Global virtual reality (VR) health market is expected to gain market growth in the forecast period of 2021 to 2028. and expected to reach USD 30,162.53 million by 2028. Increased preference of VR in the healthcare industry is acting as major factor for the growth of the market.
The demand for virtual reality in healthcare continues to grow in recent years. The number of people actively using VR for various applications has grown dramatically. VR has a multitude of applications for health and healthcare, from the clinical to the consumer. It is being used to train & support healthcare professionals, change lives and heal patients. There has been growing adoption of virtual reality in various applications such as:
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Medical Training: Virtual reality can transport professionals inside the human body to access & view areas that otherwise would be impossible to reach.
Treatment of Patients: Virtual reality is useful in planning complex operations beforehand, such as neurosurgical procedures. It is used to educate patients about positive lifestyle choices, such as stopping smoking, moderate alcohol intake, healthy eating, and exercise.
Pain Management: Virtual reality is found to be useful in relieving pain and rehabilitation of patients with severe pain, such as those who are recovering after having received a skin graft, during the daily cleaning of burns wounds, or to make daily injections more bearable for children.
Physical Therapy and Rehabilitation: During physical therapy, virtual reality allows shortening of recovery times by making it easier for patients to do their exercises.
Addiction: Medical virtual reality can also be useful in helping with recovery from addiction to substances, using gradual exposure techniques along with coaching on how to respond to the addiction urges.
Virtual Reality for Children: VR healthcare solutions help to distract children from the pain they may experience during blood tests, flu shots, and other medical procedures.
Dentistry: Virtual reality offers VR headsets to dental patients and dental practitioners to abstract away from the procedure and relax.
Thus, the growing adoption of virtual reality in various applications such as medical training, pain management, patient treatment, surgery, dentistry, physical therapy, and rehabilitation, and others acts as a major driving factor for the growth of the global virtual reality (VR) health market.
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Global Virtual Reality (VR) Health Market Scope and Market Size
Global virtual reality (VR) health market is segmented on the basis of the product, technology, application, therapeutic area, end user, and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, global virtual reality (VR) health market has been segmented into hardware, software, and services. Hardware segment is further sub-segmented by type into displays, sensors, input devices, semiconductor components and other hardware. Sensors is further sub segmented into accelerometers, gyroscope, magnetometer, proximity sensors, global positioning systems and others. Hardware segment is further sub segmented by modality into head mounted devices and handheld devices. Software segment is further sub segmented into integrated and standalone. Services segment is further sub segmented into professional services and managed services. In 2021, hardware is expected to dominate the global virtual reality (VR) health market, owing to wide presence of virtual reality products such as headsets and glasses, high prices of hardware products as compared to software and services, and vast adoption of virtual reality devices in the hospitals.
- On the basis of technology, global virtual reality (VR) health market has been segmented into head-mounted technology, gesture-tracking technology, projector & display walls technology, mobile device-based and others. In 2021, head-mounted technology is expected to dominate the global virtual reality (VR) health market, attributed to factors such as rising investments in this technology, improved communication between doctors, and encourage them to take better decisions pertaining to patient’s treatment and health
- On the basis of application, global virtual reality (VR) health market has been segmented into medical training and education, virtual reality exposure therapy, surgery, patient care management, rehabilitation, pain management and others. Medical training and education segment is further sub segmented into simulation training, medical practitioner courses and others. Surgery is further sub segmented into surgical pre-operative assessment and image guided & robotic surgery. In 2021, medical training and education is expected to dominate the global virtual reality (VR) health market, owing to wide usage of virtual reality products in medical education, create 3-D learning environment, which further support in enhanced human interactions.
- On the basis of therapeutic area, global virtual reality (VR) health market has been segmented into craniofacial, cardiovascular, ophthalmology, pulmonary, neurological, sleep disorders, phobias, addictions, posttraumatic stress disorder (PTSD) and others. In 2021, posttraumatic stress disorder (PTSD) is expected to dominate the global virtual reality (VR) health market, attributed to increase in use of virtual reality to treat PSTD, with an aim to reduce symptom severity. The major focus is to shift care treatment with a view of virtual environment, which is also less threatening for patients.
- On the basis of end user, global virtual reality (VR) health market has been segmented into hospitals, clinics, surgical centres, ambulatory surgical centers, diagnostic centers, rehabilitation centers, long-term care facilities, mental health institutions and others. In 2021, hospitals is expected to dominate the global virtual reality (VR) health market, owing to large implementation of virtual reality applications, such as training professionals, performing surgery, providing medical consultation remotely, and among others.
- On the basis of distribution channel, global virtual reality (VR) health market has been segmented into direct tenders, retail sales and third party distributor. In 2021, retail sales is expected to dominate the global virtual reality (VR) health market, as hospitals, surgical centers, and other end users, establish partnerships, collaborations, and agreements, for the implementation of virtual reality products in their healthcare institution
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Virtual Reality (VR) Health Market Country Level Analysis
Virtual reality (VR) health market is analysed, and market size information is provided by country, product, technology, application, therapeutic area, end user and distribution channel.
The geographies covered in Global virtual reality (VR) health market report are North America, Europe, Asia-Pacific, Middle East and Africa, and South America
U.S. dominates the North America virtual reality (VR) health market owing to the owing to factors such as strong presence of providers and growing adoption of technological innovations in virtual reality (VR) health. Germany dominates the Europe virtual reality (VR) health market, due to extreme focus toward adoption of next-generation healthcare technologies, demand for head-mounted displays, and ongoing research and development in the healthcare industry. China dominates the Asia-Pacific virtual reality (VR) health market, attributed to adoption of virtual reality healthcare solutions for treatment of patients and growing emphasis of the government toward strong healthcare infrastructure.
Competitive Landscape and Virtual Reality (VR) Health Market Share Analysis
Virtual reality (VR) health market competitive landscape provides details by competitor. Pieces included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Global virtual reality (VR) health market.
The major players covered in the report are SyncThink Inc., AppliedVR, Koninklijke Philips N.V., EchoPixel, Psious, Firsthand Technology Inc, MindMaze Inc, Augmedix, Inc, VirtaMed AG, Vivid Vision, Inc, Virtually Better Inc, Osso VR, Inc, ImmersiveTouch, Inc, CAE Inc, Google (A Subsidiary of Alphabet Inc), Microsoft, General Electric, Medical Realities Ltd, Siemens and Facebook among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
