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Augmented Reality Market Analysis, Growth rate, Global Trends, Price and Forecasts to 2031

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Augmented Reality (AR) in healthcare has been transforming the medical device and medicine sector at the same time. AR is a concept where the real-life elements after recognizing the environment are augmented by additional visual information. Right from pharmacy benefit management to medical training, AR in healthcare is making a substantial impact on the healthcare business. Apart from saving lives of patients, existing procedures in healthcare organizations can be made more effective and specific with AR. The adoption of AR among healthcare professionals and researchers is increasing significantly and more effectively conduct surgeries and research.

Benefits of Augmented Reality in Lifesciences

As AR develops and becomes more user-friendly and affordable, more life sciences companies are considering its use as an essential tool to educate, communicate, and engage patients and HCPs on innovations that will enhance outcomes.

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To bring new therapies to life, more life sciences companies are using AR by combining physical and virtual worlds. AR helps create interactive, rich experiences that show how medical devices and new drugs interact with the body. Using this disruptive technology, content providers and brand teams can give their field force a better way to engage healthcare professionals (HCPs). With AR, HCPs can be more illustrative when explaining novel treatments to patients.

Whether explaining a treatment method, disease state, or how a new medical device works, AR can significantly improve education on complex topics, enhance customer engagement, and create distinction with more powerful branding.

Recent Developments & Major Players of the Industry

Augmented Reality is already transforming healthcare, and it is changing the way physicians see patients. AR is now majorly being used for doctor and patient education, disease simulation, surgical visualization, and it also helps to save life enhancing treatments for patients. AR is even providing surgeons with 3D overlays to improve the visibility of veins, organs, and diagnosis reports. Additionally, AR plays a crucial role in education and in providing real-time simulation surgeries without the risk of getting it wrong with a live patient.

A Research Dive published report highlights top gaining players operating in the global augmented reality in healthcare market. Some of them are General Cable Technologies Corporation., EV TEISON, SINBON Electronics Co., Ltd., TE Connectivity, Phoenix Contact, BRUGG GROUP AG, Leoni AG, BASEN- Group, Aptiv, Dyden Corporation, and IONITY GmbH. These players are focusing more on advances in technology, and adopting several strategies such as collaborations, product development to stand strong in the global market.

A leader in Augmented Reality (AR) for AR learning applications and eCommerce, NexTech AR Solutions, announced a new partnership with a leading enterprise video platfrom provider, Jolokia. According to Statista, this partnership will develop Nextech’s reach into the L&D market. This collaboration of Jolokia and NexTech AR will offer a compelling video learning experience (LXP), which crosses the boundaries from an interactive video to AR.

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ChristianaCare and Medtronic PLC announced a collaboration in order to improve patient outcomes of ChristianaCare in Delaware and the region surrounding the city. It is a five-year agreement, which focuses on deploying and developing value-based healthcare initiatives to help ChristianaCare in applying the right medical therapies and technologies to patients who may benefit most. The shared financial accountability between Medtronic and ChristianaCare will reduce the cost of care and improve patient outcomes.

Potential Future of Augmented Reality in Healthcare Market

Global market for Augmented Reality (AR) in healthcare market is anticipated to witness a positive growth during the period of forecast from 2019 to 2026. Increasing demand of virtual reality and technological advancements in healthcare is up surging the growth of global AR in healthcare market.

Increasing focus to reduce the workload of healthcare professionals is giving substantial uplift to the growth of global AR in healthcare market in the coming years. As per the Research Dive report statistics, the global AR in healthcare market is expected to grow at 21.9% CAGR by the end of 2026. North America region will dominate the global market during the projected period, owing to the rising demand for consumer devices.

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