utilize in equipment training, operation, and maintenance. Such initiatives in the North American region will drive the market growth further due to the rise in adoption.
Therefore, owing to the above-mentioned factors, the market is expected to drive in North America.
