Categories: Healthcare

Mixed Reality in Healthcare Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Mixed reality in healthcare refers to a combination of augmented and virtual reality to experience a real-life environment using digital tools in the medical field to accelerate diagnoses, improve access to healthcare, reduce infection transmission, educate, and enhance outcomes.

Sizing and Forecast
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 in the historic period can be attributed to enhanced medical training, patient education, rehabilitation and physical therapy, chronic disease management, reduced 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 growth in the forecast period can be attributed to global health initiatives, regulatory frameworks, holographic telemedicine, workflow optimization, remote consultations. Major trends in the forecast period include artificial intelligence (ai) integration, virtual clinical trials, wearable mixed reality devices, augmented preoperative planning, real-time language translation.

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Segmentation & Regional Insights
The mixed reality in healthcare market covered in this report is segmented –

1) By Device Types: AR Devices, VR Devices
2) By Component: Hardware, Software, Content and Application
3) By Application: Surgery and Surgery Simulation, Patient Care Management, Fitness Management, Medical Training and Education, Other Applications
4) By End-Users: Hospital, Surgical Centers and Medical Institutes, Other End Users

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 report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increase in older population is expected to propel the growth of the mixed reality in healthcare market going forward. The elderly population refers to people aged 65 and over. The elderly population is prone to a number of diseases and ailments that require surgery. The use of mixed reality in surgery allows surgeons to visualise a patient’s anatomy side by side with their MRI and CT scan data. For instance, according to the data released by America’s Health Rankings, an organization based in America evaluates health outcomes. In the United States, more than 56 million adults aged 65 and up life, accounting for around 16.9% of the total population. More than 73.1 million older people are expected by 2030 when the last of the baby boomer generation enters old age. Therefore, the rising elderly population is driving the growth of the mixed reality in healthcare market.

Key Industry Players
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

The mixed reality in healthcare market report table of contents includes:

1. Executive Summary

2. Mixed Reality in Healthcare Market Characteristics

3. Mixed Reality in Healthcare Market Trends And Strategies

4. Mixed Reality in Healthcare Market – Macro Economic Scenario

5. Global Mixed Reality in Healthcare Market Size and Growth

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31. Global Mixed Reality in Healthcare Market Competitive Benchmarking

32. Global Mixed Reality in Healthcare Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Mixed Reality in Healthcare Market

34. Mixed Reality in Healthcare Market Future Outlook and Potential Analysis

35. Appendix