Global Augmented Reality In Healthcare Market Size was over USD 106.4 million in 2017 and is anticipated to reach a market size of USD 1,270.0 million in 2025, growing at a CAGR of 21.7% from 2018 to 2025.

Global Augmented Reality in Healthcare Market, 2017 - 2025 

Technological advancements, coupled with the rapidly growing demand to reduce the healthcare complexities are expected to drive the adoption of augmented reality for healthcare applications in the coming years. Augmented reality in the healthcare market is expected to be driven by the growing workload of healthcare professionals, along with stringent regulatory policies regarding clinical trials and various laboratory testing stages. Rapid growth in healthcare expenditure is another factor which would drive the growth of global augmented reality in the healthcare market over the projected period. The market growth is predicted to be concentrated majorly in developed regions such as North America and Europe, which consists of robust healthcare infrastructure.

High costs of technology, coupled with increasing threats regarding data security are the major concerns associated with augmented reality in the healthcare market, and they would restrict the growing demand to a certain extent during the forecast period.

Component Overview

Displays for augmented reality in the healthcare market is projected to have the dominant market share over the projected period, majorly owing to the increasing demand for output devices such as head-mounted displays. This segment is predicted to hold a market size of over USD 47.9 million in 2017 and is projected to grow at a CAGR of more than 23.5% throughout the forecast period.

End-User Overview

Augmented reality in the healthcare market for healthcare facilities is projected to have the dominant share throughout the projected period. This is majorly attributed by the increasing adoption of this technology, as it reduces the stress on healthcare professionals regarding the complexity of the entire processes. This segment held a market size of more than USD 54.3 million in 2017 and is projected to grow at a CAGR of more than 22.3% throughout the projected period.

Regional Overview

North America will lead the global market with a size of over USD 50.0 million in 2017, as this technology is in huge demand, owing to the increasing adoption of various consumer electronic devices. This is propelling the market growth to a large extent, in which the healthcare devices are majorly in demand.

Europe augmented reality in the healthcare market will witness growth at a CAGR of over 22.4% in the projected period, owing to the increasing investments in the healthcare sector. Also, Asia Pacific augmented reality in the healthcare market will witness a rapid growth in countries such as China, India, and Japan, primarily owing to rapid developments in the healthcare end-use industry.

Competitive Overview

Some of the potential players in the global augmented reality in healthcare market include Microsoft Corporation, Google LLC., Mindmaze, DAQRI, Medical Realities, Wikitude GmbH, Augmedix, Atheer, CAE Healthcare, Oculus VR, 3D Systems, Philips Healthcare, Siemens Healthineers, Blippar, VirtaMed, Osterhout Design Group, Magic Leap, Inc., and Virtually Better among others.

In October 2016, Atheer participated in a partnership agreement to illustrate AiR Suite’s ability. This can be enabled with a 3rd party module. This enhances the efficiency and also the safety of diskless professionals and Wikitude’s capabilities, which includes image recognition and tracking among several others.