The global virtual reality (VR) in healthcare market size reached US$ 850.8 Million in 2023. Looking forward, the market is projected to reach US$ 7.08 billion by 2032, exhibiting a growth rate (CAGR) of 26.55% during 2023-2032.
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.
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.
2. What is the expected growth rate of the global Virtual Reality (VR) in healthcare market during 2024-2032?
3. What are the key factors driving the global Virtual Reality (VR) in healthcare market?
4. What has been the impact of COVID-19 on the global Virtual Reality (VR) in healthcare market?
5. What is the breakup of the global Virtual Reality (VR) in healthcare market based on the technology?
6. What is the breakup of the global Virtual Reality (VR) in healthcare market based on the product?
7. What is the breakup of the global Virtual Reality (VR) in healthcare market based on application?
8. What is the breakup of the global Virtual Reality (VR) in healthcare market based on the end user?
9. What are the key regions in the global Virtual Reality (VR) in healthcare market?
10. Who are the key players/companies in the global Virtual Reality (VR) in healthcare market?
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
This report 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 2024-2032. The report has categorized the market based on component, technology, product, application and end user.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
Breakup by Region:
- 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
Competitive Landscape
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
1. What was the size of the global Virtual Reality (VR) in healthcare market in 2023?2. What is the expected growth rate of the global Virtual Reality (VR) in healthcare market during 2024-2032?
3. What are the key factors driving the global Virtual Reality (VR) in healthcare market?
4. What has been the impact of COVID-19 on the global Virtual Reality (VR) in healthcare market?
5. What is the breakup of the global Virtual Reality (VR) in healthcare market based on the technology?
6. What is the breakup of the global Virtual Reality (VR) in healthcare market based on the product?
7. What is the breakup of the global Virtual Reality (VR) in healthcare market based on application?
8. What is the breakup of the global Virtual Reality (VR) in healthcare market based on the end user?
9. What are the key regions in the global Virtual Reality (VR) in healthcare market?
10. Who are the key players/companies in the global Virtual Reality (VR) in healthcare market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Virtual Reality (VR) in Healthcare Market
6 Market Breakup by Component
7 Market Breakup by Technology
8 Market Breakup by Product
9 Market Breakup by Application
10 Market Breakup by End User
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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.
- XRHealth
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 850.8 Million |
| Forecasted Market Value ( USD | $ 7080 Million |
| Compound Annual Growth Rate | 26.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
