Metaverse in Healthcare Market Growth Set to Surge Significantly by 2031

Metaverse in Healthcare Market worth $71.2 Billion by 2030 - Exclusive Report by InsightAce Analytic Pvt. Ltd.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Metaverse in Healthcare Market (Component (Software, Hardware), Technology (AR, VR, AI, MR), Device (VR Headsets, AR Devices, Mixed Reality Platforms), End-user (Medical Training & Education Modules, Diagnosis, Treatment, Designing ORs, Surgical Training, Remote Monitoring, and Others)) Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
InsightAce Analytic's most Recent research indicates that the global metaverse in healthcare market is worth US$ 5.06 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 34.8% from 2022 to 2030, reaching US$ 71.97 billion. In 2021, North America held a substantial market share, dominating the market by region.

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As major social players integrate different facets of virtual reality and immersive experiences, the Metaverse-an emergent concept-will add many new dimensions. It will be a fantastic tool in the healthcare industry to educate, empower, and give patients and providers happy experiences. Because the Metaverse integrates AI, virtual reality, augmented reality, the Internet of Medical Devices, Web 3.0, intelligent cloud, edge and quantum computing, and robots, its impact on healthcare transformation cannot be understated. Augmented reality is poised to revolutionize patient medical encounters with its humorous headgear and sci-fi excursions. Since robotics has already been employed in surgical procedures, augmented reality will soon be used in complex surgeries. Physicians and specialists instruct other Doctors and medical staff using virtual reality.

The Metaverse's expansion in the healthcare industry will be aided by the growing use of AR platforms to carry out intricate surgical procedures with more accuracy and versatility. Increased partnerships between large corporations to develop AR and VR solutions to enhance the overall surgical environment and growing investment to create metaverse platforms to revolutionize the healthcare industry are other vital factors anticipated to drive market revenue in the coming years. More and more businesses are investing extensively in digital healthcare platforms to improve telemedicine experiences, speed up the shift to virtual reality, and improve other medical services through augmented reality.

Challenges for the Metaverse in the healthcare market include patient data privacy, the expensive cost of high-tech hardware and gadgets, and the growing expenses of increasingly sophisticated digital healthcare infrastructure.
North America is expected to lead over the forecast period. The region's high concentration of metaverse-focused businesses, quick improvements in healthcare infrastructure, integration of AR and VR platforms and devices in the healthcare industry, higher investment in AR goods and applications, and hardware and software changes are all responsible for this.

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Prominent market players are Intuitive Surgical Inc., CableLabs, Microsoft, Google LLC, Meta Platforms, Inc., 8chilli, Inc., Global Healthcare Academy, 3D Systems Corp., AccuVein Inc., BioflightVR, CAE Inc., Devden Creative Solutions Pvt. Ltd., Dhi Tattva Solutions Pvt. Ltd., Eon Reality Inc., ImmersiveTouch Inc., Intuitive Surgical Inc., Koninklijke Philips NV, Medical Realities Ltd., MindMaze SA, Oodles Technologies, Siemens AG, Sky gate, UnitedHealth Group Inc., Wipro Ltd., WorldViz Inc.

Key Developments in the market
• In Apr 2022, Meta Platforms spent $10 billion to build the Metaverse 2021. The company is building the world's fastest supercomputer to accelerate metaverse-related workloads, with completion expected by the year. Meta Platforms appears to have taken a significant step toward monetizing the Metaverse with its Horizon Worlds virtual reality social platform. The company has announced that it is now testing a method for creators and developers to sell virtual items and experiences within the Metaverse's three-dimensional worlds.
• In Mar 2022, ventyn Enters the Health Metaverse With 8chili HintVR Virtual Reality Platform for Innovations in Care Coordination. Artificial Intelligence Virtual Reality platforms combined with the power of 3D content and digital health applications enable virtual training, patient engagement, education and health coaching
• In Feb2022, Apollo Hospitals collaborate with 8chili Inc to foray into the Metaverse. The initiative will enable patient counselling in virtual reality and help increase patient outcomes. The industry will also occupy the users in virtual reality-mediated activities to encourage their abilities to regulate emotion. This personalized approach to each patient will contribute to increased patient satisfaction.
• In Nov 2021, A new feature was introduced by Microsoft. The feature combines Microsoft Mesh's mixed-reality capabilities. This feature allows people in different physical locations to join collaborative and shared holographic experiences with Microsoft Teams' productivity tools. It lets people join virtual meetings, send chats, collaborate on shared documents, etc.

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Market Segments
Global Metaverse in Healthcare Market, by Component, 2022-2030 (Value US$ Mn)
• Software
• Hardware

Metaverse in Healthcare Market, by Technology, 2022-2030 (Value US$ Mn)

• AR
• VR
• AI
• MR

Metaverse in Healthcare Market by Device, 2022-2030 (Value US$ Mn)
• VR Headsets
• AR Devices
• Mixed Reality Platforms

Metaverse in Healthcare Market by End-User, 2022-2030 (Value US$ Mn)
• Medical Training & Education Modules
• Diagnosis
• Treatment
• Designing ORs
• Surgical Training
• Remote Monitoring
• Others

Metaverse in Healthcare Market by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Metaverse in Healthcare Market by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Metaverse in Healthcare Market by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Metaverse in Healthcare Market by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Metaverse in Healthcare Market by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
The Middle East & Africa Metaverse in Healthcare Market by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of the Middle East & Africa

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