(EMAILWIRE.COM, November 07, 2018 ) The augmented and virtual reality in healthcare market was valued at USD 769.2 Million in 2017 and is expected to reach USD 4,997.9 Million by 2023, at a CAGR of 36.6% during the forecast period. The increasing penetration of connected devices in the healthcare sector, increased investment in the AR and VR healthcare, and the growing need to reduce the healthcare cost are the major drivers for the augmented reality in healthcare and virtual reality in healthcare market.

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This report covers the augmented and virtual reality in healthcare market on the basis of offering, device type, end user, application, and geography.

The patient care management application would lead the market for augmented reality in healthcare and virtual reality in healthcare. The use of AR and VR in therapies and rehabilitation would boost the augmented reality in healthcare and virtual reality in healthcare market. The rehabilitation includes brain injury, stroke, and physical therapy among other applications.

The head-mounted displays will hold a major share of the augmented reality in healthcare and virtual reality in healthcare market. Head-mounted displays are the most promising devices to boost the growth of the market for augmented reality in healthcare and virtual reality in healthcare. The use of HMDs in applications such as pharmacy management, patient care management, and medical training and education would be the major driver for the growth of HMDs in augmented reality in healthcare and virtual reality in healthcare.

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The end-user segment would comprise hospitals, clinics, and surgical centers during the forecast period. Key challenges faced by hospitals and clinics are data management and clinical operations management due to the increasing number of patients with chronic diseases and the growing need for improved patient outcomes. Technological innovations help healthcare centers improve the service quality by providing care at low cost with less time to service.

North America expected to hold a major share of the augmented and virtual reality in healthcare market during the forecast period

North America, being technologically advanced and developed, is a leading market for the cutting-edge technologies that are used in display devices. North America led in 2016 in terms of market size and revenue generated from the applications in augmented reality in healthcare and virtual reality in healthcare. The US has many global companies that are involved in the AR and VR space for the healthcare applications. This helps North America stand out as a major region in the overall market for augmented reality in healthcare and virtual reality in healthcare.

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Major players in the market for augmented reality in healthcare and virtual reality in healthcare are Google (US), Microsoft (US), DAQRI (US), Psious (Spain), Mindmaze (Switzerland), Firsthand Technology (US), Medical Realities (UK), Atheer (US), Augmedix (US), and Oculus VR (US).

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