Global Virtual Reality in Healthcare Market Insights Forecasts to 2033

• The Global Virtual Reality in Healthcare Market Size was Valued at USD 3.11 Billion in 2023
• The Market Size is Growing at a CAGR of 31.70% from 2023 to 2033
• The Worldwide Virtual Reality in Healthcare Market Size is Expected to Reach USD 48.84 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Virtual Reality in Healthcare Market Size is Anticipated to Exceed USD 48.84 Billion by 2033, Growing at a CAGR of 31.70% from 2023 to 2033.

Market Overview

Hospitals and healthcare providers have found virtual reality (VR) to be extremely useful. Experiencing the use of this technology, patients with addiction, depression, phobias, and autism are being diagnosed, treated, and rehabilitated. Numerous healthcare providers have begun incorporating virtual reality into their operations after realizing its potential. The fact that this technology provides a risk-free environment additionally indicates it to be an effective tool for difficult surgeries. To guarantee the precision, dependability, and security of medical virtual reality (VR) systems, the National Institute for Standards and Technology (NIST) has created a set of testing procedures and best practices.

Several factors drive the industry, including rise in the prevalence of neurological diseases, increase in the need for cutting-edge diagnostic methods, and growth in public knowledge of the many benefits of virtual reality technologies. Furthermore, key market players include Samsung Electronics Co. Ltd., EON Reality, CAE Healthcare, Oculus Rift, Medical Realities Ltd., and XRHealth Inc. The regulatory authorities' growing approval of products will be driving growth in virtual reality in healthcare market. The market is anticipated to be driven by the well-established health care market as well as the early adoption of IT services throughout healthcare facilities.  

For Instance, in March 2023, a customizable technology that helps health systems, clinicians, payers, and employer groups engage with patients remotely, Royal Philips launched Philips Virtual Care Management. In the end, this can save healthcare expenses by lowering strain on hospital staff and enhancing the management of chronic diseases. 

Report Coverage

This research report categorizes the market for the global virtual reality in healthcare market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global virtual reality in healthcare market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global virtual reality in healthcare market.

Driving Factors

Virtual reality is being used by medical professionals to improve their patients' ability to receive therapy. Medical professionals can easily identify, diagnose, treat, and train patients with VR medical care. Psychologists are using virtual reality tools extensively to address patients' problems. Virtual reality is being used more frequently in therapy sessions to address disorders such as claustrophobia, fear of darkness, and fear of heights. For instance, San Francisco-based vision care business Vivid Vision uses virtual reality to address medical issues like lazy eye. It can provide remote treatment for convergence disorder, weak eyes, and crossed eyes.          

Restraining Factors

Hardware such as virtual reality headsets might impede the healthcare industry's technological restrictions. Large in size and exhibiting many other problems, such as lumpiness and high installation costs, these clinical tools slow down the process of use. Similarly, the available resolution and computer specification/configuration might represent restricted for some health care providers.   

Market Segmentation

The global virtual reality in healthcare market share is classified into component, application, and end user.

• The hardware segment is expected to hold the largest share of the global virtual reality in healthcare market during the forecast period.   

Based on the component, the global virtual reality in healthcare market is divided into hardware, software, and content. Among these, the hardware segment is expected to hold the largest share of the global virtual reality in healthcare market during the forecast period. Head-mounted displays (HMDs), PCs, and other gadgets like laptops and mobile phones are example of VR hardware. Virtual reality headsets are widely utilized in training, education, and medical settings. The development of new, state-of-the-art equipment with improved features and functions has been spurred by the expanding usage of virtual reality technology in the healthcare market, and this has further increased the hardware segment's revenue growth.    

• The rehabilitation & therapy procedures segment is expected to hold the largest share of the global virtual reality in healthcare market during the forecast period.   

Based on the application, the global virtual reality in healthcare market is divided into pain management, education & training, surgery, patient care management, rehabilitation & therapy procedures, and post-traumatic stress disorder (PTSD). Among these, the rehabilitation & therapy procedures segment is expected to hold the largest share of the global virtual reality in healthcare market during the forecast period.  Virtual reality has proven to be a helpful tool for rehabilitation and therapeutic processes. Diverse physical activities and workouts are beneficial for patients and might speed up their recuperation. Virtual reality therapy and rehabilitation have also yielded positive outcomes in terms of improving patients' flexibility, stability, and coordination. The demand for virtual reality-based therapeutic and rehabilitation procedures has surged as a result of these benefits, which is driving the revenue growth in this market.    

• The hospitals and clinics segment is expected to hold the largest share of the global virtual reality in healthcare market during the forecast period.     

Based on the end user, the global virtual reality in healthcare market is divided into hospitals and clinics, research organizations and pharma companies, and others. Among these, the hospitals and clinics segment is expected to hold the largest share of the global virtual reality in healthcare market during the forecast period. Hospitals and Clinics surgeons are using virtual reality more frequently to help them during surgery in hospitals across the globe. The market is anticipated to grow as a result of the growing use of virtual reality in hospitals for neurological illnesses and cancer treatments. It is anticipated that the growing usage of virtual reality (VR) in hospitals for cancer treatments and neurological illnesses would raise demand for VR in the healthcare market.  

Regional Segment Analysis of the Global Virtual Reality in Healthcare Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global virtual reality in healthcare market over the predicted timeframe.

North America is anticipated to hold the largest share of the global virtual reality in healthcare market over the predicted timeframe. Due to the increased incidence of chronic illnesses and the growing need for non-invasive treatment options, virtual reality technology is also highly sought after in the healthcare sector. The usage of virtual reality technology in healthcare is particularly expanding in the United States due to rising patient demand for tailored and effective treatment options. Large technological companies like Microsoft and Google are present in the region, which contributes to the industry's growth.   

Asia Pacific is expected to grow at the fastest pace in the global virtual reality in healthcare market during the forecast period. Rising healthcare expenses and an increasing focus on building healthcare infrastructure are expected to drive market expansion in developing countries like China and India. In addition, the growing demand for non-invasive treatment options and the growing accessibility of affordable virtual reality technology are expected to drive growth in the region's market.

Europe is anticipated to hold the significant share of the global virtual reality in healthcare market over the predicted timeframe. The market is expected to grow as a result of the increasing prevalence of chronic illnesses in the region and the growing need for innovative and effective treatment options. Germany, France, and the United Kingdom are expected to have the fastest-growing virtual reality healthcare markets in Europe. Further driving market expansion is expected to be the region's heightened focus on research and development efforts.   

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global virtual reality in healthcare market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Emirates Health Services (EHS)
• Osso VR
• OCULUS
• Samsung Electronics Co. Ltd.
• EON Reality
• Medical Realities Ltd.
• HTC Corporation
• Amelia
• CAE Healthcare
• Koninklijke Philips N.V.
• Oculus Rift
• PsyTech VR
• XRHealth USA Inc.
• Sony Corporation
• Others  

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2024, The Immersive Reality Laboratory for Mental Health was launched by the Emirates Health Services (EHS), which was founded by the UAE government to improve efficiency in the federal health sector. It treats patients with various phobias and anxiety disorders without the need for a virtual reality headset. 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global virtual reality in healthcare market based on the below-mentioned segments: 

Global Virtual Reality in Healthcare Market, By Component

• Hardware
• Software
• Content

Global Virtual Reality in Healthcare Market, By Application

• Pain Management
• Education & Training
• Surgery
• Patient Care Management
• Rehabilitation & Therapy Procedures
• Post-Traumatic Stress Disorder (PTSD)

Global Virtual Reality in Healthcare Market, By End User

• Hospitals and Clinics
• Research Organizations and Pharma Companies
• Others

Global Virtual Reality in Healthcare Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa