Virtual Reality (VR) in Healthcare 2021 Global Market Key Players - Koninklijke Philips N.V., Samsung Electronics Co. Ltd., EON Reality, General Electric, CAE Healthcare, Google LLC-Analysis And Forecast To 2028

Virtual Reality (VR) in Healthcare Market 2021-2028

New study report " Virtual Reality (VR) in Healthcare Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.

Market Overview-

The global virtual reality (VR) in healthcare market size was USD 885.7 million in 2020. The market is projected to grow from USD 1,206.6 million in 2021 to USD 11,657.8 million in 2028 at a CAGR of 38.3% in the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “Virtual Reality (VR) in Healthcare Market, 2021-2028.” According to our researchers, VR technology is being utilized to detect, strategize and reorient patients suffering from complications such as autism, phobias, dejection, and addiction. This is anticipated to spur demand for VR technology devices in the healthcare sector.

Moreover, numerous healthcare suppliers have apprehended the benefits of VR and have begun using it in their procedures. Chief virtual reality technology service corporations have combined 3D interactive content and 360-degree video in order to create the paramount education programs for doctors and students. For example, solutions such as SentiAR and Proximie, which are grounded on a 360-degree scale, provide real-time body scan to aid surgeons in comprehending the health concern in a clear manner.

COVID-19 Pandemic Boosted Opportunity for VR Implementation in Healthcare Industry

The demand for virtual reality technology radically augmented in healthcare industry during the pandemic. The application of VR facilitated medical staff with a chance to comprehend and revise the impact of novel stress. Technology-assisted medical experts with the real-time radio graphical understandings are exhibiting the effect of the virus on the patient.

The necessity for online and communicative educational meetings amplified significantly. For example, the medical students tackled difficulties for practical sessions, owing to the factor that no existing technology could provide face-to-face or medical situations such as education environment. This is anticipated to thrust the application of VR in clinical education and training meetings.

Top Key Players in this market are:

Koninklijke Philips N.V. (Amsterdam, Netherlands)
Samsung Electronics Co. Ltd. (Suwon-si, South Korea)
EON Reality (California, United States)
General Electric (Massachusetts, United States)
CAE Healthcare (Florida, United States)
Google LLC (California, United States)
Oculus Rift (Facebook Inc.) (California, United States)
Microsoft Corporation (Washington, United States)
Medical Realities Ltd. (London, United Kingdom)
XRHealth USA Inc. (Massachusetts, United States)
Psious (Barcelona, Spain)
HTC Corporation (Taoyuan City, Taiwan)
Sony Corporation (Tokyo, Japan)


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Competitive Landscape-

Crucial Players are Accentuating on Virtual Clinical Toolkits to Fortify their Positions

The key players in the market for virtual reality in healthcare are fixated on presenting advanced medical technologies to backup healthcare employees and their patients. These corporations are teaming up with infirmaries and nurses to provide virtual care and assessment solutions. For instance, in September 2019, XRHealth USA Inc. pooled up with Allscripts Healthcare Solutions, Inc. to unveil an AR/VR platform to assist the hospital workforce in recommending and observing patient health. Its ARHealth and VRHealth platform delivers real-time support to assess patient improvement and its visions.

Segmentation-

On the basis of components, the market is classified into hardware, software, and content. The hardware segment held a significant share of 50.6% in 2020 and is anticipated to dominate the market during the mentioned timeframe. The VR hardware includes head-mounted displays (HMD), PCs, and additional gadgets such as laptops and mobiles.

Based on application, the market is categorized into pain management, education & training, surgery, patient care management, rehabilitation & therapy procedures, and post-traumatic stress disorder (PTSD). In terms of region, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Regional Insights-

Rising Investments in Advanced Technologies to Help North America Dominate

North America is projected to control the virtual reality (VR) in healthcare market share during the forecast period. This region is observing substantial investments in applying progressive technologies such as immersive technology in clinical procedures. This is likely to navigate the market growth across the region.

Asia Pacific is estimated to increase the profitable growth rate in the near future. Emerging economies such as India, China, and Japan are set to lead the income segment in the market. China is greatly capitalizing on its telehealth and digital healthcare sector.

Europe is anticipated to hold a noteworthy spot in the market in the foreseeable future. The healthcare sector of the region is the second biggest regarding increasing funds and resources. According to the Healthcare Investments and Exits Annual Report 2020, U.K. contributes almost 30% of the transactions in project capitals.

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Report Coverage-

The report presents a systematic study of the market segments and a thorough analysis of the market overview. A thoughtful evaluation of the current trends in the market for virtual reality in healthcare and the future opportunities are offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners with a better understanding of the possible threats present in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position in this industry.

Table of Content:

Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Virtual Reality (VR) in Healthcare Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….

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