Virtual Reality in Healthcare Market Analysis
The occurrence of pain management due to chronic pain after surgery and delay in recovery is a substantial factor for the rise in market growth. Also, the rise in investments of organizations by Research and Development in Virtual Reality (VR) in Healthcare is a significant aspect, which will reduce the healthcare cost and will drive the Virtual Reality in Healthcare Market.

Global Virtual Reality in Healthcare Market Definition
Healthcare is one of the vital domain to adopt Virtual Reality, which entails surgery simulation, phobia treatment, robotic training, and expertise training. Virtual Reality (VR) is used as a diagnostic tool that allows the doctors and surgeons to arrive at a diagnostic consensus in unification with other methods such as Magnetic Resonance Imaging (MRI) scans. The concept supports minimally invasive surgery and eliminates the use of invasive procedures. Prevalent use of this technology is in robotic surgery. The operation is performed by a robotic device – being controlled by a human surgeon and reduces the time and risk of complications. Virtual reality has been deployed in training purposes and in remote telesurgery, where surgery is performed at a separate location to the patient. The main feature of this system is force feedback, as the surgeon needs to be able to measure the amount of pressure to use when performing a delicate procedure. The advantages offered are the healthcare professionals can acquire new skills in a secure environment.

Virtual Reality in Healthcare Market was valued at USD 2.14 Billion in 2019 and is projected to reach USD 33.72 Billion by 2027, growing at a CAGR of 41.2% from 2020 to 2027.



The use of smart wearable devices in virtual reality will provide new avenues in the market. The flexible electronics combined with the VR can enable quick remote disease diagnosis by real-time monitoring of the physiological parameters, signals, and the distant interaction between patient and physician. The flexible healthcare sensor is the most fundamental unit in the flexible and wearable health-monitoring system, which has attracted much attention in recent years. The patient can watch virtual reality clips to battle against trauma.

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Global Virtual Reality in Healthcare Market Overview
The occurrence of pain management due to chronic pain after surgery and delay in recovery is a substantial factor for the rise of Virtual Reality in the Healthcare market. Virtual reality emerges as a suitable alternative which calms the patient before and during the painful medical procedures. The rise in investments of organizations by Research and Development in Virtual Reality (VR) in Healthcare is a significant aspect, which will reduce the healthcare cost and will drive the market growth. The health insurers have made large investments in the shift from cure to prevention, and features of health plans are already being accepted by the consumer population. In encouraging people to stay healthy, the challenge is to help them visualize how minor changes can add up to large differences – how a healthy diet and regular exercise can benefit the patients in the long run. In December 2019, the VR headsets were used at the patients of St George Hospital in the UK. 100% of patients reported that their hospital experience had improved, and 94% said they felt quite relaxed, and 80% experienced minimum pain after wearing the headset, and 73% felt less anxious.

The rise of virtual reality healthcare startups is predicted to increase market growth. For instance, Mindmaze, a neurotechnology company, utilizes the VR headsets and brain imaging procedure to aid stroke victims to recover after an injury. Its technology is used to relieve phantom pain for amputees. The cost of Virtual Headsets is less as compared to the expensive surgical instruments and devices. Other features such as ongoing activities responsible for developing the Virtual Reality Infrastructure will augment the market growth.

The restraints, such as the increased costs of the hardware and the software devices, could become one of the critical hinders for market growth. The scarcity of capability in the placement of the VR solutions and the shortage of proficiency among the medical professionals to adapt to the new technologies will hamper the market growth. The challenges faced in the issues are overcoming the social barriers, concerns regarding data privacy and security, the implementation of strict regulations and policies, and the interoperability matters faced in the VR solutions offered by the major vendors.

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Virtual Reality in Healthcare Market by Component
Hardware
Software
Content


Based on Component, the market is bifurcated into Hardware, Software, and Content. The Content segment is expected to inflate the market growth. The two types of Virtual Content segment are 360- degree videos and 3D animations. There is an increased command of high-quality content as it is the prime factor for use in virtual reality.

Virtual Reality in Healthcare Market by Application
Pain Management
Education and Training
Surgery
Patient Care Management
Rehabilitation
Therapy Procedure
Post-Traumatic Stress Disorder (PTSD)


Based on Application, the market is bifurcated into Pain Management, Education and Training, Surgery, Patient Care Management, Rehabilitation, and Therapy Procedure and Post-Traumatic Stress Disorder (PTSD). Pain Management is anticipated to become the fastest-growing market in the forecast duration. Virtual reality helps the patients relieve the pain caused due to skin grafting, open surgeries.

Virtual Reality in Healthcare Market by Geography
North America
Europe
Asia Pacific
Rest of the world


On the basis of regional analysis, the Global Virtual Reality in Healthcare Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America is expected to hold the largest market share in the forecast period. The attendance of significant players such as Microsoft and Google will boost the market growth with the help of incorporating technological advancements in the product portfolio. Increased disbursements of enterprises in Research and Development would expand the market growth across the region.

Key Players In Virtual Reality in Healthcare Market
The “Global Virtual Reality in Healthcare Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are

Google
Samsung
Atheer Inc
InTouch Technologies
Augmedix, Inc
Firsthand Technology
Microsoft
Medical Realties
Mindmaze
Psious




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