According to a new report demand for Augmented and Virtual Reality tech in healthcare is expected to reach $4.9 billion by 2023.
That’s up from $769 million this year and represents a CAGR of 36.6% over the forecast period, according to research outfit Markets and Markets.
The increasing penetration of connected devices in the healthcare sector, increased investment in AR and VR healthcare, and the growing need to reduce the healthcare costs are cited as the major drivers for the expected growth.
Major use cases of AR and VR head-mounted displays in healthcare include pre-hospital medical care, nursing care in clinical environments, and medical treatment in hospitals.
HMDs with respect to out-of-hospital-care and emergency medical services can be used to help casualties in mass accidents and disaster medicine. HMDs are expected to grow at a high rate in virtual reality in healthcare market owing to its widespread adoption in the healthcare industry.
Also, the use of AR smart glasses is expected to grow at a high rate to boost the augmented reality in healthcare market.