DUBLIN--(BUSINESS WIRE)--The "Virtual Reality Healthcare Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029" report has been added to ResearchAndMarkets.com's offering.
The VR market is expected to grow at a phenomenal CAGR of 25% during the forecast period of 2021 to 2029.
It is an artificial environment created by developers using various software. Virtual reality is an interactive environment in which a person can experience real world scenario. Virtual reality systems consist of helmet or a head mounted display (HMD), gloves, sensors and a virtual reality engine. Virtual reality is the complete simulation of real world scenario virtually by using various semi and fully immersive technologies. It is rapidly gaining popularity in the healthcare segment.
Fully Immersive Technology To Dominate The Market Now and in The Future
The main motive of any virtual reality system is to indulge the user in virtual world and it must be consistent in providing sensory stimulation to prevent user from becoming aware of real world around him as long as a user is aware of the interaction device, he is not truly immersed. A truly immersive experience make the user to become unaware of his real surroundings, In order to achieve the true immersion, researchers have developed innovative input methods that are more natural to user. Fully immersive systems are dominating the market. Fully immersive systems give user a sense of presence or being inside a virtual world with the help of head mounted display and user can interact with the virtual environment in meaningful way but the sense of immersion depends on several parameters including the field of view of the head mounted display, the screen resolution, information update rate, contrast and illumination of the display.
Training and Simulation Dominates The Healthcare Applications Market
The Experts believe that the medical knowledge doubles every 6-8 years there are various new methods and technologies being introduced into the market. The virtual reality market would enable the students to imbibe knowledge easily and in a better way. The artificial environment created in the virtual reality market enables the student to feel and visualize the nuances of medical terminology. It enables them to thoroughly analyze the concepts and remember it for long term. It is found that the conventional methods for medical students are dull and mundane; however, the virtual reality would enable them to experience the concepts such as virtual dissection of body and so on.
North America Continues To Have The Lion's Share
North America has the largest market with 80% market share (2014). The US has the largest share amongst countries with over 75% market share . The US market is driven by strong research and development and investment by government and private firm. In the US virtual reality is being widely used in the training and development of healthcare professionals, it is being widely used in the treatment of depression and phobia. Europe is the second largest market with 15% share followed by Asia-Pacific and Rest of the world. ROW has the highest CAGR followed by Asia Pacific. Currently, the main players in 3D diagnostic imaging are GE Healthcare, Siemens, Philips, Toshiba and BARCO. R&D and focus on innovations are the key market strategies that enable the companies to enhance their market presence. Deriving cost effective solutions will enhance the market share of the companies.
Key questions answered in this report
- What are the key market segments in current scenario and in the future by product categories
- What are the key market segments in current scenario and in the future by regions
- What is the key impact of Covid-19 over market revenues and market determinants in the wearable injectors market?
- What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
- What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
- How to overcome the current market challenges and leverage the opportunities in each of the market segment?
- Who are the key players in the Virtual reality in healthcare market and what are their key product categories and strategies?
- What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
Market Dynamics
Drivers
- Increase in demand for vr across application segments
- Intense VR Research and Development to Enable Effective Commercialization
- Big players entering into the virtual reality market
- Spending on healthcare has been increased
Restraints
- Expensive Technology
- Standard of virtual environment
Opportunities
- Emerging applications and advancement in virtual reality
- Technological enhancement
- Partnership gives new dimensions to virtual reality market
Challenges
- Market transition from bulky devices to portable size
- Close to reality but not actual
- To provide technology at affordable price
Companies Mentioned
- Virtalis
- Immersion corporation software
- Virtual realities LLC products portfolio
- CAE
- Mimic technology
- Intuitive Surgical
- Simulab Corporation
- GE healthcare
- Laster technologies
- Vuzix Corporation
- Vital images
- WorldViz
- Brainlab AG
For more information about this report visit https://www.researchandmarkets.com/r/8kmcdk
