The opportunity for AR / VR based digital marketing service providers in healthcare sector is projected to be worth USD 3 billion by 2030 at significant CAGR of 26% claims, Roots Analysis
The opportunity forAR / VR based digital marketing service providers in healthcare sector isprojected to be worth USD 3 billion by 2030 at significant CAGR of 26% claims,Roots Analysis
Given the presentscenario, many stakeholders are adopting such advanced marketing strategies todrive better consumer engagement through the use of immersive and interactivetechnologies
Over time, variouspharma players have taken advantage of these immersive technologies foreducation, training as well as marketing, purposes. These technologies havebeen demonstrated to be capable of driving better customer engagement, andgenerating useful insights based on their expectations and purchase behaviors. Giventhe increasing demand for immersive technologies in the healthcare and pharmamarketing, several stakeholders are expected to forge alliances with AR / VRservice providers in the foreseen future. Owing to the rising interest of bigpharma players in this domain, we expect an escalated industry-wide adoption ofsuch technologies.
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Key Market Insights
More than 125companies claim to offer different AR / VR based digital marketing services tothe healthcare and pharma industry.
The majority ofplayers engaged in providing AR / VR based digital marketing services to thehealthcare and pharmaceutical industry are small-sized companies (63%), followedby mid-sized (32%) and large players (5%). In addition, majority (38%) of theplayers were established during the period 2011-2015.
Several big pharmaplayers have taken significant strides in in the field of AR / VR
These instances are eitherby collaborating with digital marketing service providers or throughdevelopment of in-house capabilities. Majority (18%) of the instances wererecorded in the year 2018.
More than 350industry players have been identified as likely partners for AR / VR baseddigital marketing service providers
The potential strategic partners have beenidentified by evaluating more than 4,500 industry sponsored clinical trials (includingphase I / II, phase II and phase II / III trials), and have been analyzed basedon our proprietary scoring criteria.
Currently, asignificant proportion (57%) of service revenues is generated from AR baseddigital marketing projects
In 2020, VR basedprojects are anticipated to contribute to 42% of the overall market share. Itis worth mentioning that, in the foreseen future, service revenues generatedthrough MR based technologies are anticipated to grow at a CAGR of 5% till2030.
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§ Who are the leading players offering AR / VR based digitalmarketing services?
§ Which immersive technology, AR or VR, is likely to witnessgreater adoption in the immediate future?
§ How have big pharma players used AR / VR to createinteractive and immersive experiences for their consumers?
§ Which companies are potential strategic partners for AR /VR based digital marketing service providers?
§ What are the factors that are likely to influence theevolution of this market?
§ How is the current and future opportunity likely to bedistributed across key market segments?
The USD 3.04 billion(by 2030) financial opportunity within the AR / VR based healthcare digitalmarketing service providers market has been analyzed across the followingsegments:
§ Type of Technology
- AR Based Services
- MR Based Services
- VR Based Services
§ Type of product
- Large Companies
- Small and Mid-sized Companies
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§ Key GeographicalRegions
- North America
- Rest of the World
The report featuresinputs from eminent industry stakeholders, according to whom, a significantincrease in adoption of AR / VR based digital marketing services is anticipatedin pharmaceutical industry, in the foreseen future. The report includesdetailed transcripts of the discussions held with the following experts:
§ Dhananjay Arora (CEO,Kwebmaker)
§ Pritam Sahu (Director,UnanimityInformation & Technology)
The research includesdetailed profiles of key players engaged in this domain; each profile featuresan overview of the company, recent developments and an informed future outlook.
§ CG Life
§ Impact XM
§ INVIVO Communications
§ Quast Media
§ Tipping Point Media
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About Roots Analysis
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