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Pulished Date June, 2021
ID: 11667
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Global Mixed Reality in Healthcare Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Component, Application, End-user & Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)- Industry Forecast (2021 to 2026)

Pulished: June, 2021
ID: 11667
Pages: 190

Global Mixed Reality in Healthcare Market Size (2021 to 2026)

The global mixed reality in healthcare market is one of the fastest-growing markets in the healthcare industry. From 2021 to 2026, the global mixed reality in healthcare market is forecasted to witness a remarkable CAGR of 46.8% and worth USD 2.6 billion by 2026.

Combining real and virtual worlds to create new habitats and representations in which physical and digital items co-exist and interact in real-time is known as mixed reality (MR). Mixed reality is a combination of reality and virtual reality that does not occur solely in either the physical or virtual worlds. Virtual reality (VR) and augmented reality (AR) are two examples of mixed reality used in the gaming and film industries. Mixed reality is helping healthcare service providers organize, evaluate, and control healthcare processes more conveniently and effectively, building on the uses of virtual and augmented reality in healthcare. In recent years, physicians have begun to investigate the possible uses of immersive technology in healthcare. For example, researchers from the Netherlands, Sweden, and the United Kingdom discussed practical applications in medical education and training and preprocedural planning and visualization during surgery at a Coffee and Talk event at ECR 2019. Medical operations may be made considerably easier for healthcare professionals while also being safer for patients via mixed reality.

MARKET DRIVERS:

The rising utilization of mixed reality in the healthcare industry drives market growth.

The market for mixed reality in healthcare is being driven by an increase in mixed reality in healthcare. The healthcare business has been quickly developing in recent years. Many healthcare practitioners are adopting mixed reality because it has a bright future. Surgeons can now do operations on patients thousands of kilometers distant using Mixed Reality. It allows nurses to practice their abilities and execute hundreds of surgeries without ever touching a patient. Mixed reality offers a significantly more practical way to see images and data than charts or displays for doctors. Furthermore, by projecting information into medical records or even directly on the patient, mixed reality might enable new methods to connect with patients. Mixed reality is also becoming more popular to deliver pertinent medical information in real-time and give hospital-level treatment to patients at home. Even in medical education, mixed reality is becoming more popular. Mixed reality interactive medical training allows students to execute practice procedures without putting their lives in danger physically. As a result, the mixed reality in the healthcare market is increasing.

Increasing research activities and mixed reality usage for the medical condition also drives the mixed reality in the healthcare market.

The mixed reality in the healthcare market is also being driven by rising research efforts and studies indicating the utility of mixed reality in specific medical problems. Many studies are now underway or finished that suggest that mixed reality may be used to solve problems with various circumstances that have yet to be resolved. Some of the medical diseases in which research is being conducted include post-traumatic stress disorder, congenital heart disease, pain management, and mental health. For example, mixed reality utilizing HoloLens® has aided surgeons in comprehending the complicated geometries of congenital heart disease. Similarly, Virtual reality (VR) has also been demonstrated to be useful in relieving acute and chronic pain in both adults and children in prior research. In addition, clinical studies conducted by Daniel Freeman, professor of clinical psychology and NIHR Research Professor at the University of Oxford, found that most subjects found virtual reality to be a pleasurable and positive experience that provided a distraction from their anxiety and distress in 2019. As a result, many research investigations are underway in this area, which would assist in developing the mixed reality industry in healthcare.

MARKET RESTRAINTS:

Lack of expertise and high cost of equipment hampers the mixed reality in the healthcare market.

However, the mixed reality in the healthcare sector is hampered by a shortage of expertise and a high cost of technology. Mixed reality is a new technology that is still in its development. As a result, the benefits and flaws are uncertain, and medical practitioners are not qualified to use this technology. In addition, the cost of mixed reality technology is out of reach for certain hospitals, tiny and medium-sized ones. Microsoft's HOLOLENS 2 mixed reality headsets, for example, costs $3,500. As a result, mixed reality is still trailing behind in terms of acceptance.

Impact of COVID-19 on the global mixed reality in healthcare market:

Millions of individuals were affected by the covid – 19 and businesses all over the world were affected. Early-stage technologies like mixed reality, virtual reality, and augmented reality have had some ups and downs during the epidemic. However, the use of virtual reality technology to simulate human behavior, infection transmission, and pathogen structure to boost skill management and safety protection is increasing. During this pandemic, the use of virtual reality (VR) for telemedicine, communications, and drug development has risen significantly. Furthermore, the usage of augmented reality is growing in the healthcare profession, allowing for high-resolution audio and video transmission, easing distant cooperation, and permitting the representation of previously unseen concepts.

In addition, the group is focusing on new ways to address the covid – 19 problems. Doctors on the front lines of the COVID outbreak, for example, utilize Microsoft HoloLens headsets to help with their patient care. Moreover, the use case for this project allows other doctors to sit in another room and watch a live video stream of the doctor treating the COVID-19 patients via Microsoft Teams. Using the devices, staff decreased the amount of time they had to spend in a high-risk region by 83 %.

Since mixed reality technology is still in its early stages, the current epidemic is also harming it. The supply of end-use mixed reality goods has been hampered due to the lockdown and travel prohibitions affecting many businesses such as IT and telecommunications, transportation and logistics, and others. Many countries facing challenges with the supply of VR/AR headsets and other equipment.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 to 2026

Base Year

2020

Forecast Period

2021 to 2026

Segments Covered

By Component, Application, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global mixed reality in healthcare market has been segmented and sub-segmented based on component, application, end-user, and region.

Mixed Reality in Healthcare Market – By Component:

  • Hardware
  • Software
  • Content and Application

Mixed Reality in Healthcare Market – By Application:

  • Surgery and Surgery Simulation
  • Patient Care Management
  • Fitness Management
  • Medical Training and Education
  • Others

Mixed Reality in Healthcare Market – By End-User:

  • Hospitals
  • Surgical Centers and Medical Institutes
  • Others

Mixed Reality in Healthcare Market – By Region:

  • North America
    • The United States
    • Canada
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • APAC
    • India
    • China
    • Japan
    • Australia
    • South Korea
    • Rest of APAC
  • Latin America
    • Mexico
    • Brazil
    • Chile
    • Argentina
    • Rest of Europe
  • Middle East and Africa

KEY MARKET PARTICIPANTS:

A few of the leading companies in the global mixed reality in healthcare market covered in this report are Daqri, Firsthand Technology, Inc., Osso VR, Atheer, Inc., Samsung Electronics Co. Ltd., EchoPixel, Inc., Oculus VR, Surgical Theater, Inc., Microsoft Corporation, HTC Corporation, Atheer, Inc., Medical Realities Ltd., Augmedix, Psious, Start-Up Ecosystem, and Widerun.

These players focus on new product launches, raising funding for R&D, and mergers and acquisitions strategies to expand their market share.

RECENT MARKET DEVELOPMENTS:

  • On 8 March 2021, Apple announced that it would soon enter the mixed reality space and launch its long-rumored device for the AR/VR experience. The Cupertino tech major is expected to launch its first mixed reality headset in 2022.
  • 18 December 2019, GIGXR, Inc. announced that it had acquired global mixed reality and immersive learning assets from Pearson PLC, the world's learning company. The acquisition includes HoloPatient and HoloHuman, leading applications for the mixed reality that facilitate clinical skills practice and anatomy learning in medical and nursing schools, undergraduate institutions, and hospitals.
  1. Introduction                                                          
    1. Market Definition                                               
    2. Scope of the report                                            
    3. Study Assumptions                                            
    4. Base Currency, Base Year and Forecast Periods                                                     
  2. Research Methodology                                                                    
    1. Analysis Design                                                   
    2. Research Phases                                                 
      1. Secondary Research                                       
      2. Primary Research                              
      3. Data Modelling                                 
      4. Expert Validation                              
    3. Study Timeline                                                    
  3. Report Overview                                                                 
    1. Executive Summary                                           
    2. Key Inferences                                                  
  4. Market Dynamics                                                                
    1. Impact Analysis                                                   
      1. Drivers                                  
      2. Restraints                              
      3. Opportunities                                    
    2. Regulatory Environment                                                  
    3. Technology Timeline & Recent Trends                                                      
  5. Competitor Benchmarking Analysis                                                             
    1. Key Player Benchmarking                                                
      1. Market share analysis                                    
      2. Products/Service                              
      3. Regional Presence                            
    2. Mergers & Acquisition Landscape                                                
    3. Joint Ventures & Collaborations                                                  
  6. Market Segmentation                                                                       
    1. Mixed Reality in Healthcare Market, By Component
      1. Hardware
      2. Software
      3. Content and Application
      4. Market Size Estimations & Forecasts (2021-2026)                               
      5. Y-o-Y Growth Rate Analysis                                         
      6. Market Attractiveness Index                                       
    2. Mixed Reality in Healthcare Market, By Application
      1. Surgery and Surgery Simulation
      2. Patient Care Management
      3. Fitness Management
      4. Medical Training and Education
      5. Others
      6. Market Size Estimations & Forecasts (2021-2026)                               
      7. Y-o-Y Growth Rate Analysis                                         
      8. Market Attractiveness Index        
    3. Mixed Reality in Healthcare Market, By End-user
      1. Hospitals
      2. Surgical Centers and Medical Institutes
      3. Others
      4. Market Size Estimations & Forecasts (2021-2026)                               
      5. Y-o-Y Growth Rate Analysis                                         
      6. Market Attractiveness Index        
    4. Mixed Reality in Healthcare Market, By End-User
      1. Hospitals and Clinics
      2. Home Healthcare
      3. Market Size Estimations & Forecasts (2021-2026)                               
      4. Y-o-Y Growth Rate Analysis                                         
      5. Market Attractiveness Index        
  7. Geographical Landscape                                                                  
    1. Global Mixed Reality in Healthcare Market, by Region                                            
    2. North America - Market Analysis (2021 to 2026)                                                      
      1. By Country                                         
        1. USA                      
        2. Canada               
    3. Europe                                                   
      1. By Country                                         
        1. UK                        
        2. France                 
        3. Germany                          
        4. Spain                   
        5. Italy                     
        6. Rest of Europe                 
    4. Asia Pacific                                             
      1. By Country                                         
        1. China                  
        2. India                    
        3. Japan                  
        4. South Korea                     
        5. South East Asia                
        6. Australia & NZ                  
        7. Rest of Asia-Pacific                        
    5. Latin America                                                      
      1. By Country                                         
        1. Brazil                   
        2. Argentina                         
        3. Mexico                
        4. Rest of Latin America                   
    6. Middle East and Africa                                                     
      1. By Country                                         
        1. Middle East                      
        2. Africa                  
  8. Key Player Analysis                                                             
    1. Daqri
      1. Business Description                                      
      2. Products/Service                              
      3. Financials                             
      4. SWOT Analysis                                  
      5. Recent Developments                                    
      6. Analyst Overview                              
    2. Firsthand Technology, Inc.
    3. Osso VR
    4. Atheer, Inc.
    5. Samsung Electronics Co. Ltd.
    6. EchoPixel, Inc.
    7. Oculus VR
    8. Surgical Theater, Inc.
    9. Microsoft Corporation
    10. HTC Corporation
    11. Atheer, Inc.
    12. Medical Realities Ltd.
    13. Augmedix
    14. Psious
    15. Start-Up Ecosystem
    16. Widerun
  9. Market Outlook & Investment Opportunities                                                          
  10. Appendix                                               
    1. List of Tables
    2. List of Figures
  • Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
  • Segment-level analysis in terms of component, application and end-user along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.

Mixed Reality in Healthcare Market

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