Virtual Reality Market projected to reach USD 13.50 Billion by 2032, growing at a CAGR of 27.26% during the forecast period of 2023-2032 - published by MarketDigits

Global Virtual Reality In Healthcare Market Report Scope:

• Market size value in 2023 - USD 4.05 Billion
• Market size value in 2030 - USD 13.50 Billion
• CAGR (2023-2030) - 27.26%
• Forecast Period - 2023–2032
• Historic Data - 2019
• Segments Covered - Component, Application, End User , Technology & Region
• Geographies Covered - North America, Europe, Asia Pacific, and RoW
• Companies Covered - Microsoft Corporation,Siemens Healthineers AG, Applied VR

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TOC Covers in Depth & Breath on Virtual Reality In Healthcare Market

• 270 - Market Data Tables
• 95 - List of Figures
• 325 - Pages

Market Overview: Virtual reality (VR) is a diagnostic tool with high beneficial to hospitals and medical professions in healthcare. The patient suffering from diseases such as autism, phobias, depression, and addiction this technology is considered useful in diagnosing, planning, treatment and rehabilitation. Many healthcare recognized the advantage of the virtual technology and begun the application integration in their practices. For complex surgeries this technology is considered to be a valuable tool by providing a simulated, low-risk environment. Virtual reality technology has included various application in healthcare like surgeries, diagnostics, rehabilitation, training, and education. In addition, this technology is primarily used in robotic surgeries and remote telesurgeries. During pandemic, there was drastic increase in the virtual reality tool in healthcare. Using virtual reality to understand and study influence of new strain virus has helped doctor and healthcare professions. Moreover, the technology has helped the doctors and healthcare professionals to get real-time radio graphics analysis highlighting the effect of the disease on the patient’s body. After patient’s recovery from the COVID 19 patient were suffering from post-intensive care syndrome (PICS), to help the patient get recovered from this syndrome the use of virtual rehab sessions through virtual reality technology were used. The use of virtual reality technology in medical education and training is driving factor for the upsurge of the market growth. Furthermore, the increase in the occurrence of neurological disorder, increase demand of advanced technology, rising awareness of the benefits of virtual reality technology are another factor fueling the market growth.

Major Vendors in the Global Virtual Reality In Healthcare Market:

• AppliedVR
• EchoPixel
• EON Reality
• Firsthand Technology
• Immersive Touch
• Koninklijke Philips N.V
• Microsoft Corporation
• Siemens Healthineers AG (Siemens AG)
• Surgical Science Sweden AB
• Sync Think Inc
• Virtually Better
• XRHealth

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Market Dynamics

Drivers:

• Emphasis more on digitalisation of healthcare industry
• Enhanced surgical strategies
• Increased investment in medical research sector

Opportunities:

• Reliability in diagnosis
• Improves visualisation during procedures
• Medical training and simulation

The market for Virtual Reality in Healthcare is dominated by North America.

By analysing the virtual reality in healthcare market globally across various country like North America, Europe, Asia-Pacific, and LAMEA in which North America holds the largest market share, driven by increased uptake of VR in this region due to rapid utilization of captivating technology in medical practices. Other factors fueling the market includes government initiatives and investment in research and development sector. Furthermore, U.S government is funding for doing research on VR application and technologies. In this region, the outsourcing of healthcare IT services is experiencing a significant increase as a cost-reduction strategy. This trend is driven by the growing pressure on healthcare professionals, and it is expected to boost market demand.

Asia-Pacific is poised to be the fastest-growing market during the forecast period fueled by rapid awareness among the population and upgrade in the healthcare sector. Emerging countries like China, India, Japan poised to lead the market in terms of revenue. China is heavily investing in telemedicine and digital health industries.

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