New York, USA, March 09, 2020 (GLOBE NEWSWIRE) -- As per a report published by Research Dive, the global augmented reality in healthcare market is set to rise at a CAGR of 21.9% and is projected to generate a revenue of $1,565.1 million during the forecast period from 2019 to 2026. The market has been segmented on the basis of component, technology, end use, and region. The report provides thorough insights on opportunities, restraints, vital segments, and prominent players of the global market. As per our analysts, the increasing focus to reduce the workload of healthcare professionals, coupled with strict regulations regarding laboratory tests and several clinical trials are significant factors boosting the growth of global augmented reality (AR) in healthcare market. Also, technological advancements in clinical field will create enormous growth opportunities for AR in healthcare market. However, ethical hacking coupled with expensive AR based technology will pose a severe threat to the growth of global market.
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Externalized and Connected to a Pump Type to Hold a Dominant Share
Based on component, the global AR in healthcare market is segmented into display sensors, input devices, and semiconductor components. The displays component accounted for $61.0 million in 2018, and is expected to grow at a CAGR of 6.8% during the forecast period. This segment is anticipated to garner a revenue of $334.5 million by the end of 2026. This is mainly due to the rising demand for integrated devices such as head mounted displays (HD).
Mobile-Device Based Technology to be Most Profitable
On the basis of technology, the global market for AR in healthcare is segmented into wearable, vision-based, spatial, and mobile-device based. The market share of mobile-device based technology accounted a revenue of $80.3 million in 2018, and is further anticipated to reach up to $409.7 million by the end of 2026. This is mainly due to the growing usage of smartphones and tablets for compass & global positioning system are used in mobile phones for navigation and routing.
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Healthcare Facilities Segment to Generate Major Market Share
On the basis of end use, the global market for AR in healthcare is segmented into research laboratories and healthcare facilities. The market size for healthcare facilities segment accounted for $61.0 million in 2018, and estimated to surpass $315.5 million by the end of 2026. The rising adoption technology to reduce stress of healthcare professionals is a major factor fueling the growth for this segment.
North America Region to Have Highest Demand for Consumer Devices
Based on region, the global AR in healthcare market is segmented into Asia Pacific, Europe, North America, and LAMEA. The North America market for AR in healthcare held a dominant position in 2018, and is predicted to continue its dominance throughout the forecast period owing to the rising demand for consumer devices. This region is expected to garner a revenue of $664.9 million by 2026. On the other hand, Asia Pacific market for AR in healthcare is anticipated to grow up to $349.0 million till 2026.
Top 10 Prominent Players of AR in Healthcare Market
The key players of the global AR in healthcare market include
- Mindmaze
- Medical Realities
- Wikitude GmbH
- CAE Healthcare
- 3D Systems
- Siemens Healthineers
- CAE Healthcare
- 3D Systems
- Siemens Healthineers
- VirtaMed
- Magic Leap
These players are adopting several strategies such as product development, mergers & acquisitions, and collaborations to hold a strong position in the global market. NuEyes tied-up with a U.S. major national insurance carrier to make affordable smart glasses used for AR.