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What is the Anticipated CAGR of the Mixed Reality in Healthcare Market, and What Factors Will Drive It?

The market size for mixed reality in healthcare has experienced significant expansion in the past few years. It is anticipated to surge from $0.71 billion in 2024, reaching $1.08 billion the following year, showcasing a compound annual growth rate (CAGR) of a whopping 51.3%. This considerable growth during the historical period can be associated with advancements in medical training, patient education, along with rehabilitation and physical therapy, chronic disease management, and a decrease in radiation exposure.

In the next few years, anticipation is high for a tremendous expansion in the market size of mixed reality in healthcare, with a prospective valuation of $7.28 billion by 2029 and a compound annual growth rate (CAGR) of 61.2%. This surge in the projection period could be linked to international health initiatives, regulation systems, holographic telemedicine, workflow improvements, and long-distance consultations. Forecast period trends that stand out include the integration of artificial intelligence, virtual clinical trials, mixed reality wearable tech, enhancement of pre-operative planning, and instantaneous language translation.

What External and Internal Drivers Are Contributing to the Growth of the mixed reality in healthcare Market’s Growth?

The anticipated upsurge in the elderly populace is set to fuel the expansion of the mixed reality in healthcare industry going forward. This category pertains to those who are over 65. This demographic is susceptible to numerous diseases that necessitate surgical intervention. Implementing mixed reality in surgical procedures empowers surgeons to concurrently view a patient’s physical structure and their MRI and CT scan details. For instance, America’s Health Rankings, a U.S. organization that assesses health outcomes, divulged that over 56 million people who are 65 and older reside in the United States, comprising approximately 16.9% of the entire populace. By the time the last baby boomer turns elderly in 2030, the older population is projected to surpass 73.1 million. Hence, the escalating older populace is fueling the expansion of the mixed reality in healthcare sector.

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Who Are the Top Companies Contributing to the Growth of the Mixed Reality in Healthcare Market?

Major companies operating in the mixed reality in healthcare market include:

• Atheer Inc.

• Daqri Ltd.

• EchoPixel Inc.

• Firsthand Technology Inc.

• Microsoft Corporation

How Are Technological Trends Affecting the Growth and Development of the Mixed Reality in Healthcare Market?

The growth in tech innovations is a prominent trend observed in the mixed reality in healthcare market. Big players in this space are investing in cutting-edge technologies to fortify their market presence. For instance, Apollo Hospitals Group from India partnered with 8chili Inc. in February 2022 to enable interaction in the metaverse. This initiative includes virtual reality patient consultation before and after surgical procedures. This method will heighten patient results by presenting ordinary environments with comforting storylines, thus allowing patients to have better control over their body and physiological responses. Virtual reality-based activities will heighten their emotional control capacity. This personalized viewpoint to each patient will inevitably give a boost to patient gratification. 8chili Inc., a US-based deep tech company, is at the forefront of designing the fundamental infrastructure required for producing and distributing content for the metaverse.

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Which Key Segments Define the Structure of the Mixed Reality in Healthcare Market and Their Growth Potential?

The mixed reality in healthcare market covered in this report is segmented –

1) By Device Types: AR Devices, VR Devices

2) By Component: Hardware, Software, Content and Application

3) By Application: Surgery and Surgery Simulation, Patient Care Management, Fitness Management, Medical Training and Education, Other Applications

4) By End-Users: Hospital, Surgical Centers and Medical Institutes, Other End Users

Subsegments:

1) By AR Devices: Smart Glasses, Head-Mounted Displays (HMDs), Mobile AR Applications, Projection-based AR Systems

2) By VR Devices: Head-Mounted Displays (HMDs), VR Software Platforms, Motion Tracking Devices, Controllers And Input Devices

What Are the Key Regions Powering Growth in the Mixed Reality in Healthcare Market?

North America was the largest region in the mixed reality in healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mixed reality in healthcare market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Are the Defining Features of the Mixed Reality in Healthcare Market?

Mixed reality in healthcare refers to a combination of augmented and virtual reality to experience a real-life environment using digital tools in the medical field to accelerate diagnoses, improve access to healthcare, reduce infection transmission, educate, and enhance outcomes.

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