Healthcare AR VR Market Projected to Hit US$ 14.85 Billion with 18.2% CAGR by 2034: Fact.MR Report

Rockville, March 22, 2024 (GLOBE NEWSWIRE) — According to Fact.MR, a provider of market research and competitive intelligence, the global Healthcare AR VR Market is set to reach a valuation of US$ 2.8 billion in 2024 and further accelerate at a CAGR of 18.2% between 2024 and 2034.

In recent years, the healthcare sector has witnessed a surge in the adoption of augmented reality (AR) and virtual reality (VR) technologies, revolutionizing the way patients are treated and cared for. These immersive technologies are proving to be invaluable tools in various aspects of healthcare, offering innovative solutions that enhance patient experiences and improve treatment outcomes.

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One of the most significant impacts of AR and VR in healthcare is their ability to alleviate patient anxiety and pain. By providing immersive and interactive environments, VR therapy sessions transport patients to virtual worlds, effectively distracting them from discomfort during medical procedures or treatments. This not only enhances patient comfort but also reduces the need for sedatives or painkillers, promoting a more natural and holistic approach to pain management.

Key Segments of Healthcare AR VR Market Research Report  

By Technology By Component By Application By End User By Region
  • Augmented Reality
  • Virtual Reality
  • Hardware
  • Software
  • Services
  • Patient Care Management
  • Medical Training
  • Surgery Planning
  • Rehabilitation
  • Hospitals & Clinics
  • Medical Research Organizations
  • Diagnostic Centers
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Moreover, AR and VR are reshaping medical education and training, offering realistic simulations for healthcare professionals to practice complex procedures and surgeries in a risk-free environment. Surgeons can hone their skills and refine techniques before entering the operating room, leading to increased surgical precision and better patient outcomes.

These technologies are also being utilized in rehabilitation programs, enabling patients to engage in immersive exercises that aid in physical and cognitive recovery. From stroke rehabilitation to managing chronic pain, AR and VR applications offer personalized therapy sessions tailored to individual patient needs, fostering faster recovery and improved quality of life.

As the demand for AR and VR in healthcare continues to grow, so does the need for further research and development to unlock their full potential. With ongoing advancements and innovations, these transformative technologies are poised to play an even greater role in shaping the future of patient care, promising a more accessible, efficient, and compassionate healthcare experience for all.

Key Takeaways from Market Study

  • The global healthcare AR VR market is projected to expand at a CAGR of 18.2% through 2034.
  • Global revenue from healthcare AR VR is estimated at US$ 2.80 billion in 2024.
  • The market is forecasted to reach US$ 14.85 billion by 2034-end.
  • The North American market is projected to expand at a CAGR of 18.4% through 2034.
  • Augmented reality is approximated to account for 46.5% market share in 2024.
  • East Asia is evaluated to account for 36.7% of the global market share by 2034.

“Medical professionals implementing virtual reality for treating military veterans increasing demand for surgical simulators,” says a Fact.MR analyst.

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Report Attribute Details
Value Projection (2034) US$ 14.85 Billion
Growth Rate (2024-2034) 18.2% CAGR
No. of pages 170 Pages
No. of Tables 80 Tables
No. of Figures 219 Figures


Market Competition

In the fiercely competitive market for healthcare AR and VR, leading industry players are shifting their focus toward delivering cutting-edge medical technologies to support healthcare professionals and patients alike. These companies are actively engaging in partnerships with hospitals and caregivers to deploy virtual care and inspection solutions, catering to the evolving needs of the healthcare sector.

Market players are also leveraging their expertise to introduce advanced virtual headsets and goggles specifically designed for medical training and educational purposes. Through collaborations with healthcare institutions, they aim to provide immersive learning experiences that enhance the skills and knowledge of medical professionals.

In response to the growing demand for innovative healthcare solutions, companies are also investing in the development of new content for virtual medical applications. These applications span a wide range of healthcare domains, including rehabilitation, vision inspection, psychological assessment, and mental health administration. By offering a diverse array of virtual medical experiences, these players are catering to the multifaceted needs of healthcare providers and patients.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global healthcare AR VR market for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on technology ((AR) augmented reality, (VR) virtual reality), component (hardware, software, services), application (patient care management, medical training, surgery planning, rehabilitation), and end user (hospitals & clinics, medical research organizations, diagnostic centers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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