According to FutureWise analysis the market for Virtual Reality (VR) in Healthcare in 2023 is US$ 1.01 billion, and is expected to reach US$ 10.17 billion by 2031 at a CAGR of 33.40%.
In the coming years, virtual reality is likely to alter the healthcare business. It enables the integration of IT solutions in the healthcare area by changing the way patients are handled. It also aids in medical education, medical marketing, surgical procedures, and disease awareness. When used in conjunction with other diagnostic procedures such as MRI/CT scans, virtual reality can be a very effective tool. Furthermore, it aids in the treatment of panic attacks and anxiety; cognitive distraction approaches, as well as virtual reality, aid in the treatment of pain. The rise in occurrences of neurological illnesses, increased demand for innovative diagnostic techniques, and increased awareness of the benefits of virtual reality technology are the primary drivers driving the global virtual reality in healthcare market. Furthermore, recent advancements in the realm of information technology, such as improved computers, laptops, internet connectivity, and mobile applications, will push market expansion even more. However, the market is projected to be hampered by high treatment costs, user data privacy concerns, and lack of access to virtual reality technology in emerging economies. Increased use of virtual reality in improved dentistry operations and cancer therapies, on the other hand, is expected to give profitable prospects for the VR in healthcare market to develop in the near future.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Virtual Reality (VR) in Healthcare Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Virtual Reality (VR) in Healthcare Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.