Virtual Reality In Healthcare Market Scope
Virtual Reality (VR) is the use of computer technology to create a simulated environment. Virtual reality (VR) is being used as a powerful diagnostic method to assist doctors and clinicians in making correct diagnoses. This is achieved in conjunction with other procedures, such as MRI/CT scans, which removes the need for any invasive techniques, allowing the patient to have a pain-free experience. Residents are being trained, surgeons are preparing upcoming operations, and patients are being educated using the virtual reality system. In the operating room, it also assists surgeons by directing them in three-dimensional space. Virtual reality in surgery has been around for a while and has gained a lot of traction in the medical field. Other applications include Physical Fitness and Therapy, Pain Management, dentistry etc. The rise in incidences of neurological disorders, increased demand for advanced diagnostic tools, and increased understanding of the advantages of virtual reality technology are the major factors driving the global virtual reality in healthcare industry.
The Virtual Reality In Healthcare market study is segmented by Type (VR Semiconductor Components, VR Devices, VR Sensors and Others), by Application (Rehabilitation and therapy procedures, Surgery, Visualization, Education and training and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Virtual Reality In Healthcare market throughout the predicted period.
XR Health (United States), Google (United States), Microsoft (United States), Firsthand Technology (United States), Augmedix(United States), oculus VR (United States), CAE Healthcare (United States), Philips Healthcare (Netherlands), GE Healthcare (United States) and Medtronic, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Psious (Spain) and Mindmaze (Switzerland).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Virtual Reality In Healthcare market by Type, Application and Region.
On the basis of geography, the market of Virtual Reality In Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In April, 2020 - XRHealth (Certified Extended Reality Medical Company) has successfully raised around USD 7million funding in April 2020, particularly to expand its telehealth virtual reality (VR)/augmented reality (AR) platform for clinicians and patients. Strategic funding is intended to take advantage of available opportunities.
Augmedics has announced the FDA 510(k) clearance and the U.S. launch of its groundbreakingxvision Spine system (XVS) in January 2020. The XVS is the first AR guidance system to be used in surgery by allowing surgeons to visualize the three dimensional (3D) spinal anatomy of a patient during surgery.
- Increased Use of Virtual Reality in Medical Fitness Management
- Rise in Incidences of Neurological Disorders
- Increasing Penetration of Connected Devices in the Healthcare Sector
- Rise in Use of VR in Dentistry and cancer Therapies
- Data Privacy Concerns of the Users
- High Cost of Technology
- Lack of Competence in Deployment of the VR Solutions
- Lack of Expertise Among Medical Practitioners to Adopt New Technologies
Key Target AudienceTechnology Providers, Healthcare Industry, Components Providers, VR Suppliers and Others
Frequently asked questions:1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Virtual Reality In Healthcare Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.