A recent report published by Infinium Global Research on virtual reality (VR) in healthcare market provides in depth analysis of segments and sub-segments in global as well as regional virtual reality in healthcare market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional virtual reality in healthcare market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global virtual reality in healthcare market. According to report the global virtual reality in healthcare market is projected to grow at a CAGR of 54.5% over the forecast period of 2017-2023.
Virtual reality in healthcare market is an artificial three dimensional environment that is created with software and presented to the user in such a way that the user suspends belief and accepts it as a real environment. Healthcare is one of the largest application industries of virtual reality which encompasses surgery simulation, phobia treatment, robotic surgery and skills training. One of the major importance of VR in healthcare is that it allows medical professionals to learn new skills as well as refreshing existing skills in a safe environment without causing any danger to the patients.
Figure: Global Virtual reality in Healthcare Market by Value 2015-2023
Benefits associated with virtual reality, increasing healthcare expenditure, rising incidents of neurological disorders and increasing demand for innovative diagnostic techniques are considered to be the key factors driving the growth of this market. Moreover, high cost associated with VR hardware and devices, lack of skilled medical professionals and unclear regulatory guidelines for their medical use are some of the factors restraining growth of this market. Going forward, developing endoscopic surgical techniques, growing numbers of robotic surgeries and tremendous opportunities in emerging economies are likely to create more opportunities over the forecast period. Furthermore, untapped economies, maintenance of devices and lack of awareness among the patient population are some of the challenges faced by this market.
The report on global virtual reality in healthcare market covers segments such as, technology type and application. On the basis of technology type the global virtual reality in healthcare market is categorized into full immersive VR, semi immersive VR and non-immersive VR. On the basis of application the global virtual reality in healthcare market is categorized into surgery simulation, phobia treatment, robotic surgery, education and training, visualization and rehabilitation, post-traumatic stress disorders (PSTD), treatment of autism, diagnosis of cognitive disorders and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015-2023. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017-2023.
The report provides profiles of the companies in the global virtual reality in healthcare market such as, CAE Healthcare, GE Healthcare, Samsung, Siemens Healthcare, Brainlab AG, Medtronic, Inc., Vital Images, Inc., Vuzix, Corp, Hologic, Inc. and Virtual Realities, LLC.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global virtual reality in healthcare market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of virtual reality in healthcare market. Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the virtual reality in healthcare market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the virtual reality in healthcare market to understand the present and future trends in this market and formulate their strategies accordingly.
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