Healthcare Extended Reality Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Healthcare Extended Reality Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A6375
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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:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Component, Technology, Application, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global healthcare extended reality market was valued at US$ 4.5 Billion in 2022.

We expect the global healthcare extended reality market to exhibit a CAGR of 28.64% during 2023-2028.

The growing utilization of extended reality in healthcare for enhancing patient care, such as gamifying physical therapy sessions to speed up recovery and integrating immersive scenarios to improve outcomes in mental health patients, is primarily driving the global healthcare extended reality market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of healthcare extended reality to decentralize specialized care, owing to the escalating consumer inclination towards telemedicine services, during the lockdown scenario.

Based on the technology, the global healthcare extended reality market has been segregated into augmented reality, virtual reality, and mixed reality. Among these, augmented reality currently exhibits a clear dominance in the market.

Based on the end user, the global healthcare extended reality market can be bifurcated into hospitals, clinics and surgical centers, pharma companies, research organization and diagnostics laboratories, and others. Currently, hospitals, clinics and surgical centers hold the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

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Healthcare Extended Reality Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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