PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530700
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530700
Virtual Reality in Healthcare Market Forecasts to 2030 - Global Analysis By Component, Application, End User and By Geography
According to Stratistics MRC, the Global Virtual Reality in Healthcare Market is accounted for $4.05 billion in 2024 and is expected to reach $19.37 billion by 2030 growing at a CAGR of 29.8% during the forecast period. Virtual Reality (VR) in healthcare refers to the use of immersive simulated environments created with computer-generated experiences to enhance medical treatment, training, and patient care. By donning VR headsets, users can be transported to virtual worlds where they can interact with objects, people, and scenarios that mimic real-life situations or provide therapeutic interventions. For instance, VR can help patients manage pain by diverting their attention away from discomfort through engaging virtual experiences. Surgeons can practice complex procedures in a safe, simulated environment before performing them on actual patients, thereby reducing risks and improving outcomes.
According to the Invest India report, in 2022, the health sector in the country witnessed an increase of USD 370 billion in investments. According to the Healthcare Investments and Exits Annual Report 2022, the Europe region's overall healthcare investments have more than doubled from USD 16 billion in 2017 to USD 86 billion in 2021.
Market Dynamics:
Driver:
Rising trend of wearable technology
Wearable devices such as VR headsets are transforming patient care by immersing individuals in simulated environments that aid in pain management, therapy sessions, and even surgical training. These devices provide a more interactive and personalized healthcare experience, allowing for real-time monitoring of vital signs and patient responses. For instance, VR technology integrated into wearable platforms can help patients undergoing physical therapy by creating engaging exercises tailored to their recovery needs. Moreover, these innovations extend beyond patient care to medical education, where VR simulations enable students and practitioners to practice complex procedures in a risk-free environment.
Restraint:
High Cost of equipment
The high cost of equipment remains a significant barrier to the widespread adoption of virtual reality (VR) in healthcare. VR technology offers promising applications such as surgical training, pain management, and therapy, but the expense associated with quality headsets, software development, and maintenance often limits its integration into healthcare settings. However, the rapid pace of technological advancements means that newer, more effective VR systems are frequently released, further complicating financial decisions for healthcare administrators.
Opportunity:
Increasing application of VR in patient treatment
The growing integration of Virtual Reality (VR) technology in healthcare is revolutionizing patient treatment and therapy. VR offers immersive experiences that can be tailored to meet various medical needs, from pain management to psychological therapy and rehabilitation. By creating virtual environments that simulate real-life scenarios or therapeutic exercises, healthcare providers can enhance patient engagement and outcomes. In psychological therapy, VR enables exposure therapy for treating phobias and post-traumatic stress disorder by safely recreating triggering situations. Moreover, VR-based rehabilitation programs allow patients to practice motor skills in a controlled, supportive environment and improving recovery outcomes.
Threat:
Data security and privacy
Data security and privacy concerns pose significant challenges to the integration of virtual reality (VR) in healthcare. VR technology has immense potential to revolutionize medical training, patient therapy, and surgical procedures by offering immersive and realistic simulations. However, the sensitive nature of healthcare data, including patient records and medical images, demands stringent security measures to protect against unauthorized access and breaches.
Covid-19 Impact:
The COVID-19 pandemic significantly accelerated the adoption and application of virtual reality (VR) in healthcare. With restrictions on physical interactions and heightened infection concerns, VR emerged as a valuable tool for medical training, therapy, and patient care. Healthcare providers leveraged VR for immersive training simulations, allowing practitioners to refine skills and procedures remotely. In mental health, VR-based therapies provided a lifelike setting for exposure therapy and stress management, aiding patients isolated by lockdowns or quarantine measures.
The Software segment is expected to be the largest during the forecast period
Software segment is expected to be the largest during the forecast period by enhancing various aspects of patient care and medical training. VR software enables immersive simulations that replicate medical procedures, anatomy exploration, and patient environments, offering a safe space for training healthcare professionals and students. Surgeons can practice complex surgeries in a realistic virtual environment before performing them on patients, thereby improving surgical precision and reducing risks. Moreover, VR software is transforming patient therapy by creating personalized, interactive experiences that aid in pain management, rehabilitation, and mental health treatment.
The Patient Care Management segment is expected to have the highest CAGR during the forecast period
Patient Care Management segment is expected to have the highest CAGR during the forecast period. VR technology offers immersive experiences that benefit both patients and healthcare providers. For patients, VR can alleviate pain and anxiety through immersive distractions during procedures or treatments, thereby reducing the need for sedatives or painkillers. It also enables therapists to create virtual environments tailored to rehabilitation needs, enhancing recovery outcomes. Healthcare providers utilize VR for training simulations, allowing medical professionals to practice complex procedures in a safe and controlled virtual environment before performing them on patients.
Region with largest share:
Europe region commanded the largest market share during the extrapolated period. Neurological disorders such as Alzheimer's disease, Parkinson's disease, and stroke are increasingly prevalent due to aging populations and lifestyle factors across the region. VR technology offers promising solutions by providing immersive environments for therapy, rehabilitation, and cognitive training throughout the Europe region. The European healthcare sector has embraced VR as a transformative tool, leveraging its potential to improve patient care, reduce treatment costs and enhance medical education.
Region with highest CAGR:
Europe region is poised to hold lucrative growth over the projection period. Government regulations are fostering a supportive environment by ensuring safety, efficacy and ethical standards in the development and deployment of VR applications throughout the region. By mandating stringent guidelines for VR healthcare solutions, European authorities are promoting innovation while safeguarding patient interests and data privacy. Moreover, regulatory frameworks are encouraging collaboration between technology developers, healthcare providers and regulatory bodies to streamline the integration of VR into medical practice across the region.
Key players in the market
Some of the key players in Virtual Reality in Healthcare market include BioflightVR, CAE Healthcare, Intuitive Surgical, Inc, Medical Realities Ltd, Orca Health, Inc, Orthus Health, Pear Therapeutics, Siemens Healthineers, SimforHealth and XRHealth USA, Inc.
Key Developments:
In October 2023, Lumeto, a Canada-based healthcare simulation company, incorporated AI upgrades into its InvolveXR platform. This platform is a fully immersive simulation lab to provide training and assessment across healthcare professionals
In November 2022, GE Healthcare collaborated with Mediview XR, Inc. to integrate medical imaging into mixed reality technology through the development of OmnifyXRTM Interventional Suite System.
In April 2022, XRHealth launched a virtual reality therapy for treating patients with autism. Patients in Australia had previously utilized this therapy, but the company made it available for patients in the U.S. in April 2022.
In March 2022, Immersive Touch, a leading medical technology company, entered into a collaboration with Mayo Clinic to commercialize Immersive Touch's VR surgical planning platform equipped with intra-operative augmented reality surgical navigation technology.
In March 2022, CAE Healthcare launched a non-invasive cardiovascular simulator CAE CathLabVR, that is integrated with Microsoft HoloLens 2, offering realism while practicing the treatment of vascular and cardiac issues.
Components Covered:
- Hardware
- Software
- Services
Applications Covered:
- Post-Traumatic Stress Disorder
- Rehabilitation & Therapy Procedures
- Patient Care Management
- Surgery
- Education & Training
- Pain Management
- Other Applications
End Users Covered:
- Research Organizations and Pharma Companies
- Hospitals and Clinics
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Virtual Reality in Healthcare Market, By Component
- 5.1 Introduction
- 5.2 Hardware
- 5.3 Software
- 5.4 Services
6 Global Virtual Reality in Healthcare Market, By Application
- 6.1 Introduction
- 6.2 Post-Traumatic Stress Disorder
- 6.3 Rehabilitation & Therapy Procedures
- 6.4 Patient Care Management
- 6.5 Surgery
- 6.6 Education & Training
- 6.7 Pain Management
- 6.8 Other Applications
7 Global Virtual Reality in Healthcare Market, By End User
- 7.1 Introduction
- 7.2 Research Organizations and Pharma Companies
- 7.3 Hospitals and Clinics
- 7.4 Other End Users
8 Global Virtual Reality in Healthcare Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 BioflightVR
- 10.2 CAE Healthcare
- 10.3 Intuitive Surgical, Inc
- 10.4 Medical Realities Ltd
- 10.5 Orca Health, Inc
- 10.6 Orthus Health
- 10.7 Pear Therapeutics
- 10.8 Siemens Healthineers
- 10.9 SimforHealth
- 10.10 XRHealth USA, Inc
List of Tables
- Table 1 Global Virtual Reality in Healthcare Market Outlook, By Country (2022-2030) ($MN)
- Table 2 Global Virtual Reality in Healthcare Market Outlook, By Component (2022-2030) ($MN)
- Table 3 Global Virtual Reality in Healthcare Market Outlook, By Hardware (2022-2030) ($MN)
- Table 4 Global Virtual Reality in Healthcare Market Outlook, By Software (2022-2030) ($MN)
- Table 5 Global Virtual Reality in Healthcare Market Outlook, By Services (2022-2030) ($MN)
- Table 6 Global Virtual Reality in Healthcare Market Outlook, By Application (2022-2030) ($MN)
- Table 7 Global Virtual Reality in Healthcare Market Outlook, By Post-Traumatic Stress Disorder (2022-2030) ($MN)
- Table 8 Global Virtual Reality in Healthcare Market Outlook, By Rehabilitation & Therapy Procedures (2022-2030) ($MN)
- Table 9 Global Virtual Reality in Healthcare Market Outlook, By Patient Care Management (2022-2030) ($MN)
- Table 10 Global Virtual Reality in Healthcare Market Outlook, By Surgery (2022-2030) ($MN)
- Table 11 Global Virtual Reality in Healthcare Market Outlook, By Education & Training (2022-2030) ($MN)
- Table 12 Global Virtual Reality in Healthcare Market Outlook, By Pain Management (2022-2030) ($MN)
- Table 13 Global Virtual Reality in Healthcare Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 14 Global Virtual Reality in Healthcare Market Outlook, By End User (2022-2030) ($MN)
- Table 15 Global Virtual Reality in Healthcare Market Outlook, By Research Organizations and Pharma Companies (2022-2030) ($MN)
- Table 16 Global Virtual Reality in Healthcare Market Outlook, By Hospitals and Clinics (2022-2030) ($MN)
- Table 17 Global Virtual Reality in Healthcare Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 18 North America Virtual Reality in Healthcare Market Outlook, By Country (2022-2030) ($MN)
- Table 19 North America Virtual Reality in Healthcare Market Outlook, By Component (2022-2030) ($MN)
- Table 20 North America Virtual Reality in Healthcare Market Outlook, By Hardware (2022-2030) ($MN)
- Table 21 North America Virtual Reality in Healthcare Market Outlook, By Software (2022-2030) ($MN)
- Table 22 North America Virtual Reality in Healthcare Market Outlook, By Services (2022-2030) ($MN)
- Table 23 North America Virtual Reality in Healthcare Market Outlook, By Application (2022-2030) ($MN)
- Table 24 North America Virtual Reality in Healthcare Market Outlook, By Post-Traumatic Stress Disorder (2022-2030) ($MN)
- Table 25 North America Virtual Reality in Healthcare Market Outlook, By Rehabilitation & Therapy Procedures (2022-2030) ($MN)
- Table 26 North America Virtual Reality in Healthcare Market Outlook, By Patient Care Management (2022-2030) ($MN)
- Table 27 North America Virtual Reality in Healthcare Market Outlook, By Surgery (2022-2030) ($MN)
- Table 28 North America Virtual Reality in Healthcare Market Outlook, By Education & Training (2022-2030) ($MN)
- Table 29 North America Virtual Reality in Healthcare Market Outlook, By Pain Management (2022-2030) ($MN)
- Table 30 North America Virtual Reality in Healthcare Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 31 North America Virtual Reality in Healthcare Market Outlook, By End User (2022-2030) ($MN)
- Table 32 North America Virtual Reality in Healthcare Market Outlook, By Research Organizations and Pharma Companies (2022-2030) ($MN)
- Table 33 North America Virtual Reality in Healthcare Market Outlook, By Hospitals and Clinics (2022-2030) ($MN)
- Table 34 North America Virtual Reality in Healthcare Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 35 Europe Virtual Reality in Healthcare Market Outlook, By Country (2022-2030) ($MN)
- Table 36 Europe Virtual Reality in Healthcare Market Outlook, By Component (2022-2030) ($MN)
- Table 37 Europe Virtual Reality in Healthcare Market Outlook, By Hardware (2022-2030) ($MN)
- Table 38 Europe Virtual Reality in Healthcare Market Outlook, By Software (2022-2030) ($MN)
- Table 39 Europe Virtual Reality in Healthcare Market Outlook, By Services (2022-2030) ($MN)
- Table 40 Europe Virtual Reality in Healthcare Market Outlook, By Application (2022-2030) ($MN)
- Table 41 Europe Virtual Reality in Healthcare Market Outlook, By Post-Traumatic Stress Disorder (2022-2030) ($MN)
- Table 42 Europe Virtual Reality in Healthcare Market Outlook, By Rehabilitation & Therapy Procedures (2022-2030) ($MN)
- Table 43 Europe Virtual Reality in Healthcare Market Outlook, By Patient Care Management (2022-2030) ($MN)
- Table 44 Europe Virtual Reality in Healthcare Market Outlook, By Surgery (2022-2030) ($MN)
- Table 45 Europe Virtual Reality in Healthcare Market Outlook, By Education & Training (2022-2030) ($MN)
- Table 46 Europe Virtual Reality in Healthcare Market Outlook, By Pain Management (2022-2030) ($MN)
- Table 47 Europe Virtual Reality in Healthcare Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 48 Europe Virtual Reality in Healthcare Market Outlook, By End User (2022-2030) ($MN)
- Table 49 Europe Virtual Reality in Healthcare Market Outlook, By Research Organizations and Pharma Companies (2022-2030) ($MN)
- Table 50 Europe Virtual Reality in Healthcare Market Outlook, By Hospitals and Clinics (2022-2030) ($MN)
- Table 51 Europe Virtual Reality in Healthcare Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 52 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Country (2022-2030) ($MN)
- Table 53 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Component (2022-2030) ($MN)
- Table 54 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Hardware (2022-2030) ($MN)
- Table 55 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Software (2022-2030) ($MN)
- Table 56 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Services (2022-2030) ($MN)
- Table 57 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Application (2022-2030) ($MN)
- Table 58 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Post-Traumatic Stress Disorder (2022-2030) ($MN)
- Table 59 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Rehabilitation & Therapy Procedures (2022-2030) ($MN)
- Table 60 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Patient Care Management (2022-2030) ($MN)
- Table 61 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Surgery (2022-2030) ($MN)
- Table 62 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Education & Training (2022-2030) ($MN)
- Table 63 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Pain Management (2022-2030) ($MN)
- Table 64 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 65 Asia Pacific Virtual Reality in Healthcare Market Outlook, By End User (2022-2030) ($MN)
- Table 66 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Research Organizations and Pharma Companies (2022-2030) ($MN)
- Table 67 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Hospitals and Clinics (2022-2030) ($MN)
- Table 68 Asia Pacific Virtual Reality in Healthcare Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 69 South America Virtual Reality in Healthcare Market Outlook, By Country (2022-2030) ($MN)
- Table 70 South America Virtual Reality in Healthcare Market Outlook, By Component (2022-2030) ($MN)
- Table 71 South America Virtual Reality in Healthcare Market Outlook, By Hardware (2022-2030) ($MN)
- Table 72 South America Virtual Reality in Healthcare Market Outlook, By Software (2022-2030) ($MN)
- Table 73 South America Virtual Reality in Healthcare Market Outlook, By Services (2022-2030) ($MN)
- Table 74 South America Virtual Reality in Healthcare Market Outlook, By Application (2022-2030) ($MN)
- Table 75 South America Virtual Reality in Healthcare Market Outlook, By Post-Traumatic Stress Disorder (2022-2030) ($MN)
- Table 76 South America Virtual Reality in Healthcare Market Outlook, By Rehabilitation & Therapy Procedures (2022-2030) ($MN)
- Table 77 South America Virtual Reality in Healthcare Market Outlook, By Patient Care Management (2022-2030) ($MN)
- Table 78 South America Virtual Reality in Healthcare Market Outlook, By Surgery (2022-2030) ($MN)
- Table 79 South America Virtual Reality in Healthcare Market Outlook, By Education & Training (2022-2030) ($MN)
- Table 80 South America Virtual Reality in Healthcare Market Outlook, By Pain Management (2022-2030) ($MN)
- Table 81 South America Virtual Reality in Healthcare Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 82 South America Virtual Reality in Healthcare Market Outlook, By End User (2022-2030) ($MN)
- Table 83 South America Virtual Reality in Healthcare Market Outlook, By Research Organizations and Pharma Companies (2022-2030) ($MN)
- Table 84 South America Virtual Reality in Healthcare Market Outlook, By Hospitals and Clinics (2022-2030) ($MN)
- Table 85 South America Virtual Reality in Healthcare Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 86 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Country (2022-2030) ($MN)
- Table 87 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Component (2022-2030) ($MN)
- Table 88 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Hardware (2022-2030) ($MN)
- Table 89 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Software (2022-2030) ($MN)
- Table 90 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Services (2022-2030) ($MN)
- Table 91 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Application (2022-2030) ($MN)
- Table 92 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Post-Traumatic Stress Disorder (2022-2030) ($MN)
- Table 93 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Rehabilitation & Therapy Procedures (2022-2030) ($MN)
- Table 94 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Patient Care Management (2022-2030) ($MN)
- Table 95 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Surgery (2022-2030) ($MN)
- Table 96 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Education & Training (2022-2030) ($MN)
- Table 97 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Pain Management (2022-2030) ($MN)
- Table 98 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 99 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By End User (2022-2030) ($MN)
- Table 100 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Research Organizations and Pharma Companies (2022-2030) ($MN)
- Table 101 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Hospitals and Clinics (2022-2030) ($MN)
- Table 102 Middle East & Africa Virtual Reality in Healthcare Market Outlook, By Other End Users (2022-2030) ($MN)
