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How much is the healthcare extended reality market worth, and how is it expected to expand?
The healthcare extended reality market size has grown exponentially in recent years. It will grow from $8.43 billion in 2024 to $11.22 billion in 2025 at a compound annual growth rate (CAGR) of 33.1%. The growth in the historic period can be attributed to an increase in surgical procedures, increasing demand for pain management, rising prevalence of chronic diseases, increasing health care expenditure, and enhanced medical training and education.
The healthcare extended reality market size is expected to see exponential growth in the next few years. It will grow to $34.83 billion in 2029 at a compound annual growth rate (CAGR) of 32.7%. The growth in the forecast period can be attributed to a rise in pioneering applications in medical training and education, a growing number of mental health issues, the growing adoption of XR technology in medical education training, and an increasing number of healthcare institutions. Major trends in the forecast period include advances in telemedicine technologies, technological advancements, innovations in display technologies, innovations in virtual reality headset technology, and digital health technologies.
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Which industry factors have accelerated the healthcare extended reality market’s expansion?
The increased adoption of telemedicine is expected to propel the growth of the healthcare extended reality market. Telemedicine refers to the use of telecommunications technology to provide medical care and services remotely, enabling patients to consult healthcare professionals without needing to visit a medical facility in person. The increased adoption of telemedicine can be attributed to the growing demand for convenient healthcare access and advancements in technology, which enable remote consultations and monitoring. Healthcare extended reality (XR) enhances telemedicine by enabling immersive remote consultations, virtual examinations, and interactive training, thereby improving patient engagement, diagnosis accuracy, and collaborative care among healthcare professionals. For instance, in June 2024, according to the Centers for Disease Control and Prevention, a US-based government agency, the proportion of adult telemedicine users in 2022 was 30.1% over the previous year. Furthermore, in August 2022, according to the Australian Digital Health Agency, an Australia-based government agency, between 13 March 2020 and 31 July 2022, 118.2 million telehealth services were delivered to 18 million patients, and more than 95,000 practitioners used telehealth services in 2022. Therefore, increased adoption of telemedicine is driving the growth of the healthcare extended reality market.
What are the primary segments of the healthcare extended reality market?
The healthcare extended reality market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Augmented Reality, Virtual Reality, Mixed Reality
3) By Application: Surgery, Therapy, Education And Training, Rehabilitation, Pain Management, Other Applications
4) By End User: Hospitals Clinics And Surgical Centers, Pharma Companies, Research Organization And Diagnostics Laboratories, Other End Users
Subsegments:
1) By Hardware: Head-Mounted Displays (HMDs), Smart Glasses, Haptic Feedback Devices, Sensors and Cameras
2) By Software: Virtual Reality (VR) Software, Augmented Reality (AR) Software, Mixed Reality (MR) Software, Simulation and Training Software
3) By Services: Consulting Services, Integration And Deployment Services, Support And Maintenance Services, Training And Education Services
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Which firms are leading the healthcare extended reality market?
Major companies operating in the healthcare extended reality market are Microsoft Corporation, Meta Platforms Inc., Qualcomm Technologies Inc., Medtronic plc, NVIDIA Corporation, EInfochips Inc., PTC Inc., American Medical Association, EON Reality Inc., Osso VR Inc., zSpace Inc., SphereGen Technologies LLC, VirtaMed AG, CareAR Inc., Surgical Theater Inc., XRHealth, Mary Ann Liebert Inc., AppliedVR Inc., OramaVR Inc., Apprentice.io, Auganix Ltd., Fusion VR, GigXR Inc., PrecisionOS Technology Inc., SentiAR Inc.
Which market trends are set to define the future of the healthcare extended reality market?
Major companies operating in healthcare extended reality are focused on developing innovative technologies, such as integrating virtual and augmented reality technologies, to enhance medical training, patient treatment, and surgical planning. Integrating virtual and augmented reality technologies enhances user experiences by blending digital content with the real world, creating immersive and interactive environments. For instance, in April 2024, SindyXR Inc., a US-based telehealth group therapy platform company, launched its first extended reality (XR)-based group health support system, which enhances patient care through immersive educational experiences that boost engagement and enable remote access to healthcare services. It also aids in mental health treatments, alleviates pain perception, and promotes collaboration among healthcare professionals, resulting in improved health outcomes.
Which geographic trends are shaping the healthcare extended reality market, and which region has the highest market share?
North America was the largest region in the healthcare extended reality market in 2024. The regions covered in the healthcare extended reality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Healthcare Extended Reality Market Report 2025 Offer?
The healthcare extended reality market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Healthcare extended reality refers to the integration of virtual reality (VR), augmented reality (AR), and mixed reality (MR) technologies to enhance medical training, patient treatment, and surgical procedures. It is used for improving patient outcomes, enabling immersive simulations for healthcare professionals, and facilitating remote consultations and rehabilitation.
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