Impact of Covid-19 on the Global AR in Healthcare Market
The Covid-19 outbreak has disrupted the supply chain drastically impacting the global trade. In spite of this crisis, AR in healthcare market has sustained its growth due to its importance in the treatment of the pandemic.
The application of augmented reality is going to improve and redefine the healthcare industry. Latest innovations in the realm of augmented reality are designed a smarter way for the doctors and physicists to conduct the diagnoses, treatments, and surgeries. AR also helps the patients by providing them access to their real-time data and patient information faster like never before.
Application of AR in Healthcare
Augmented Reality in the healthcare industry has proved to be beneficial. It has wide-ranging application throughout the industry. Minimally invasive surgery, training and education of the hospital staff, diagnostics, and shrinkage detection are some of the medical spheres AR is applied extensively.
In addition, AR technology is useful in accessing the telemedicine information in a steadfast manner on smartphones or other smart devices. With the help of AR technology, surgeons can easily share super-imposed images or computer generated models with surgeons from distant territories enhancing the efficiency of operation. One such instance is AccuVein Inc. It uses projector like devices to display a view of vasculature on the skin surface.
The Pre-Pandemic Market
The global market of AR in Healthcare has witnessed a significant growth in recent years. The extensive application of AR in the evaluation of surgical arrangements, modestly persistent surgical procedure, rehabilitation, medical training, and management of pharmacy benefits the factors benefitting the market.
In addition, increased importance of AR in B2C healthcare section and increasing investment on surgical treatments were the main factors fueling the market growth in the pre-pandemic period.
Positive Impact of Covid-19 on the Market
Unlike most sectors, the coronavirus outbreak has impacted the AR in healthcare market in a fairly healthy way. The spread of the COVID-19 pandemic across the globe has increased the utilization of AR in healthcare segment because of its beneficial properties. AR technology is being used in big hospitals for improving the awareness about the virus infection and outcomes, and updates.
Moreover, AR technology has benefited healthcare sector in vein visualization process. Many patients got afraid during the time of blood harvesting or injection. In such cases, AR is utilized for finding a vein effortlessly. AccuVein is such an instrument extensively used in healthcare segment that can easily locate the vein on the patient’s body. These factors are actively governing the growth of AR in healthcare market during the pandemic.
The leading players of the industry are opting for various smart strategies to sustain the post-pandemic graph of success.
CableLabs is making a huge amount of investment in the R&D of AR for its further expansion in the healthcare sector.
Lucien Engelen has recently developed an AR-based technology known as AED4EU. This technology helps its users to add various places where Automated External Defibrillators (AED’s) are located. These locations, then, can easily be accessed with the help of this application.
A recent report published by Research Dive has predicted that the global AR in healthcare market will experience a remarkable growth in 2020 and is anticipated to follow the trend until the end of the forecast period. According to the report, the global AR in healthcare market collected a revenue of almost $321.1 million in 2018 and will surpass $1,918.6million by 2026 at a CAGR as high as 25.5%.