The unprecedented growth of the electronics and telecommunications industry marks this decade as the golden period for advancements in technology. Next-generation technologies have given modern electronic appliances advanced processing controls, which enable end-users to experience the new aspects of the real world.
Hearteningly, though, the technology has witnessed widespread implementation in the recent years. In 2017, the global market for virtual reality accounted for nearly $ 3 billion, and the valuation is set to grow at least twice as large by 2022. Now, augmented reality (AR) and virtual reality (VR) tools are taking over efficiency- and testing-related tasks in a widening range of industrial applications.
Seeing is believing’
Despite the advent of many groundbreaking inventions and medical discoveries, the healthcare industry is still grappling to find a cure for many deadly diseases. As there is no loss costlier than the loss of a human life, healthcare industry has begun to invest in AR and VR driven simulation tools to discover new and efficient ways to save more lives.
Healthcare industry is one of the very first and very few industries to embrace digital reality on a significantly large scale. In 2018, the adoption of medical devices integrated with AR and VR technologies in the healthcare industry generated a revenue of $ 600 million. Taking into consideration the rate at which the penetration of digital reality is increasing in this landscape, the global market for AR and VR in healthcare is expected to reach a valuation of more than $ 15 billion by 2026. The healthcare AR and VR market is set to witness unprecedented growth at an astonishing CAGR (compound annual growth rate) of nearly 49 per cent between 2018 and 2026.
This story is from the March 2020 edition of BioSpectrum Asia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 2020 edition of BioSpectrum Asia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Ushering Fourth Industrial Revolution in Telangana
Taking advantage of the 21st edition of BioAsia 2024 at the Hyderabad International Convention Centre (HICC) in Madhapur, the Government of Telangana, a southern state in India, leveraged the confluence of the global platform to spearhead initiatives aimed at propelling the state into the forefront of the Fourth Industrial Revolution (C4IR).
How Indian Biotech Investments are on a Doubling Spree
A latest report by Ankur Capital provides a closer look at the investments made in biotechnology in the last decade in the country.
"AI will be integrally involved in not only the diagnosis of cancer but also in determining the prognosis and best therapeutic option”
South Korea-based Deep Bio, a pioneering artificial intelligence (AI) healthcare firm focused on cancer pathology, is making waves in the industry.
"Because of its specificity and selectivity, ADCS have the potential to reduce adverse side effects and improve patient survival"
Japan-headquartered Daiichi Sankyo, the global healthcare company, launched its subsidiary Daiichi Sankyo Singapore Pte. Ltd. to bridge unmet needs in oncology.
Can Test, Treat, Track Beat Malaria?
Malaria has long been a major public health concern in the Asia Pacific region, particularly in South East Asia (SEA) affecting millions of people.
Engineering CAR T cell sharpshooters
Approved CAR T-cell therapies have shown remarkable results in patients with certain types of blood cancers.
Addressing Challenges in Cell Therapy Manufacturing
Even with significant advancements, there are still anumber of issues with cell therapy manufacturing that need to be resolved as production grows.
"We anticipate India will adopt decentralised models for managing CGTs, ensuring closer proximity between patients and treatment facilities"
Cell and gene therapy (CGT) expert from Germany, Miltenyi Biotec has recently announced its entry into the Indian market to provide researchers, scientists and clinicians easier access to expertise, research, and manufacturing solutions.
Addressing Accessibility and Affordability of CELL & GENE THERAPIES
Cell and gene therapies (CGT) are one of the hottest sectors in the pharmaceutical industry.
Korea designs sweat resistant wearable robot sensor
New electromyography (EMG) sensor technology that allows the long-term stable control of wearable robots and is not affected by the wearer's sweat and dead skin has gained attention recently.
