Virtual Reality in Medical market size is expected to reach USD 3,975.0 Million by 2028
Increasing use of Virtual Reality in a varying range of treatments for patients is a major factor driving global VR in medical market revenue growth
VANCOUVER, BC, CANADA, January 31, 2022 /EINPresswire.com/ — 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.
VR for medical purposes aids healthcare professionals in gaining learning and information regarding preventive medicine and potential side effects, including alcohol intake levels, cigarette smoking cessation, and impact of healthy diet and exercise on human health. These learnings are necessary to enable providers to experience effects on patients who are quitting smoking. VR is essential for healthcare professionals to learn and better educate their patients regarding benefits of preventive medicine.
Thus, the Global Virtual Reality in Medical Market report’s 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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VR systems are considered beneficial in saving considerable healthcare-related expenses, enhancing patient care, and improving service quality of bottom line care givers. Dissimilar to videos or various other two-dimensional media that are non-interactive, VR can simulate and provide sense of existence for individual patients in a comfortable and convenient setting.
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; 2018–2028)
Hardware
Software
Services
Technology Outlook (Revenue, USD Million; 2018–2028)
Head-Mounted Technology
Gesture Tracking Technology
Projector & Display Walls Technology
End-Use Outlook (Revenue, USD Million; 2018–2028)
Hospitals
Clinics
Research Institutes
Others
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Geographical Backdrop:
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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