Augmented Reality (AR) in Healthcare - Thematic Research

Augmented Reality (AR) in Healthcare - Thematic Research

Summary

AR will support process improvement in healthcare

Artificial intelligence (AI) and data analytics are ‘must-have’ technologies for healthcare companies. While augmented reality (AR) is not expected to be a key priority, it will provide value to companies who invest in it astutely. Rather than enable entirely new processes, companies should look to AR to improve existing processes.

Broadly, AR is useful in processes that are limited by poor information flow—that is, when there is too much information or communicating information is practically or intellectually difficult. AR can remove this barrier by delivering the information more intuitively and comprehensibly in these processes. AR has uses in healthcare professional training, R&D, manufacturing, and sales and marketing.

Lack of use cases is preventing widespread use of AR

In general, AR adoption in the healthcare industry, which includes pharmaceutical companies, medical devices companies, and healthcare providers, has been inhibited by a lack of both understanding and use cases. Compared to AR, these sectors are more familiar with the applications of virtual reality (VR). AR has the most promise and use cases in supporting healthcare providers, particularly in surgical assistance and professional training. For pharma and medical devices, AR has been mainly used in niche applications within manufacturing and sales and marketing.

That said, professionals are more familiar with and open to the technology after the COVID-19 pandemic forced them to use new technologies, including AR, to ensure business continuity.

AR will generate $152 billion in revenue by 2030

Worth nearly $7 billion in 2020, the global AR market will reach $152 billion by 2030, growing at a compound annual growth rate (CAGR) of 36% over the 10-year period, according to GlobalData forecasts.

Scope

• Key players in the augmented reality in healthcare space: leading AR vendors, specialist AR vendors in healthcare, leading AR adopters in healthcare.
• Value chain including a definition of augmented reality and the different relevant technologies and processes, including semiconductors, components, devices, platforms, and apps and content.
• Key challenges the healthcare industry faces and explanations of how augmented reality can help. Challenges include manufacturing, marketing and sales, R&D, improving surgery safety, medical training for students and doctors, and improving patient safety
• Detailed analysis of augmented reality activity in healthcare using various data sets, including deals, hiring, company filings, and social media.
• Profiles of private and public companies in the space.

• See who the leading players are in augmented reality
• See how the competitive landscape is evolving, with a review of company activity including mergers and acquisitions (M&A), strategic partnerships and funding deals, as well as a jobs analysis.
• Understand what augmented reality is and what it can do.