Virtual Reality in Medical Market Growing Rapidly with Latest Trend and Future scope with Top 10 Key Players
Virtual Reality in Medical Market Size – USD 446.2 Million in 2020, Market Growth – at a CAGR of 31.1%, Market Trends – Advancement in Technology
VANCOUER, BC, CANADA, July 20, 2022 /EINPresswire.com/ -- The global Virtual Reality (VR) in medical market size is expected to reach USD 3,975.0 Million at a revenue CAGR of 31.1% in 2028, according to latest analysis by Emergen Research. Global Virtual Reality (VR) in medical market revenue growth can be attributed to increasing use of VR in treatment and therapies of patients with various conditions. VR systems are deployed by medical professionals to deliver more effective and efficient services to patients in a more personalized manner.
VR for medical purposes aids healthcare professionals in gaining learning and information regarding preventive medicine and potential side effects, including alcohol intake levels, cigarette smoking cessation, and impact of healthy diet and exercise on human health. These learnings are necessary to enable providers to experience effects on patients who are quitting smoking. VR is essential for healthcare professionals to learn and better educate their patients regarding benefits of preventive medicine.
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The report offers these individuals a vivid description of the competitive spectrum of the global Virtual Reality in Medical Market .The global health emergency has beleaguered the global economy, thereby disrupting this particular business domain’s functioning mechanism. It assesses the present market scenario and forecasts the pandemic’s aftermath in this business sector to help organizations boost their COVID-19 preparedness.
Virtual Reality in Medical Market : Competitive Landscape
The prominent players operating in the Virtual Reality in Medical Market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Virtual Reality in Medical Market .
Some of the prominent players operating in the market are:
Microsoft Corporation,
Koninklijke Philips NV,
Firsthand Techno
logy Inc.,
Orca Health Inc., General Electric,
Alphabet Inc.,
AppliedVR Inc.,
SyncThink Inc.,
Osso VR Inc.,
and EchoPixel Inc.
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The Virtual Reality in Medical Market report takes a closer view of the global Virtual Reality in Medical Market share, estimated growth rate, future market trends, entry-level barriers, fundamental market drivers, restraints, challenges, and opportunities. The report clearly defines Virtual Reality in Medical Market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the Virtual Reality in Medical Market .
Some Key Highlights From the Report :
In August 2021, Curebase made an announcement about signing a one-year contract with AppliedVR to allow the latter to deploy its Curebase platform to carry out five clinical trials evaluating the effectiveness of VR therapy for treatment of chronic pain.
Among the technology segments, gesture tracking technology segment revenue is expected to register a faster growth rate over the forecast period. Gesture-controlled interfaces are considered to be of immense benefit owing to ability to be deployed in challenging situations, e.g., in situations when a healthcare professional is unable to reach or touch a screen but still requires interacting with device. Using gesture technology, healthcare providers could easily access MRI of a patient, even take few notes by writing in the air. Gesture recognition can lessen potential for HAIs (Health care-associated infections) by delivering a touchless interface for retrieving patient information at the time of procedures.
North America VR in medical market accounted for largest revenue share in 2020, attributed to rapid adoption of advanced technologies, increasing investment in research and development in healthcare sector, rising emphasis on creating disease awareness, and increasing healthcare expenditure.
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Emergen Research has segmented the global Virtual Reality (VR) in medical market on the basis of component, technology, end-use, and region:
Component Outlook (Revenue, USD Million; 2018–2028)
Hardware
Software
Services
Technology Outlook (Revenue, USD Million; 2018–2028)
Head-Mounted Technology
Gesture Tracking Technology
Projector & Display Walls Technology
End-Use Outlook (Revenue, USD Million; 2018–2028)
Hospitals
Clinics
Research Institutes
Others
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Regional Developments :
The Virtual Reality in Medical Market research report comprises observations and early study on potential competitors, as well as a thorough analysis of providers of competition. The report also includes an evaluation of the regional business environment, a Porter’s Five Forces analysis, market dynamics and drivers, opportunities and challenges, risk and entry barriers, producers, and distribution networks. This study’s main objective is to examine how various industrial factors may affect the market in the future.
Regional Bifurcation of the Virtual Reality in Medical Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key questions answered in the report:
What will be the development pace of Virtual Reality in Medical Market ?
What are the key factors driving the Global Virtual Reality in Medical Market ?
Who are the key manufacturers in the market space?
What are the openings, hazards, and outline of the market?
What is sales, revenue, and price analysis of top manufacturers of Virtual Reality in Medical Market ?
Who are the distributors, traders, and dealers of Virtual Reality in Medical Market ?
What are the Virtual Reality in Medical Market opportunities and threats faced by the vendors in the Global Infrared detector industries?
What are deals, incomes, and value examinations by types and utilizations of the market?
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Emergen research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
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