The AR/VR in Healthcare Market size is estimated to reach USD 11.63 Billion by 2028, registering a CAGR of 28.3% during the forecast period, according to a new report by Reports and Data. Major factors driving market revenue growth are healthcare digitalization, government initiatives for technological advancement in medicine, increasing healthcare expenditure, and improved medical training.
In 2021, there will be a lot of interest in VR and AR from a variety of industries, including healthcare. More and more healthcare organisations are preparing to upgrade their digital solutions with virtual reality and augmented reality (VR/AR) technologies to improve data analysis and healthcare procedures. Some businesses have discovered new ways to engage with their patients during the pandemic by using these technologies, enabling them to provide remote and individualised care. Others employ AR/VR to enhance medical training or prepare for pre-surgery activities.
VR and AR technology are being used by healthcare companies to improve consumer experiences by effectively engaging customers in healthcare operations. This will drive AR/VR in healthcare market growth in the coming years. For example, healthcare companies and their clients can arrange the sequence of procedures and observe the results using VR apps for cosmetic medicine and orthodontia. Healthcare professionals in the field of ophthalmology can supply their patients with an app that stimulates the eyesight of patients with specific disorders such as cataracts or AMD, among others. Patients will gain a better understanding of the problem and will be more engaged in their treatment.
Growth is predicted to be fueled by lower healthcare costs, fast digitalization, and enhanced delivery of effective health services. Due to extensive adoption in telemedicine, medical training & education, patient care management, and medical marketing during the COVID-19 epidemic, AR/VR in healthcare market has gained considerable traction in 2020-2021.
The AR/VR in healthcare market is restrained by a lack of expertise in the deployment of AR and VR solutions, as well as a lack of skill among medical practitioners to accept new technology.