By the year 2016, the hardware segment holds the majority of the revenue that shares 67.9%. However, the service segment is expected to emerge as the fastest growing segment at the time of forecast period with the lucrative CAGR of 29.4%. Head-mounted displays are gaining much more important because of their applications in video recording, education, simulation, tele-monitoring, etc.

                                                                            AR & VR - By Component

• Technology insight

In the year 2016, AR & VR technology was the dominating technology. It has the wide range of applications and has brought the significant changes to the healthcare industry. This also provides the assistance in surgeries which helps in the field of medical training. In addition to all this, this technology also plays an important part in fitness management. Over the coming years, VR may witness rapid growth and is projected to grow with the CAGR of 30.3%.

Objectives of AR & VR in Healthcare Industry

Below are several objectives of augmented reality (AR) and virtual reality (VR) in the healthcare industry according to the survey of Indian leading markets study as follows:

• It helps to develop, describe, forecast the healthcare industry in both the technologies, in terms of value, end user, geography, application, etc.
• To forecast the size of the market for various segments in regards to four main regions: Europe, Asia, North America, and Rest of the world.
• To offer information in the detail regarding the prominent factors which influence the growth of the augmented reality in the market.
• To analyze in a strategic manner about the micro markets for individual growth, prospects, and contribution to the market.
• The benefits of virtual reality and augmented reality in healthcare industry analysis the market roadmaps to study the evolution and timeline of these technologies in every hospital.

Product Demos of AR & VR

Some of the pharmaceutical organizations are completely into drugs and their development. What could be more promising than who is using VR to develop the application which enables the patients to see how drugs and other metabolism activities affect their body? Below are some of the product demos described for each segment that helps you to understand this better:

• For Surgeons

The suitable environment which can help with the practices in hand-on-way is the AR & VR application for both the purposes i.e. training and educational. The AR & VR system helps the doctors and the also assist the surgeons in planning upcoming operations and educate the patients well about their disease. This platform delivers the highly realistic results which are hand-based interactions in an immersive training environment.

• For Patients

For example, there is a patient who has a bone fracture or a blood clot, and then these technologies can be used to demystify medicine. Both of these tools will allow the patients to have a look on their clotted blood or a fractured bone, while the doctor is explaining to them about what the problem is and how can it be corrected. We can also use both of these applications to provide the diagnosis and patient education.

• For Rehabilitation

These technologies also help in post-traumatic stress disorder, rehabilitation, pain management and drug efficacy. Patients with the phobias can also be treated well in AR & VR environment which helps to overcome their phobia. It can also be applied to pain management system that helps in reducing the pain by acting on the psychological component of the pain experience.

Conclusion

In today’s competitive market, to offer something important and unique is incomparable in every industry sector. AR & VR plays a key role in allowing people to live and experience a particular destination directly from the experimental hub. The growing demand for both of these technologies will help marketers to create new opportunities for the vendors in the leading markets.