Mixed Reality in Healthcare Global Market Report 2024

Mixed reality in healthcare involves the amalgamation of augmented and virtual reality technologies, utilizing digital tools in the medical field to enhance diagnoses, facilitate access to healthcare, mitigate infection transmission, provide education, and improve overall outcomes.

The key components of mixed reality in healthcare include hardware, software, content, and applications. Hardware pertains to the physical components of a computer and related devices, with device types including augmented reality (AR) devices and virtual reality (VR) devices. Various applications of mixed reality in healthcare encompass surgery and surgery simulation, patient care management, fitness management, medical training and education, among others. End-users of mixed reality in healthcare include hospitals, surgical centers, medical institutes, and other entities in the healthcare sector.

The mixed reality in healthcare market research report is one of a series of new reports that provides mixed reality market statistics, including mixed reality in healthcare market size, regional shares, competitors with a mixed reality in healthcare market share, detailed mixed reality market segments, market trends and opportunities, and any further data you may need to thrive in the mixed reality in healthcare market industry. This mixed reality market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The mixed reality in healthcare market size has grown exponentially in recent years. It will grow from $0.47 billion in 2023 to $0.71 billion in 2024 at a compound annual growth rate (CAGR) of 51.7%. The growth observed in the historical period can be attributed to factors such as improved medical training, enhanced patient education, advancements in rehabilitation and physical therapy, effective chronic disease management, and a reduction in radiation exposure.

The mixed reality in healthcare market size is expected to see exponential growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 57.7%. The anticipated growth in the forecast period can be attributed to factors like global health initiatives, regulatory frameworks, the implementation of holographic telemedicine, workflow optimization, and the increasing prevalence of remote consultations. Noteworthy trends expected during this period encompass the integration of artificial intelligence (AI), virtual clinical trials, the adoption of wearable mixed reality devices, augmented preoperative planning, and real-time language translation.

The anticipated increase in the older population is set to drive the growth of the mixed reality in healthcare market. The term 'elderly population' refers to individuals aged 65 and above, who are more susceptible to various diseases and conditions requiring surgery. The application of mixed reality in surgery allows surgeons to visualize a patient's anatomy alongside their MRI and CT scan data. For instance, data from America's Health Rankings reveals that in the United States, over 56 million adults are aged 65 and above, constituting approximately 16.9% of the total population. The number of older individuals is expected to surpass 73.1 million by 2030 as the baby boomer generation completes the aging process. Therefore, the growing elderly population is a key driver for the mixed reality in healthcare market.

The increasing burden of neurological diseases is poised to propel the mixed reality in the healthcare market. Neurological diseases cover a broad spectrum of conditions affecting the nervous system, leading to various physical, cognitive, and functional impairments. Mixed-reality technology is increasingly applied in healthcare, particularly in the field of neurological diseases, to enhance patient outcomes. It can create virtual environments benefiting patients with conditions like Alzheimer's, Parkinson's, and multiple sclerosis by improving their cognitive and motor skills. For example, in the USA, the number of individuals living with Parkinson's disease (PD) is projected to increase from nearly one million in 2022 to 1.2 million by 2030. Therefore, the growing burden of neurological diseases is a significant driver for the mixed reality in healthcare market.

Technological advancements represent a prominent trend gaining traction in the mixed reality in healthcare market. Major companies in this market are focused on developing new technological solutions to enhance their positions. For instance, in February 2022, Apollo Hospitals Group, an India-based healthcare company, collaborated with 8chili Inc. to enable participation in the metaverse. Virtual reality patient counseling before and after surgery aims to improve outcomes by providing generic surroundings with soothing narratives, promoting control over one's body and physiological response. This individualized approach is expected to increase patient satisfaction. 8chili Inc. is a US-based deep tech firm involved in creating the foundational framework for the production and distribution of metaverse content.

Major companies in the mixed reality healthcare market are introducing innovative products, such as a new module focused on basic life support. This module utilizes mixed reality to simulate a person in need of CPR or a defibrillator, serving as an option for instructing first responders, medical and nursing students, public safety professionals, and community members. For example, in March 2023, GigXR, a US-based SaaS startup, launched a CPR training module in VR that allows learners to interact with a hologram patient experiencing cardiac arrest and medical equipment.

In December 2021, GE Healthcare, an American multinational medical technology company, acquired BK Medical for $1.45 billion. This strategic move is expected to enhance GE's capabilities in real-time surgical visualization, adding to its pre- and post-operative ultrasound capabilities and creating a comprehensive offering throughout the continuum of care from diagnosis through therapy. BK Medical, a US-based intraoperative imaging and surgical navigation company, also provides mixed reality services.

Major companies operating in the mixed reality in healthcare market include Atheer Inc., Daqri Ltd., EchoPixel Inc., Firsthand Technology Inc., Microsoft Corporation, Oculus Labs, HTC Corporation, Samsung Electronics Co. Ltd., Surgical Theater Inc., Osso VR Inc., Medical Realities Ltd., Augmedix Inc., Google LLC, MindMaze SA, Facebook Inc., Third Eye Technologies Private Limited, Orca Health Care India Private Limited, Surgical Theatre LLC, Hologic Inc., AccuVein Inc., Medivis Inc., Intuitive Surgical Inc., Philips Healthcare, Siemens Healthineers, GE HealthCare Technologies Inc., Magic Leap Inc., Intel Corporation, Varjo Technologies, Vuzix Corporation, Augmentix Corporation, AccuVein LLC

North America was the largest region in the mixed reality in healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mixed reality in healthcare market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the mixed reality in the healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The mixed reality in healthcare market includes revenue earned by devices, gadgets, and software related to mixed reality. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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