Global Virtual Reality (VR) In Healthcare Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Application(Pain Management, Education & Training) - Industry Forecast 2022-2028

Global Virtual Reality (VR) in healthcare market was valued at USD 1.23 billion in 2021, and it is expected to reach a value of USD 9.64 billion by 2028, at a CAGR of more than 34.3% over the forecast period (2022-2028).

Global virtual reality (VR) in healthcare market refers to the consumption and production of cocoa and chocolate products in the Asia Pacific region. The Asia Pacific region includes countries such as China, India, Japan, South Korea, Australia, and New Zealand, among others. Top-down and bottom-up approaches were used to estimate and validate the size of Global virtual reality (VR) in healthcare Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

Global virtual reality (VR) in healthcare market is segmented based on component, application, and region. Based on component, the global virtual reality (VR) in healthcare market is segmented into hardware, software, service. Based on application, the global virtual reality (VR) in healthcare market is segmented into pain management, education & training, surgery, patient care management, rehabilitation & therapy procedures, others (Post-Traumatic Stress Disorder (PTSD), and others). Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and Middle East Africa.

Driver

Healthcare providers are integrating virtual reality technology to improve their patient care delivery. This advancement enables swift identification, diagnosis, guidance, and management of medical conditions. Mental health practitioners are progressively incorporating virtual reality in addressing patients' anxiety disorders, such as phobias related to confined spaces, heights, and darkness. Virtual reality has shown to be advantageous for patients with claustrophobia undergoing MRI examinations. The utilization of virtual reality in therapy sessions is rapidly expanding in the healthcare sector.

Restraint

Virtual reality technology, including headsets and other equipment, presents opportunities to address technical constraints in the healthcare sector. However, the size of the virtual reality system may pose challenges for certain healthcare environments, while resolution and computer specifications may limit their use in some facilities. Additionally, the healthcare industry has long relied on paper-based systems, and introducing electronic medical records may require specialized technological knowledge. This shortage of technical professionals in the healthcare industry may hinder the growth of virtual reality technology in healthcare. Nevertheless, experts in the industry propose that these obstacles can be resolved over time.

Trend

The emergence of wearable technology has led to a transformation in the way society perceives physical activity and health. Consumers believe that wearable tech can improve healthcare accessibility and affordability. It is anticipated that wearable devices will drive significant technological advancements in the healthcare industry. Furthermore, the integration of virtual reality (VR) with wearable technology such as fitness bands, trackers, goggles, headsets, and rings is expected to boost the utilization of VR in the healthcare sector.