PUBLISHER: The Business Research Company | PRODUCT CODE: 1664488
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664488
The metaverse in the healthcare market involves the use of emerging technologies, such as virtual and augmented reality, to enhance research and development capabilities in drug manufacturing, improve technology applications in mental health, and help healthcare facilities overcome geographical limitations. It also enables the performance of scans and tests in a local facility, with the data sent to specialists anywhere in the world.
The main components of a metaverse in healthcare are software and hardware. The software includes applications, scripts, and programs running on devices intended for outpatient use, qualified to assist medical practices in obtaining meaningful use certification. Various technologies involved are augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and mixed reality (MR). The devices include VR headsets, AR devices, and mixed reality platforms. These technologies find applications in various sectors such as medical training and education modules, diagnosis, treatment, designing operating rooms, surgical training, remote monitoring, and others.
The metaverse in healthcare market research report is one of a series of new reports from The Business Research Company that provides metaverse in healthcare market statistics, including metaverse in healthcare industry global market size, regional shares, competitors with a metaverse in healthcare market share, detailed metaverse in healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the metaverse in the healthcare industry. This metaverse 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 metaverse in healthcare market size has grown exponentially in recent years. It will grow from $13.54 billion in 2024 to $17.99 billion in 2025 at a compound annual growth rate (CAGR) of 32.9%. The growth in the historic period can be attributed to increased emphasis on medical training and simulation, rise in telemedicine and virtual consultations, enhanced patient engagement and education, incorporation of gamification in healthcare, global health crisis response.
The metaverse in healthcare market size is expected to see exponential growth in the next few years. It will grow to $60.47 billion in 2029 at a compound annual growth rate (CAGR) of 35.4%. The growth in the forecast period can be attributed to expansion of virtual clinical trials, development of virtual therapeutics, focus on accessibility and inclusivity, personalized healthcare experiences, market penetration in developing regions. Major trends in the forecast period include digital twin technology in healthcare, integration with wearable devices, integration of virtual reality (VR) technology, incorporation of blockchain for data security, collaborations between tech and healthcare industries.
The increasing popularity of telemedicine is anticipated to drive the growth of the global healthcare metaverse market in the coming years. Telemedicine encompasses a wide range of remote clinical services, including televisits, remote monitoring, and electronic prescriptions. It has become particularly relevant for minimizing infection risks in waiting rooms during pandemics. As a result, there is a rising demand for metaverse technologies in telemedicine, especially for facilitating televisits. For example, in June 2024, the Centers for Disease Control and Prevention, a US government agency, reported that 30.1% of adults used telemedicine in the past 12 months in 2022. Thus, the increasing global popularity of telemedicine is propelling the growth of the healthcare metaverse market.
The growing prevalence of chronic diseases is expected to fuel the growth of the metaverse in healthcare market. Chronic diseases, lasting a year or longer and requiring ongoing medical care, significantly impact daily activities. Examples include heart disease, cancer, obesity, and diabetes. The metaverse plays a crucial role in chronic disease management by offering immersive tools for patient education, personalized interventions, and remote monitoring to enhance treatment plan adherence and overall health outcomes. According to the National Center for Biotechnology Information (NCBI), it is projected that by 2050, the number of individuals aged 50 years and older with at least one chronic illness will increase by 99.5%, reaching 142.66 million. Thus, the rising prevalence of chronic diseases is a key driver for the growth of the metaverse in the healthcare market.
A notable trend gaining momentum in the metaverse in healthcare market is product innovation. Major companies in the market are actively pursuing next-generation technologies and innovations to advance the metaverse in healthcare. For instance, in December 2022, GOQii, an Indian fitness technology company, introduced a fusion of the company's metaverse and preventative healthcare. This Web3-based health technology aims to motivate users to achieve fitness and health goals by integrating physical health and fitness into the digital environment. The platform has been launched in the UAE and is set to expand to India, the United Kingdom, and Japan in the coming months. The collaboration with the Harley International Medical Clinic enables users to create virtual avatars, providing a unique and engaging way to digitally age while maintaining a healthier lifestyle.
Major companies in the metaverse in healthcare market are increasingly focusing on introducing personalized virtual features to gain a competitive edge. Personalized virtual features involve customized elements within a virtual environment or digital platform. For example, in February 2023, Indegene, an India-based life sciences commercialization company, launched Metaverse capabilities aimed at helping life sciences companies create immersive healthcare experiences using metaverse technology. These capabilities are designed to offer personalized, scalable, and omnichannel experiences for patients and physicians, allowing interaction with healthcare professionals in virtual medical congresses, attending virtual educational lectures, and connecting in virtual patient hubs.
In February 2022, Apollo Hospitals Group, a multinational healthcare group based in India, collaborated with 8chili Inc., a US-based MedTech startup, to enable involvement in the metaverse through a pioneering initiative. The immersive experience provided by virtual reality has shown to enhance patient engagement and skill acquisition for practical training. The introduction of virtual reality environments with calming 'narratives' can empower individuals to control their own body and physiological responses, improving patient counseling pre/post-operation in virtual reality. 8chili, as a MedTech startup, is focused on shaping the future of surgical training and remote collaboration.
Major companies operating in the metaverse in healthcare market include Brainlab AG, PlushCare, BioFlight VR, Siemens Healthineers, Meta Platforms Inc., Novarad Corporation, Nvidia Corporation, Microsoft Corporation, Roblox Corporation, GE Healthcare, Medtronic PLC, Google LLC, Wipro Ltd., Global Healthcare Academy, 3D Systems Corp., Vuzix, Magic Leap, zSpace Inc, VirtaMed, Virtually Better, EchoPixel Inc, InfiVR, Intuitive Surgical Inc., Augmedics, Immersive Touch, Medical Realities Ltd., Sesame Care, Aimedis B.V., ARBREA LABS, Veyond Metaverse, GameChange VR
North America was the largest region in the metaverse in healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the metaverse in healthcare market during the forecast period. The regions covered in the metaverse in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the metaverse in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The metaverse in the healthcare market consists of revenues earned by entities by using metaverse technologies such as edge computing, extended reality(XR), and intelligent cloud. The market value includes the value of related goods sold by the service provider or included within the service offering. The metaverse in the healthcare market also includes sales of hardware devices such as COPD monitors. 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 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 metaverse 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 metaverse 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 metaverse 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.