According to Market Research Future Analysis, global virtual reality in therapy market is expected to reach approximately USD 3.9 billion by the end of 2023 with 32% CAGR during forecast period 2017-2023. Market has been segmented into device, technology, application and region.
VR in Therapy Market
Advanced systems are used to record lectures to educate healthcare practitioners, trainee medical students, or patients about surgical and therapeutic procedures so that it can be saved in the databases. The healthcare sector is one of the biggest adopters of virtual reality for training the next generation of medical professionals. Therefore, technology plays an important role in every day’s life. The factors such as growing collaboration between hardware vendors and medical device content providers, technological changes and the growing usage of advanced technologies in live streaming of surgeries for medical education with patient monitoring & pain management serves and government initiatives are expected to boost the growth of the virtual reality in therapy market over the forecast period, 2017-2023.
On the basis of technology, the market can be segmented into full immersive, semi-immersive and non-immersive among others. Out of these, full immersive accounted for the largest market share majorly due to owing to the increasing adoption of VR software platforms and applications across the globe and growing usage of augmented as well as virtual reality in hospitals. However, semi- immersive segment is expected to boost the growth of the market over the forecast period, 2017-2023.
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On the basis of devices, the market can be segmented into head mount, projectors and gesture controls among others. Out of these, head mount accounted for the largest market share majorly due to increasing investments by major players, increased adoption of ar and vr technologies and availability of low-cost head mounted displays. However, gesture controls segment is expected to grow over the forecast period, 2017-2023.
On the basis of application, the market can be segmented into phobia treatment, robotic surgery, visualization, rehabilitation, treat of post-traumatic stress disorder, treatment of autism and surgery simulation among others. Out of these, phobia treatment segment accounted for the largest market share majorly due to rising numbers of neurological disorders, growing demand for innovative diagnostic techniques and increasing disease awareness.
On the basis of region, the market can be segmented into North America, Europe, Asia-Pacific and Rest of the world.
The key players in the global Virtual Reality In Therapy Market include- Siemens Healthcare (Germany), Virtalis Ltd (U.K.), CAE Healthcare (U.S.), GE Healthcare (U.S.), Virtual Realities, Llc (U.K.), Qualcomm Technologies, Inc. (U.S.), Samsung Group (South Korea), Vuzix (U.S.), Mimic Technologies Inc, (U.S.), Brainlab (Germany) among others.
By Region, MRFR analysis shows that, Asia-Pacific region is expected to grow over the forecast period majorly due to increasing implementations of various government initiatives, presence of large number manufacturers in this region and the growing implementation of virtual reality across various sectors. Countries such as China, Japan and Australia contributes largely to the overall growth of the market.
Europe is expected to have a stable growth rate over the forecast period, 2017-2023. However, North-America accounted for the largest market share. Countries such as U.S contributes largely to the overall growth of the market. The reason of this growth is attributed to rising demand for advanced technological solutions installed in various organizations.
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