Virtual Reality in Healthcare Market Worth $33.72 Billion, Globally, by 2027 at 41.2% CAGR: Verified Market Research

- The occurrence of pain management due to chronic pain after surgery and delay in recovery is a substantial factor for the rise in market growth

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Jul 02, 2020, 09:14 ET

JERSEY CITY, New Jersey, July 2, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Virtual Reality in Healthcare Market by Component (Hardware, Software, and Content), by Application (Pain Management, Education and Training, Surgery, Patient Care Management, Rehabilitation, Therapy Procedure & Post-Traumatic Stress Disorder (PTSD))". According to Verified Market Research, the Global Virtual Reality in Healthcare Market was valued at USD 2.14 Billion in 2019 and is projected to reach USD 33.72 Billion by 2027, growing at a CAGR of 41.2% from 2020 to 2027.

Virtual Reality In Healthcare Market Analysis & Forecast, 2020-2027

This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

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Browse in-depth TOC on "Virtual Reality in Healthcare Market"

202- Pages
156 – Tables
34 – Figures

Global Virtual Reality in Healthcare Market Overview

The occurrence of pain management due to chronic pain after surgery and delay in recovery is a substantial factor for the rise of Virtual Reality in the Healthcare market. Virtual reality emerges as a suitable alternative which calms the patient before and during the painful medical procedures. The rise in investments of organizations by Research and Development in Virtual Reality (VR) in Healthcare is a significant aspect, which will reduce the healthcare cost and will drive the market growth. The health insurers have made large investments in the shift from cure to prevention, and features of health plans are already being accepted by the consumer population. In encouraging people to stay healthy, the challenge is to help them visualize how minor changes can add up to large differences – how a healthy diet and regular exercise can benefit the patients in the long run. In December 2019, the VR headsets were used at the patients of St George Hospital in the UK. 100% of patients reported that their hospital experience had improved, and 94% said they felt quite relaxed, and 80% experienced minimum pain after wearing the headset, and 73% felt less anxious.

The rise of virtual reality healthcare startups is predicted to increase market growth. For instance, Mindmaze, a neurotechnology company, utilizes the VR headsets and brain imaging procedure to aid stroke victims to recover after an injury. Its technology is used to relieve phantom pain for amputees. The cost of Virtual Headsets is less as compared to the expensive surgical instruments and devices. Other features such as ongoing activities responsible for developing the Virtual Reality Infrastructure will augment the market growth. The major players in the market are Google, Samsung, Atheer Inc, InTouch Technologies, Augmedix, Inc, Firsthand Technology, Microsoft, Medical Realties, Mindmaze, Psious.

Verified Market Research has segmented the Virtual Reality in Healthcare Market on the basis of Component, Application, Geography

Virtual Reality in Healthcare Market by Component

Hardware
Software
Content

Virtual Reality in Healthcare Market by Application

Pain Management
Education and Training
Surgery
Patient Care Management
Rehabilitation
Therapy Procedure & Post-Traumatic Stress Disorder

Virtual Reality in Healthcare Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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