Global Surgical AR Market Insights Forecasts to 2033

• The Market Size is Growing at 11.3% CAGR from 2023 to 2033.
• The Worldwide Surgical AR Market Size is Expected to Reach a Significant Share by 2033.
• Europe is Expected to Grow the fastest during the forecast period.

The Global Surgical AR Market Size is Expected to Reach a Significant Share by 2033, Growing at 11.3% CAGR from 2023 to 2033.

Market Overview

The use of computer-generated images, data, text, or other information superimposed over a surgeon's field of view (FOV) during a surgical procedure is known as augmented reality (AR) in surgery. The goal of using augmented reality (AR) technology in this field is to improve the surgeon's perception and comprehension of pertinent data, such as anatomy, medical history, and even real-time vital sign readings of the patient. From gaming to retail, augmented reality is finding widespread use in a variety of businesses, each of which gains something special from the technology. Due to the vast range of surgical applications, including medical training and the assessment of surgical setups, the surgical AR market experienced considerable growth during the Covid-19 pandemic. Furthermore, factors anticipated to fuel the growth of the surgical AR market during the projected period include the rising demand for these systems in the healthcare sectors and the rising cost of surgical treatments.

Report Coverage

This research report categorizes the market for the global surgical AR market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global surgical AR market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global surgical AR market.

Driving Factors

One of the major factors driving the global surgical AR market is surgical AR can significantly reduce the need for further radiation exposure from fluoroscopy and X-rays. Traditional methods often require multiple imaging scans to guide the surgeon, increasing radiation exposure for both the patient and the healthcare team. Conversely, relies on pre-existing imaging data such as CT or MRI scans that might be quickly incorporated into the augmented reality environment. This enables the surgeon to see through the patient's anatomy precisely and does away with the necessity for continuous fluoroscopy or X-rays during the treatment. Therefore, these reasons will increase the need for augmented reality in the healthcare industry and aid in the growth of the global surgical AR market.

Restraining Factors

The future growth of the surgical AR market is expected to be restricted by a lack of advanced digital skills resulting from the intricate methods required to make surgical AR technology accessible. Additionally, factors impeding the growth of the surgical AR market include the high cost of the device and battery backup.

Market Segmentation

The Global Surgical AR Market share is classified into device type and product type.

• The head-mounted display segment is expected to hold the largest share of the global surgical AR market during the forecast period.   

Based on the device type, the global surgical AR market is divided into head-mounted displays, handled devices, and others. Among these, the head-mounted display segment is expected to hold the largest share of the global surgical AR market during the forecast period. This is because of the AR system's cutting-edge technology, which improves the surgical experience.

• The hardware segment is expected to grow at the fastest pace in the global surgical AR market during the forecast period.    

Based on the product type, the global surgical AR market is divided into hardware, software, and others. Among these, the hardware segment is expected to grow at the fastest pace in the global surgical AR market during the forecast period. The demand for hardware items in the surgical AR market has increased as a result of the hardware components' expectations to deliver the greatest benefits.

Regional Segment Analysis of the Global Surgical AR Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global surgical AR market over the predicted timeframe.

North America is anticipated to hold the largest share of the global surgical AR market over the predicted timeframe. The dominance of North America in the global surgical AR market is expected to continue over the forecast period, owing to several key factors. Firstly, the region boasts a strong presence of leading manufacturers of medical equipment, ensuring access to cutting-edge technologies and advanced surgical AR devices. Additionally, heightened public awareness regarding the benefits of surgical AR technology for improved patient outcomes and reduced risks is contributing to its widespread adoption in North America. Furthermore, with rising healthcare costs, particularly for surgical equipment in this region, healthcare facilities are increasingly turning towards innovative solutions like surgical AR to optimize efficiency and reduce expenses. As such, it is anticipated that North America will maintain its significant share of the global market for surgical AR in the coming years.

Europe is expected to grow at the fastest pace in the global surgical AR market during the forecast period. As a result of a greater emphasis on research and development fields that seek to improve surgical operations in tandem with healthcare technology advancements. Due to their lower quality of healthcare, Latin America, the Middle East, and Africa present the least profitable opportunities.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global Surgical AR along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Artoolworks, Inc.
• Intuitive Surgical
• Siemens Health Care
• Augmented Pixels Co.
• Layer B.V
• Firsthand Technology
• Kooaba Ag
• Zugara Inc.
• Vuzix Co.
• CAE Health Care
• Orca Health, Inc.
• Atheer
• Augmedix
• Philips Health care
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2023, the firm Medivis, which aims to establish augmented reality as the standard for surgical navigation, disclosed that it has successfully raised $20 million in a Series A funding round led by Thrive Capital, with participation from Initialized Capital and the Mayo Clinic. Among the other investors are Hugo Barra, Coalition Operators, Dr. Robert Spetzler, Bob Iger, and Kevin Durant.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Surgical AR Market based on the below-mentioned segments: 

Global Surgical AR Market, By Device Type

• Head Mounted Display
• Handled Device
• Others

Global Surgical AR Market, By Product Type

• Hardware
• Software
• Others

Global Surgical AR Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa