Intelligent Market Insights

Mixed reality is a combination of both virtual reality (VR) and augmented reality (AR) by blending the real-life environment with digital elements. This is an emerging technology that has an enormous potential in the healthcare industry. Mixed reality continue to be a manageable force in the field of healthcare with various applications ranging from reducing the use of cadavers in medical student training to post-traumatic stress disorder (PTSD) engagement therapy for patients and pre-operative visualization of brain tumors by reviewing scans in-person using AR.

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The implementation of mixed reality (MR) technologies in healthcare industry has improved the operational environment. MR technology uses AR for moving static images to improve an actual experience and VR engages the observer in a simulated 3D environment. Combination of IT solutions in healthcare field has brought transformational changes in the perception of patients’ treatment and services provided by healthcare providers.

Mixed Reality in Healthcare Market - Market Dynamics

Growing demand for digitalization in healthcare sector is a major factor contributing to significant growth of mixed reality in healthcare market. Moreover, the market is expected to witness positive growth with rising prevalence of neurological & psychological disorders across the world. According to National Alliance on Mental Illness (NAMI) around 43.8 million, that is nearly 18.5% of the total adult population of the U.S., experienced mental illness in 2015, which is 1 in 5 adults in U.S. In addition, over 42 million American adults were suffering from anxiety disorders in 2015.  

Moreover, rising awareness for use of MR technology in the applications of patient care management has supported growth of the market. For instance, the Autism Glass Project at Stanford University are developing a wearable behavioral aid that improves the verbal and non-verbal communication among patients. Autism glass application uses Google Glasses to identify facial expressions and give social indications that is linked to facial expressions.

Mixed Reality in Healthcare Market - Competitive Landscape

Key players operating in the mixed reality in healthcare market include Atheer, Augmedix, Daqri, Echopixel, Firsthand Technology, Medical Realities, Microsoft, Mindmaze, Oculus VR, Orca Health, Osso VR, Osterhout Design Group, Psious, Samsung Electronics, Start-Up Ecosystem, Surgical Theatre, and Widerun.

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Mixed Reality in Healthcare Market - Market Taxonomy

On the basis of components the global mixed reality in healthcare market is segmented into

• Hardware Components

  • Sensors

  • Semiconductor Components

  • Displays and Projectors

  • Position Tracker

• Software Components

  • Software Development Kits

  • Cloud-based Services

On the basis of device types, the global mixed reality in healthcare market is segmented into

• AR Devices

  • Head-Mounted Display (HMD)

  • Handheld Devices

• VR Devices

  • Head-Mounted Display (HMD)

  • Gesture Tracking devices

  • Projectors & Display Walls

On the basis of application, the global mixed reality in healthcare market is segmented into

• Surgery

• Patient Care Management

• Pharmacy Management

• Fitness Management

• Medical Training & Education

On the basis of end users, the global mixed reality in healthcare market is segmented into

• Hospitals & Surgical Centers

• Government & Defense Institutions

• Research Organizations

Mixed Reality in Healthcare Market - Regional Insights

On the basis of geography, mixed reality in healthcare market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the mixed reality in healthcare market during the forecast period. The U.S. dominates the market in this region due to continuous technological advancements, and well developed healthcare infrastructure. Moreover, high adoption rate of technologically advanced products has fuelled growth of the market in this region. 

Asia Pacific is expected to witness significant growth in the market during the forecast period, owing to rapid economic development and improvement of healthcare infrastructure along with rising disposable income of the people in the region. Moreover, increasing R&D and growing recognition of newer technologies in this region has driven growth for the mixed reality in healthcare market.

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