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How Large Will the Augmented Reality In Health Care Market Size By 2025?
In recent times, the market size for augmented reality in healthcare has seen substantial growth. The sector, valued at $3.05 billion in 2024, is anticipated to escalate to $3.95 billion in 2025, registering a compound annual growth rate (CAGR) of 29.4%. This remarkable expansion during the historical period is primarily due to the improvements in surgical procedures, medical training and education, patient care and treatment planning, along with the progression in remote assistance, telemedicine, and diagnostic imaging enhancements.
How Big Is the Augmented Reality In Health Care Market Size Expected to Grow by 2029?
The market size for augmented reality in the health care sector is projected to experience substantial growth in the coming years, reaching $12.89 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 34.4%. This growth for the predicted period is largely due to its increasing utilization in rehabilitation programs, wider application in mental health treatments and enhanced patient interaction and compliance. Key trends of the future forecast include area-based diagnostic imaging, breakthroughs in pharmaceutical research and development, the use of AR wearable technology for health surveillance, improved mental health support systems and incorporation with Electronic Health Records (EHR).
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Which Key Market Drivers Powering Augmented Reality In Health Care Market Expansion and Growth?
The rise in the elderly population is anticipated to spur the expansion of augmented reality in the healthcare sector in the future. There is a swift growth in the global elderly population, a trend likely to continue through the forecasted period. Older individuals are susceptible to a variety of illnesses and conditions that necessitate surgical intervention. Employing AR in surgical procedures enables the medical professionals to juxtapose a patient’s anatomical structure with their MRI and CT scan data. For example, the Physical Review B (PRB) Journal states that by 2060, the population of Americans aged 65 and above is predicted to quadruple exponentially to 95 million, composing 23% of the total population. Hence, the surge in the elderly population propels the growth of the augmented reality in healthcare market.
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Which Fast-Growing Trends Are Poised to Disrupt the Augmented Reality In Health Care Market?
The AR healthcare market is being shaped by the introduction of new products. Leading companies in the AR healthcare industry are concentrating on innovating products that enhance the precision of treatments. For example, Enovis, a medical technology firm based in the Netherlands, launched ARVIS, an augmented reality visualization and information system, in July 2022. This system, which has already been used successfully in over 200 cases in the US, stands out as the only proprietary, hands-free augmented reality (AR) technology developed specifically for orthopedic surgeons. It provides accurate, real-time guidance during hip and knee surgeries, enabling surgeons to conduct procedures with augmented assistance. ARVIS aims to supply surgeons with better information, increased confidence, and a holistic surgical experience by smoothly integrating into their workflow without the need for needless or cumbersome equipment.
What Are the Emerging Segments in the Augmented Reality In Health Care Market?
The augmented reality in health care market covered in this report is segmented –
1) By Product: Hardware, Software
2) By Technology: Wearable, Vision-Based, Spatial, Mobile Device-Based
3) By Device Type: Head-Mounted Displays, Handheld Devices, Other Device Types
4) By End-User: Hospitals And Clinics, Research Laboratories, Other End Users
Subsegments:
1) By Hardware: AR Headsets, Smart Glasses, Wearable AR Devices, Mobile Devices, Sensors and Cameras
2) By Software: AR Applications, Simulation Software, Remote Assistance Software, Patient Engagement Software, Data Management Software
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Who Are the Global Leaders in the Augmented Reality In Health Care Market?
Major companies operating in the augmented reality in health care market include Google LLC, Microsoft Corporation Inc., Sony Corporation, Siemens Healthineers, Koninklijke Philips N.V., 3D Systems Corporation, Magic Leap Inc., Augmedics Ltd., Augmedix Inc., AccuVein Inc., VirtaMed AG, BioDigital Inc., Vuzix Corporation, Karuna Labs Inc., AppliedVR Technology, Osterhout Design Group Inc., Atheer Inc., EchoPixel Inc., Medsight Solutions LLC, FundamentalVR Ltd., Augmented Intelligence Inc., seeCOLe LLC, Nanome Inc., Brain Power Inc., OxfordVR Ltd., Health Scholars Inc., MediView XR Inc., ARToolworks Inc., CAE Healthcare Inc.
Which are the Top Profitable Regional Markets for the Augmented Reality In Health Care Industry?
North America was the largest region in the augmented reality in health care market in 2024. The regions covered in the augmented reality in health care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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