PUBLISHER: The Business Research Company | PRODUCT CODE: 1657079
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657079
Virtual reality (VR) is a computer-generated environment designed to appear real to the user, allowing them to perceive and interact with it as if it were an actual environment. It is utilized in medical education, surgical simulations, pain management, and rehabilitation, contributing to improved patient care and professional training.
In the healthcare sector, virtual reality comprises two main components, hardware and software. The hardware segment includes headsets, goggles, and additional accessories utilized in healthcare facilities for purposes such as medical training and conducting virtual surgeries. These devices aim to immerse users in a 3D environment. VR in healthcare utilizes technologies such as full-immersive virtual reality, non-immersive virtual reality, and semi-immersive virtual reality, incorporating various device types like head-mounted displays, gesture-tracking devices, projectors, and display units. Its applications span research and diagnostics, laboratories, hospitals, clinics, pharmaceutical companies, and more, with uses in patient care management, education and training, fitness management, pharmacy, surgery, and other areas.
The virtual reality in healthcare market research report is one of a series of new reports from The Business Research Company that provides statistics on virtual reality in the healthcare market, including global market size, regional shares, competitors with a virtual reality in healthcare market share, detailed virtual reality in healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the virtual reality in healthcare industry. This virtual reality in healthcare market 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 virtual reality in healthcare market size has grown exponentially in recent years. It will grow from $4.19 billion in 2024 to $6.02 billion in 2025 at a compound annual growth rate (CAGR) of 43.8%. The growth in the historic period can be attributed to rise of chronic diseases, pain management and distractionTherapy, telemedicine and remote consultations, patient-centric healthcare approach, increased acceptance by healthcare professionals.
The virtual reality in healthcare market size is expected to see exponential growth in the next few years. It will grow to $29.13 billion in 2029 at a compound annual growth rate (CAGR) of 48.3%. The growth in the forecast period can be attributed to remote training and simulation, integration with wearable devices, real-time surgical assistance, immersive therapy for neurological disorders, expanding applications in medical training. Major trends in the forecast period include advancements VR technology, ai integration for personalized treatment, enhanced visualization in medical imaging, VR-based preoperative planning, virtual health communities.
The increasing prevalence of neurological disorders is propelling the expansion of the virtual reality in the healthcare market. Neurological disorders, including Alzheimer's disease, Parkinson's disease, dementia, multiple sclerosis, and migraines, impact the central nervous system. Immersive Virtual Reality (VR) technology is proving beneficial for developing applications to treat these disorders. Virtual Reality in Neurology is cost-effective, patient-friendly, and applicable to both normal and pathological aging. It offers ecological validity not provided by standard neuropsychological tests. For example, the World Health Organization (WHO) reported in February 2022 that epilepsy affects around 50 million people globally, making it one of the most prevalent neurological conditions. Over 80% of those affected reside in low- and middle-income nations. Consequently, the increasing incidence of neurological disorders is expected to drive the growth of virtual reality in the healthcare sector.
The growth of virtual reality in the healthcare market is expected to be driven by the rise of digital healthcare. Digital healthcare, also known as eHealth or digital health, involves the use of information technology, digital tools, and electronic systems to enhance the delivery, management, and monitoring of healthcare services. Virtual reality is being integrated into digital healthcare to improve medical training, offer therapeutic treatments, manage pain, and support cognitive rehabilitation. For example, in 2022, according to the OECD iLibrary, 93% of primary care practices across 24 OECD countries implemented electronic medical records (EMRs) in hospitals or physician offices. As a result, the increase in digital healthcare is expected to further propel the adoption of virtual reality in the healthcare sector.
Technological advancements are playing a key role in shaping the virtual reality healthcare market. Leading companies in this sector are focusing on developing innovative solutions to strengthen their market position. For example, in June 2023, Amrita Hospital, an Indian-based healthcare provider with cutting-edge facilities, introduced the first extended reality ecosystem in healthcare. The extended reality applications, developed over several years, have successfully treated 150 patients with positive outcomes. In collaboration with Microsoft India, this technology enables medical professionals to visualize organs as holograms, with plans to further enhance immersive teaching tools and telemedicine capabilities.
Strategic partnerships are a prevalent approach among major companies operating in the virtual reality healthcare industry to deliver essential services to individuals, businesses, and governments. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. For instance, in April 2023, Vuzix, a US-based smart eyewear manufacturer, partnered with VSee, a US-based software developer, to develop smart glasses for the telemedicine industry. This collaboration aims to enhance precision, save time and costs for medical practitioners, and facilitate knowledge sharing when needed.
In February 2024, the National Board of Medical Examiners (NBME), a US-based non-profit organization responsible for developing and managing assessments for medical students, acquired MedVR Education for an undisclosed amount. This acquisition aims to enhance NBME's ability to create innovative tools and assessments for medical education. By combining NBME's expertise in psychometrics and test development with MedVR's simulation-based learning technology, the partnership creates opportunities for next-generation tools to support learners throughout their medical education journey. MedVR Education, a US-based company, focuses on using virtual reality in healthcare to enhance medical training and provide immersive educational tools for professionals.
Major companies operating in the virtual reality in healthcare market include SAMSUNG Electronics Co. Ltd., Atheer Inc., Augmedix Inc., Firsthand Technology Inc., Microsoft Corporation, Medical Realities Ltd., MindMaze, Medtronic Inc., Siemens Healthineers AG, Hologic Inc., Oculus VR (Meta Platforms Inc. ), Wipro GE Healthcare Pvt Ltd, Orca Health Inc., Koninklijke Philips N. V., HTC Corporation, Sony Corporation, EON Reality Inc., XRHealth Inc., DAQRI LLC, Psious S. L., Appello Software Inc., HypnosVR Inc., Fusion VR LLC, Sapizon Technologies Pvt. Ltd., Lucid Reality Labs Inc., Room 505 Inc., VR Simulators Inc., CAE Healthcare Inc., Groove Jones LLC, Google LLC
North America was the largest region in the virtual reality in healthcare market in 2024. The regions covered in the virtual reality in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the virtual reality in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The virtual reality in the healthcare market includes revenues earned by entities by offering 3D environment to create more impactful visual experiences of space and human anatomy, lowering medical costs, decreasing traumatic events, and improving outcomes. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
Virtual Reality In Healthcare Global Market Report 2025 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 virtual reality in healthcare 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 virtual reality in healthcare ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The virtual reality in healthcare 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.