“Rise in incidences of neurological disorders and increase in number of VR-based startups drive the growth of the global VR in healthcare market.”
The global VR in healthcare market garnered $240.91 million in 2018, and is expected to generate $2.38 billion by 2026, registering a CAGR of 33.18% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Rise in incidences of neurological disorders and increase in number of VR-based startups drive the growth of the global VR in healthcare market. However, data privacy concerns of the users hinder the market growth. On the other hand, rise in use of VR in dentistry and cancer therapies create new opportunities in the coming years.
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Covid-19 scenario:
- The government of several nations declared lockdown to control the spread of coronavirus. Therefore, the manufacturing of VR tools and devices for healthcare applications has been stopped.
- Moreover, majority of the VR tools and devices manufacturers across various countries have entered in the recovering phase during the as the effect of coronavirus pandemic reduces.
The report offers a detailed segmentation of the global VR in healthcare market based on product, technology, end user, and region.
Based on product, the majority of share was contributed by VR sensors segment. It accounted for nearly one-fifths of the total share in 2018, and is estimated to maintain its lead position during the forecast period. Furthermore, the same segment is anticipated to grow at the highest CAGR of 33.9% during the forecast period.
Based on technology, the majority of share was contributed by the projector and display walls segment, accounting for more than two-fifths of the total share in 2018, and is expected to maintain the its dominance from 2019 to 2026. In addition, the same segment is estimated to portray the highest CAGR of 33.3% during the forecast period.
Based on region, North America will maintain its dominance throughout the forecast period and contributed the majority share, which is more than two-fifths of the total market share, in 2018. However, Asia-Pacific is projected to grow at the largest CAGR of 37.4% during the forecast period.
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Frontrunners in the industry-
Firsthand Technology Inc., Alphabet Inc. (Google), Microsoft Corporation, General Electric, Koninklijke Philips N.V. (Philips), EchoPixel, Orca Health Inc, AppliedVR, Inc., Orca Health Inc, and DAQRI.
Scope of The Report:
| Report Attribute | Details |
| Market size available for years | 2018-2026 |
| Base year considered | 2018 |
| Forecast period | 2019-2026 |
| Forecast units | Value (USD) |
| Segments covered | Product, Technology, and End User |
| Geographies covered | North America, Europe, Asia-Pacific, LAMEA |
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