01-Aug-2022 | Facts and Factors
According to Facts and Factors, the global virtual reality in healthcare market was worth around USD 431.90 million in 2021 and is estimated to grow to about USD 2793.69 million by 2028, with a compound annual growth rate (CAGR) of approximately 36.50% over the forecast period. The report analyzes the Virtual Reality in Healthcare market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in Virtual Reality in Healthcare market.
Medical professionals and hospitals have benefited greatly from the use of virtual reality in healthcare. Planning, treating and diagnosing people with autism, phobias, depression, and addiction all include this technology. Virtual reality has several advantages, and healthcare professionals are starting to use it in their operations. The technology has been demonstrated to be an effective tool for challenging treatments since it offers risk-free settings. For the best learning programs for students and doctors, major virtual reality providers have combined 3D interactive content with 360-degree video. The market is anticipated to rise as a result of an increase in surgeries and the use of advanced technologies in medical training and education. Owing to the rise in demand for Virtual Reality in Healthcare, the global Virtual Reality in Healthcare market is estimated to grow at a CAGR of 36.50% during the forecast period.
Browse the full “ Virtual Reality in Healthcare Market Size, Share, Growth Analysis Report By Component (Hardware and Software), By Technology (Full-Immersive, Semi-Immersive, and Non-Immersive) By Application (Surgery, Fitness Management, Patient Care Management, Pharmacy Management, Medical Training & Education, and Others), By End-use (Hospitals, Clinics & Surgical Centers, Research Organizations & Pharma Companies, Government & Defense Institutions, Research & Diagnostics Laboratories and Others), and By Region-Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/virtual-reality-in-healthcare-market
Other factors influencing market expansion include rising demand for robotic surgery, expanding healthcare infrastructure, and helpful government efforts. Countries are opening more medical schools around the world because there is a demand for more medical experts. The market for virtual reality in healthcare is anticipated to increase as a result of the rising need for high-quality medical education worldwide. The market is anticipated to rise as a result of an increase in surgeries and the use of advanced technologies in medical training and education. Recent advancements in information technology, such as sophisticated computers, laptops, internet connectivity, and mobile apps, will propel market expansion even more. However, high treatment costs, user data privacy issues, and lack of access to virtual reality technology in poorer economies are projected to stymie industry expansion.
Segmental Overview
The Global Virtual Reality in Healthcare Market is segregated based on component, technology, application, end-use, and region.
Based on components, the market is bifurcated into Software and Hardware. Among these, the hardware segment dominates the market in 2021. Based on technology, the market is divided into Full-Immersive, Semi-Immersive, and Non-Immersive. Among these, the full-immersive segment dominates the market in 2021. Based on application, the market is divided into Surgery, Fitness Management, Patient Care Management, Pharmacy Management, Medical Training & Education and Others. Over the forecast period, the Medical Training & Education segment is expected to develop at the fastest rate in 2021.
Based on end-use, the market is divided into Hospitals, Clinics & Surgical Centers, Research Organizations & Pharma Companies, Government & Defense Institutions, Research & Diagnostics Laboratories and Others. Over the forecast period, the hospital segment is expected to develop at the fastest rate in 2021.
Regional Overview
North America is expected to dominate the Global Virtual Reality in Healthcare Market in 2021. Significant expenditures are being made in the region to incorporate new technologies into medical treatments, such as immersive technology. This is likely to boost market growth throughout the region. Similarly, rising healthcare research and development would boost regional market growth.
Over the forecast period, the Asia Pacific regional market is expected to grow at a significant rate in 2021. Revenue-wise, major economies like India, China, and Japan are anticipated to rule the healthcare sector. Investments in telemedicine and digital healthcare have been boosted by China. This is expected to hasten the uptake of virtual reality in the nation's healthcare industry. It is projected that businesses in the healthcare sector will increase their investments in VR.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 431.90 Million |
Projected Market Size in 2028 |
USD 2793.69 Million |
CAGR Growth Rate |
36.50% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Microsoft, Firsthand Technology Inc., Alphabet, General Electric, Koninklijke Philips N.V., SyncThink Inc., Applied VR Inc., EchoPixel, DAQRI, Orca Health, and Others |
Key Segment |
By Component, Technology, Application, End-use, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Competitive Landscape
The report contains qualitative and quantitative research on the global virtual reality in healthcare market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Key players functioning in the global Virtual Reality in Healthcare market include Microsoft, Firsthand Technology Inc., Alphabet, General Electric, Koninklijke Philips N.V., SyncThink Inc., Applied VR Inc., EchoPixel, DAQRI, and Orca Health.
Recent Development:
- In January 2020, Samsung Electronics Co. Ltd. announced the release of wearable vision-assistance headsets in collaboration with IrisVision. People with low vision will benefit from the new VR headsets. The firm is focusing on global market expansion.
- In September 2019, XRHealth USA Inc., in collaboration with Allscripts Healthcare Solutions, Inc., released an AR/VR platform to assist medical professionals in prescribing and monitoring patient health. Its ARHealth and VRHealth platforms offer real-time support in evaluating patient progress and insights.
Global Virtual Reality in Healthcare market is segmented as follows:
By Component
By Technology
- Full-Immersive
- Semi-Immersive
- Non-Immersive
By Application
- Surgery
- Fitness Management
- Patient Care Management
- Pharmacy Management
- Medical Training & Education
- Others
By End-Use
- Hospitals
- Clinics & Surgical Centers
- Research Organizations & Pharma Companies
- Government & Defense Institutions
- Research & Diagnostics Laboratories
- Others
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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