Global Virtual Reality In Healthcare Market Expected to Achieve 47.9% CAGR by 2029: Growth Forecast Insights

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How Large Will the Virtual Reality In Healthcare Market Size By 2025?_x000D_
The healthcare market for virtual reality has seen a rapid growth in its size over recent years. The market is expected to expand from $4.19 billion in 2024 to $5.98 billion in 2025, showcasing a compound annual growth rate (CAGR) of 42.9%. This significant growth during the historical period is due to factors such as an increase in chronic illness, pain management and distraction therapy, telemedicine and virtual consultations, a patient-focused healthcare approach, and greater acknowledgment by healthcare practitioners._x000D_
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How Big Is the Virtual Reality In Healthcare Market Size Expected to Grow by 2029?_x000D_
The market size of virtual reality in healthcare is predicted to witness significant growth in the coming years, with expectations to reach a value of $28.59 billion in 2029, experiencing a compound annual growth rate (CAGR) of 47.9%. The predicted expansion during the forecasted period can be linked to factors such as remote training and simulation, integration with wearable tech, real-time assistance during surgeries, immersive therapy for neurological conditions, and a broader scope in medical training. Key trends to watch out for during the forecast period include advancements in VR technology, personalized treatment through AI integration, improved visualization in medical imaging, VR-aided preoperative planning, and the emergence of virtual health communities._x000D_
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Which Key Market Drivers Powering Virtual Reality In Healthcare Market Expansion and Growth?_x000D_
The increasing occurrence of neurological diseases is propelling the expansion of the healthcare industry's virtual reality sector. Neurological conditions like Alzheimer's, Parkinson's, dementia, multiple sclerosis, migraines, and others have a strong impact on the body's central nervous system. The immersive VR technology is being utilized innovatively for the creation of potential applications for neurological disease treatments. The cost-effectiveness, patient-friendly nature, and ecological validity offered by Virtual Reality in Neurology sets it apart from conventional neuropsychological tests. Moreover, practical use for both normal and pathological ageing is a significant advantage. For instance, in February 2022, as per the World Health Organization (WHO), a UN-associated agency tasked with global public health issues, epilepsy affects nearly 50 million individuals globally. As such, it is deemed one of the most commonplace neurological disorders worldwide. Epilepsy patients constitute over 80% of the population in developing and middle-income nations. Hence, these escalating instances of neurological disorders are anticipated to boost the growth of the virtual reality technology in the healthcare sector in the future._x000D_
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Which Fast-Growing Trends Are Poised to Disrupt the Virtual Reality In Healthcare Market?_x000D_
The development of technology is fueling the transformation of virtual reality in the medical sector. Key businesses in the sector of virtual reality in healthcare are directing their efforts towards the invention of new tech-based solutions for the healthcare field to augment their market stance. For example, in June 2023, Amrita Hospital, a healthcare service provider based in India with top-notch facilities, instituted the inaugural extended reality ecosystem in the medical realm. The extended reality applications at Amrita Hospital, which were created over a span of numerous years, have to date successfully treated 150 patients. In collaboration with prominent companies such as Microsoft India, the technology permits medical experts to view organs in the form of holographic 3D images. Future upgrades for this technology aim to provide more immersive educational tools and better telemedicine capabilities._x000D_
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What Are the Emerging Segments in the Virtual Reality In Healthcare Market?_x000D_
The virtual reality in healthcaremarket covered in this report is segmented - _x000D_
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1) By Component: Hardware, Software _x000D_
2) By Technology: Full Immersive Virtual Reality, Non-Immersive Virtual Reality, Semi-Immersive Virtual Reality _x000D_
3) By Device Type: Head-Mounted Display, Gesture-Tracking Device, Projectors And Display Units, Other Devices_x000D_
4) By Application: Patient Care Management, Education And Training, Fitness Management, Pharmacy, Surgery, Other Applications _x000D_
5) By End User: Research And Diagnostics, Laboratories, Hospitals And Clinics, Pharmaceutical Companies, Other End Users_x000D_
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Subsegments:_x000D_
1) By Hardware: VR Headsets, Motion Sensors, Haptic Devices _x000D_
2) By Software: VR Simulation Software, Training And Education Software, Therapy And Rehabilitation Applications_x000D_
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Who Are the Global Leaders in the Virtual Reality In Healthcare Market?_x000D_
Major companies operating in the virtual reality in healthcare market include SAMSUNG Electronics Co. Ltd., Atheer Inc., Augmedix Inc., Firsthand Technology Inc., Microsoft Corporation, Medical Realities Ltd., MindMaze, Medtronic Inc., Siemens Healthineers AG, Hologic Inc., Oculus VR (Meta Platforms Inc. ), Wipro GE Healthcare Pvt Ltd, Orca Health Inc., Koninklijke Philips N. V., HTC Corporation, Sony Corporation, EON Reality Inc., XRHealth Inc., DAQRI LLC, Psious S. L., Appello Software Inc., HypnosVR Inc., Fusion VR LLC, Sapizon Technologies Pvt. Ltd., Lucid Reality Labs Inc., Room 505 Inc., VR Simulators Inc., CAE Healthcare Inc., Groove Jones LLC, Google LLC _x000D_
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Which are the Top Profitable Regional Markets for the Virtual Reality In Healthcare Industry?_x000D_
North America was the largest region in the virtual reality healthcare market in 2024. The regions covered in the virtual reality in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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