Virtual Reality (VR) in Healthcare Market Size 2021 Share, Growth By Top Company, Business Opportunity, Regional Analysis, Application, Driver, Trends and Forecasts By 2030

In a recently published report, Virtual Reality (VR) in Healthcare report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Virtual Reality (VR) in Healthcare products.

Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10336443

Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Global Virtual Reality (VR) in Healthcare Market is valued at approximately USD 2.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 42.4% over the forecast period 2020-2027. Virtual reality is the concept of computer-generated virtual environment to deliver real-life sensory experience to the user. In recent years, the virtual reality technology has emerged as a major innovation field in the healthcare industry. Since, it will create three-dimensional environment by which individual is able to influence virtual objects and execute a series of tasks. Also, the adoption of VR technologies has been increased in medical education and training institutions as they provide 360-degree video and three-dimensional interactive content to develop the best learning programs for students and physicians. Thus, many healthcare organizations have realized the benefits of virtual reality and started its deployment in their operations, which is resulting in the market growth during the forecast period.

Furthermore, the rise in investment of organization in healthcare VR, the rising incidences of neurological disorder, and escalating demand for innovative diagnostic technique are the few factors responsible for the CAGR of the market during the forecast period. For instance, in April 2020, XRHealth has raised the funding of USD 7 million to expand its telehealth virtual reality platform for patients and clinicians. Similarly, in 2016, MindMaze, a Swiss-based start-up, has raised USD 100 million funding from the multinational conglomerate, Hinduja Group, for the advancement of VR software and hardware that aims to offer clinical treatments for stroke patients. Therefore, such investment made by the company are expected to strengthen the utility & adoption for virtual reality in healthcare sector. Although, the recent outbreak of COVID-19 pandemic has been a significant impact on the demand for healthcare VR technology since it can help the patients to process the emotional aspects of traumatic memories and interpret useful resources to well-manage the COVID-19 related stressors. Therefore, this factor is positively influencing the demand for Virtual Reality (VR) in Healthcare in the recent year. However, the high cost of VR technology and dearth of skilled professionals are the major factors limiting the market growth over the forecast period of 2020-2027.

The regional analysis of the global Virtual Reality (VR) in Healthcare market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technologically advanced products associated with VR, along with the presence of a significant number of manufacturers in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of neurological & psychological disorders and increasing government initiatives for the adoption of advanced & digital technologies for better health outcome would create lucrative growth prospects for the Virtual Reality (VR) in Healthcare market across the Asia-Pacific region.

Major market player included in this report are:
Virtalis Ltd
CAE Healthcare, Inc.
GE Healthcare
Virtual Realities Ltd
Qualcomm Technologies, Inc.
Vuzix Corporation
Mimic Technologies Inc.
WorldViz, LLC
Brainlab AG
Samsung Healthcare

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
Full Immersive VR
Semi-Immersive VR
Non- Immersive VR

By Component:
Hardware
Software

By Application:
Surgery Simulation
Tele-Surgery
Robotic Surgery
Visualization and Rehabilitation
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10336443

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Virtual Reality (VR) in Healthcare Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10336443

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

Contact Us

Kenneth Research
Email: Sales@kennethresearch.com
Phone: +1 313 462 0609

Market
Global Data Discovery Market
Global Smart Retail Devices Market
Global Industrial Wearables Market
Global Mobile Logistics Robot Market

Share your love
Christophe Rude

Christophe Rude

Articles: 15888

Leave a Reply

Your email address will not be published. Required fields are marked *