MEA AR & VR in Healthcare Market

MEA AR & VR in Healthcare Market Size (2022 to 2027)

The Middle East and Africa Augmented Reality (AR) and Virtual Reality (VR) market in the healthcare market is estimated to showcase a healthy CAGR from 2022 to 2027.

Many of the current trends in healthcare are driving the use of VR / AR technologies. Many of these trends come from both the patient and the physician, such as the increasing use of technology, the growing popularity of health and wellness and big data, and treating patients with personalized care and preventive care. Macro economically, the aging population, the rise of chronic diseases, and emerging markets are some of the key drivers accelerating the market growth.

The market is primarily driven by surgical simulation, diagnostic imaging, patient care management, rehabilitation, and health management applications. In addition, the increase in the number of startups has caused an increase in demand for investments to fund the growth of AR and VR technologies, so the market will experience an increase in private investments from various investors, which is expected to drive the growth of the MEA AR and VR in the healthcare market.

The increase in the number of startups has resulted in increased demand for investments to finance AR and VR technologies. The market is seeing increased private investment from various investors, which is expected to stimulate growth further. For example, MindMaze, a Swiss-based startup, is a well-funded company that has raised $ 150 million from the Hinduja Group to develop virtual reality hardware and software. In addition, increased government funding and support initiatives are expected to stimulate growth. Increased efforts to improve the training experience of surgeons will benefit the market growth in the near future. The increase in private investment from various investors creates several opportunities in the MEA AR and VR healthcare market.

One of the major limiting factors in the MEA AR and VR healthcare market is the inexperience of physicians in adopting new technologies.

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

Since the arrival of COVID-19, more people have sought physical and psychological medical help, as hospitals seek to compensate for staff shortages and restrictions on movement. Augmented reality in healthcare has emerged as a viable solution to both of these issues. As a growing number of healthcare facilities turn to augmented reality development companies to create personalized AR solutions, the MEA AR & VR in the healthcare market is expected to generate positive growth.

This research report on the MEA 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:

• KSA
• UAE
• Israel
• rest of GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

In the MEA market, the Middle East had the highest market share in 2020. This is due to the presence of many health centers, adequate insurance facilities, investments in healthcare, and more research and development facilities are the main reasons for the growth of this market. For instance, in 2020, a collaboration agreement was done by the Gulf Development Organization and Ascent for the healthcare development and management programs.

UAE and Saudi Arabia are expected to continue to dominate, despite slight growth in the MEA market and a significant decline in the African market.

The increasing use of virtual reality in healthcare for the treatment of various disorders, pain management, and specific types of phobia is driving the adoption rate among healthcare providers based in emerging economies. Besides, the entry of various AR & VR startups is another important reason for boosting the market of developed regions such as Qatar and UAE. The Middle East and Africa are still at a nascent stage of developing these technologies due to a lack of awareness and low adoption by the population. Countries like Israel and UAE are experiencing an increase in spending on healthcare and the quality of healthcare services, which is expected to drive the market growth in the region during the forecast period.

KEY MARKET PLAYERS:

A few of the prominent companies operating in the MEA 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.