Surging Use of VR Technology augments the Global VR in Healthcare Market Growth at 20% CAGR

Inkwood Research projects that the Global VR in Healthcare Market is estimated to register a CAGR of 20% during the forecasting years of 2019-2028.

"Browse 53 market Data Tables and 51 Figures spread over 200 Pages, along with an in-depth TOC on the Global VR in Healthcare Market Forecast 2019-2028."

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Virtual Reality (VR) is the use of computer technology to create an assumed environment. Unlike conventional user interfaces, VR places the users inside an environment, where they are immersed and are able to interact with 3D worlds. Healthcare, retail, education, gaming, entertainment, and other industries are benefitted by VR technology. Healthcare is proving to be one of the important sectors, effectively and efficiently utilizing VR in its present form.

Growing Use of VR Technology for Training Purposes Fuels Market Growth

The VR based training has been used by healthcare institutes, academia, and labs for a long time. VR based training simulates a 3D environment through a specially designed audio-visual headset. It reduces the level of distraction, and immerses the trainee in the simulation to the extent that they respond to it just as they would in a real-life situation. The trainees acquire not only information relevant to their job, but they can modify their skills right from the beginning. VR provides the ideal tool for healthcare simulation situational awareness training.

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Surgical Planning Application maintains the Largest Revenue Share over the Forecast Period
During surgical procedures, VR aids surgeons in pre-operative planning of surgeries to have an enhanced view of the complex anatomy of the human body and 3D structures. With the help of external cameras, a surgeon can virtually notice details of the patient's anatomy, which is not possible with conventional imaging, and perform the surgery more precisely. One of the processes used in VR-based training, planning, and navigation is segmentation. Segmentation helps a surgeon to visualize and track the affected area for surgery. Specialists utilize virtual reality innovations to perform medical procedures, as the technology helps in reducing errors. For example, Fundamental VR has made a framework for knee replacement medical procedures, enabling the doctors to rehearse how to infuse sedatives accurately.

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Asia Pacific Region Predicted to Register the Highest CAGR by 2028

Asia Pacific is expected to be the fastest-growing region during the forecast period. The region offers lucrative growth opportunities, due to the introduction of several measures to promote the growth of the VR industry in healthcare.

The prominent contributors in the market are trying to extend their global reach by adopting different strategies such as partnerships, collaborations, joint ventures, and acquisitions with different and renowned organizations and end-users in the AR and VR market. The major players acquire small companies to expand their portfolio. The developing AR and VR markets have gained curiosity about the eminent players, including Microsoft Corporation, General Electric, Siemens, Sony Corporation, Koninklijke Philips NV, among others.

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This release was published on openPR.