About Virtual Reality (VR) in Healthcare
With the growth in the healthcare industry, this industry is highly focusing on advanced technology to enhance the customer experience. The healthcare industry services virtual reality throughout its various sectors to deliver a higher quality of care and efficiency to its end customers such as a medical professional. This technology is highly used for surgical preparation for patient illness education and therapy.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
There are various companies are operating in this industry, and they are exploring in the new geographical regions by adopting various marketing strategies such as mergers & acquisitions, expansions, investments, new product launches, and collaborations. There is an increasing number of new market entrants in this market because of the growing opportunities in this market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Virtual Reality (VR) in Healthcare market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CAE Healthcare (Canada), Firsthand Technology (United States), EON Reality (United States), GE Healthcare (United States), Intuitive Surgical (United States), Medtronic (Ireland), Mimic Technologies (United States), Philips Healthcare (Netherlands), Siemens Healthineers (Germany) and Surgical Science (Sweden) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Laerdal (Norway), 3D Systems, Inc. (United States) and Hologic (United States).
Segmentation Overview
AMA Research has segmented the market of Global Virtual Reality (VR) in Healthcare market by , Application (Surgical Training, Surgical Navigation and Others) and Region.
On the basis of geography, the market of Virtual Reality (VR) in Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Virtual Reality (VR) in Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Growth in Application Areas Across North America and Increasing Numbers of VR Based Start-Ups Across Asia Pacific Regions
Market Growth Drivers:
Increasing in Incorporation of Technology & Digitalization in the Healthcare Industry, Advancement in Funding & Players Are Focusing on Delivery of Efficient Health Services and Development Training Healthcare Professionals
Challenges:
Growing Concerns Regarding Data Privacy
Restraints:
Absence of Healthcare Professionals with AR Knowledge in this Industry
Opportunities:
Growing Requirement for VR In Developing Economics Such as China, and India and High Adoption of Augmented Reality and Virtual Reality in Fitness Management
Market Leaders and their expansionary development strategies
In June 2023, Osso VR, a leader in immersive surgical training, has launched Osso Academy, a comprehensive virtual reality (VR) training program tailored for academic medical centers and residency programs. Developed in collaboration with world-renowned surgeons and medical educators, Osso Academy offers an extensive curriculum built on leading-edge simulation technology to provide continuous hands-on training and assessment on demand.
In Sep 2019, XRHealth and Magic Leap revealed their partnership for the enhancement of virtual reality in the medical industry. Through this joint venture, XRHealth brings health and wellness solutions to Magic Leap devices. It becomes a platform that delivers spatial computing applications for rehabilitation and others.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Virtual Reality in Healthcare Service Providers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.