According to the research report titled ‘Augmented and Virtual Reality in Healthcare Market Size By Technology (Augmented Reality, Virtual Reality), By Component (Hardware, Software, Services), By Application (Surgery, Training & Education, Behavioral Therapy, Medical Imaging) By End-use (Hospitals, Clinics, Academic Institute), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, worldwide augmented and virtual reality in healthcare market is anticipated to grow significantly through 2027.
 

Extensive technological adoption in healthcare vertical is the major growth catalyst for augmented and virtual reality in healthcare market.
 

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In recent years, augmented reality (AR) and virtual reality (VR) technologies have risen to prominence in the medical profession, mostly due to considerable research efforts, providing improved procedural efficiency in medical processes. Innovative launches and other strategic undertakings by major players are poised to add to market remuneration in the coming years.
 

Based on component, the hardware segment held 54.2% market share in 2020 and is anticipated to amass notable returns by the end of 2027.
 

In terms of technology, the virtual reality segment was worth USD 466.9 billion in 2020 and is predicted to grow at a significant pace during 2021-2027.
 

On the basis of application ambit, the behavioral therapy segment of augmented and virtual reality in healthcare industry holds significant revenue shares and is projected to showcase a CAGR of 35.6% during the analysis period.
 

From the end-use spectrum, the clinics/dentist segment held a substantial share in 2020 and is likely to surpass a valuation of USD 3.5 billion by 2027.
 

Considering the regional landscape, Latin America market held 4% revenue share in 2020 and is expected to garner profitable returns by the end of 2027. Whereas, Middle East & Asia market is slated to showcase a steady growth at 28.1% CAGR over the assessment period.
 

The key players in augmented and virtual reality in healthcare market are Surgical Theater, Inc., Psious, MindMaze, Medical Augmented Intelligence, Inc., Karuna Labs, Inc., Intuitive Surgical, Inc., Hologic, Inc, FundamentalVR, Augmedix, and Augmedics, Inc.