Increasing use of virtual reality in surgical training and patient treatment, rapid technological advancements in VR headsets, and rising application of VR in medical education are some key factors expected to drive market growth.
Increasing use of virtual reality in surgical training and patient treatment, rapid technological advancements in VR headsets, and rising application of VR in medical education are some key factors expected to drive market growth
According to Emergen Research, the global virtual reality in medical market size was USD 446.2 Million in 2020 and is expected to reach USD 3,975 Million in 2028 and register a revenue CAGR of 31.1% during the forecast period, 2021-2028.
Market Dynamics:
Virtual reality has been widely used in the field of healthcare over the recent past and is applied in a broad range of applications such as medical training, disease treatment, and medical education, among others. Virtual reality comprises output tools, input devices, graphical manufacturing system and information software of a virtual environment. Increasing applications of virtual reality in medical sector such as VR surgical simulators, telepresence surgery, complex medical database visualization, and rehabilitation are some key factors expected to drive market revenue growth over the forecast period.
Click Here to Access Free sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/851
In addition, increasing research and development in virtual reality and technological advancements will allow surgeons to evaluate and practice new techniques on simulators before performing them on patients. This has the potential to significantly transform medical and surgical training and ensure precision and this can further fuel revenue growth of the market going ahead.
Virtual reality has emerged as a powerful diagnostic tool to help doctors and physicians carry out accurate diagnosis in combination with other imaging tests, which can further eliminate the need for invasive techniques. Virtual reality is being widely used in rehabilitation and treatment over conventional physiotherapy. The benefit of using virtual reality is that it allows multiple repetitions of simple tasks in clinical practice without needing supervision, easy use of head-mounted devices in patients with mobility issues which ensures pleasurable and convenient environment, and facilitates easy collection of data for efficient monitoring of progress.
Application of virtual reality in surgical training can also drastically reduce probability of surgical errors, in turn, improving patient safety. Training and treatment through virtual reality environments could save resources need for critical tasks and this can further reduce the costs and financial burden on healthcare organizations. However, technological limitations in various healthcare organizations, low adoption of VR technology across clinical facilities, and lack adequate knowledge in professionals across developing and underdeveloped countries regarding benefits of VR in healthcare sector are some factors that can limit market growth to a certain extent over the forecast period.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Looking for Discount [Click on the link] @ https://www.emergenresearch.com/request-discount/851
Gesture Tracking Technology segment to Register Rapid Revenue Growth Rate:
Gesture tracking technology segment is expected to register rapid revenue CAGR over the forecast period attributable to increasing application of gesture interaction to improve efficiency of doctors in improving disease treatment, ensuring faster patient recovery, and facilitating interactivity in medical education and training. Gesture tracking technology enables doctors and surgeons to flip through patient data at any given time during the medical procedure which helps them improve surgical efficiency. Gesture tracking technology also helps reduce probability of healthcare associated infections by enabling a touchless interface for patient data retrieval and this is another factor expected to contribute to revenue growth of the segment going ahead.
Hospital Segment to Dominate other End-Use Segments:
Hospital segment is expected to account for largest revenue share over the forecast period attributable to increasing adoption of VR systems and devices in hospitals due to rising awareness and availability of sufficient funds, availability of skilled healthcare professionals, increasing investment to accelerate advancement of healthcare facilities, and availability of favorable reimbursement policies.
North America to Lead in Terms of Revenue Share:
North America is expected to account for a significantly large revenue in the global market over the forecast period attributable to rising awareness regarding benefits of VR and subsequent rapid adoption, increasing investment in R&D activities in healthcare sector, growing healthcare expenditure, and robust presence of key market players in the region. in addition, rapid technological advancements in AR and VR devices, increasing initiatives to encourage adoption of VR tech for surgical and medical training, and integration of advanced technologies such as EHRs and VR systems in healthcare sector are some other factors expected to contribute to revenue growth of the market in the region.
Major Companies in the Market Include:
- Microsoft Corporation
- Koninklijke Philips NV
- Firsthand Technology Inc.
- Orca Health Inc.
- General Electric
- Alphabet Inc.
- AppliedVR Inc.
- SyncThink Inc.
- Osso VR Inc.
- EchoPixel Inc.
Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/virtual-reality-in-medical-market
For the purpose of this report, 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
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
Latest Blog Articles Published by Emergen Research:
World’s Top 10 Companies Striding towards an All-electric Future of Mobility with Fast EV Charging Solutions
Top 10 Electric Vehicles Companies Focused on Transforming The Automotive Industry
World’s Top 9 Companies Offering Latest Brachytherapy Devices
Top 9 Companies in the World Offering Best Digital Water Solutions to Cater to Growing Need for Clean Water
Top 5 Lithium Mining Countries Leading the Global Renewable Energy Transition
Top 10 Companies That Are Globally Leading Manufacturers of Cannabis Products
Top 10 Wind Energy Companies Offering Ground-breaking Wind Energy Solutions
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights
Explore Our Custom Intelligence services | Growth Consulting Services
Read Our Press release@ https://www.emergenresearch.com/press-release/global-virtual-reality-in-medical-market