Metaverse in Healthcare Market to grow at a CAGR of 34.92% by 2027 | Advantages of Metaverse in Healthcare Market to Boost Growth - Technavio

NEW YORK, July 21, 2023 /PRNewswire/ -- The metaverse in healthcare market size is estimated to increase by USD 5,624.07 million from 2022 to 2027, at a CAGR of 34.92%, according to the recent market study by Technavio. North America will contribute 43% to the growth of the global market during the forecast period. The metaverse in the healthcare market in the region is primarily driven by the advanced and mature technology landscape across the healthcare industry. The rising healthcare spending and rising digitization in North America are also boosting this growth. Moreover, increasing urbanization and increasing disposable income in North American countries are expected to increase the adoption of the healthcare metaverse across the regional healthcare industry during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Metaverse In Healthcare Market - Segmentation Assessment
Segment Overview

The market is segmented by component (hardware and software), application (medical and surgical training, diagnosis and treatments, pre and post-surgery planning, remote monitoring, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).

• The hardware segment of the global metaverse in the healthcare market comprises head-mounted displays (HMDs), sensors, motion-tracking systems, and haptic devices. The hardware segment of the global metaverse in the healthcare market dominates due to its high volumes of manufacturing. Considering the intense competition in developing augmented and virtual reality (VR) solutions, manufacturers are developing technologically advanced devices which will combine edge and quantum computing and robotics that can be synchronized with other devices. The hardware segment is expected to grow at a faster rate than the software segment during the forecast period.

Insights on the market contribution of various segments including country and region wise, historic market size (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Metaverse In Healthcare Market - Market Dynamics

Major Driver -

• The key factor driving growth in the metaverse is the advantages of metaverse in healthcare market.
•  A key driver for the increasing adoption of a metaverse in healthcare is that metaverse solutions eliminate issues that arise because of human errors and fatigue, which, in turn, results in improved quality of services across the healthcare industry. Software and hardware systems are not prone to committing the same kind of errors as people, such as loss of focus, and therefore, these systems provide a consistent level of accuracy and quality output. Any deviation from the care plan of a patient can be easily detected and rectified with the implementation of a metaverse in healthcare solutions.
• With the growing focus on patient-centricity and the increasing importance of the patient experience in the healthcare industry, there is an increasing demand for metaverse in healthcare solutions for effective patient service management. Thus, owing to the benefits, metaverse in healthcare has been significantly gaining importance, especially in North America and Europe.

Market Trends -

• The growing implementation of metaverse in healthcare is an emerging market trend.
• Effective implementation of metaverse solutions can reduce the time and money required to test and diagnose a wide variety of disorders and diseases. In February 2022, Apollo Hospitals Group announced a collaboration with 8chili Inc. to enable the engagement of the company in the metaverse.
• Hence, the growing implementation of metaverse in healthcare is expected to propel the market in focus during the forecast period.

Market Challenges -

• The infrastructural and integration issues will be a major challenge for the metaverse in the healthcare market. 
• The practical implementation of metaverse solutions requires access to high-speed and high-bandwidth Internet. Any issue such as connectivity, lack of electricity, or slow network may lead to system downtime and hamper business productivity. This is a key challenge for effectively implementing advanced systems in the healthcare industry, especially in developing countries.
• The pharmaceutical supply chain of healthcare supplies, which plays a key role in the healthcare industry, is complex and involves different hardware, legacy systems, and data management, making system integration across the supply chain extremely complicated. Therefore, the implementation of metaverse in healthcare is hampered by various infrastructural and system integration issues.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Metaverse In Healthcare Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the metaverse in healthcare market between 2023 and 2027
• Precise estimation of the size of the metaverse in healthcare market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the metaverse in healthcare market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of metaverse in healthcare market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global metaverse in healthcare market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global metaverse in healthcare market 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Hardware - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 6.4 Software - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)
• Exhibit 43: Data Table on Market opportunity by Component ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Medical and surgical trainings - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Medical and surgical trainings - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Medical and surgical trainings - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Medical and surgical trainings - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Medical and surgical trainings - Year-over-year growth 2022-2027 (%)

• 7.4 Diagnosis and treatments - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Diagnosis and treatments - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Diagnosis and treatments - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Diagnosis and treatments - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Diagnosis and treatments - Year-over-year growth 2022-2027 (%)

• 7.5 Pre and post surgery planning - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Pre and post surgery planning - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Pre and post surgery planning - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Pre and post surgery planning - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Pre and post surgery planning - Year-over-year growth 2022-2027 (%)

• 7.6 Remote monitoring - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Remote monitoring - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Remote monitoring - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Remote monitoring - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Remote monitoring - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Application 
• Exhibit 68: Market opportunity by Application ($ million)
• Exhibit 69: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 Asia - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Asia - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Asia - Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 9.7 US - Market size and forecast 2022-2027 
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 Canada - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 107: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 3D Systems Corp.
• Exhibit 119: 3D Systems Corp. - Overview
• Exhibit 120: 3D Systems Corp. - Business segments
• Exhibit 121: 3D Systems Corp. - Key news
• Exhibit 122: 3D Systems Corp. - Key offerings
• Exhibit 123: 3D Systems Corp. - Segment focus

• 12.4 8chili Inc.
• Exhibit 124: 8chili Inc. - Overview
• Exhibit 125: 8chili Inc. - Product / Service
• Exhibit 126: 8chili Inc. - Key offerings

• 12.5 AccuVein Inc.
• Exhibit 127: AccuVein Inc. - Overview
• Exhibit 128: AccuVein Inc. - Product / Service
• Exhibit 129: AccuVein Inc. - Key offerings

• 12.6 BioflightVR
• Exhibit 130: BioflightVR - Overview
• Exhibit 131: BioflightVR - Product / Service
• Exhibit 132: BioflightVR - Key offerings

• 12.7 CAE Inc.
• Exhibit 133: CAE Inc. - Overview
• Exhibit 134: CAE Inc. - Business segments
• Exhibit 135: CAE Inc. - Key offerings
• Exhibit 136: CAE Inc. - Segment focus

• 12.8 Eon Reality Inc.
• Exhibit 137: Eon Reality Inc. - Overview
• Exhibit 138: Eon Reality Inc. - Product / Service
• Exhibit 139: Eon Reality Inc. - Key offerings

• 12.9 Intuitive Surgical Inc. 
• Exhibit 140: Intuitive Surgical Inc. - Overview
• Exhibit 141: Intuitive Surgical Inc. - Product / Service
• Exhibit 142: Intuitive Surgical Inc. - Key offerings

• 12.10 Koninklijke Philips NV 
• Exhibit 143: Koninklijke Philips NV - Overview
• Exhibit 144: Koninklijke Philips NV - Business segments
• Exhibit 145: Koninklijke Philips NV - Key news
• Exhibit 146: Koninklijke Philips NV - Key offerings
• Exhibit 147: Koninklijke Philips NV - Segment focus

• 12.11 Medical Realities Ltd. 
• Exhibit 148: Medical Realities Ltd. - Overview
• Exhibit 149: Medical Realities Ltd. - Product / Service
• Exhibit 150: Medical Realities Ltd. - Key offerings

• 12.12 Microsoft Corp.
• Exhibit 151: Microsoft Corp. - Overview
• Exhibit 152: Microsoft Corp. - Business segments
• Exhibit 153: Microsoft Corp. - Key news
• Exhibit 154: Microsoft Corp. - Key offerings
• Exhibit 155: Microsoft Corp. - Segment focus

• 12.13 MindMaze SA
• Exhibit 156: MindMaze SA - Overview
• Exhibit 157: MindMaze SA - Product / Service
• Exhibit 158: MindMaze SA - Key offerings

• 12.14 Oodles Technologies
• Exhibit 159: Oodles Technologies - Overview
• Exhibit 160: Oodles Technologies - Product / Service
• Exhibit 161: Oodles Technologies - Key offerings

• 12.15 Siemens Healthineers AG 
• Exhibit 162: Siemens Healthineers AG - Overview
• Exhibit 163: Siemens Healthineers AG - Business segments
• Exhibit 164: Siemens Healthineers AG - Key news
• Exhibit 165: Siemens Healthineers AG - Key offerings
• Exhibit 166: Siemens Healthineers AG - Segment focus

• 12.16 Wipro Ltd.
• Exhibit 167: Wipro Ltd. - Overview
• Exhibit 168: Wipro Ltd. - Business segments
• Exhibit 169: Wipro Ltd. - Key news
• Exhibit 170: Wipro Ltd. - Key offerings
• Exhibit 171: Wipro Ltd. - Segment focus

• 12.17 WorldViz Inc.
• Exhibit 172: WorldViz Inc. - Overview
• Exhibit 173: WorldViz Inc. - Product / Service
• Exhibit 174: WorldViz Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 175: Inclusions checklist
• Exhibit 176: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 177: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 178: Research methodology
• Exhibit 179: Validation techniques employed for market sizing
• Exhibit 180: Information sources

• 13.5 List of abbreviations 
• Exhibit 181: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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