According to the latest report by IMARC Group, titled “Virtual Reality (VR) in Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global virtual reality (VR) in healthcare market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global virtual reality (VR) In healthcare market size reached US$ 657.0 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 3,366.1 Million by 2028, exhibiting a growth rate (CAGR) of 29.5% during 2023-2028.

Virtual reality (VR) in healthcare represents the use of immersive technologies and powerful diagnostic tools that allow healthcare professionals and patients to interact with simulated environments. They consist of VR semiconductor components, VR devices, VR sensors, etc., that allow doctors and surgeons to get access and view areas inside the body that would traditionally be impossible to reach. VR in healthcare solutions enable the use of minimally invasive surgery, allow doctors and patients to communicate from anywhere while evaluating medical progress in real-time, and facilitates efficient patient care management. They even prove extremely effective in planning, diagnosing, and treating depression, phobia, autism, and addiction. Consequently, VR in healthcare systems are in extensive demand across the globe.

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Market Trends 

The growing adoption of connected devices in hospitals and clinics and the shifting preferences toward incorporating virtual reality and augmented reality (VR and AR) with intricate medical procedures, such as pain management, social cognition training, damage evaluation, rehabilitation, etc., are primarily driving the virtual reality (VR) in healthcare market. Additionally, the increasing advancements in dependable medical hardware and software development and the introduction of smart wearable VR devices, including fit bands, fitness trackers, goggles, headsets, etc., are acting as significant growth-inducing factors. Apart from this, the elevating incidences of chronic health disorders, especially among the geriatric population, are also positively influencing the global market. Moreover,

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

AppliedVR Inc., EchoPixel Inc., EON Reality, Firsthand Technology Inc., ImmersiveTouch Inc., Koninklijke Philips NV, Microsoft Corporation, Siemens Healthineers AG (Siemens AG), Surgical Science Sweden AB, SyncThink Inc., Virtually Better Inc. and XRHealth. . 

Report segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

• Hardware
• Software and Services 

Breakup by Technology:

• Head-Mounted
• Gesture-Tracking
• Projector and Display Walls

Breakup by Product:

• VR Semiconductor Components
• VR Devices
• VR Sensors
• Others

Breakup by Application:

• Pain Management
• Medical Training and Education
• Surgery
• Patient Care Management
• Rehabilitation and Therapy Procedures
• Others

Breakup by End User:

• Hospitals and Clinics
• Research Laboratories
• Others

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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