Virtual Reality In Healthcare Market Trend, Share, Growth, Size Analysis and Forecast 2032

Virtual Reality In Healthcare Market Insights

The global Virtual Reality In Healthcare Market size was valued at USD 3.36 Billion in 2023 and is predicted to reach USD 38.87 Billion by the end of 2032. The market is expected to grow with a CAGR of 31.3% during the forecast period. The report analyzes the global Virtual Reality In Healthcare Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Virtual Reality In Healthcare industry.

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Virtual Reality In Healthcare Market: Overview

Virtual reality (VR) is the creation of a simulated virtual environment that provides real-life sensory experiences to a person. It creates a highly immersive, visual, and 3D environment where an individual can perform a series of tasks and manipulate virtual objects.  This virtually created environment is either a simulated world or real, in which an individual can interact with the characters and objects. The virtual treatment has various advantages over conventional treatments, such as virtual treatment eliminates using complex invasive surgical procedures and drugs in treatment, which helps in saving time and cost.

The report covers a forecast and an analysis of the virtual reality in the healthcare market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million). The study includes drivers and restraints of the virtual reality in healthcare market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the virtual reality in healthcare market on a global level.

Virtual Reality In Healthcare Market Growth Dynamics

Some major factors driving the virtual reality in healthcare market are rising innovative diagnostic techniques demand, growing neurological disorders incidences, and an increasing number of disease awareness programs. Additionally, substantial advancements in the field of IT have further boosted this global market’s growth. Healthcare is one of the biggest adopters of virtual reality since, as it comprises phobia treatment, surgery simulation, skills training, and robotic surgery. In terms of medical training, VR has the ability to transport medical professionals inside the human body to view and access areas that are otherwise impossible to reach. VR surgeons can view even the minute details of a body part and create training scenarios that replicate common surgical procedures. Virtual reality plays an important role in robotic surgery, patient education, psychological and mental health therapy, and pain management, and physical therapy.

In order to give the users of this report a comprehensive view of the virtual reality in healthcare market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

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Virtual Reality In Healthcare Market Segmentation Analysis

The virtual reality in healthcare market is fragmented on the basis of offering, application, and end-user. By offering, the market includes software, services, and hardware devices (head tracking systems, non-immersive systems, head-mounted displays, and others). Based on application, the virtual reality in healthcare market is divided into computer-assisted surgery, visualization, dentistry, radiotherapy, mental health, psychological therapy, and post-traumatic stress disorder (PTSD), phobias, disability and rehabilitation, pain management, telehealth, medical training/teaching/determining level of skill, and others. On the basis of end-user, the virtual reality in healthcare market is segmented into clinics, and surgical centers, hospitals, diagnostic laboratories, healthcare institutes, and others.

Virtual Reality In Healthcare Market Regional Analysis

North America dominated the virtual reality in healthcare market in 2023, due to excellent and supportive healthcare coverage and advancements in technology. The U.S. leads this regional market for virtual reality in healthcare, due to the prevalence of psychological and neurological disorders and the presence of sophisticated healthcare infrastructure. The market vendors are highly focused on offering value-based pricing models based on customer needs and value perception. The Asia Pacific market is likely to register the highest CAGR, as countries like China, Japan, and India have emerged as the most preferred destinations for faster adoption of the latest healthcare technologies.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Virtual Reality In Healthcare Market: Report Scope

Some leading players in the virtual reality in healthcare market are

• Facebook Technology
• Firsthand Technology
• FundamentalVR
• General Electric
• ImmersiveTouch
• Intuitive Surgical
• Koninklijke Philips
• Medical Realities
• Mindmaze
• Osso VR
• Program-Ace
• Psico Smart Apps
• Qualcomm Technologies
• Samsung Electronics
• Siemens Healthcare
• SimX
• Surgical Theater
• Vicarious Surgical
• and zSpace.

This report segments the global virtual reality in healthcare market into:

Global Virtual Reality in Healthcare Market: Offering Analysis

• Hardware Devices

  • Head Tracking Systems
  • Head-Mounted Displays
  • Non-Immersive Systems
  • Others
• Software
• Services

Global Virtual Reality in Healthcare Market: Application Analysis

• Visualization (Virtual Endoscopy, Colonoscopy)
• Computer Assisted Surgery (Training, Planning, Rehearsal, and Delivery)
• Radiotherapy
• Dentistry
• Mental Health, Psychological Therapy, and Post Traumatic Stress Disorder (PTSD)
• Phobias
• Telehealth
• Disability and Rehabilitation
• Medical Training/Teaching/Determining Level of Skill
• Pain Management
• Others

Global Virtual Reality in Healthcare Market: End-User Analysis

• Hospitals, Clinics, and Surgical Centers
• Diagnostic Laboratories
• Healthcare Institutes
• Others

Global Virtual Reality in Healthcare Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa