Healthcare Extended Reality Market

Market Overview:

The global healthcare extended reality market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.1 Billion by 2028, exhibiting a growth rate (CAGR) of 28.64% during 2023-2028. 

Extended reality (XR) in healthcare refers to a combination of technologies, such as virtual reality (VR), augmented reality (AR), and mixed reality (MR), which together produce an immersive experience for medical applications. It delivers real-time experiences with a blend of audio, visual, and physical elements, creating more personalized and better contextual experiences. As a result, XR is widely utilized in the healthcare industry for numerous applications, including medical research and drug discovery, surgical training for students, advanced therapy and rehabilitation for chronic illnesses, enhanced efficiency of pharmaceutical manufacturing, etc.

Healthcare Extended Reality Market Trends:

The elevating levels of digitalization coupled with the rising technological advancements in the healthcare industry are primarily driving the global healthcare extended reality market. Moreover, the escalating utilization of XR for enhancing patient care, including gamifying physical therapy sessions to speed up recovery and integrating immersive scenarios to improve outcomes in mental health patients, is also fueling the market growth. Besides this, the growing need for XR in surgical virtualization to create digital models for planning operations and evaluating possible scenarios is further bolstering the global market. Additionally, the rising demand for extended reality in medical training for providing interactive learning experiences, such as a layer-by-layer study of human anatomy that offers more profound insight into nuances of body functions, is creating a positive outlook for the market. Apart from this, the emerging popularity of XR in telemedicine to decentralize specialized care, including neurology, dermatology, pediatrics, etc., enabling a shift from large setting services to more cost-effective locales, is also propelling the market growth. Moreover, the emergence of time-critical capabilities in 5G networks, which make it possible to offload parts of the XR processing and functionality to enhance the user experience, is anticipated to stimulate the global healthcare extended reality market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare extended reality market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, technology, application and end user.

Breakup by Component:

• Hardware
• Software
• Services
   

Breakup by Technology:

• Augmented Reality
• Virtual Reality
• Mixed Reality
   

Breakup by Application:

• Surgery
• Therapy
• Education and Training
• Rehabilitation
• Pain Management
• Others
   

Breakup by End User:

• Hospitals, Clinics and Surgical Centers
• Pharma Companies
• Research Organization and Diagnostics Laboratories
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being.

Report Coverage: