Virtual Reality (VR) in Healthcare Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Virtual Reality (VR) in Healthcare Market
The virtual reality (VR) in healthcare market size was valued at USD 3.12 billion in 2023, and the market is now projected to grow from USD 4.18 billion in 2024 to USD 38.46 billion by 2032, exhibiting a CAGR of 32.0% during the forecast period of 2024-2032.
The COVID-19 pandemic created significant opportunities on the virtual reality (VR) in healthcare market growth as curbing coronavirus outbreak was prioritized. The call for virtual truth gear extensively improved in the healthcare industry throughout the pandemic. The implementation of virtual facts in healthcare gave doctors the possibility to apprehend and take a look at the impact of the brand-new virus pressure.
The virtual reality (VR) in healthcare market share globally has been contributed due to the increasing application of VR in patient treatment. Healthcare providers use virtual facts to improve their patients’ treatment abilities. Through VR medical treatment, scientific experts are able to stumble on, diagnose, educate, and deal with fitness issues easily. Virtual reality equipment is being appreciably utilized by psychiatrists for the remedy of sufferers’ phobias.
Furthermore, there’s been a notable trend of rising trend of wearable technology. The wearable generation has progressed the approach of society in the direction of health and fitness. Today, clients believe that this technology makes healthcare more convenient and low-cost.
Comprehensive Analysis of Virtual Reality (VR) in Healthcare Market
The virtual reality (VR) in healthcare market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the information & communication technology industry. These segmentations are methodically segregated by types of components, and application. The component types include, Hardware, Software, and Content. However, the application is such as Pain Management, Surgery, Education & Training,Rehabilitation & Therapy Procedures, Patient Care Management, and Post-Traumatic Stress Disorder (PTSD).
The North American region is conducive to the global virtual reality (VR) in healthcare market, leading to a recall of USD 8.9 billion owing to increasing adoption of VR. The adoption of VR is growing in this place due to the growing usage of immersive technology in clinical practices. The other factors consist of government initiatives and big investments in research and development.
The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players include, Koninklijke Philips N.V. (Netherlands), Medical Realities Ltd. (U.K.), EON Reality (U.S.), XRHealth USA Inc. (U.S.), CAE Healthcare (U.S.), Samsung Electronics Co. Ltd. (South Korea), HTC Corporation (Taiwan), Oculus Rift (Facebook Inc.) (U.S.), Amelia (formerly Psious VR) (Spain), Sony Corporation (Japan), and PsyTech VR (U.S.) these market players provide a level-playing competitive landscape.
In October 2023, Lumeto, a Canada-based healthcare simulation agency, included AI improvements into its InvolveXR platform. This platform is a totally immersive simulation lab to provide schooling and evaluation for healthcare professionals.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 32.0% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Component
Hardware
Software
Content
By Application
Pain Management
Education & Training
Surgery
Patient Care Management
Rehabilitation and Therapy Procedures
Post-Traumatic Stress Disorder (PTSD)
By Region
North America (By Component, By Application, and By Country)
- U.S. (By Component)
- Canada (By Component)
Latin America (By Component, By Application, and By Country)
- Brazil (By Component)
- Mexico (By Component)
- Argentina (By Component)
- Rest of Latin America
Europe (By Component, By Application, and By Country)
- U.K. (By Component)
- Germany (By Component)
- France (By Component)
- Italy (By Component)
- Spain (By Component)
- Rest of Europe
Middle East & Africa (By Component, By Application, and By Country)
- GCC (By Component)
- South Africa (By Component)
- Rest of Middle East & Africa
Asia Pacific (By Component, By Application, and By Country)
- China (By Component)
- Japan (By Component)
- India (By Component)
- Southeast Asia (By Component)
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments –Mergers, Acquisitions and Partnerships
- 4.2. Porters Five Forces Analysis
- 4.3. Technological Development
- 4.4. Impact of Covid-19
- 5. Global Electric Vehicle Telematics Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Technology
- 5.2.1. Embedded
- 5.2.2. Retrofitted
- 5.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.3.1. Two-Wheeler
- 5.3.2. Passenger Car
- 5.3.3. Commercial Vehicle
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Safety & Security
- 5.4.2. Entertainment
- 5.4.3. Information & Navigation
- 5.4.4. Diagnostics
- 5.4.5. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia pacific
- 5.5.4. Rest of the world
- 6. North America Electric Vehicle Telematics Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Technology
- 6.1.1. Embedded
- 6.1.2. Retrofitted
- 6.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.2.1. Two-Wheeler
- 6.2.2. Passenger Car
- 6.2.3. Commercial Vehicle
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Safety & Security
- 6.3.2. Entertainment
- 6.3.3. Information & Navigation
- 6.3.4. Diagnostics
- 6.3.5. Others
- 6.4. Market Analysis – By Country
- 6.4.1. The U.S.
- 6.4.1.1. By Technology
- 6.4.2. Canada
- 6.4.2.1. By Technology
- 6.4.3. Mexico
- 6.4.3.1. By Technology
- 7. Europe Electric Vehicle Telematics Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Technology
- 7.1.1. Embedded
- 7.1.2. Retrofitted
- 7.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.2.1. Two-Wheeler
- 7.2.2. Passenger Car
- 7.2.3. Commercial Vehicle
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Safety & Security
- 7.3.2. Entertainment
- 7.3.3. Information & Navigation
- 7.3.4. Diagnostics
- 7.3.5. Others
- 7.4. Market Analysis – By Country
- 7.4.1. The U.K
- 7.4.1.1. By Technology
- 7.4.2. Germany
- 7.4.2.1. By Technology
- 7.4.3. France
- 7.4.3.1. By Technology
- 7.4.4. Rest of Europe
- 7.4.4.1. By Technology
- 8. Asia Pacific Electric Vehicle Telematics Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Technology
- 8.1.1. Embedded
- 8.1.2. Retrofitted
- 8.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.2.1. Two-Wheeler
- 8.2.2. Passenger Car
- 8.2.3. Commercial Vehicle
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Safety & Security
- 8.3.2. Entertainment
- 8.3.3. Information & Navigation
- 8.3.4. Diagnostics
- 8.3.5. Others
- 8.4. Market Analysis – By Country
- 8.4.1. China
- 8.4.1.1. By Technology
- 8.4.2. India
- 8.4.2.1. By Technology
- 8.4.3. Japan
- 8.4.3.1. By Technology
- 8.4.3.2. By Technology
- 8.4.4. South Korea
- 8.4.4.1. By Technology
- 8.4.5. Rest of Asia Pacific
- 8.4.5.1. By Technology
- 9. Rest of the World Electric Vehicle Telematics Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Technology
- 9.1.1. Embedded
- 9.1.2. Retrofitted
- 9.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.2.1. Two-Wheeler
- 9.2.2. Passenger Car
- 9.2.3. Commercial Vehicle
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Safety & Security
- 9.3.2. Entertainment
- 9.3.3. Information & Navigation
- 9.3.4. Diagnostics
- 9.3.5. Others
- 10. Competitive Analysis
- 10.1. Key Industry Development
- 10.2. Global Market Ranking Analysis (2023)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles
- 10.5.1. Tom Tom International (Netherland)
- 10.5.1.1. Overview
- 10.5.1.2. Products & services
- 10.5.1.3. SWOT analysis
- 10.5.1.4. Recent developments
- 10.5.1.5. strategies
- 10.5.1.6. financials (based on availability)
- 10.5.2. Robert Bosch GmbH (Germany)
- 10.5.2.1. Overview
- 10.5.2.2. Products & services
- 10.5.2.3. SWOT analysis
- 10.5.2.4. Recent developments
- 10.5.2.5. strategies
- 10.5.2.6. financials (based on availability)
- 10.5.3. Continental AG (Germany)
- 10.5.3.1. Overview
- 10.5.3.2. Products & services
- 10.5.3.3. SWOT analysis
- 10.5.3.4. Recent developments
- 10.5.3.5. strategies
- 10.5.3.6. financials (based on availability)
- 10.5.4. Trimble, Inc (U.S.)
- 10.5.4.1. Overview
- 10.5.4.2. Products & services
- 10.5.4.3. SWOT analysis
- 10.5.4.4. Recent developments
- 10.5.4.5. strategies
- 10.5.4.6. financials (based on availability)
- 10.5.5. Geotab Inc (Canada)
- 10.5.5.1. Overview
- 10.5.5.2. Products & services
- 10.5.5.3. SWOT analysis
- 10.5.5.4. Recent developments
- 10.5.5.5. strategies
- 10.5.5.6. financials (based on availability)
- 10.5.6. CSS Electronics (Denmark)
- 10.5.6.1. Overview
- 10.5.6.2. Products & services
- 10.5.6.3. SWOT analysis
- 10.5.6.4. Recent developments
- 10.5.6.5. strategies
- 10.5.6.6. financials (based on availability)
- 10.5.7. Intellicar (India)
- 10.5.7.1. Overview
- 10.5.7.2. Products & services
- 10.5.7.3. SWOT analysis
- 10.5.7.4. Recent developments
- 10.5.7.5. strategies
- 10.5.7.6. financials (based on availability)
- 10.5.8. Inventure Ltd (Hungary)
- 10.5.8.1. Overview
- 10.5.8.2. Products & services
- 10.5.8.3. SWOT analysis
- 10.5.8.4. Recent developments
- 10.5.8.5. strategies
- 10.5.8.6. financials (based on availability)
- 10.5.9. Agero, Inc (U.S.)
- 10.5.9.1. Overview
- 10.5.9.2. Products & services
- 10.5.9.3. SWOT analysis
- 10.5.9.4. Recent developments
- 10.5.9.5. strategies
- 10.5.9.6. financials (based on availability)
- 10.5.10. Airbiquity, Inc (U.S.)
- 10.5.10.1. Overview
- 10.5.10.2. Products & services
- 10.5.10.3. SWOT analysis
- 10.5.10.4. Recent developments
- 10.5.10.5. strategies
- 10.5.10.6. financials (based on availability)
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