The size of the global Virtual Reality (VR) market for healthcare was estimated at USD 2.33 billion in 2022 and is anticipated to increase from USD 3.11 billion in 2023 to USD 25.22 billion by 2030, exhibiting a CAGR of 34.9% over the course of the forecast period.
Hospitals and healthcare professionals have benefited greatly from the use of virtual reality (VR) in healthcare. People with autism, phobias, depression, and addiction are being identified, treated, and rehabilitated using this technology. Virtual reality has many uses, and healthcare providers are starting to incorporate it into their daily operations. Due to the risk-free environment it provides, this technology has also shown to be an effective tool for complex surgeries.
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Which company dominates the Global Virtual Reality (VR) in Healthcare Market?
- Koninklijke Philips N.V. (Netherlands)
- Samsung Electronics Co., Ltd. (South Korea)
- EON Reality (U.S.)
- CAE Healthcare (U.S.)
- Oculus Rift (Facebook Inc.) (U.S.)
- Medical Realities Ltd. (U.K.)
- XRHealth USA Inc. (U.S.)
- Amelia (formerly Psious VR) (Spain)
- HTC Corporation (Taiwan)
- Sony Corporation (Japan)
What are the factors driving the growth of the Virtual Reality (VR) in Healthcare Market?
Virtual reality is being used in healthcare to enhance patient treatment capabilities. Medical experts can easily detect, diagnose, train for, and treat health issues thanks to virtual reality (VR) medical treatment. Psychiatrists frequently treat patients' phobias with virtual reality tools. In therapy sessions, virtual reality is being used more frequently to treat phobias like claustrophobia, fear of heights, and fear of the dark. For example, it aids patients in overcoming claustrophobia during MRI scans. Virtual reality is increasingly being used in medical procedures other than therapy sessions. For instance, San Francisco-based Vivid Vision, a provider of vision care, uses virtual reality to help treat medical conditions like lazy eye. Crossed eyes, weak eyes, and convergence disorder may all be treated remotely.
What are the geographical insights of the Virtual Reality (VR) in Healthcare Market?
Geographically, the market is examined across five key continents, including Latin America, the Middle East, and Africa. Further research is conducted across nations in each region.
The largest market revenue in 2022 was produced in North America. The growing use of immersive technologies in medical settings is driving an increase in VR adoption in this region. Government programs and sizeable R&D expenditures are some of the additional factors. Additionally, funds are being provided by the American government for research on VR applications in the medical field. The pressure to lower treatment costs is forcing healthcare providers to outsource IT services related to healthcare. Additionally predicted to drive up demand are these factors.
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An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2030, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2030.
Analysts have segmented the "Virtual Reality (VR) in Healthcare Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Virtual Reality (VR) in Healthcare Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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