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Mixed Reality in Healthcare Market Global Opportunity Analysis and Industry Forecast 2020-2027

A11440
Pages: NA
Aug 2021 | 16 Views
 
Author(s) : Onkar Sumant
Tables: NA
Charts: NA
 

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Mixed reality is referred to as the combination of both virtual reality and the augmented reality by blending the real- life environment with digital elements. It defines the polar ends of a spectrum, which is particularly a virtual spectrum or the mixed spectrum. This technology is a new and emerging technology that has an enormous potential in healthcare. It is on its way of managing the force in the field of healthcare having the various applications ranging from reducing the use of the cadavers in medical student training to post-traumatic stress disorder engagement therapy for patients and pre-operative visualization of brain tumors by reviewing scans in person using the augmented reality. It has been implemented in the healthcare industry in improving the operational environment. Mixed reality technologies use the augmented reality technologies in order to move the static images to improve an actual experience and then the virtual reality technologies engage the observer in a simulated 3D environment. The combination of the IT solutions in healthcare sector made the transformational changes in the perception of the patient’s treatment and services that are provided by the healthcare providers. Mixed reality has made it possible for the surgeons to perform an operation or surgery of the patient from distant places. In this process, the nurses perform hundreds of operations by looking for the surgeon touching the patient virtually.

       Market scope and structure analysis:

Report Metric

Details

  Market size available for years

2019–2027

  Base year considered

2019

  Forecast period

2020–2027

  Forecast units

Value (USD)

  Segments covered

Component, Application, End user, Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include Atheer, Inc., Daqri, EchoPixel, Inc., Firsthand Technology, HTC corporation, Microsoft corporation, Oculus, Osso VR, Samsung Electronics Co., Ltd., Surgical Theater, Others.


COVID-19 Scenario Analysis:

With the outbreak of COVID-19 globally and the stipulated lockout, there is an ongoing downturn in the healthcare market. Aside from communities, COVID-19 was equally disastrous for major world economies, especially the healthcare sector. Prominent stakeholders are continuing to adapt their strategy to the rapidly changing situation. COVID-19 is projected to have significant long-term impacts on the healthcare industry. Countries and major players would have to undertake critical healthcare changes until the crisis takes a back seat.

 Technological progress, cost containment and increased access in the near future are expected to be an integral part of healthcare reforms. Digital health and telehealth have taken a front seat in the ongoing outbreak. COVID-19 re-emphasized the importance of remote diagnosis, care and consultation. Over the past few years, regulatory and behavioral barriers have slowed Telehealth growth. However, since many healthcare providers are currently working on video conferencing and telephone calls, this segment's growth will increase several folds over the next two years. The social distancing measures also mandated online consultation of patients with moderate symptoms. In addition, it greatly reduces the burden on hospitals already swamped by counts of COVID-19 patients. Medical IoT devices that are present at home with patients are now being used for optimizing outpatient treatment and minimizing repeat visits, and these devices can be further used in a crisis situation. The pandemic led to severe resource constraints. This is expected to result in the development of competitive pricing and value-based pricing models, which will accelerate the market growth in future. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers, Impact Analysis

Increase in the prevalence of the neurological and psychological disorders across the world with simultaneous increase in the number of patients of the same and  increase in the demand for digitalization of healthcare sector are expected to fuel the growth of the market.. Moreover, increase in awareness regarding the utilization of mixed reality technology in surgical and other process and also the rise in the adoption of the mixed reality in medical training processes help in the increase in the growth of the market. Furthermore, rise in the number of research activities and the study related to the application of the mixed reality in certain medical conditions like pain management and mental health is further driving the growth of the market. The technological advancements in the mixed reality sector which are helpful in the increasing the efficiency of the surgical procedures also help to boost the growth of the mixed reality in healthcare market.

However, the high cost of the investments, technological issues in the process, and the lack of awareness regarding the mixed reality technologies are expected to hamper the growth of the mixed reality in healthcare market.

New product launches to flourish the market:

In January 2017, the launch of CAE VimedixAR an ultrasound training simulator, integrated with Microsoft HoloLens was announced by the CAE Healthcare (CAE Inc.).

In October 2018, the FDA 510(k) clearance for the Augmented Reality System – OpenSight Augmented Reality System was received to the Novarad AR System.

Surge in the usage of the mixed reality technology products:

The increase in the prevalence of the neurological and psychological disorders across the world and increase in the awareness of the utilization of the mixed reality technology in the surgical procedures can help to surge the usage of the mixed reality technology products.

        Key segments covered:

Segments

Sub-segments

  Component

  • Hardware
  • Software
  • Content and Application
  • Others

  Application

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

  End user

  • Hospital
  • Surgical centers and Medical Institutes
  • Others

  Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa


          Key benefits of the report:

  • This study presents the analytical depiction of the global mixed reality in healthcare industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global mixed reality in healthcare market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global mixed reality in healthcare market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the mixed reality in healthcare market.
  • The report provides a detailed global mixed reality in healthcare market analysis based on competitive intensity and how the competition will take shape in coming years.

          Questions answered in the mixed reality in healthcare market research report:

  • What are the leading market players active in the mixed reality in healthcare market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the mixed reality in healthcare market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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