APAC AR & VR in Healthcare Market

APAC AR & VR in Healthcare Market Size (2023 to 2028)

The APAC Augmented Reality (AR) and Virtual Reality (VR) market in the healthcare market is projected to grow at a staggering CAGR of 35.9% during the forecast period.

The growing awareness of people in the use of the internet is also expected to contribute to the growth of the augmented reality and virtual reality healthcare market in the APAC region. For example, the total number of people using the Internet increased from 8.5% of the total population in 2010 to 69% in 2018. Additionally, supported by the growing demand for high-speed Internet among individuals, organizations that operate in telecommunications are increasingly working on implementing 5G network technology because this technology allows access to the Internet at a very high speed. By 2025, it is estimated that up to 1.5 billion total internet connections will represent 5G. In addition, a third of the world is expected to be covered by 5G connectivity by the end of 2035.

The rapid development of the healthcare industry and the increasing adoption of technologically advanced products and devices are important factors driving the growth of APAC AR and VR in the healthcare market. In addition, the increasing penetration of the Internet of Things (IoT) and increasing adoption of connected devices are other factors driving the market's growth. Besides, the use of augmented and virtual reality for medical education and learning by various institutions and universities is another factor that further drives the market's growth.

The high cost of products and devices is a major factor limiting the APAC AR and VR in the healthcare market. Besides, lack of skilled professionals, data security, and privacy concerns are other factors expected to hamper the market's growth to some extent during the forecast period.

Impact of COVID-19 on the APAC AR & VR in Healthcare Market:

COVID-19 and the resulting blockage add stress and anxiety, making people with chronic pain even more vulnerable. As a result, several medical clinics are turning to virtual and augmented reality in healthcare to support pain management. Additionally, due to travel limitations, senior surgeons cannot always help and advise their junior colleagues. Augmented reality-assisted telesurgery appears to be a viable option under these circumstances, thus having a positive growth factor in the market.

This research report on the APAC AR & VR in the healthcare market has been segmented and sub-segmented into the following categories.

By Component:

• Hardware
• Software
• Services

By Technology:

• Augmented Reality
  • Surgical Application
  • Rehabilitation
  • Training & Medical Education
• Virtual Reality
  • Simulation
  • Diagnostics
  • Virtual Reality Exposure Therapy (VRET)
  • Rehabilitation
  • Pain Distraction

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the Chinese AR & VR in the healthcare market accounts for the largest APAC AR and VR share in the healthcare market during the forecast period. It has dominated the AR and VR market due to the increased adoption of advanced technologies and sophisticated infrastructure. At the same time, other Asian countries such as South Korea, Japan, Taiwan, and India are projected to have a higher CAGR during the forecast period. Asia-Pacific contributes a 35% growth rate to the AR and VR healthcare market. In 2019, the United States and China will lead VR / AR spending with $ 6.9 billion and $ 6.2 billion, respectively, followed by Japan ($ 1.79 billion) and Japan. The healthcare, manufacturing, and entertainment sectors are expected to drive adoption in India by 2020, with the market expected to reach $ 2 billion by 2025.

APAC region is witnessing significant changes associated with the adoption of new technologies and advancements. The region is also seeing increasing adoption of the latest technologies due to the majority of electronics and display panel manufacturers in the region. Uses in Fitness training & management, patient care management, and management of pharmacies are expected to contribute significantly to the growth of AR & VR in the healthcare market in APAC. These applications offer huge potential for the growth of AR & VR among healthcare market players due to the growing awareness of healthcare providers and the increasing adoption of new technologies in various industries, especially in countries like Japan, China, India, and South Korea.

KEY MARKET PLAYERS:

A few of the noteworthy companies operating in the APAC AR & VR in healthcare market profiled in this report are Google, DAQRI, Microsoft, AppliedVR, Mindmaze, Oculus VR, HTC Corporation, Firsthand Technology, Psious, Atheer, Medical Realities, Hologic, Inc, Augmedix, 3D Systems, Alphabet, Inc, SAMSUNG, Orca Health LLC, and CAE HEALTHCARE.