Virtual Reality Therapy Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Virtual Reality Therapy Market Size

The global market for Virtual Reality Therapy was valued at US$ 1116 million in the year 2024 and is projected to reach a revised size of US$ 1626 million by 2031, growing at a CAGR of 5.6% during the forecast period.

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Increasing prevalence of mental health disorders: There has been a significant rise in the prevalence of mental health disorders globally. VR therapy offers a non-invasive and effective alternative to traditional therapy methods. It provides a safe and controlled environment for individuals to confront and manage their fears, anxieties, and traumas, leading to better treatment outcomes.

Advancements in VR technology: Technological advancements have greatly improved the capabilities and accessibility of VR devices and software. Modern VR systems are more affordable, user-friendly, and offer higher fidelity experiences. This has made virtual reality therapy more accessible to healthcare providers and patients, driving market growth.

Growing acceptance and adoption by healthcare professionals: There is a growing recognition among healthcare professionals of the potential benefits of VR therapy. Studies have shown promising results in using VR therapy for conditions like PTSD, phobias, and anxiety disorders. As a result, more healthcare practitioners are incorporating VR therapy into their treatment plans, thereby boosting the market growth.

Increasing investment and funding: The virtual reality therapy market has attracted
significant investment and funding from venture capitalists, technology companies, and pharmaceutical companies. This investment is driving research and development efforts to enhance VR therapy solutions and expand their applications across different healthcare sectors, contributing to market growth.

Expansion of VR therapy beyond mental health: Virtual reality therapy is not limited to mental health disorders. It is also being leveraged for physical rehabilitation, pain management, and as a tool for training healthcare professionals. With the increasing focus on holistic healthcare and the need for innovative treatment solutions, VR therapy is gaining traction in these areas, opening up new avenues for market growth.

Overall, the global virtual reality therapy market is driven by the increasing prevalence of mental health disorders, advancements in VR technology, growing acceptance by healthcare professionals, increasing investment and funding, and the expansion of VR therapy beyond mental health. As VR technology continues to evolve and research in VR therapy progresses, it is expected to revolutionize the field of mental health treatment and rehabilitation.

This report aims to provide a comprehensive presentation of the global market for Virtual Reality Therapy, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Virtual Reality Therapy.

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By Type
• Non Immersive
• Fully Immersive

By Application
• Psychotherapy
• Virtual Rehabilitation
• PTSD
• Occupational Therapy
• Lesion Therapy

Key Companies
Siemens Healthcare, Virtalis Ltd, CAE Healthcare, GE Healthcare, Virtual Realities, Qualcomm Technologies Inc, Samsung Group, Vuzix, Mimic Technologies Inc, Brainlab, Applied VR, Psious

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This release was published on openPR.