Pune, India -- (SBWIRE) -- 12/14/2018 -- According to the latest industry analysis of global augmented reality (AR) and virtual reality (VR) market in healthcare size is expected to reach around $3,038 million by 2023, growing at an impressive CAGR of around 31% 2017-2023. The market research report provides an in-depth market and segmental analysis of the global AR and VR market in healthcare by applications, technology, component, and geography.

This market research report on the healthcare augmented reality (AR) and virtual reality (VR) market offers analysis on the market size and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights about segmentation by applications (AR (surgeries, rehabilitation, and training and medical education) and VR (simulation, diagnostics, rehabilitation, pain distractions, and VRET)), technology (AR and VR), component (hardware and software), and geography (North America, APAC, Europe, and ROW).

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Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare - Overview

The increasing number of diabetic, HIV, and dementia patients and the high prevalence of chronic diseases around the globe are driving the expenditure in the healthcare industry. The implementation of internet analytics and IT lead innovations is fueling the development of the augmented reality and virtual reality market in the healthcare industry.

Technological innovations help improve cost-effectiveness, offer better communication between the patient and the doctor, provide easy exchange of reports, improve tracking of the patient's health, and offer better workforce training. The increasing investments in developing digital healthcare technologies are creating new opportunities for vendors in the global AR and VR market in healthcare.

The launch of innovative technology such as next-generation sequencing (NGS), 3D-printing, immunotherapy, artificial intelligence (AI), point-of-care diagnostics (POC), virtual reality (VR), augmented reality (AR), biosensors and trackers, convenient care, and telehealth will help enhance the consumer experience and offer better patient care.

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The introduction of innovative technology and advanced medical devices helps reduce healthcare spending and saves time. The introduction of virtual healthcare applications efficiently handles patient care and offers superior services through the telemedicine platform. The implementation of such advanced and innovative technology will drive the growth of the AR and VR market in healthcare. The increasing use of augmented reality and virtual reality in the healthcare sector helps reduce medical training costs significantly and revolutionizes surgical procedures in the global industry. Diagnosis and medical history of the patient are now stored on smart wearables and can be accessed from remote locations. Such advancement will augment the development of the global AR and VR market in healthcare during the forecast period.

The key countries profiled in the report are:
- US
- UK
- China

Key Vendor Analysis

The AR and VR market in healthcare is highly fragmented with the presence of several vendors offering devices at a competitive price. The infiltration of low-quality products is increasing the competition in the global AR and VR market in healthcare. The leading players are focusing on leveraging technology and brand identity to gain market share in the augmented reality and virtual reality market in healthcare. The increasing investments in R&D for the development of innovative products will create new business opportunities for prominent companies in the market. The increasing focus on emerging companies in the APAC region will help players expand their business and distribution channels to new regions.

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Key Companies in Augmented Reality (AR) Market:
- Orca Health
- Business Overview
- Healthcare Solutions
- Brain Power LLC
- Medsight Tech
- Accuvein
- EchoPixel Inc
- Augmedix
- Atheer Inc
- Aira
- Proximie
- Kinosis Ltd

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Key Companies in Virtual Reality (VR) Market:
- MindMaze
- Psious
- Virtually Better
- First Hand Technology
- Immersive Touch
- Medical Realities
- Osso VR Inc
- VirtaMed
- zSpace Inc
- Surgical Theater

Key Companies for Devices:
- Microsoft
- Alphabet Inc
- Magic Leap
- Osterhout Design Group Inc
- Facebook
- HTC
- Vuzix

Key market insights include:

1. The analysis of the AR and VR market in healthcare provides market size and the growth rate for the forecast period 2018-2023.

2. It offers comprehensive insights about current industry trends, trend forecast, and growth drivers about the AR and VR market in healthcare.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook of AR and VR market in healthcare.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

Browse all latest healthcare market research reports at https://www.reportsnreports.com/market-research/healthcare/.

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