NEW DELHI, OCTOBER 4, 2022 (GLOBE NEWSWIRE) — Global Virtual Reality in Healthcare Market prospering because of iIncreasing penetration of connected devices in healthcare, growing awareness of virtual reality exposure therapy in developed countries, introduction of unconventional healthcare accessories and gadgets supported by virtual reality, increasing application of virtual reality in patient care .
A recent study conducted by a strategic consulting and market research firm found that blue weave consultinghas revealed that the global virtual reality in healthcare market is expected to grow at a CAGR of 42.0% and generate revenue of approximately US$5.32 billion by the end of 2028. Virtual reality in healthcare market Healthcare is booming with several fundamental factors expected to drive the growth and adoption of augmented reality (AR) and virtual reality (VR) technologies in the healthcare industry. This includes technological advances and digitization in healthcare, favorable government initiatives, rising healthcare costs, rising healthcare costs, and more. Surgery, and use in medical training. These techniques have a wide range of applications in healthcare, including surgery, diagnosis, rehabilitation, training, and education. However, the lack of awareness of virtual reality exposure therapy in developing countries may act as a major restraining factor to market growth.
Improving the capabilities of surgeons
Improving the ability of surgeons to diagnose and perform surgeries could contribute to the growth of augmented reality in the healthcare market. Recent advances in medical imaging technology, combined with the growing demand for virtual reality in the healthcare industry, have become a significant driver of AR in the healthcare market. Increased availability of real-time data and faster diagnosis and treatment of diseases are expected to drive the growth of augmented reality in the healthcare market. Additionally, the surgeon has access to 2D and 3D reconstructions of her, which helps during ongoing surgery. As a result, the global virtual reality in healthcare market is projected to develop at a significant rate during the forecast period (2022-2028).
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High demand for wearable healthcare technology
Another factor expected to boost market revenue growth during the forecast period is the rising trend of wearable technology in healthcare. Increasing use of wearables in healthcare is a recent market development due to their benefits. Wearable technology has emerged as a very useful tool for monitoring patient health in the healthcare industry. Body sensors are he one of the most popular types of wearable technology. Implanted inside or inside the body, it can track a variety of ailments, including blood pressure, heart function, and stomach irritation.
Challenge: Medical professionals lack training to adopt VR
Lack of proper training of medical professionals to adopt VR is a key factor expected to hinder the market growth. Medical professionals who want to use virtual reality will need to learn how to use the controls within their environment. Complex software may require complex controllers that are difficult to use. Learning how to use VR in healthcare can be time-consuming and difficult, and not enough medical professionals with the necessary training are embracing its use. The inability of VR controllers to mimic human fine motor skills is a major drawback to the use of VR in healthcare.
See press release: https://www.blueweaveconsulting.com/press-release/global-virtual-reality-in-healthcare-market-to-grow-at-a-cagr-of-42-0-during-forecast-period
segment coverage
Global Virtual Reality in Healthcare market – By Application
Based on application, the global virtual reality in healthcare market is segmented into Pain Management, Education & Training, Surgery, Patient Care Management, Rehabilitation & Treatment Procedures, and Others (Post-Traumatic Stress Disorder (PTSD) & Others). increase. A larger revenue share is expected for this surgery during the forecast period. This is because more and more surgical procedures use virtual reality (VR), which provides her three-dimensional view of a patient’s anatomy and physiology. Planning and practice increase the chances of success when a difficult VR procedure is performed. Therefore, it increases safety by reducing the chances of surprises. VR is also needed for surgical robots, which use robotic arms controlled by a surgeon at a console. A camera that is inserted into the body to image the surgical site is indispensable for surgery. During surgery, input from the tactile and sensory systems is essential,
Impact of COVID-19 Global Virtual Reality in Healthcare market
Many OEMs have been affected by the economic crisis and lockdowns brought on by the COVID-19 pandemic. Throughout the year, many suppliers faced significant resource limitations in their logistics and materials supply chain, which had a noticeable negative impact on their operations. Moreover, the Indian brake pad market is greatly affected by supply chain disruptions. Meanwhile, markets are improving and will likely return to normal as government aid increases. The market is expected to grow from 2022 to 2028 owing to the accelerating speed of economic recovery in some regions and increasing sales of electric vehicles. This was expected to increase demand for brake pads.
competitive environment
Major Market Players of the Global Virtual Reality Market in Healthcare Market are Bioflight VR, CAE, Eon Reality, Inc, GE Healthcare, HTC Corporation, Intuitive Surgical, Koninklijke Philips NV, Layar, Medical Realities Ltd., Mindmaze, Oculus Rift, Psious, Samsung Electronics Co. Ltd., Siemens Ltd, Sony Corporation, TheraSim Inc., WorldViz, XRHealth USA Inc., and other prominent players. The global virtual reality in healthcare market is highly fragmented due to the presence of several domestic manufacturers. Market leaders maintain their edge by investing in research and development, incorporating cutting-edge technology into their products, and releasing upgraded items to customers.Strategic alliances, agreements, mergers, partnerships, etc. , various tactics are used.
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The detailed analysis of the report provides information on the growth potential, future trends and statistics of the global Virtual Reality in Healthcare market. It also highlights the factors driving the forecast of the total market size. The report promises to provide recent technological trends and industry insights for global virtual reality in the healthcare market to help decision makers make sound strategic decisions. In addition, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Recent development
- MindMaze Healthcare has announced four new collaboration agreements in May 2021 with Surgicorp, Alkholi, Guttmann Barcelona and Swiss Rehabilitation. This will bring MindMaze’s digital neurotherapies to patients in Latin America, the Middle East, Spain and Switzerland.
Reporting scope
| attribute | detail |
| Years of consideration | Historical Data – 2018-2021 |
| Base Year – 2021 | |
| Forecast – 2022 – 2028 | |
| facts covered | $1 billion in revenue |
| Product service/segmentation | By Component, By Application, By Region |
| main player | Bioflight VR, CAE, Eon Reality, Inc, GE Healthcare, HTC Corporation, Intuitive Surgical, Koninklijke Philips NV, Layar, Medical Realities Ltd., Mindmaze, Oculus Rift, Psious, Samsung Electronics Co. Ltd., Siemens Ltd, Sony Corporation, TheraSim Inc, WorldViz, XRHealth USA Inc., and other prominent players. |
By component
- hardware
- software
- content
by application
- pain management
- education and training
- surgery
- patient care management
- Rehabilitation and treatment procedures
- Others (such as post-traumatic stress disorder (PTSD))
By region
- North America
- Europe
- Asia Pacific (APAC)
- latin america
- Middle East and Africa (MEA)
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