Global Augmented Reality (AR) in Healthcare Market Expected to Rise at a CAGR of 25.5% and Generate $1,918.6 Million by 2026 - Exclusive COVID-19 Impact Analysis Report by Research Dive

The spread of COVID-19 across the globe has positively impacted the global augmented reality (AR) in healthcare market. The optimistic growth of the market is due to the increased funding & novel product launches during the pandemic.

New York, USA, April 06, 2021 (GLOBE NEWSWIRE) -- The augmented reality (AR) in healthcare industry is likely to see an accelerating growth during the COVID-19 pandemic. According to a report published by Research Dive, the global augmented reality (AR) in healthcare market is projected to surpass $1,918.6 million during the forecast period from 2019 to 2026. The report provides detailed analysis on drivers, restraints, enormous growth opportunities, challenges, major segments, and various strategies by market players in order to better apprehend the effect of Covid-19 pandemic on the global market.

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Highlights of the Report

• The estimated CAGR of the augmented reality (AR) in healthcare market prior to COVID-19 pandemic was 21.9% over the forecast period.

• The CAGR of the global industry after pandemic crisis is expected to grow at 25.5% by 2027.

• In 2020, the predicted market size of the augmented reality (AR) in healthcare industry before the COVID-19 pandemic was $477.1 million.

• Due to COVID-19 pandemic, the market size of the global industry is expected to surpass $504.6 million in 2020.

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Key Features of the Market

As per our analysts, augmented reality or AR is gaining importance in healthcare industry during the Covid-19 pandemic owing to increasing technological advancements ad developments in AR healthcare products. For instance, in January 2020, Augmedics, a global leader in AR technology has developed AR guidance system namely ‘xvisison spine system (XVS),’ which helps surgeons to visualize 3-Dimensional (3D) anatomy of spine during surgery. In addition, AR is used for creating chemical structures or drug development which is driving the growth of the global market. Moreover, various AR manufacturers of the industry are shifting their suppliers in order to sustain during the forecast period.

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Key Players of the Industry

The major players operating in the global market for augmented reality (AR) in healthcare include

• Google LLC.
• Mindmaze
• Magic Leap, Inc.
• Microsoft Corporation
• Medical Realities
• Atheer
• CAE Healthcare
• Oculus VR
• Augmedix
• 3D Systems
• Philips Healthcare
• Blippar
• Siemens Healthineers
• VirtaMed
• Wikitude GmbH
• Osterhout Design Group
• Virtually Better

Post-Pandemic Market Landscape

As per the report, the global augmented reality (AR) in healthcare market is expected to witness an impressive growth even after the COVID-19 pandemic. This is mainly because AR is beneficial in healthcare sector as it helps doctors to effectively perform surgeries. In addition, the growing focus of key players on product development and increased funding for AR in healthcare sector is predicted to boost the growth of the global AR in healthcare market post Covid-19 pandemic.

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For instance, in April 2020, XRHealth, the leader in extended reality & therapeutic applications, raised $7 million in funding in order to expand their telehealth platform to support patients and clinicians for virtual/augmented reality therapy. Besides, in April 2019, Vuzix, a leading supplier of smart-glasses & augmented reality (AR) technologies and products, entered into partnership with a telemedicine technology supplier, VSee to develop smart glasses, which will be offered for telemedicine.

The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. Click Here to Get Absolute Top Companies Development Strategies Summary Report


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