NEW YORK, June 27, 2023 /PRNewswire/ — The virtual reality (VR) market in Healthcare is estimated to grow at a CAGR of 32.85% between 2022 and 2027. The market size is forecast to increase by USD 9,019.06 millionaccording to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by way of synthesis, and summation of data from multiple sources. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report

Technavio has announced its latest market research report titled Global Virtual Reality Market in Healthcare 2023-2027

Technavio has announced its latest market research report titled Global Virtual Reality Market in Healthcare 2023-2027

What’s New? –

  • Special coverage on the RussiaUkraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

  • Global competitiveness and key competitor positions

  • Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Some Companies Mentioned their Offerings.

  • HTC Corp. – The company offers virtual reality solutions in the healthcare sector such as Vive headset.

  • Siemens AG – The company offers virtual reality such as Galaxy smartwatches, galaxy tab a, and galaxy a series in the healthcare sector.

  • XRHealth USA Inc. – The company offers virtual reality such as mini lite and lite with boom camera, and tv and tv pro one in the healthcare sector.

  • To gain access to more vendor profiles with their key offerings available with Technavio, Download Sample Report

Virtual Reality Market in Healthcare Market – Market Dynamics:

Key Drivers

Growing demand for healthcare services is notably driving the growth of virtual reality (VR) in the healthcare market. This is due to the increasing aging population and the rise in global disposable income. Moreover, there is a growing prevalence of chronic illnesses and a demand for enhanced healthcare services. As a result, there is an urgent requirement for additional medical services and personnel to address the growing number of patients effectively. Consequently, the healthcare industry is witnessing the rise of innovative mobile applications and systems that employ virtual reality technology. Hence, these factors are expected to drive the market’s growth during the forecast period.

Major Trends

The advent of Industry 4.0 is a major trend shaping the virtual reality (VR) market in healthcare. The concept of Industry 4.0 is to use new digital technology and intelligent automation in various business and production processes. This integration makes building interconnected and intelligent systems easier, which has significant strategic and operational benefits. The healthcare industry is gradually adopting Industry 4.0, utilizing sensors and the Internet of Things (IoT) to monitor patients and provide real-time treatment properly. The growing use of the sector 4.0 framework in healthcare is expected to benefit the industry by integrating augmented and virtual reality systems with self-monitoring and analytic capabilities, ultimately driving operational efficiencies.

Significant Challenges

Infrastructural and integration issues are challenging the virtual reality (VR) market growth in healthcare. The successful deployment of virtual reality solutions relies heavily on the availability of fast and reliable internet connectivity with high bandwidth. Challenges arise when issues such as limited connectivity, insufficient power supply, and sluggish networks occur, leading to system downtime and negatively impacting business productivity. This presents a significant challenge for the effective implementation of advanced systems in the healthcare industry, particularly in developing countries like China, India, and Japan. Consequently, the growth of the virtual reality (VR) market in the healthcare sector is expected to be hampered during the forecast period due to the presence of various infrastructure and system integration issues, impeding the implementation of virtual reality in healthcare.

To learn about additional key drivers, trends, and challenges available with TechnavioRead our Sample Report right now!

Virtual Reality Market in Healthcare Market 2023-2027: Segmentation

the virtual reality market in the healthcare market report is segmented by component (software and services), end-user (research and diagnostics, hospitals and clinics, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • The virtual reality (VR) market in healthcare share growth by the software segment will be significant during the forecast period. The software segment of the virtual reality (VR) market encompasses a range of software applications and platforms utilized in the creation, development, and delivery of virtual reality experiences for medical applications. In the healthcare sector, virtual reality software finds application in various areas such as medical training, patient education, treatment, and surgical simulation. By leveraging virtual reality software, medical professionals can construct immersive experiences that simulate intricate medical scenarios and provide personalized medical training. Additionally, virtual reality software can be employed to educate patients, ultimately leading to improved patient outcomes. As a result, this software segment is expected to make a significant contribution to the growth of the virtual reality market in healthcare during the forecast period.

What are the Key Data Covered in the Virtual Reality Market Research Report in Healthcare?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the virtual reality market in healthcare between 2023 and 2027

  • Precise estimation of the size of the virtual reality market size in healthcare and its contribution of the market in focus to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the market industry across North America, Europe, APAC, South America, and Middle East and Africa

  • Thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of virtual reality market vendors in healthcare

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Virtual Reality Market Scope in Healthcare

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 32.85%

Market growth 2023-2027

USD 9,019.06 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

32.46

Regional analysis

North America, Europe, APAC, South America, and Middle East, and Africa

Performing market contribution

North America at 36%

Key countries

US, Canada, China, Germany, and the UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Alphabet Inc., Augmedix Inc, BioflightVR, CAE Inc., Dassault Systemes SE, Eon Reality Inc., Firsthand Technology Inc., GE Healthcare Technologies Inc., HTC Corp., Intuitive Surgical Inc., Koninklijke Philips NV, Medical Realities Ltd., Meta Platforms Inc., MindMaze SA, Samsung Electronics Co. Ltd., Siemens AG, Sony Group Corp., Teladoc Health Inc., XRHealth USA Inc., and Psico Smart Apps SL

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

Table of Content

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Component

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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Global Virtual Reality Market in Healthcare 2023-2027

Global Virtual Reality Market in Healthcare 2023-2027

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