Virtual Reality (VR) in Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
The global virtual reality (VR) in healthcare market size reached US$ 454.02 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,582.93 Million by 2027, exhibiting a growth rate (CAGR) of 31.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
In healthcare, virtual reality (VR) is used as a diagnostic tool that allows doctors and surgeons to reach a diagnosis in conjunction with other methods, such as magnetic resonance imaging (MRI). This approach involves simulation, expertise training, enabling the use of minimally invasive surgery and eliminating the need for invasive procedures. The utilization of virtual reality headsets assists patients in dealing with mental health issues and depression in real time, making them feel safer and more comfortable. Additionally, a combination of wearable gadgets and virtual reality allows patients and doctors to communicate from anywhere while evaluating medical progress in real-time. This technology is mostly used for robotic surgeries and remote telesurgeries. Apart from this, virtual reality in healthcare is widely used to plan, diagnose, and treat phobia, autism, depression, and addiction.
Virtual Reality (VR) in Healthcare Market Trends:
The market is majorly driven by the escalating adoption of connected devices in the healthcare industry. This can be attributed to the growing incorporation of virtual reality (VR) and augmented reality (AR) with intricate medical procedures, including pain management, social cognition training, and damage evaluation and rehabilitation. In addition to this, continual advancements in dependable medical hardware and software development are providing an impetus to the market growth. Moreover, the introduction of smart wearable VR devices, such as rings, fit bands, fitness trackers, goggles, and headsets, is further creating a positive outlook for the market. Apart from this, the growing incidences of health disorders among the masses, particularly the geriatric population, is also contributing to the market. Some of the other factors providing a boost to the market include continuous developments in mobile applications and telemedicine, expanding medical expenditure and extensive research and development (R&D) activities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual reality (VR) in healthcare market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technology, product, application and end user.
Breakup by Component:
Software and Services
Breakup by Technology:
Projector and Display Walls
Breakup by Product:
VR Semiconductor Components
Breakup by Application:
Medical Training and Education
Patient Care Management
Rehabilitation and Therapy Procedures
Breakup by End User:
Hospitals and Clinics
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being AppliedVR Inc., EchoPixel Inc., EON Reality, Firsthand Technology Inc., ImmersiveTouch Inc., Koninklijke Philips N.V., Microsoft Corporation, Siemens Healthineers AG (Siemens AG), Surgical Science Sweden AB, SyncThink Inc., Virtually Better Inc. and XRHealth.
Key Questions Answered in This Report:
How has the global virtual reality (VR) in healthcare market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global virtual reality (VR) in healthcare market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global virtual reality (VR) in healthcare market and who are the key players?
What is the degree of competition in the industry?
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