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Virtual Reality In Healthcare Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Virtual Reality In Healthcare Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, November 1, 2024 /EINPresswire / -- The virtual reality in healthcare market has experienced robust growth in recent years, expanding from $2.94 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 44.9%. The growth in the historic period can be attributed to rise of chronic diseases, pain management and distraction therapy, telemedicine and remote consultations, patient-centric healthcare approach, increased acceptance by healthcare professionals.
What Is The Estimated Market Size Of The Global Virtual Reality In Healthcare Market And Its Annual Growth Rate?
The virtual reality in healthcare market is projected to continue its strong growth, reaching $19.46 billion in 2028 at a compound annual growth rate (CAGR) of 46.2%. The growth in the forecast period can be attributed to remote training and simulation, integration with wearable devices, real-time surgical assistance, immersive therapy for neurological disorders, expanding applications in medical training.
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Growth Driver Of The Virtual Reality In Healthcare Market
The rise in incidences of neurological disorders is driving the growth of virtual reality in the healthcare market. Neurological disorders are diseases such as Alzheimer's disease, Parkinson's disease, dementia, multiple sclerosis, migraines, and others that affect the body's central nervous system. Immersive VR technology assists in the development of promising applications for the treatment of neurological illnesses. Virtual Reality in Neurology is cost-efficient, patient-friendly, useful for both normal and pathological ageing, and gives ecological validity that standard neuropsychological tests do not provide.
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Who Are the Leading Competitors in the Virtual Reality In Healthcare Market Share?
Key players in the market include SAMSUNG Electronics Co. Ltd., Atheer Inc., Augmedix Inc., Firsthand Technology Inc., Microsoft Corporation, Medical Realities Ltd., MindMaze, Medtronic Inc., Siemens Healthineers AG, Hologic Inc., Oculus VR (Meta Platforms Inc. ), Wipro GE Healthcare Pvt Ltd, Orca Health Inc., Koninklijke Philips N. V., HTC Corporation, Sony Corporation, EON Reality Inc., XRHealth Inc., DAQRI LLC, Psious S. L., Appello Software Inc., HypnosVR Inc., Fusion VR LLC, Sapizon Technologies Pvt. Ltd., Lucid Reality Labs Inc., Room 505 Inc., VR Simulators Inc., CAE Healthcare Inc., Groove Jones LLC, Google LLC
Which Key Trends Are Driving Virtual Reality In Healthcare Market Growth?
Major companies operating in the virtual reality in the healthcare industry are adopting strategic partnerships approach to provide essential virtual reality in the healthcare services to individuals, businesses, and governments. Strategic partnerships refers to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.
How Is The Global Virtual Reality In Healthcare Market Segmented?
1) By Component: Hardware, Software
2) By Technology: Full Immersive Virtual Reality, Non-Immersive Virtual Reality, Semi-Immersive Virtual Reality
3) By Device Type: Head-Mounted Display, Gesture-Tracking Device, Projectors and Display Units, Other Devices
4) By Application: Patient Care Management, Education And Training, Fitness Management, Pharmacy, Surgery, Other Applications
5) By End User: Research And Diagnostics, Laboratories, Hospitals And Clinics, Pharmaceutical Companies, Other End Users
Geographical Insights: North America Leading The Virtual Reality In Healthcare Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Virtual Reality In Healthcare Market Definition
Virtual reality (VR) is an artificial environment created with software that is presented to the user so that the user stops believing and accepts it as a real environment.
Virtual Reality In Healthcare Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global virtual reality in healthcare market report covering trends, opportunities, strategies, and more
The Virtual Reality In Healthcare Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on virtual reality in healthcare market size, virtual reality in healthcare market drivers and trends, virtual reality in healthcare market major players and virtual reality in healthcare market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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