Virtual Reality Market size in Healthcare Market to grow by USD 9,019.06 million from 2022 to 2027; Growing demand for healthcare services to drive market growth - Technavio

NEW YORK, May 23, 2023 /PRNewswire/ -- The virtual reality market size in the healthcare market is estimated to increase by USD 9,019.06 million from 2022 to 2027, with a CAGR of 32.85%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The addictions therapeutics market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

Alphabet Inc., Augmedix Inc, BioflightVR, CAE Inc., Dassault Systemes SE, Eon Reality Inc., Firsthand Technology Inc., GE Healthcare Technologies Inc., HTC Corp., Intuitive Surgical Inc., Koninklijke Philips NV, Medical Realities Ltd., Meta Platforms Inc., MindMaze SA, Samsung Electronics Co. Ltd., Siemens AG, Sony Group Corp., Teladoc Health Inc., XRHealth USA Inc., and Psico Smart Apps SL

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Virtual Reality Market in Healthcare Market - Analysis of Segments

This virtual reality market in healthcare market report extensively covers market segmentation by component (software and services), end-user (research and diagnostics, hospitals and clinics, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth by the Healthcare Virtual Reality (VR) segment is significant during the forecast period. The segment of the market includes various software applications and platforms for creating, developing and delivering virtual reality experiences for medical purposes. The segment is expected to grow significantly due to the increasing adoption of virtual reality technology in the medical field. 

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Market Dynamics

Rising demand for healthcare services is driving the growth of the healthcare virtual reality (VR) market in particular. Aging populations across the globe and rising disposable incomes globally are two key factors expected to increase the use and access to modern healthcare services during the forecast period. In addition, chronic diseases and the need for improved healthcare are increasing. More medical services and staff are urgently needed to effectively treat the growing number of patients. This has led to the emergence of new mobile applications and systems that use virtual reality in the medical field. 

Infrastructure and Integration Issues will challenge Healthcare Virtual Reality (VR) Market growth. One of the major challenges hindering market growth is the infrastructure and integration issues faced by healthcare industry processes. Effective implementation of virtual reality solutions requires access to high-speed, high-bandwidth internet. Problems such as lack of connectivity, power shortages, and slow networks can cause system failures and hinder business productivity. This is a key challenge for the effective introduction of advanced systems in the medical industry, especially in developing countries like China, India, and Japan. 

Geographic Analysis
The market is segmented by region North America, Europe, APAC, South America, and Middle East and Africa. An analysis of key leading countries has been included.

• North America will account for 36% of the market growth during the forecast period. Virtual reality in the North American healthcare sector is primarily driven by the advanced and mature technology landscape across the healthcare industry. This growth is also driven by factors such as rising healthcare costs and increasing digitization in North America. Urbanization and increasing disposable income in the North American countries are expected to increase the adoption of virtual reality solutions across the region, driving the growth of the market during the forecast period. 

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What are the key data covered in this Virtual Reality Market In Healthcare Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Virtual Reality Market In Healthcare Market between 2023 and 2027
• Precise estimation of the size of the Virtual Reality Market In Healthcare Market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Virtual Reality Market In Healthcare Market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Virtual Reality Market In Healthcare Market vendors

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Related Reports:

The augmented reality (AR) and virtual reality (VR) smart glasses market is estimated to grow at a CAGR of 13.8% between 2022 and 2027. The size of the market is forecast to increase by USD 7,297.59 million. This report extensively covers market segmentation by application (gaming, education, industrial, and military), product (optical see-through and video see-through), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The emergence of simultaneous localization and mapping (SLAM) technology is the primary trend in the global augmented reality and virtual reality smart glasses market. 

The virtual reality (VR) in the gaming market is estimated to grow at a CAGR of 28.39% between 2022 and 2027. The size of the market is forecast to increase by USD 17,853.41 million. This report extensively covers market segmentation by application (consoles, PCs, and mobile devices), component (hardware and software), and geography (APAC, North America, Europe, Middle East and Africa, and South America).The introduction of digital downloading in gaming consoles is notably driving the market growth. 

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global virtual reality market in healthcare sector 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global virtual reality market in healthcare sector 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments 
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Software - Market size and forecast 2022-2027
• Exhibit 34: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 6.4 Services - Market size and forecast 2022-2027
• Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)
• Exhibit 43: Data Table on Market opportunity by Component ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 44: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 45: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 46: Chart on Comparison by End-user
• Exhibit 47: Data Table on Comparison by End-user

• 7.3 Research and diagnostics - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Research and diagnostics - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Research and diagnostics - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Research and diagnostics - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Research and diagnostics - Year-over-year growth 2022-2027 (%)

• 7.4 Hospitals and clinics - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Hospitals and clinics - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Hospitals and clinics - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027
• Exhibit 56: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by End-user 
• Exhibit 60: Market opportunity by End-user ($ million)
• Exhibit 61: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
• Exhibit 103: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Alphabet Inc. 
• Exhibit 115: Alphabet Inc. - Overview
• Exhibit 116: Alphabet Inc. - Business segments
• Exhibit 117: Alphabet Inc. - Key news
• Exhibit 118: Alphabet Inc. - Key offerings
• Exhibit 119: Alphabet Inc. - Segment focus

• 12.4 Augmedix Inc 
• Exhibit 120: Augmedix Inc - Overview
• Exhibit 121: Augmedix Inc - Product / Service
• Exhibit 122: Augmedix Inc - Key offerings

• 12.5 CAE Inc. 
• Exhibit 123: CAE Inc. - Overview
• Exhibit 124: CAE Inc. - Product / Service
• Exhibit 125: CAE Inc. - Key offerings

• 12.6 Dassault Systemes SE 
• Exhibit 126: Dassault Systemes SE - Overview
• Exhibit 127: Dassault Systemes SE - Product / Service
• Exhibit 128: Dassault Systemes SE - Key news
• Exhibit 129: Dassault Systemes SE - Key offerings

• 12.7 Eon Reality Inc. 
• Exhibit 130: Eon Reality Inc. - Overview
• Exhibit 131: Eon Reality Inc. - Product / Service
• Exhibit 132: Eon Reality Inc. - Key offerings

• 12.8 Firsthand Technology Inc. 
• Exhibit 133: Firsthand Technology Inc. - Overview
• Exhibit 134: Firsthand Technology Inc. - Product / Service
• Exhibit 135: Firsthand Technology Inc. - Key offerings

• 12.9 HTC Corp. 
• Exhibit 136: HTC Corp. - Overview
• Exhibit 137: HTC Corp. - Product / Service
• Exhibit 138: HTC Corp. - Key offerings

• 12.10 Koninklijke Philips NV 
• Exhibit 139: Koninklijke Philips NV - Overview
• Exhibit 140: Koninklijke Philips NV - Business segments
• Exhibit 141: Koninklijke Philips NV - Key news
• Exhibit 142: Koninklijke Philips NV - Key offerings
• Exhibit 143: Koninklijke Philips NV - Segment focus

• 12.11 Medical Realities Ltd. 
• Exhibit 144: Medical Realities Ltd. - Overview
• Exhibit 145: Medical Realities Ltd. - Product / Service
• Exhibit 146: Medical Realities Ltd. - Key offerings

• 12.12 Meta Platforms Inc. 
• Exhibit 147: Meta Platforms Inc. - Overview
• Exhibit 148: Meta Platforms Inc. - Business segments
• Exhibit 149: Meta Platforms Inc. - Key offerings
• Exhibit 150: Meta Platforms Inc. - Segment focus

• 12.13 Psico Smart Apps SL 
• Exhibit 151: Psico Smart Apps SL - Overview
• Exhibit 152: Psico Smart Apps SL - Product / Service
• Exhibit 153: Psico Smart Apps SL - Key offerings

• 12.14 Samsung Electronics Co. Ltd. 
• Exhibit 154: Samsung Electronics Co. Ltd. - Overview
• Exhibit 155: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 156: Samsung Electronics Co. Ltd. - Key news
• Exhibit 157: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 158: Samsung Electronics Co. Ltd. - Segment focus

• 12.15 Sony Group Corp. 
• Exhibit 159: Sony Group Corp. - Overview
• Exhibit 160: Sony Group Corp. - Business segments
• Exhibit 161: Sony Group Corp. - Key news
• Exhibit 162: Sony Group Corp. - Key offerings
• Exhibit 163: Sony Group Corp. - Segment focus

• 12.16 Teladoc Health Inc. 
• Exhibit 164: Teladoc Health Inc. - Overview
• Exhibit 165: Teladoc Health Inc. - Product / Service
• Exhibit 166: Teladoc Health Inc. - Key offerings

• 12.17 XRHealth USA Inc. 
• Exhibit 167: XRHealth USA Inc. - Overview
• Exhibit 168: XRHealth USA Inc. - Product / Service
• Exhibit 169: XRHealth USA Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations 
• Exhibit 176: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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