According to a report by Reports and Data, the virtual reality (VR) in healthcare market is estimated to reach $6.91 Billion by 2026, growing at a CAGR of 16.21%. The researchers associate this growth with the increasing demand for innovative diagnostic techniques, neurological disorders, and increasing disease awareness. Based on statistics, advancements in the field of information technology, such as internet connectivity and mobile applications, is also significant factor stimulating market demand.
Highlights
- North America region accounts for the highest market share of 44.21% in 2018.
- Full Immersive Virtual Reality is projected to grow at a CAGR of 16.58% during the forecast period.
- APAC is estimated to register the highest CAGR of 16.6%, during the forecasted period.
- North America is expected to reach USD 3.11 billion by 2026. Due to the constant technological advancement of related products, prevalence of neurological & psychological disorders, and presence of a sophisticated healthcare infrastructure.
- The Virtual Reality in Healthcare market is divided into hardware and software. The hardware segment accounts for the largest market share of 65% in 2018. The hardware segment is again divided into position trackers, semiconductors, and cameras, displays and projectors and sensors among others.
- The use of head-mounted displays (HMDs) in applications such as patient care management, medical training, pharmacy management, and education would be the primary driver for the growth of HMDs in virtual reality in healthcare.
- The hospitals and clinics account for the largest share of 26.10% in 2018.
- Fitness Management is anticipated to grow at a CAGR of 16.2% during the forecast period.
- VR-market participants include Microsoft, Google, Mindmaze, DAQRI, Psious, CAE Healthcare, Medical Realities, Atheer, Augmedix, Oculus VR, Firsthand Technology, Siemens Healthineers, Philips Healthcare, 3D Systems, VirtaMed, and Virtually Better.
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