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Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Size Forecast, 2024 – 2030

Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Size, Assessment, Volume, Value, Share, Growth, Trends, Competition, Industry Analysis, Actionable Insights Report; By Component, By Technology, By Application, By End User, By Region and By Country; Outlook and Forecast, 2024 – 2030

Report ID: VMRC1283

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Published Date: Jun, 2024

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No Of Pages: 114

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Format : Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market Size Forecast, 2024 – 2030 Report Available in PDF, Excel, PPT and Excel

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Base Year: 2023

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Report Summary

Augmented Reality and Virtual Reality in Healthcare Market Size and Growth Insights

Global Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Market size and share worth USD 3 Billion in 2023 and projected to reach USD 12 Billion by 2030, with a compound annual growth rate (CAGR) of 21% during the forecast period.

 

The surge in technological advancements and digitalization in healthcare, coupled with supportive government initiatives, escalating healthcare expenditure, and increased utilization in surgical procedures and medical training, are pivotal factors anticipated to drive the augmented reality (AR) and virtual reality (VR) technologies' adoption in healthcare. These technologies find extensive applications in surgeries, diagnostics, rehabilitation, training, and education.

 

The escalating demand for non-invasive and minimally invasive surgeries, coupled with the burgeoning acceptance and awareness of AR/VR technology in healthcare, significantly shapes the trajectory of this industry. Furthermore, advancements in VR technology and hardware, the rise in chronic diseases and conditions, and the pressing need for enhanced patient outcomes and reduced healthcare costs contribute to the industry's momentum. Moreover, the increasing use of VR in mental health therapy, scarcity of medical professionals and training facilities, and heightened investments in healthcare technology fortify the marketplace's growth. Additionally, the growing appetite for VR-based medical education and training, a heightened focus on patient-centric healthcare, and the expansion of VR applications beyond entertainment further fuel industry growth.

 

Additionally, the growing adoption of telemedicine, surging interest in VR-based pain management solutions, burgeoning partnerships between VR and healthcare entities, and government initiatives aimed at promoting VR adoption in healthcare underpin the expansive growth in this domain.

Key market drivers encompass advancements in AR & VR technology and the diversification of healthcare facilities. This expansion is propelled by escalating health condition prevalence, the heightened demand for innovative diagnostic methodologies, and breakthroughs in telemedicine and mobile applications. Globally, the utilization of simulations to recreate critical, life-threatening scenarios in the virtual realm for healthcare workers and students is witnessing a substantial uptick, indicative of the evolving landscape within the industry.

The surging demand for high-quality healthcare services, the imperative to curtail healthcare expenses, and the amplified integration of connected devices within the healthcare sector are pivotal factors propelling the adoption of Augmented Reality (AR) and Virtual Reality (VR) within the healthcare industry.

What is Augmented Reality (AR) and Virtual Reality (VR) in Healthcare Industry?

The utilization of Virtual Reality (VR) technology in healthcare encompasses its immersive digital capabilities to replicate medical scenarios, training modules, and therapeutic interventions. Through VR, a three-dimensional virtual environment, accessed typically via specialized equipment like headsets, enables patients, medical practitioners, and aspiring healthcare professionals to engage with and navigate this simulated realm. This technology finds diverse applications across healthcare, spanning pain management, physical and cognitive therapy, surgical skill development, patient education, and addressing mental health disorders. The controlled and immersive nature of VR creates a secure space for both patients and healthcare providers, offering potential enhancements in patient outcomes, cost reductions within healthcare delivery, and advancements in medical education and training methodologies.

Conversely, Augmented Reality (AR) merges digital content into the real-world setting using displays, cameras, and sensors, significantly impacting the healthcare domain. Healthcare professionals leverage AR to visualize and interact with three-dimensional representations of the human body, enabling exploration of therapies previously limited by logistical constraints within hospital settings. Additionally, AR aids in guiding professionals through surgical procedures and assisting patients, amplifying comprehension and care.

AR represents a live augmentation of the real-world environment, whereas VR employs headsets or multi-projected environments, sometimes incorporating real-world elements to generate immersive, lifelike simulations. Distinguishing AR as a technology enhancing real-world elements and VR as a medium creating immersive virtual environments, both play instrumental roles in various healthcare facets.

Both VR and AR contribute significantly to the healthcare sector across various domains including medical education and training, corporate communication, enhanced patient care and treatment, lifestyle and wellness management, surgical planning, telementoring, among other applications. Their integration in healthcare operations demonstrates substantial potential for advancements and efficiencies in the field. 

Augmented Reality and Virtual Reality in Healthcare Industry: Key Use Cases

  • Virtual Reality (VR) and Augmented Reality (AR) Applications in Patient Education and Communication

  • Integration of AR and VR Technologies in Medical Education and Training

  • Utilizing AR and VR for Mental Health Treatment and Adjunctive Therapy

  • Application of AR and VR in Pain Management and Physical Therapy

  • Augmented Surgery Advancements for Minimally Invasive Surgery

  • Role of VR in Stroke Rehabilitation

 

Virtual Reality (VR) and Augmented Reality (AR) Applications in Patient Education and Communication

Virtual Reality (VR) revolutionizes patient education and communication by immersing individuals into an intricately detailed exploration of the human body, granting unprecedented access to areas traditionally inaccessible. Leveraging hyper-realistic Computer-Generated Imagery (CGI), VR facilitates real-time displays of virtual models, empowering clinical practitioners to present patients with comprehensive visualizations. This immersive experience aids patients in comprehending their conditions while providing insights into the functionality of proposed therapies and treatments.

By harnessing VR technology, patients gain access to detailed information about their conditions from the comfort of their homes. Moreover, this innovation enables healthcare professionals to deliver top-tier medical consultations to remote locations without necessitating travel, effectively optimizing medical resources.

The immersive nature of VR not only facilitates comprehensive understanding but also fosters a more engaging and interactive learning experience for patients. It equips them with the knowledge to comprehend their conditions in greater depth, enhancing their active participation in their healthcare journey. Consequently, VR not only bridges geographical gaps but also empowers patients with knowledge, ultimately contributing to more informed decision-making regarding their treatment plans.

Integration of AR and VR Technologies in Medical Education and Training

Augmented Reality (AR) and Virtual Reality (VR) have revolutionized medical education and training by offering interactive digital models that surpass the limitations of traditional cadaver and book-based anatomy lessons. These advanced visualization tools provide students and educators with unparalleled access to the intricacies of human anatomy, enhancing the learning experience manifold.

Educational curricula, including clinical examinations such as OSCEs (Objective Structured Clinical Examinations), are replicated and taught using these technologies, aligning seamlessly with academic requirements. Moreover, bespoke surgical procedures can be simulated without any risk to patients, fostering a safer learning environment that significantly reduces costs and time investments while bolstering learning outcomes.

The dynamic responsiveness of virtual models surpasses the capabilities of prosected specimens, enabling students and educators to explore a spectrum ranging from macro-level assessments (like virtual full-body cardiovascular examinations) to micro-level interactions (such as visualizing CGI lipid molecules contributing to luminal occlusions). This immersive journey contributes significantly to a holistic understanding of physiology, providing a comprehensive educational experience that transcends traditional learning methods. Through AR and VR, learners delve deeper into the intricacies of human anatomy and physiology, fostering a more profound grasp of complex medical concepts and scenarios.

Utilizing AR and VR for Mental Health Treatment and Adjunctive Therapy

Augmented Reality (AR) and Virtual Reality (VR) are transforming the landscape of mental health treatment and adjunctive therapy, leveraging 360 videos and Unity-based virtual worlds to deliver interventions that surpass traditional methodologies.

Through these technologies, mental health support can be provided in diverse environments, extending beyond conventional settings. Therapists can now guide clients through scenarios that were previously impractical or impossible to recreate, such as navigating crowded shopping centers or confronting fears associated with specific locations, like tall buildings. Virtual environments enable the convenient and controlled simulation of situations relevant to mental health challenges, such as addressing a fear of flying or exploring the traumatic events associated with Post-Traumatic Stress Disorder (PTSD), with just a click of a mouse.

The effectiveness of in-situ coaching, crucial for many disorders, can now be replicated within the consulting room. Simulations and exposures can be precisely controlled, tailoring the therapeutic experience to individual needs.

One of the most impactful aspects of virtual immersion lies in its capacity to cultivate empathy. AbbVie, a pharmaceutical research and development company, harnessed this potential by creating an experiential journey. This initiative aimed to enlighten healthcare professionals about the daily struggles faced by patients coping with Parkinson's disease, fostering a deeper understanding and empathy towards their challenges. AR and VR technologies thus serve as powerful tools not only for therapeutic interventions but also for fostering empathy and enhancing understanding within the healthcare community.

Application of AR and VR in Pain Management and Physical Therapy

Augmented Reality (AR) and Virtual Reality (VR) are proving to be powerful tools in the realm of pain management and physical therapy, showcasing their potential beyond psychological applications. Notably, the University of Washington Seattle and the UW Harborview Burn Centre demonstrated the efficacy of VR immersion in reducing pain levels for patients undergoing physical therapy after a skin graft. Additionally, VR has been found to accelerate recovery times in physical therapy, offering a novel approach to rehabilitation.

The integration of VR into physical therapy regimes introduces a novel approach wherein patients engage in prescribed daily exercises within a virtual environment. This immersive experience not only adds an element of enjoyment but also enhances patient focus, contributing to a more positive outlook during what might otherwise be an arduous recovery phase. Moreover, the use of VR in stroke rehabilitation showcases its versatility in addressing a spectrum of physical therapy needs, further broadening its potential in facilitating recovery and rehabilitation processes.

The ability of VR to create an engaging and motivating environment significantly impacts patient compliance and dedication to therapeutic routines. By fostering an immersive and enjoyable experience, VR interventions in physical therapy not only aid in pain management but also contribute to faster recovery times and improved patient morale throughout their rehabilitation journey.

Augmented Surgery Advancements for Minimally Invasive Surgery

Looking ahead, the imminent future heralds a significant surge in the utilization of Immersive Technologies, particularly Augmented Surgery, aimed at augmenting the precision and efficacy of existing medical procedures. This shift anticipates an elevation in the capabilities of both caregivers and patients, promising unparalleled enhancements in accessing life-saving information and vital skills.

Beyond their classification as exciting technological advancements, Augmented Reality (AR) and Virtual Reality (VR) have substantiated their positive impacts on immersive learning across the entirety of the healthcare spectrum. These technologies transcend conventional learning methodologies, providing immersive, engaging, and effective educational experiences for medical professionals, students, and patients alike.

The impending years are poised to witness a transformative integration of AR and VR, enhancing medical procedures' accuracy, fortifying the competencies of healthcare providers, and empowering patients with unprecedented access to critical healthcare knowledge and skills. The unique capabilities of these immersive technologies position them as unparalleled tools in revolutionizing healthcare practices, signifying a future where AR and VR play indispensable roles in shaping a more proficient and informed healthcare landscape.

What are the Augmented Reality and Virtual Reality in Healthcare Market Segments and Bifurcations?

Augmented Reality and Virtual Reality in Healthcare Market Segments by Component

  • Software & Solutions
  • Hardware
    • Headsets
    • Haptic Devices
    • Controllers
    • Sensors
    • Others
  • Services
    • Content Development
    • Consulting
    • Maintenance and Support

In 2023, the hardware segment took the lead in the augmented reality and virtual reality in healthcare market, commanding a substantial revenue share of more than 60%. Devices such as head-mounted displays, smart glasses, and 3D sensors emerged as key contributors, holding significant market shares. Widely utilized in training, simulation, surgeries, diagnostics, and telementoring, head-mounted devices and smart glasses play pivotal roles across diverse healthcare applications. The extensive commercialization and high adoption rates, especially in developed nations, solidify hardware's dominance, reflecting its largest market share in 2022. Additionally, the versatility of single hardware across multiple applications drives its utilization, further impacting the AR & VR healthcare market positively.

Conversely, the software segment is poised for rapid growth throughout the forecast period, attributed to recent technological advancements in in-app design, exemplified by applications such as EyeDecide, designed for detecting various eye conditions through multiple parameters. Apps such as Applied VR have emerged to alleviate patient anxiety during surgical procedures. The burgeoning interconnectivity and network services have facilitated patient access to these platforms, fostering the software segment's anticipated substantial gains from 2023 to 2030.

This growth trajectory is fueled by escalating demand for software solutions capable of creating, managing, and analyzing VR & AR content within healthcare settings. These software solutions empower healthcare professionals to craft applications spanning surgery simulations, patient education, and mental health therapy. Moreover, the surge in cloud-based AR & VR software solutions significantly contributes to segment growth, offering easier and cost-effective implementation of AR & VR technologies within healthcare facilities. This trend propels the software segment's ascendancy, emphasizing its pivotal role in the evolving landscape of AR & VR applications within healthcare.

Augmented Reality and Virtual Reality in Healthcare Market Segments by Technology

  • Augmented Reality
  • Virtual Reality

In 2023, the augmented reality (AR) segment asserted its dominance, capturing the largest revenue share at 60% within the AR & VR in healthcare market. AR technology manifests a 3D representation of objects and the surrounding environment, primarily through wearables like head-mounted display devices and smart glasses. The surge in demand for augmented reality stems from various factors, including technological advancements, amplified need for effective treatment modalities, augmented public and private investments, a surge in mergers and acquisitions, and declining prices of head-mounted devices.

Conversely, the virtual reality (VR) segment is poised for substantial growth in the upcoming forecast years. VR technology enables users to immerse themselves in a three-dimensional environment, offering significant opportunities in rehabilitation and pain management. Notably, VR exposure therapy serves as a potent tool in treating diverse phobias, encompassing fear of heights, driving, claustrophobia, and posttraumatic stress disorders. The growth of the virtual reality market is propelled by factors such as the escalating incidence of neurological disorders and the burgeoning demand for innovative diagnostic methodologies, both contributing positively to market expansion.

Augmented Reality and Virtual Reality in Healthcare Market Segments by Application

Patient Care Management

  • Fitness Management
  • Medical Education & Training
  • Rehabilitation 
  • Therapy Procedures
  • Surgery
  • Pharmacy Management
  • Pain Management
  • Mental Health Therapy
  • Others

The applications of augmented reality (AR) and virtual reality (VR) technologies in healthcare span various crucial areas, revolutionizing processes and enhancing patient care.

Augmented reality technology finds substantial utility in the realm of surgical preparation and minimally invasive surgeries, driven by technological advancements and a surging demand to simplify medical procedures. Its widespread adoption is further bolstered by strategic partnerships between key market players, exemplified by Vuzix's collaboration with VSee to develop smart glass tailored for the telemedicine industry. AR's reach extends beyond surgical realms, enhancing various healthcare processes, with an anticipated rise in mergers and acquisitions likely to intensify competition and potentially lower prices. Augmented reality's applications encompass anatomy studies, operative and postoperative services, and diverse medical training procedures. Its integration into rehabilitation services creates controlled environments that facilitate user interaction, thus augmenting the recovery process significantly.

Conversely, virtual reality technology continues to evolve, expanding its foothold in healthcare. The patient care management segment remains a prominent application domain, leveraging VR's immersive and interactive capabilities to enhance patient outcomes in pain management, rehabilitation, and chronic disease management. VR emerges as a non-pharmacological alternative, potentially reducing opioid usage for pain management. Additionally, it plays a pivotal role in patient education and training, empowering individuals to comprehend medical conditions and treatments more comprehensively. The applications of VR span fitness management, education, and training, although patient care management remains the predominant application domain.

The VR sector anticipates substantial growth, backed by increasing investments from healthcare IT companies and notable innovations in healthcare IT. Its applications span surgery simulation, robotic surgery, skills training, and phobia treatment. The ease of performing and learning surgical procedures through VR is expected to drive its adoption within the market.

Augmented Reality and Virtual Reality in Healthcare Market Segments by End User

  • Hospitals, Clinics, Surgical Centers
  • Research & Diagnostics Laboratories
  • Pharma Companies
  • Others

The fastest-growing end-use segment within the Augmented and Virtual Reality in Healthcare market is presently dominated by hospitals, clinics, and surgical centers. This surge is attributed to the rising adoption of VR technology among healthcare providers. The utilization of VR within these facilities is particularly noteworthy for its applications in patient care management, medical training, and surgical simulations. Healthcare providers are increasingly embracing AR & VR technologies to enhance patient care experiences, revolutionize medical training methodologies, and conduct realistic surgical simulations.

What are the Major Growth Drivers, Restraints, and Opportunities in Augmented Reality and Virtual Reality in Healthcare Market?

Rising Adoption of AR and VR in Medical Education and Training Propels Growth in the AR & VR in Healthcare Market

The healthcare industry has swiftly embraced augmented and virtual reality technologies due to their multifaceted benefits. In essence, these technologies enable patients to visualize medical procedures, aiding in better comprehension before actual surgeries or treatments through simulation systems. Beyond patient understanding, AR and VR offer significant advantages in training sessions for medical professionals like students, doctors, and nurses.

These technologies revolutionize interactive training within the medical field, accelerating the learning process by providing visual simulations before practical application. For instance, in medical education, AR and VR platforms facilitate immersive experiences, allowing individuals to visualize and practice procedures before conducting them in reality. Surgeons leverage these technologies to simulate intricate procedures, such as removing virtual tumors or performing organ replacements within VR environments. This method mitigates the risk of errors by enabling practitioners to hone their skills in a controlled and risk-free space, reducing the reliance on learning through observing procedures on actual patients. The adoption of AR and VR in healthcare training not only enhances skill acquisition but also contributes to a safer, more informed, and efficient learning environment for medical professionals.

Surge in AR and VR Utilization in Surgery Expected to Propel AR & VR in Healthcare Market

The advancements in Augmented Reality (AR) and Virtual Reality (VR) technologies have revolutionized the simulation of medical procedures and surgeries within virtual environments, enabling non-invasive or minimally invasive approaches. This serves as a significant driver for the utilization of VR in healthcare, significantly reducing the risk of complications and expediting patient recovery. Moreover, VR serves as a pivotal tool in training medical professionals, further enhancing patient outcomes by refining procedural skills.

The technology allows for the simulation of surgical procedures, offering a safe environment for trainee surgeons to enhance their skills with minimal risks. Ongoing research in this field is focused on creating virtual surroundings that immerse trainee surgeons, aiming to improve their proficiency. Advanced technologies like eye tracking are being explored to assist surgeons in assessing their depth of knowledge in specific areas. Studies have indicated several advantages of using VR for surgical training, including cost reduction, minimizing risks to patients and trainees, reducing the time required for real-life surgeries, and enabling the practice of procedures not feasible with traditional surgical methods.

Beyond surgical training, VR is extensively used in physiotherapy and rehabilitation. Notably, research in cataract surgery has demonstrated significant benefits in using VR technologies to enhance the rehabilitation process for patients’ post-surgery.

Furthermore, VR and AR play a pivotal role in preparing patients for surgeries, mitigating anxiety associated with these procedures. By offering immersive and informative experiences, these technologies empower patients with a better understanding of surgical processes, contributing to a more informed and relaxed pre-surgical environment.

Increasing Utilization of VR in Mental Health Therapy to Drive the Expansion of AR & VR in Healthcare Market

VR technology has emerged as a valuable tool in mental health therapy, offering patients a controlled and safe environment to confront and experience their fears and anxieties. Its application spans the treatment of various mental health conditions, including post-traumatic stress disorder (PTSD), phobias, and anxiety disorders. This utilization is a significant driver for the growth of the VR in healthcare market, addressing the global health concern posed by mental health conditions and showcasing promising results in clinical studies.

In mental health practices, AR/VR is predominantly employed for exposure therapy, particularly in the context of treating veterans with PTSD. Exposure therapy involves introducing triggering or anxiety-inducing stimuli to patients in a secure environment. VR, in particular, presents a unique opportunity to simulate diverse situations within the therapist's office or another controlled setting. In comparison to traditional exposure therapy, VR-facilitated exposure therapy has fewer limitations, offering a more versatile and adaptable approach.

Studies recognized by the FDA highlight VR exposure therapy's efficacy in treating phobias, anxiety, and posttraumatic stress, with ongoing explorations into its potential effectiveness in addressing conditions like psychosis, autism spectrum disorder (ASD), attention deficit hyperactivity disorder (ADHD), eating disorders, and schizophrenia spectrum disorder.

What are the Regional and Country Trends in the Augmented Reality and Virtual Reality in Healthcare Market?

Augmented Reality and Virtual Reality in Healthcare Market – Regional Trends and Outlook

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

North America dominated the global augmented and virtual reality in healthcare market, securing the largest revenue share of 50% in 2023. The region boasts a robust healthcare infrastructure and widespread adoption of advanced technologies. The increasing integration of AR & VR technology in healthcare is fueled by the demand for non-invasive and cost-effective treatments, heightened awareness of AR & VR technology, and the presence of key industry players. North America is a hub for significant research and development activities related to AR/VR in healthcare, further propelling market growth. The driving forces include increased technology adoption, substantial investments in R&D, and supportive government initiatives. The U.S. National Institute of Health funds research in virtual reality applications in healthcare. Additionally, the surge in healthcare IT services outsourcing in North America, driven by pressure to reduce treatment costs, positively impacts the augmented and virtual reality market in healthcare within the region. 

Report Attributes

Details

Augmented Reality and Virtual Reality in Healthcare Market Forecast Years

2024 to 2030

Augmented Reality and Virtual Reality in Healthcare Market Historical Years

2019, 2020, 2021, 2022, 2023

Augmented Reality and Virtual Reality in Healthcare Market Size 2023

USD 3 Billion

Augmented Reality and Virtual Reality in Healthcare Market CAGR

21% (2023 to 2030)

Augmented Reality and Virtual Reality in Healthcare Market Size 2030

USD 12 Billion

Key Segments

Component, Technology, Application, End-User, and Region

Key Regions & Countries

North America (The U.S. Canada, Mexico), Europe (Germany, The U.K, France, Netherlands, Spain,  Russia, Poland, Benelux, Nordic Countries, Rest of Europe Countries), Asia Pacific (China, Japan, India, South Korea, ASEAN, Australia, Rest of APAC Countries), Middle East & Africa (GCC – UAE, Saudi Arabia, Qatar, Oman, Bahrain, Kuwait), Israel, South Africa, Egypt, Rest of MEA Countries), and South America (Brazil, Argentina, Colombia, Chile, Rest of South America Countries). 

Some Key Companies

3D Systems Inc., Atheer, Augmedix, BioFlight VR, CAE Healthcare, DAQRI, Eon Reality Inc., Firsthand Technology, GE Healthcare, HTC Corporation, Intuitive Surgical, Layar, Medical Realities, Medisim Ltd., Microsoft Corporation, Mindmaze, Oculus VR, Osso VR Inc., Philips Healthcare, Psious, Samsung Electronics Co. Ltd., Siemens Healthineers, TheraSim Inc, Varjo Technologies Oy, VirtaMed, Virtually Better Inc., VRHealth, WorldViz, and Others.

 How is the Competition Scenario in Augmented Reality and Virtual Reality in Healthcare Market?

Augmented Reality and Virtual Reality in Healthcare Market – Competitive Landscape and Outlook

The augmented and virtual reality in healthcare market players are expanding their presence through substantial investments in research and development, aiming to introduce innovative products and solutions that enhance patient care and healthcare training. Strategic partnerships and collaborations are also focal points for these players, enabling them to broaden their product offerings and extend their geographic reach. Moreover, a strategic focus on mergers and acquisitions is prevalent among market participants, with the goal of increasing market share and gaining a competitive advantage. Key players are actively exploring new applications of VR technology in healthcare to meet the rising demand for advanced healthcare solutions. Numerous startups are introducing innovative applications of these technologies in the healthcare domain.

Some of the key players operating in augmented reality and virtual reality in healthcare market include:

3D Systems Inc., AppliedVR, Atheer, Augmedix, BioFlight VR, CAE Healthcare, DAQRI, Eon Reality Inc., Firsthand Technology, GE Healthcare, HTC Corporation, Intuitive Surgical, Layar, Medical Realities, Medisim Ltd., Microsoft Corporation, Mindmaze, Oculus VR, Osso VR Inc., Philips Healthcare, Psious, Samsung Electronics Co. Ltd., Siemens Healthineers, TheraSim Inc, Varjo Technologies Oy, VirtaMed, Virtually Better Inc., VRHealth, WorldViz, and XRHealth, among others.

 

Augmented and Virtual Reality in Healthcare Industry Developments

  • In April 2024, the FDA launched a new initiative named Home as a Health Care Hub. This initiative aims to leverage augmented reality and virtual reality to enhance health equity by integrating the home environment into the healthcare system. The hub, envisioned as an augmented reality/virtual reality (AR/VR)-enabled home prototype, is slated for completion later this year in 2024. Initially, the prototype will prioritize building structures in rural areas and lower-income communities, with a primary focus on addressing diabetes.
  • In November 2023, BehaVR, a VR behavioral health platform, announced its merger with Fern Health, a virtual chronic care-management company, forming RealizedCare. This digital care-management platform specializes in chronic pain, powered by digital therapeutics. BehaVR developed prescription digital therapeutics for mental and behavioral health, addressing pain, stress, anxiety, and addiction. Fern Health provides tailored programs, education, activities, and tools focused on improving individuals' quality of life and physical function, covering emotional, physical, and social aspects of chronic pain.
  • In April 2023, Vuzix, a smart glass and AR technology expert, partnered with VSee, a telemedicine solutions provider, to develop smart glasses for the telemedicine industry. 
  • In March 2023, Galderma launched FACE by Galderma, an innovative aesthetic visualization tool powered by augmented reality (AR). This tool allows aesthetic professionals and patients to visualize injectable treatment results at the planning stage, offering a simulated real-time "before and after" visual, alleviating patient concerns.
  • In January 2023, ThirdEye, a pioneer in Augmented Reality and Artificial Intelligence (AR/AI) solutions, announced the launch of an integrated hardware and software package for the healthcare industry. This package includes solutions for AR Holographic display, AR telehealth, AI remote surgery, Alzheimer's aid, vision impairment, and thermal display.
  • In September 2022, Novant Health introduced the first-ever leadership training utilizing AI-powered virtual reality technology. 
  • In June 2022, MediSim established India's first fully automated Virtual Reality (VR) lab at the Puducherry Institute of Medical Sciences (PIMS), enhancing the medical skills of MBBS students for the future.
  • In May 2022, PrecisionOS announced a collaboration with Medtronic Saudi Arabia, expanding its VR training into general surgery. The company, a leading provider of surgeon education, offers training for complex soft tissue surgery on a portable VR solution, the Meta Quest.
  • In April 2022, Moonhub, a UK-based virtual reality training platform, announced a USD 2.6 million seed funding round with Pi Labs, a global proptech venture capital firm, launching ELARA, the startup's health and social care training suite, starting with dementia care training.
  • In March 2022, Rocket VR Health, a Boston-based digital therapeutics firm, announced a research agreement with Massachusetts General Hospital to jointly develop clinical therapies for cancer patients using its VR platform.
  • In February 2022, Apollo Hospitals announced a partnership with 8chili Inc, a deep-tech startup based in California, leveraging virtual reality to improve patient engagement and overall experience.
  • In November 2021, the U.S. Food and Drug Administration (FDA) granted de novo approval to AppliedVR for its flagship immersive therapeutic, EaseVRx (now known as RelieVRx), for treating chronic low back pain. RelieVRx is a prescription-use immersive virtual reality system designed to provide adjunctive treatment utilizing cognitive behavioral therapy skills and evidence-based behavioral methods. It targets patients aged 18 and older diagnosed with chronic lower back pain, defined as moderate to severe pain persisting for more than three months. The device is intended for in-home use to alleviate pain and its interference associated with chronic lower back pain.
  • In May 2021, MindMaze Healthcare announced four new partnership agreements with Surgicorp, Alkholi, Guttmann Barcelona, and Swiss Rehabilitation, extending MindMaze’s digital neurotherapeutics to patients in Latin America, the Middle East, Spain, and Switzerland.

FAQs

What is Global Augmented Reality and Virtual Reality in Healthcare Market Growth?

The global augmented and virtual reality market is expected to grow at a compound annual growth rate (CAGR) of around 21% from 2024 to 2030.

What are the Factors Driving the Augmented Reality and Virtual Reality in Healthcare Market?

The growth of the augmented and virtual reality in healthcare market is driven by several key factors, including the surge in technological advancements and digitalization within healthcare, supportive government initiatives, increasing healthcare spending, expanded usage in surgical procedures and medical training, rising demand for non-invasive and minimally invasive surgeries, growing acceptance and awareness of AR/VR technology in healthcare.

How Big is Global Augmented Reality and Virtual Reality in Healthcare Market?

The global augmented and virtual reality in healthcare market size in terms of revenue was estimated to be USD 3 Billion in 2023.

Which Segment Accounted for Largest Share of Global Augmented Reality and Virtual Reality in Healthcare Market?

In 2023, hardware emerged as the dominant segment in augmented and virtual reality in healthcare market, securing a substantial share exceeding 60%. Devices such as head-mounted displays, smart glasses, and 3D sensors emerged as key contributors, holding significant market shares.

Who are the Key Players in Augmented Reality and Virtual Reality in Healthcare Market?

Some of the key players operating in the augmented and virtual reality in healthcare market include 3D Systems Inc., AppliedVR, Atheer, Augmedix, BioFlight VR, CAE Healthcare, DAQRI, Eon Reality Inc., Firsthand Technology, GE Healthcare, HTC Corporation, Intuitive Surgical, Layar, Medical Realities, and others.

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