Global Virtual Reality in Medical market size is expected to reach USD 3,975.0 Million at a revenue CAGR of 31.1% in 2028, according to latest analysis by Emergen Research.
Global Virtual Reality (VR) in medical market revenue growth can be attributed to increasing use of VR in treatment and therapies of patients with various conditions.
The report delineates the pivotal aspects of this market, shedding light on the most prominent market growth possibilities and challenges. The extensive overview of the market is also inclusive of an in-depth summary of the competitive landscape of the market on both regional and global levels.
Thus, the Global Virtual Reality in Medical Market reports sample copy includes a brief analysis of the Virtual Reality in Medical industry, list of tables and figures, table of contents, competitive landscape, geographical segmentation, innovations, and future developments based on various research methodologies.
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Some major companies in the global market report include Microsoft Corporation, Koninklijke Philips NV, Firsthand Technology Inc., Orca Health Inc., General Electric, Alphabet Inc., AppliedVR Inc., SyncThink Inc., Osso VR Inc., and EchoPixel Inc.
Some Key Highlights From the Report
- In August 2021, Curebase made an announcement about signing a one-year contract with AppliedVR to allow the latter to deploy its Curebase platform to carry out five clinical trials evaluating the effectiveness of VR therapy for treatment of chronic pain.
- Among the technology segments, gesture tracking technology segment revenue is expected to register a faster growth rate over the forecast period. Gesture-controlled interfaces are considered to be of immense benefit owing to ability to be deployed in challenging situations, e.g., in situations when a healthcare professional is unable to reach or touch a screen but still requires interacting with device. Using gesture technology, healthcare providers could easily access MRI of a patient, even take few notes by writing in the air. Gesture recognition can lessen potential for HAIs (Health care-associated infections) by delivering a touchless interface for retrieving patient information at the time of procedures.
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Emergen Research has segmented the global Virtual Reality (VR) in medical market on the basis of component, technology, end-use, and region:
- Component Outlook (Revenue, USD Million; 20182028)
- Technology Outlook (Revenue, USD Million; 20182028)
- Head-Mounted Technology
- Gesture Tracking Technology
- Projector Display Walls Technology
- End-Use Outlook (Revenue, USD Million; 20182028)
- Research Institutes
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The global Virtual Reality in Medical market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global Virtual Reality in Medical market across major geographies.
North America VR in medical market accounted for largest revenue share in 2020, attributed to rapid adoption of advanced technologies, increasing investment in research and development in healthcare sector, rising emphasis on creating disease awareness, and increasing healthcare expenditure. In addition, presence of leading market players such as Microsoft Corporation and others is expected to continue to support market revenue growth.
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