Virtual Reality (VR) in Healthcare Market Size, Share, Industry Growth and Forecast Till 2027

The latest research study “virtual reality (VR) in healthcare market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global virtual reality (VR) in healthcare market size reached US$ 454.02 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2,582.93 Million by 2027 exhibiting a CAGR of 31.50% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Industry Definition and Application:

Virtual reality (VR) in healthcare enables both healthcare professionals and patients to interact in simulated environments tailored for medical education, rehabilitation, and pain management. It can be segmented into several types based on technology, such as head-mounted, gesture-tracking, projector, and display walls, etc.

The solutions of VR in healthcare aid patients and doctors to communicate from anywhere, evaluate medical progress in real-time, and make for more practical theoretical learning for medical students ensuring they acquire hands-on skills in risk-free conditions.

They even prove highly effective in performing mock surgeries and assisting patients dealing with mental health issues and depression, thereby making them feel safer and more comfortable. Consequently, VR in healthcare procedures are extensively used in hospitals, clinics, and research laboratories, across countries.

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Virtual Reality (VR) in Healthcare Market Trends and Drivers: 

The increasing adoption of connected devices in healthcare establishments is primarily driving the virtual reality (VR) in healthcare market. In addition to this, the escalating advancements in dependable medical software and hardware development are acting as significant growth-inducing factors.

Furthermore, the launch of smart wearable VR devices, including fitness trackers, goggles, rings, fit bands, and headsets, is also positively influencing the market growth. Apart from this, the growing geriatric population and the elevating incidences of numerous chronic and lifestyle health disorders among the masses are further catalyzing the global market.

Moreover, inflating investments in research and development activities (R&D), the rising innovations in mobile applications and telemedicine, and the expanding demand for VR technologies in pain management and post-traumatic stress disorder (PTSD) therapies are expected to stimulate the virtual reality (VR) in healthcare market over the forecasted period.

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Report Segmentation:

The report has been segmented the market into following categories:

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

By Geography:

• 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

List of Major Key Players:

The major players in the market are 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 highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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