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

Given the present scenario, many stakeholders are adopting such advanced marketing strategies to drive better consumer engagement through the use of immersive and interactive technologies 

Roots Analysis has announced the addition of Healthcare Digital Marketing Market report to its list of offerings.

Over time, various pharma players have taken advantage of these immersive technologies for education, training as well as marketing, purposes. These technologies have been demonstrated to be capable of driving better customer engagement, and generating useful insights based on their expectations and purchase behaviors. Given the increasing demand for immersive technologies in the healthcare and pharma marketing, several stakeholders are expected to forge alliances with AR / VR service providers in the foreseen future. Owing to the rising interest of big pharma players in this domain, we expect an escalated industry-wide adoption of such technologies. 

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Key Market Insights

More than 125 companies claim to offer different AR / VR based digital marketing services to the healthcare and pharma industry. 

The majority of players engaged in providing AR / VR based digital marketing services to the healthcare and pharmaceutical industry are small-sized companies (63%), followed by mid-sized (32%) and large players (5%). In addition, majority (38%) of the players were established during the period 2011-2015. 

Several big pharma players have taken significant strides in in the field of AR / VR 

These instances are either by collaborating with digital marketing service providers or through development of in-house capabilities. Majority (18%) of the instances were recorded in the year 2018.

More than 350 industry players have been identified as likely partners for AR / VR based digital marketing service providers

The potential strategic partners have been identified by evaluating more than 4,500 industry sponsored clinical trials (including phase I / II, phase II and phase II / III trials), and have been analyzed based on our proprietary scoring criteria.
 
Currently, a significant proportion (57%) of service revenues is generated from AR based digital marketing projects 

In 2020, VR based projects are anticipated to contribute to 42% of the overall market share. It is worth mentioning that, in the foreseen future, service revenues generated through MR based technologies are anticipated to grow at a CAGR of 5% till 2030. 

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Key Questions Answered

• Who are the leading players offering AR / VR based digital marketing services?
• Which immersive technology, AR or VR, is likely to witness greater adoption in the immediate future?
• How have big pharma players used AR / VR to create interactive 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 the evolution of this market?
• How is the current and future opportunity likely to be distributed across key market segments?

The USD 3.04 billion (by 2030) financial opportunity within the AR / VR based healthcare digital marketing service providers market has been analyzed across the following segments:

• Type of Technology
  • AR Based Services 
  • MR Based Services 
  • VR Based Services 
• Type of product
  • Hardware
  • Software
• End-User
  • Large Companies
  • Small and Mid-sized Companies
• Key Geographical Regions 
  • North America
  • Europe
  • Asia-Pacific 
  • Rest of the World 

The report features inputs from eminent industry stakeholders, according to whom, a significant increase in adoption of AR / VR based digital marketing services is anticipated in pharmaceutical industry, in the foreseen future. The report includes detailed transcripts of the discussions held with the following experts:

• Dhananjay Arora (CEO, Kwebmaker) 
• Pritam Sahu (Director, Unanimity Information & Technology)

The research includes detailed profiles of key players engaged in this domain; each profile features an overview of the company, recent developments and an informed future outlook.

• ARWorks
• CG Life
• CubeZoo
• Impact XM
• INVIVO Communications
• Mirum
• Pixacore
• Random42
• Quast Media
• Tipping Point Media
• vStream

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Contact:

Gaurav Chaudhary
Gaurav.Chaudhary@rootsanalysis.com