Virtual Reality in Healthcare Market 2030 By Component (Software, Hardware, and Services), Technology, Therapeutic Type, Applications, End-Use (Hospitals & Clinics, Laboratories, Pharmaceutical Companies, Research and Diagnostics, Research Organizations) and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Healthcare | Pages : 191 Pages | Published On : Dec 2023

         
     

Virtual Reality in Healthcare Market size is estimated to grow from USD 2.7 Billion in 2022 to reach USD 37.0 Billion by 2030, growing at a CAGR of 38.7% during the forecast period from 2023 to 2030.

ReportDetails
Market Size ValueUSD 2.7 Billion in 2022
Market Size ValueUSD 37.0 Billion by 2030
CAGR38.7%
Forecast Period2023 to 2030
Segments CoveredBy Component, Technology, Therapeutic Type, Applications, End-Use and Region
Geographics CoveredNorth America, Latin America, Europe, Asia-Pacific, Rest of the World

Major players Virtual Reality in Healthcare Market include: Virtalis (U.K.), Siemens (Germany), General Electric (U.S.), CAE Healthcare (U.S.), Qualcomm Technologies Inc. (U.S.), Virtual Realities LLC (U.K.), Vuzix (U.S.), Samsung (South Korea), Brainlab AG (Germany), Mimic Technologies Inc (U.S.), Brainlab AG, SAMSUNG (South Korea), ImmersiveTouch, Inc (U.S), Firsthand (U.S), Medical Realities Ltd (U.K), Koninklijke Philips N.V (Netherlands), SimX (Canada), PSICO SMART APPS, S.L. (Spain) & others.

The healthcare sector has experienced significant benefits from the integration of Virtual Reality (VR), revolutionizing medical practices and patient care. This innovative technology is proving invaluable for hospitals and medical practitioners by facilitating the diagnosis, planning, and rehabilitation of individuals dealing with conditions such as autism, phobias, depression, and addiction. A growing number of healthcare providers are recognizing the diverse applications of virtual reality and incorporating it into their operations, including its utilization as a powerful tool for intricate surgical procedures due to its ability to create a risk-free environment.

Prominent providers of VR healthcare solutions have incorporated interactive 3D content and 360-degree video capabilities to develop comprehensive learning programs tailored for medical professionals and students alike. Notably, platforms like SentiAR and Proximie, which operate on a 360-degree scale, offer real-time body scans that enhance surgeons' comprehension of underlying medical conditions.

Wearable technology has significantly transformed attitudes towards health and fitness, with individuals now perceiving it as a means to enhance convenience and affordability in healthcare. As the healthcare industry undergoes a substantial technological metamorphosis, wearables are poised to lead the charge. The convergence of virtual reality with wearable devices such as fitness bands, rings, trackers, headsets, and goggles is set to drive advancements within the sector. Based on mental health, VR headsets provide instantaneous relief, making patients feel more secure and at ease. The integration of wearables with virtual reality facilitates remote interactions between patients and doctors, enabling real-time analysis of medical data from any location. These factors are projected to catalyze overall market growth over the forecast period.

Healthcare providers are leveraging virtual reality to enhance their ability to provide effective treatments to patients. VR-based medical interventions empower healthcare professionals to effortlessly detect, diagnose, train, and address various health concerns. Psychologists are increasingly employing virtual reality tools to address patients' phobias, including fear of heights, darkness, and claustrophobia, even aiding patients during claustrophobic MRI scans. Beyond therapy sessions, virtual reality is making significant inroads into diverse treatments. For instance, San Francisco-based Vivid Vision employs virtual reality to treat conditions like lazy eye, crossed eyes, and convergence disorders, offering remote solutions for patients.

VR also finds applications in pain management, damage assessment, and rehabilitation, social cognition training for autism, stroke recovery, and Post-Traumatic Stress Disorder (PTSD) treatment. Notably, virtual reality solutions are being employed to aid military veterans grappling with PTSD, resulting in a 40% improvement in symptom alleviation, as indicated by healthcare experts. This growing adoption of VR across multiple healthcare facets, coupled with its demonstrable positive impact, is expected to steer the expansion of the VR healthcare market.

Hardware Components Lead the VR Healthcare Market.

Based on Component, The hardware segment is the most prominent in the Virtual Reality (VR) healthcare market due to several factors that highlight its crucial role in advancing technology and user experience in the healthcare sector. Hardware components are the building blocks that enable the immersive and interactive nature of VR applications, making them indispensable for medical professionals, patients, and healthcare institutions.

Foremost, VR hardware encompasses a diverse array of devices, including headsets, gloves, motion trackers, and sensors, all pivotal in creating a genuine virtual environment. These devices confer users with a heightened sense of presence, facilitating interaction with medical simulations, training modules, and diagnostic tools in a natural and intuitive manner. The precision and accuracy of these hardware components are paramount in delivering seamless experiences that closely mimic real-world scenarios, ensuring dependable medical simulations and diagnostics.

Further enhancing this prominence is the ongoing evolution of hardware technology, consistently elevating the quality, performance, and comfort of VR devices. Manufacturers consistently refine aspects such as display resolutions, field of view, tracking precision, and ergonomic design to mitigate discomfort during extended usage. This improved user-friendliness encourages greater adoption among healthcare professionals, whose reliance on these devices spans training, surgical planning, and patient engagement.

Moreover, the hardware segment drives innovation through its integration with other technologies such as wearable devices and Internet of Things (IoT) sensors. This synergy enables real-time data collection, remote patient monitoring, and data-driven insights that support healthcare decision-making processes.

North America Dominant and Hold the Highest Market Share of Global Virtual Reality in Healthcare Market.

North America's supremacy in the Virtual Reality (VR) healthcare market can be attributed to a confluence of strategic advantages that position the region at the forefront of this dynamic sector. The region's robust market share is shaped by a combination of technological leadership, extensive research and development endeavors, and a conducive ecosystem for innovation. The presence of advanced technological infrastructure in North America, encompassing high-speed internet connectivity and state-of-the-art hardware capabilities, provides a solid foundation for the seamless integration and implementation of VR solutions within healthcare contexts. Moreover, the region serves as a global hub for pioneering research and development, with esteemed universities, research institutions, and technology corporations collaboratively driving innovation at the intersection of healthcare and technology. North America's economic landscape plays a pivotal role as well, drawing substantial investments and venture capital into healthcare technology ventures. This influx of funds bolsters the growth of startups and established enterprises dedicated to harnessing VR's potential for healthcare applications.

A critical factor contributing to North America's market dominance is the proactive adoption of VR by prominent healthcare institutions. Recognizing the value of VR in enhancing medical training, patient care, and therapeutic interventions, these institutions serve as early adopters, propelling the technology's integration into mainstream healthcare practices. Coupled with a supportive regulatory framework that emphasizes patient safety, North America's proactive approach to nurturing the VR healthcare ecosystem has attracted pioneering companies that specialize in tailoring VR solutions for medical education, diagnosis, treatment, and patient engagement.

The Virtual Reality in Healthcare Market research report provides an in-depth overview of the industry including market segmentation by component, technology, therapeutic type, applications, end-use and region. Analysis of the global market with a special focus on high-growth applications in each vertical and fast-growing market segment. It includes a detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and top player’s rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. Competitive intelligence from the company profiles, key player strategies, and game-changing developments such as new product launches, collaborations, expansions, investment analysis, mergers, and acquisitions.

Virtual Reality in Healthcare Market is segmented by region and further by component, technology, therapeutic type, applications, end-use and region. Players, stakeholders, and other participants in the global Virtual Reality in Healthcare Market will be able to gain a strong position as this report will surely benefit their marketing strategies. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue forecast for the period 2023-2030.

The report further studies the market strategies of key players, recent development status, future plans, and Virtual Reality in Healthcare Market trends across the world. Also, it splits Virtual Reality in Healthcare Market Segmentation by component, technology, therapeutic type, applications, end-use and region to deep dive research and reveals company profile and prospects.

Major Classifications are as follows:

  • Virtual Reality in Healthcare Market, By Component
    • Software
    • Hardware
    • Services
  • Virtual Reality in Healthcare Market, By Technology
    • Gesture-Tracking Technology
    • Head-Mounted Technology
    • Mobile Device-Based
    • Projector & Display Walls Technology
    • Others
  • Virtual Reality in Healthcare Market, By Therapeutic Type
    • Addictions
    • Cardiovascular
    • Craniofacial
    • Neurological
    • Ophthalmology
    • Phobias
    • Posttraumatic Stress Disorder (PTSD)
    • Pulmonary
    • Sleep Disorders
    • Others
  • Virtual Reality in Healthcare Market, By Application
    • Education & Training
    • Fitness Management
    • Pain Management
    • Patient Care Management
    • Pharmacy Management
    • Post-Traumatic Stress Disorder (PTSD)
    • Rehabilitation and Therapy Procedures
    • Surgery
  • Virtual Reality in Healthcare Market, By End-Use
    • Hospitals & Clinics
    • Laboratories
    • Pharmaceutical Companies
    • Research and Diagnostics
    • Research Organizations
  • Virtual Reality in Healthcare Market, By Geography
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Rest of Asia Pacific
    • Rest of the World
      • Middle East
        • UAE
        • Saudi Arabia
        • Israel
      • Africa
        • South Africa
        • Rest of Africa      

Reason to purchase this Virtual Reality in Healthcare Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Virtual Reality in Healthcare Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different and Virtual Reality in Healthcare Market segments in the top spending countries across the world and identify the opportunities offered by each of them.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Virtual Reality in Healthcare Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Virtual Reality in Healthcare Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Virtual Reality in Healthcare Market providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.

TOC

  1. Executive Summary
  2. Introduction
    1. Key Takeaways
    2. Report Description
    3. Market Scope & Definition
    4. Stakeholders
    5. Research Methodology
      1. Market size
      2. Key data points from primary sources
      3. Key data points from secondary sources
      4. List of primary sources
      5. List of secondary sources
  3. Market Overview
    1. Introduction
    2. Industry Segmentation
    3. Market Trends Analysis
    4. Major Funding & Investments
    5. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    6. Value Chain Analysis
    7. Pricing Analysis
      1. Pricing Analysis, By Products
      2. Average Pricing Benchmark Analysis
  4. Virtual Reality in Healthcare Market, By Component
    1. Software
    2. Hardware
    3. Services
  5. Virtual Reality in Healthcare Market, By Technology
    1. Gesture-Tracking Technology
    2. Head-Mounted Technology
    3. Mobile Device-Based
    4. Projector & Display Walls Technology
    5. Others
  6. Virtual Reality in Healthcare Market, By Therapeutic Type
    1. Addictions
    2. Cardiovascular
    3. Craniofacial
    4. Neurological
    5. Ophthalmology
    6. Phobias
    7. Posttraumatic Stress Disorder (PTSD)
    8. Pulmonary
    9. Sleep Disorders
    10. Others
  7. Virtual Reality in Healthcare Market, By Application
    1. Education & Training
    2. Fitness Management
    3. Pain Management
    4. Patient Care Management
    5. Pharmacy Management
    6. Post-Traumatic Stress Disorder (PTSD)
    7. Rehabilitation and Therapy Procedures
    8. Surgery
  8. Virtual Reality in Healthcare Market, By End-Use
    1. Hospitals & Clinics
    2. Laboratories
    3. Pharmaceutical Companies
    4. Research and Diagnostics
    5. Research Organizations
  9. Virtual Reality in Healthcare Market, By Geography
    1. Virtual Reality in Healthcare Market, North America
      1. U.S.
      2. Canada
    2. Virtual Reality in Healthcare Market, Latin America
      1. Brazil
      2. Mexico
      3. Argentina
      4. Rest of Latin America
    3. Virtual Reality in Healthcare Market, Europe
      1. UK
      2. Germany
      3. France
      4. Italy
      5. Spain
      6. Russia
      7. Rest of Europe
    4. Virtual Reality in Healthcare Market, Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Rest of Asia Pacific
    5. Virtual Reality in Healthcare Market, Rest of the world
      1. Middle East
        1. UAE
        2. Saudi Arabia
        3. Israel
      2. Africa
        1. South Africa
        2. Rest of Africa
  10. Competitive Analysis
    1. Introduction
    2. Top Companies Ranking
    3. Competitive Landscape
      1. Competition Dashboard
      2. Market Analysis (2022)
      3. Emerging company case studies
    4. Company Profiles
      1. Virtalis (U.K.)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      2. Siemens (Germany)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      3. General Electric (U.S.)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      4. CAE Healthcare (U.S.)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      5. Qualcomm Technologies Inc. (U.S.)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      6. Virtual Realities LLC (U.K.)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      7. Vuzix (U.S.)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      8. Samsung (South Korea)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      9. Brainlab AG (Germany)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      10. Mimic Technologies Inc (U.S.)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      11. Brainlab AG, SAMSUNG (South Korea)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      12. ImmersiveTouch, Inc (U.S)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      13. Firsthand (U.S)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      14. Medical Realities Ltd (U.K)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      15. Koninklijke Philips N.V (Netherlands)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      16. SimX (Canada)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      17. PSICO SMART APPS, S.L. (Spain)
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition

Table and Figures

Methodology:

At MarketDigits, we take immense pride in our 360° Research Methodology, which serves as the cornerstone of our research process. It represents a rigorous and comprehensive approach that goes beyond traditional methods to provide a holistic understanding of industry dynamics.

This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

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