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How COVID-19 impact on Augmented Reality in Healthcare Market and its Porter’s Five Forces Analysis

Porter’s Five Forces for Augmented Reality in Healthcare Market

  • Bargaining Power of supplier: Leading suppliers of the AR in healthcare market use negotiating power to gain higher prices. In addition, the higher switching cost and the   lower concentration of suppliers of this market provides high bargaing power to the suppliers. The bargaining power of suppliers is HIGH.
  • Bargaining Power of Buyer:Manufacturers of this market are less.Moreover, increasing demand for AR services in healthcare from customer base, rising technological evolutions and advancements in products and services gives more negotiation powers to the established companies.Thus, the bargaining power of buyers is LOW.
  • Threat of substitute:There is no alternative for AR in healthcare. So it is very low risk is provided from the substitute of this market. So, the threat of substitutes in this market is VERY LOW.
  • Threat of new entrants:The higher cost associated with R&D and higher initial investment are obstructing to emerging companies of this market.However, many startups are foucusing highly on product innovation. For instance, Proximie is offering integrated application, which has ability to pair with most computers, smartphones or tablets with cameras to connect with surgeons. So, the threat of new entrants in this market is MEDIUM.
  • Competitive rivalry:There is an extreme level of competition in the global healthcare industry, propelling organizations to aim in order to maintain the current buyers through offering services at reasonable prices. Market leaders are following multiple product/service development strategies such as enhancement in diagnosis, advanced augmented surgeries, and many others. So, the competitive rivalry in this market is MEDIUM.

The future of Augmented Reality in Healthcare Market 2026

Check out How COVID-19 impact on Augmented Reality (AR) In Healthcare Market @ https://www.researchdive.com/connect-to-analyst/48

According to a study of Research Dive, augmented reality in healthcare market forecast shall surpass $1,565.6 million by 2026, registering a CAGR of 21.9% from 2019 to 2026. The Asia-Pacific AR market for healthcare should grow $349 Million by 2026 at a compound annual growth rate (CAGR) of 21.1% from 2019 to 2026.

Augmented Reality (AR) In Healthcare Market Segmentation by Component

  • Displays
  • Sensors
  • Input Devices
  • Semiconductors components

Augmented reality (AR) is an interactive experience, which provide platform to integrate data visualization into diagnostic and treatment processes for more work efficiency of physician. Augmented reality (AR) is more easy to access coupled with many healthcare businesses are preferring its use as significant tool for the healthcare professional’s (HCP) communication.

Check out How Enhancement in the surgeon’s ability to diagnose and perform surgery can boost to the growth of Augmented Reality in Healthcare Market @ https://www.researchdive.com/download-sample/48

Augmented Reality (AR) In Healthcare Market Segmentation by Technology

  • Wearable
  • Vision-Based
  • Spatial
  • Mobile Device-Based

The global augmented reality in healthcare market will be majorly driven by increasing focus to reduce the workload of professionals working in the healthcare sector, coupled with strict regulations about various clinical trials and laboratory tests. Technology costs, along with rising threats concerning data security might restrain the growth of augmented reality in healthcare market over the anticipated period. On the other hand, AR technology provides benefits in many areas of care management such as cancer therapy, depression therapy, assisted living.

North America AR in healthcare market size is dominant and it will reach $664.9 million by the end of 2026, growing at 21.3% CAGR throughout the projected period.

Augmented Reality for Healthcare Market for displays component is projected to hold a dominant share, owing to the recent innovations

Displays Component segment for AR in healthcare market forecast will be $334.5 million by the year 2026, increasing from $61.0 million in 2018, growing at a CAGR of over 23.7% throughout the projected period. It majorly due to the rising need for healthcare output devices like head-mounted displays.

Click to know How Mobile-device based technology segment is will a generate revenue of $409.7 Mn by the year of 2026 @ https://www.researchdive.com/purchase-enquiry/48

Augmented Reality (AR) In Healthcare Market by End-Use

  • Research Laboratories
  • Healthcare Facilities

The global augmented reality in healthcare market for mobile device based segment will generate revenue of 409.7 million by the end of year 2026, growing at a CAGR of over 22.6% throughout the projected period. Based on the of application, global AR in healthcare market is fragmented into Mobile Device-Based, Vision-Based, Wearable and Spatial. Tablets and smartphones play the significant role in this technology, as these devices are inbuilt with Global positioning system (GPS) and compass for the purpose of route navigation.

North America region will dominate the global market during the projected period, owing to the rising demand for consumer devices

North America AR in healthcare market size is dominant and it will reach $664.9 million by the end of 2026, growing at 21.3% CAGR throughout the projected period. It is majorly due to the adoption of technological advancements in augmented reality in healthcare industry.

Asia-Pacific’s AR in healthcare market size will grow at 22.1% CAGR, and will register revenue of $ 349.0 million by the end of 2026. The Asia-Pacific market is predicted to be the rapid growing region for Augmented reality technology in healthcare market. Lack of proper healthcare facilities along with growing demand for AR from healthcare professionals anticipated to drive the augmented reality in healthcare market growth of Asia-Pacific region.

Get Access to Full Report (TOC, Figures, Chart, etc.) @ https://www.researchdive.com/48/augmented-reality-ar-in-healthcare-market

Key Players

  • Mindmaze
  • Medical Realities
  • Wikitude GmbH
  • CAE Healthcare
  • 3D Systems
  • Siemens Healthineers
  • CAE Healthcare
  • 3D Systems
  • Siemens Healthineers
  • VirtaMed
  • Magic Leap

Some key players in the global augmented reality in the healthcare market include Google LLC., DAQRI, Mindmaze, Microsoft Corporation, Wikitude GmbH, Medical Realities, CAE Healthcare, Oculus VR, Atheer, Augmedix, Philips Healthcare, 3D Systems, Blippar, VirtaMed, Siemens Healthineers, Magic Leap, Inc., Virtually Better, and Osterhout Design Group among several others. Players using updated technologies for AR of healthcare will have good probability of having success in the rapidly blooming market. For instance, NuEyes tied-up with a U.S. major national insurance carrier, making smart glasses used for AR reality which are more affordable.

About Us:
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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