The global mixed reality in healthcare market is anticipated to reach $30.60 Billion by 2032, growing from $2.70 Billion in 2022 at a CAGR of 27.0% from 2023 to 2032.
Mixed Reality (MR) combines the physical and digital worlds to create settings in which tangible and digital items coexist and interact in real time. While Augmented Reality (AR) just displays a layer of digital content on top of the actual world, MR provides real-world integration and interaction with virtual content.
Rising awareness of the use of MR technology in medical operations such as surgery is one of the primary factors impacting the global mixed reality in healthcare market development. The Increasing use of MR technologies in medical and healthcare training procedures is expected to drive the global mixed reality in healthcare market expansion in the upcoming years. Furthermore, an Increase in the number of studies and R&D efforts analyzing the usefulness of adopting MR technologies to treat mental health disorders as well as for pain management is driving the global mixed reality in healthcare market growth.
The high cost of products and devices is a major impediment to the global mixed reality in healthcare market growth. In addition, a shortage of skilled professionals, data security, and privacy issues are projected to hamper the adoption of MR in the healthcare sector. These are the major factors anticipated to hinder the market revenue growth in the upcoming years.
The Increase in use of mixed reality in the healthcare industry is being driven by the creation of contemporary healthcare infrastructure, elevated patient awareness, and mixed reality adoption. In addition, rising R&D of MR-based solutions for usage in a variety of medical illnesses across various geographies is anticipated to create several opportunities in the market. The use of MR technology in the healthcare industry is expected to Increase owing to the Increasing awareness of MR through better visibility of MR-based solutions and equipment.
During the pandemic, there was a rise in the demand for virtual and augmented reality in the healthcare sector. Doctors were able to comprehend and investigate the effects of the novel virus strain owing to the usage of virtual reality in healthcare. Medical professionals can now view real-time radiographic insights that highlight the effects of disease on patient’s body due to the use of virtual reality in healthcare. Post-Intensive Care Syndrome (PICS) was developed in the majority of patients who overcame the COVID-19 infection. .
The key players profiled in this report Include Daqri, EchoPixel, Inc., Oculus VR, Atheer, Inc., Firsthand Technology, Inc., Osso VR, Surgical Theater, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., and HTC Corporation.
Mixed Reality (MR) combines the physical and digital worlds to create settings in which tangible and digital items coexist and interact in real time. While Augmented Reality (AR) just displays a layer of digital content on top of the actual world, MR provides real-world integration and interaction with virtual content.
Rising awareness of the use of MR technology in medical operations such as surgery is one of the primary factors impacting the global mixed reality in healthcare market development. The Increasing use of MR technologies in medical and healthcare training procedures is expected to drive the global mixed reality in healthcare market expansion in the upcoming years. Furthermore, an Increase in the number of studies and R&D efforts analyzing the usefulness of adopting MR technologies to treat mental health disorders as well as for pain management is driving the global mixed reality in healthcare market growth.
The high cost of products and devices is a major impediment to the global mixed reality in healthcare market growth. In addition, a shortage of skilled professionals, data security, and privacy issues are projected to hamper the adoption of MR in the healthcare sector. These are the major factors anticipated to hinder the market revenue growth in the upcoming years.
The Increase in use of mixed reality in the healthcare industry is being driven by the creation of contemporary healthcare infrastructure, elevated patient awareness, and mixed reality adoption. In addition, rising R&D of MR-based solutions for usage in a variety of medical illnesses across various geographies is anticipated to create several opportunities in the market. The use of MR technology in the healthcare industry is expected to Increase owing to the Increasing awareness of MR through better visibility of MR-based solutions and equipment.
During the pandemic, there was a rise in the demand for virtual and augmented reality in the healthcare sector. Doctors were able to comprehend and investigate the effects of the novel virus strain owing to the usage of virtual reality in healthcare. Medical professionals can now view real-time radiographic insights that highlight the effects of disease on patient’s body due to the use of virtual reality in healthcare. Post-Intensive Care Syndrome (PICS) was developed in the majority of patients who overcame the COVID-19 infection. .
The key players profiled in this report Include Daqri, EchoPixel, Inc., Oculus VR, Atheer, Inc., Firsthand Technology, Inc., Osso VR, Surgical Theater, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., and HTC Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mixed reality in healthcare market analysis from 2022 to 2032 to identify the prevailing mixed reality in healthcare market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the mixed reality in healthcare market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global mixed reality in healthcare market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Augmented Reality
- Virtual Reality
By Component
- Hardware
- Software
- Content and Application
- Others
By Application
- Surgery and Surgery Simulation
- Patient Care Management
- Fitness Management
- Medical Training and Education
- Others
By End User
- Hospital
- Surgical centers and Medical Institutes
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players
- Atheer, Inc.
- Daqri
- ECHOPIXEL, Inc.
- Firsthand Technology, Inc.
- HTC Corporation
- Microsoft Corporation
- Oculus VR
- Osso VR
- Samsung Electronics Co. Ltd.
- Surgical Theater, Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MIXED REALITY IN HEALTHCARE MARKET, BY TYPE
CHAPTER 5: MIXED REALITY IN HEALTHCARE MARKET, BY COMPONENT
CHAPTER 6: MIXED REALITY IN HEALTHCARE MARKET, BY APPLICATION
CHAPTER 7: MIXED REALITY IN HEALTHCARE MARKET, BY END USER
CHAPTER 8: MIXED REALITY IN HEALTHCARE MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Mixed Reality in Healthcare Market,' The mixed reality in healthcare market was valued at $2.7 billion in 2022, and is estimated to reach $30.6 billion by 2031, growing at a CAGR of 27% from 2023 to 2031.Mixed reality is a merging of the physical and digital worlds that allows for natural and intuitive 3D interactions between computers, humans, and the environment. Advances in computer vision, graphical processing, display technologies, input methods, and cloud computing have all contributed to this new reality. Since its beginnings, the mixed reality (MR) application has evolved into a mixture of virtual reality (VR) and augmented reality (AR). Recognizing the combined potential of these technologies, medical practitioners have begun to investigate MR capabilities in the healthcare sector in recent years.
Growing awareness of the use of mixed reality technology in surgical and other developments and increasing acceptance of MR in medical education processes are the key factors driving the growth of market. In addition, there is an increasing amount of research activities and studies demonstrating the use of MR in specific medical conditions such as pain management and mental health, leading to greater acceptance. Technological advancements in mixed reality help increase the efficiency of surgical procedures and reduce the number of human errors. Therefore, increase in use of such technologies will increase surgeon efficiency and improve patient outcomes.
Mixed reality are huge in size and have several other disadvantages, such as lumpiness and high implementation costs, which hampers the adoption process of these tools. Similarly, for some healthcare facilities, the available resolution and computer specification/configuration may be a constraint. Furthermore, as this sector has been using a paper-based system for a longer period of time, the adoption of electronic medical records may necessitate certain technological skills. This aspect is expected to hamper the MR in healthcare market growth.
Technological innovations and advances in mixed reality are paving the way for the development of MR assistive tools and devices that help increase surgical efficiency while reducing the potential for human error. This trend will increase the efficiency of health care professionals such as doctors and surgeons and improve patient outcomes. This will contribute to the expansion of the mixed reality in healthcare market. Other major factors of the global mixed reality in healthcare market expansion also include the presence of an established and highly developed healthcare and medical infrastructure, as well as increased patient awareness. All these factors are anticipated boost the mixed reality in healthcare market growth in upcoming years.
The mixed reality in healthcare market is segmented on the basis of type, component, application, end user, and region. By type, the market is divided into augmented reality and virtual reality. By component, the market is classified into hardware, software, content & application, and others. By application, the market is classified into surgery & surgery simulation, patient care management, fitness management, medical training & education, and others. By end user, the market is classified into hospital, surgical centers & medical institutes, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the mixed reality in healthcare market report include Daqri, EchoPixel, Inc., Oculus VR, Atheer, Inc., Firsthand Technology, Inc., Osso VR, Surgical Theater, Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., and HTC Corporation.
The report offers a comprehensive analysis of the global mixed reality in healthcare market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Mixed Reality in Healthcare Industry
The demand for virtual and augmented reality in the healthcare industry increased during the pandemic. The use of virtual reality in the healthcare sector allowed doctors to better understand and research the impact of the new viral strain.Virtual reality in healthcare has also assisted medical personnel in obtaining real-time radiographic insights, showing the impact on patient’s body. Most patients who recovered from the COVID-19 infection developed Post-Intensive Care Syndrome (PICS). In this case, virtual reality technology assisted patients in recovering from this syndrome through virtual rehab sessions.
Increase in demand for services such as telemonitoring, medical training and education, and patient management in the post-pandemic period are driving market expansion. Furthermore, during the pandemic situation, there was a significant increase in demand for rapid digitalization, training of healthcare experts, and an increase in adoption of mixed reality by the healthcare industry.
Key Findings of the Study
- Based on type, the augmented reality sub-segment emerged as the global leader in 2022 and is expected to grow with the highest CAGR during the forecast period.
- Based on component, the software sub-segment emerged as the global leader in 2022 and is predicted to have a fastest growth rate during the forecast years.
- Based on application, the patient care management sub-segment emerged as the global leader in 2022 and the surgery and surgery simulation sub segment is expected to grow with the highest CAGR during the forecast period.
- Based on end user, the hospital sub-segment emerged as the global leader in 2022 and the surgical centers and medical institutes sub-segment is expected to grow with the highest CAGR during the forecast period.
- Based on region, Asia-Pacific registered the highest market share in 2022 and is projected to show the fastest growth during the forecast period
Companies Mentioned
- Atheer, Inc.
- Daqri
- ECHOPIXEL, INC.
- Firsthand Technology, Inc.
- HTC Corporation
- Microsoft Corporation
- Oculus VR
- Osso VR
- Samsung Electronics Co. Ltd.
- Surgical Theater, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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