VR in Healthcare Market Overview

VR in Healthcare Market Expected to Reach $2.38 Billion by 2026—Allied Market Research

PORTLAND, OREGON, UNITED STATE, July 14, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “VR in Healthcare Market by Product, Technology, and End User: Opportunity Analysis and Industry Forecast, 2019-2026” the global VR in healthcare market was valued at $0.24 billion in 2018 and is projected to reach $2.38 billion by 2026, registering a CAGR of 33.18% from 2019 to 2026.

The factors that drive the growth of the VR in healthcare include increase in usage of virtual reality in diagnostic imaging, rehabilitation, and surgical simulation along with rise in number if VR start-ups across the globe. In addition, growth in private and public investments for developing VR technologies in healthcare is expected to propel the growth of VR in healthcare market. However, data privacy concerns of the technology users are anticipated to hamper the growth of the VR in healthcare market.

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Key Market Players

Microsoft Corporation
Alphabet Inc. (Google)
General Electric
Koninklijke Philips N.V. (Philips)
SyncThink Inc.
Firsthand Technology Inc.
AppliedVR, Inc.
EchoPixel
DAQRI
Orca Health, Inc.

quote “The growth of the VR in healthcare market is driven by increase in use of virtual reality in the fields of healthcare and medicine. Moreover, rise in incidences of neurological disorders, such as spinal cord injury, multiple sclerosis, stroke, dementia, and Parkinson's, and increase in number of VR-based startups are expected to fuel the market growth.” quote

Key Findings Of The Study

By product, the VR semiconductor components segment occupied 12.25% share of the VR in healthcare market in 2018.

By technology, head mounted technology segment is anticipated to grow with the highest CAGR throughout the forecast period.

The hospital and clinics segment accounted for 57.7% share of the market in 2018

The VR in healthcare market is classified based on technology, product type, end-user and region. Based on technology, the market is divided into head-mounted, gesture-tracking, and projector & display walls. The projector & display walls segment is currently dominating the global VR in healthcare market and is expected to remain dominant during the forecast period, owing to increase in usage and convenience of the projector & display walls such as touch screen devices, tablets, smart phones, and monitors, among others. However, the head mounted technology segment is projected to witness significant growth due to increase in demand for head-mounted devices in the fields of medicine and research.

FREQUENTLY ASKED QUESTIONS?

Q1. What is the total market value of VR In Healthcare Market report ?
A. The total market value of VR In Healthcare Market is $2,383.6 million in 2018.

Q2. What would be forecast period in the market report?
A. The forecast period for VR In Healthcare Market is 2019 to 2026

Q3. What is the market value of VR In Healthcare Market in 2019?
A. The market value of VR In Healthcare Market in 2019 is $320.8 million

Q4. Which is base year calculated in the VR In Healthcare Market report?
A. The base year is 2018 in VR In Healthcare Market

Key Market Segments
By Technology
Head-Mounted Technology
Gesture-Tracking Technology
Projector & Display Walls Technology
By Product
VR Semiconductor Components
VR Devices
VR Sensors
Others

Based on product type, the global VR in healthcare market is categorized into VR semiconductor components, VR devices, VR sensors, and others. The VR sensors segment was the major contributor in 2018 and is anticipated to continue this trend during the forecast period due to increase in usage of sensors in movement and gesture tracking in several cancer and neurological surgeries. Based on end user, the hospitals and clinics segment is the highest revenue contributor, owing to growth in adoption of VR in medical training and education.

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