virtual reality in medical market Size, Share, Trend

  •  The global Virtual Reality (VR) in medical market size is expected to reach USD 3,975.0 Million at a revenue CAGR of 31.1% in 2028, according to latest analysis by Emergen Research. Global Virtual Reality (VR) in medical market revenue growth can be attributed to increasing use of VR in treatment and therapies of patients with various conditions. VR systems are deployed by medical professionals to deliver more effective and efficient services to patients in a more personalized manner. VR systems are considered beneficial in saving considerable healthcare-related expenses, enhancing patient care, and improving service quality of bottom line care givers. Dissimilar to videos or various other two-dimensional media that are non-interactive, VR can simulate and provide sense of existence for individual patients in a comfortable and convenient setting.

    The report studies the historical data of the virtual reality in medical market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the virtual reality in medical market based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the virtual reality in medical market.

    VR for medical purposes aids healthcare professionals in gaining learning and information regarding preventive medicine and potential side effects, including alcohol intake levels, cigarette smoking cessation, and impact of healthy diet and exercise on human health. These learnings are necessary to enable providers to experience effects on patients who are quitting smoking. VR is essential for healthcare professionals to learn and better educate their patients regarding benefits of preventive medicine.

     

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    Some Key Highlights from the Report

    • In August 2021, Curebase made an announcement about signing a one-year contract with AppliedVR to allow the latter to deploy its Curebase platform to carry out five clinical trials evaluating the effectiveness of VR therapy for treatment of chronic pain.
    • Among the technology segments, gesture tracking technology segment revenue is expected to register a faster growth rate over the forecast period. Gesture-controlled interfaces are considered to be of immense benefit owing to ability to be deployed in challenging situations, e.g., in situations when a healthcare professional is unable to reach or touch a screen but still requires interacting with device. Using gesture technology, healthcare providers could easily access MRI of a patient, even take few notes by writing in the air. Gesture recognition can lessen potential for HAIs (Health care-associated infections) by delivering a touchless interface for retrieving patient information at the time of procedures.

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    Competitive Outlook:

     

    The global Virtual Reality In Medical market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector.  The global Virtual Reality In Medical market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.

    Some of the key participants in this industry include:

    Microsoft Corporation, Koninklijke Philips NV, Firsthand Technology Inc., Orca Health Inc., General Electric, Alphabet Inc., AppliedVR Inc., SyncThink Inc., Osso VR Inc., and EchoPixel Inc

     

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    Table of Contents:

    • Chapter 1 includes an introduction of the global Virtual Reality In Medical market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
    • Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
    • Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
    • In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
    • Chapters 5 and 6 have laid emphasis on the market segmentation based on product type and application.

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    Emergen Research has segmented the global Virtual Reality (VR) in medical market on the basis of component, technology, end-use, and region:

    Component Outlook (Revenue, USD Million; 2018–2028)

    • Hardware
    • Software
    • Services

    Technology Outlook (Revenue, USD Million; 2018–2028)

    • Head-Mounted Technology
    • Gesture Tracking Technology
    • Projector & Display Walls Technology

    End-Use Outlook (Revenue, USD Million; 2018–2028)

    • Hospitals
    • Clinics
    • Research Institutes
    • Others

    Regional Outlook (Revenue, USD Million; 2018–2028)

    • North America
      1. S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. K.
      3. France
      4. Italy
      5. Spain
      6. Sweden
      7. BENELUX
      8. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Israel
      5. Rest of MEA

     

    Valuable Market Insights:

     

    • The report highlights the latest trends observed in the consumption pattern of each regional segment.
    • Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
    • The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Virtual Reality In Medical market.
    • The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.

     

    Questions addressed in the report:

    • What is the estimated market growth rate throughout the forecast period?
    • Which end-use industry is expected to witness the highest demand for Virtual Reality In Medical in the near future?
    • What is the regulatory framework governing the application of Virtual Reality In Medical in the food industry?
    • Which manufacturing processes are utilized for the production of Virtual Reality In Medical?

     

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    About Us: Emergen Research

    Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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