PUBLISHER: The Business Research Company | PRODUCT CODE: 1619755
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619755
The metaverse in surgical operations involves using virtual and augmented reality platforms to create immersive, collaborative environments for surgical planning, training, and remote surgeries. It enables surgeons to practice complex procedures, visualize 3D anatomical structures, and collaborate with other specialists in real-time, regardless of their location. This technology enhances precision, reduces errors, and improves patient outcomes.
The main components of the metaverse in surgical operations include hardware, software, and services. Hardware consists of physical elements used in surgical operations, such as surgical robots, VR headsets, AR glasses, MR devices, and other specialized equipment. The technologies involved include virtual reality (VR), augmented reality (AR), and mixed reality (MR). These are applied in various areas such as surgical training, telehealth, preoperative planning, and more, and are utilized by end users such as hospitals and surgical centers, medical training institutes, and telemedicine providers.
The metaverse in surgical operations market research report is one of a series of new reports from The Business Research Company that provides metaverse in surgical operations market statistics, including metaverse in surgical operations industry global market size, regional shares, competitors with a metaverse in surgical operations market share, detailed metaverse in surgical operations market segments, market trends, and opportunities, and any further data you may need to thrive in the metaverse in surgical operations industry. This metaverse in surgical operations research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The metaverse in surgical operations market size has grown exponentially in recent years. It will grow from $6.84 billion in 2023 to $9.18 billion in 2024 at a compound annual growth rate (CAGR) of 34.2%. The growth in the historic period is attributed to the increasing focus on preparedness for global health crises, rising demand for innovative training and simulation tools in medical education, enhanced precision and success rates of operations, expansion of the metaverse in surgical operations, and growing use of metaverse technologies.
The metaverse in surgical operations market size is expected to see exponential growth in the next few years. It will grow to $29.92 billion in 2028 at a compound annual growth rate (CAGR) of 34.4%. The growth in the forecast period is attributed to the increasing complexity of surgical procedures and the need for realistic training environments, rising healthcare needs of populations, greater use of metaverse technologies, further integration of these technologies, and a growing adoption of digital solutions in healthcare. Key trends during this period include advancements in telesurgery, promotion of innovation, technological progress, remote collaboration and consultation, and the integration of artificial intelligence.
The rising demand for digital healthcare is expected to drive the growth of the metaverse in the surgical operations market. Digital healthcare refers to a wide array of technologies and services that integrate digital tools into healthcare delivery. The demand for digital healthcare is fueled by factors such as improved access to care, enhanced patient engagement and experience, and better continuity of care. In surgical operations, the metaverse enhances outcomes by offering immersive virtual simulations, facilitating remote collaborations, and providing real-time data visualization to improve precision. For example, in March 2024, the National Health Service (NHS) in England reported an increase in NHS App registrations from 2 million in 2021 to 30 million in 2023. This growing demand for digital healthcare is contributing to the expansion of the metaverse in surgical operations.
Leading companies in the metaverse for surgical operations market are concentrating on creating interactive 3D holograms to advance surgical planning and precision, improve training and education for medical professionals, and offer real-time guidance during procedures. Interactive 3D holograms are sophisticated imaging tools that generate three-dimensional views of anatomical structures and surgical areas. For example, in January 2024, HoloCare AS, a Sweden-based firm specializing in holographic solutions for healthcare and medical training, introduced 3D surgical holograms. This technology allows surgeons to visualize a patient's anatomy in an interactive 3D format, which is particularly beneficial for complex surgeries such as liver operations. This innovation is expected to significantly enhance surgical fields and patient outcomes across Europe.
In February 2022, Apollo Hospitals Group, an India-based healthcare provider offering integrated healthcare services, partnered with 8chili Inc. for an undisclosed sum. This collaboration aims to improve patient engagement and outcomes by using virtual reality (VR) for pre- and post-operative counseling, helping patients manage their emotional and physiological responses more effectively. 8chili, a California-based company, specializes in virtual reality training and engagement, contributing its expertise to enhance Apollo Hospitals' healthcare offerings.
Major companies operating in the metaverse in surgical operations market are Microsoft Corporation, Meta Platforms Inc., Novartis International AG, Medtronic Plc, NVIDIA Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Stryker Corporation, Intuitive Surgical Inc., Smith And Nephew Plc, Hologic Inc., Canon Medical Systems Corporation, CAE Healthcare, 3D Systems Corporation, Brainlab AG, Osso VR, Surgical Science, Touch Surgery, Augmedics, XRHealth, VirtaMed AG, FundamentalVR, OssimTech, Precision OS, EchoPixel
North America was the largest region in the metaverse in surgical operations market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metaverse in surgical operations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the metaverse in surgical operations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The metaverse in surgical operations market consists of revenues earned by entities by providing services such as telesurgery and preoperative planning. The market value includes the value of related goods sold by the service provider or included within the service offering. The metaverse in the surgical operation market also includes sales of head-mounted displays, advanced navigation systems, and motion tracking systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Metaverse In Surgical Operations Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on metaverse in surgical operations market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for metaverse in surgical operations ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The metaverse in surgical operations market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.