virtual reality (VR) in healthcare market Overview
The latest research study “virtual reality (VR) in healthcare market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that 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 a value of US$ 2,582.93 Million by 2027 exhibiting a CAGR of 31.50% during 2022-2027.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What is the Virtual Reality (VR) in Healthcare Market
Virtual reality (VR) in healthcare enables both healthcare professionals and patients to interact in simulated environments tailored for medical education, rehabilitation, and pain management. It can be segmented into several types based on technology, such as head-mounted, gesture-tracking, projector, and display walls, etc.
The solutions of VR in healthcare aid patients and doctors to communicate from anywhere, evaluate medical progress in real-time, and make for more practical theoretical learning for medical students ensuring they acquire hands-on skills in risk-free conditions. They even prove highly effective in performing mock surgeries and assisting patients dealing with mental health issues and depression, thereby making them feel safer and more comfortable. Consequently, VR in healthcare procedures are extensively used in hospitals, clinics, and research laboratories, across countries.
What are the key factors driving the Virtual Reality (VR) in Healthcare Market
The increasing adoption of connected devices in healthcare establishments is primarily driving the virtual reality (VR) in healthcare market. In addition to this, the escalating advancements in dependable medical software and hardware development are acting as significant growth-inducing factors.
Furthermore, the launch of smart wearable VR devices, including fitness trackers, goggles, rings, fit bands, and headsets, is also positively influencing the market growth. Apart from this, the growing geriatric population and the elevating incidences of numerous chronic and lifestyle health disorders among the masses are further catalyzing the global market.
Moreover, inflating investments in research and development activities (R&D), the rising innovations in mobile applications and telemedicine, and the expanding demand for VR technologies in pain management and post-traumatic stress disorder (PTSD) therapies are expected to stimulate the virtual reality (VR) in healthcare market over the forecasted period.
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Virtual Reality (VR) in Healthcare Market Report Scope |
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Report Coverage |
Details |
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Market size value in 2021 |
US$ 454.02 Million |
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Market forecast in 2027 |
US$ 2,582.93 Million |
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Growth Rate |
CAGR of 31.50%from 2022 to 2027 |
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Base year for estimation |
2021 |
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Historical data |
2016-2021 |
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Forecast period |
2022-2027 |
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Report coverage |
Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends |
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Segments covered |
Component, Technology, Product, Application And End User |
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Regional scope |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
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Key companies profiled |
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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
Hardware
Software and Services
Breakup by Technology:
Head-Mounted
Gesture-Tracking
Projector and Display Walls
Breakup by Product:
VR Semiconductor Components
VR Devices
VR Sensors
Others
Breakup by Application:
Pain Management
Medical Training and Education
Surgery
Patient Care Management
Rehabilitation and Therapy Procedures
Others
Breakup by End User:
Hospitals and Clinics
Research Laboratories
Others
By Geography:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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List of Major Key Players:
The major players in the market are
AppliedVR Inc.
EchoPixel Inc.
EON Reality
Firsthand Technology Inc. [NASDAQ: SVVC]
ImmersiveTouch Inc
Koninklijke Philips N.V.[ NYSE: PHG]
Microsoft Corporation [NASDAQ: MSFT]
Siemens Healthineers AG (Siemens AG) [OTCMKTS: SMMNY]
Surgical Science Sweden AB
SyncThink Inc.
Virtually Better Inc.
and XRHealth.
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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