Owing to recent advancements in Augmented and Virtual Reality technologies, today’s organizations have no longer untouchable with this technology, even the healthcare sector too. As AR delivers digital components atop an existing reality in order to make it more meaningful and interactive, VR on the other end allows immersive simulation of real-life setting or environment. In the healthcare space, both have wide-reaching applications, from treatment and therapy to training and education. In recent years, technologies have taken more hype in the sector. According to the report, AR and VR in the healthcare market will worth USD 6141.78 million by 2025. The market was valued at USD 748.3 million in the year 2017 and is expected to grow with a CAGR of 30.1 percent throughout the projected timeframe.
The market for AR and VR is largely driven by the massive amount of investments in emerging technologies and increasing adoption in of Augmented Reality and Virtual Reality in the medical field. Additionally, applications in surgical simulation, diagnostic imaging, rehabilitation, and health management, and patient care management are also driving the market at large. Opening huge numbers of startups have led to higher demand for investments in developing AR and VR technologies; as a result, the market is witnessing an increase in private investments by different investors which is expected to fuel the growth of AR and VR in Healthcare market. However, the market has a major restraining factor that can impede its growth and that is the lack of expertise among medical practitioners to adopt new technologies.
Besides, augmentation in private investment by several investors generates a variety of opportunities in the AR and VR Healthcare market. Furthermore, the utilization of AR and VR can save time and cut down extra time taking, as well as it can considerably advance the quality of treatment in the healthcare space. Hence, both AR and VR play an important role in the healthcare market, as it has to witness that it’s the best solution for surgery and for the healthcare market.