Global Virtual Reality Exposure Therapy Market | Key players are Karuna Labs, Fundamentalvar, Sentiar, Augmented Intelligence, Reducept, Neuro Rehab VR, JOGO Health, Oncomfort, Virtualis, Simx VR, FeelsGood, and Meta Medical VR).

The Global Virtual Reality Exposure Therapy Market is estimated to exhibit a CAGR of 33.90% during the forecast period.

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Using a computer-based display to deliver stimuli to the patient during virtual reality exposure therapy (VRE) makes the treatment more advanced and immersive. VRE is a therapist-assisted controlled form of human-computer interaction that enables the participant to actively participate in a three-dimensional computer environment through a head-mounted display that incorporates video screens, earphones, and a head-tracking device. A virtual environment is created using hardware and software components to allow the patient to observe moving pictures and objects. These procedures are used to carry out a specific type of treatment. The patient can engage with items identical to those seen in the real world in a completely immersive setting. As a result, the market will be significantly driven by the increasing occurrence of heart surgery, stroke, and mental health issues. However, the predicted period will see growth in this market restrained by factors including high costs and a lack of funding in developing countries. The development of the market is being hampered by the poor countries' lack of understanding of digital diabetes care.

List of Prominent Players in the Virtual Reality Exposure Therapy Market:
Google
Proprio
Psious
Microsoft
Mindmaze
Samsung Electronics
ImmersiveTouch
Virtually Better
Accelerated Care Plus Corporation
Imotions
Firsthand Technology
Atheer
Medical Realities
Oculus VR
Echopixel, Osso VR
Surgical Theatre
Augmedic, and Truevision
Others (Other companies include: Vicarious Surgical, Health Scholars, Oxford VR, Limbix, KineQuantum, Vivid Vision, Karuna Labs, Fundamentalvar, Sentiar, Augmented Intelligence, Reducept, Neuro Rehab VR, JOGO Health, Oncomfort, Virtualis, Simx VR, FeelsGood, and Meta Medical VR)

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Market Dynamics:
Drivers-
The government's support for the application of IoT and AI in healthcare will also contribute to the market's expansion. There is currently significant demand for AR and VR products due to growing awareness of their use in developed nations. Traditional therapy approaches, which were expensive for the patient and frequently resulted in inadequate or unsatisfactory care, have been superseded by this technology. The data and information gathered by VR therapy are much more accurate and beneficial than the patient responses to conventional treatment approaches. After then, the data sets can help develop drug-based treatments.

Challenges:
Expansion in this market is likely to be restricted throughout the anticipated period by factors including high expenses and a lack of funding in developing countries. Market expansion is being hampered by developing countries' ignorance of digital diabetes treatment, and these factors cause major challenges to the growth of the market over the forecast period. Furthermore, the rising competition amongst major market players is also leading to a major challenge in the growth of the virtual reality exposure therapy market.

Regional Trends:
The market for virtual reality exposure therapy in North America is anticipated to grow significantly, with Canada and the United States making up the majority of its revenue share. The main factor driving this market's domination is patient and medical staff knowledge of VR therapy's advantages for treating mental illness and other conditions. The rising government investment in healthcare infrastructure is a key factor driving market expansion in this area. In the region, significant resources are being spent to merge cutting-edge medical treatments with immersive technology, and this will probably accelerate market expansion across the entire region. Similar to this, increasing healthcare R&D would spur regional market expansion.

Recent Developments:
• In August 2020, its VR therapy programme for mental health and immersive technology business called ImmersiveTouch (U.S.) earned a UK Digital Experience Award, while Oxford VR's (UK) mental health programme won the Gold Award for Best Use of Emerging Technology.
• In April 2020, Oxford VR's (UK) automated virtual reality therapy, which was also highlighted in the NHSX Global Digital Exemplar, was released in April 2020. (GDE). The NHS's service for mental health, known as NHS Improving Access to Psychological Therapies (IAPT) services, has embraced and integrated the company's programme.

Segmentation of Virtual Reality Exposure Therapy Market-
By Components
• Virtual Reality Headset
• Virtual Reality Earphones
• Virtual Reality Software & Modules
• Virtual Reality Workstation
• Virtual Reality Position Tracker/ Sensors
• Biofeedback Monitor
• Other Components

By Application
• Mental Disorder & Addiction Management
• Stroke Management
• Pediatric Management
• Education & Medical Training
• Other Applications

By End User
• Hospitals
• Therapy Clinics & Surgical Centers
• Research & Training Organizations
• Other End Users

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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