Published Date: 9-Mar-2021
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According to a new report Global Mixed Reality in Healthcare Market, published by KBV research, The Global Mixed Reality in Healthcare Market size is expected to reach $723.9 Million by 2026, rising at a market growth of 57.3% CAGR during the forecast period.
The Software market dominated the Global Mixed Reality in Healthcare Market by Component in 2019. The hardware segment would exhibit a promising growth rate during the forecast period. This growth is due to the easy accessibility of hardware components. Additionally, the acceptance of MR-based software technologies is expected to witness a surge due to the increasing demand for software technologies for better patient engagement. For example, Firsthand Technology has health software termed Cool, which can be used for offering relaxing and soothing effects to the patient with the help of MR and VR technology. Hence, the market growth is expected to be fueled by the rising adoption of MR-based software.
On the basis of end-user, the hospital segment acquired the major revenue share in 2019 in the mixed reality in the healthcare market. This can be accredited to the increasing adoption of technology based on mixed reality to manage patient care management in a better way. Moreover, the rising usage of mixed reality technologies for pain management, & mental health is further fostering the growth of mixed reality in the healthcare market. The Surgical Centers and Medical Institutes market would exhibit a CAGR of 57.6% during (2020 - 2026).
On the basis of application, patient care management garnered the maximum revenue share in 2019 in the mixed reality in the healthcare market during the forecast period. This is due to the rise in demand for advanced technologies in order to improve the patient experience. Moreover, the market growth is also boosted by various factors like rising occurrences of severe medical conditions such as cancer and the increasing significance of patient care management for patient referrals.
The North America market dominated the Global Mixed Reality in Healthcare Market by Region in 2019. The Asia-Pacific region is anticipated to showcase a promising growth rate in the market for mixed reality in healthcare. This is due to the rising economic growth, growing acceptance of digital solutions for healthcare, and consistently growing healthcare infrastructure. Moreover, the growth of the global mixed reality in the healthcare market is expected to be propelled by the rising rates of psychological or mental disorders along with the increasing aging population.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Samsung Electronics Co., Ltd. (Samsung Group), HTC Corporation, Facebook, Inc., CounterPath Corporation (Firsthand Technology, Inc.), EchoPixel, Inc., Surgical Theater, Inc., Atheer, Inc., Osso VR, Inc., and Medical Realities Ltd.
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