The global market for Virtual Reality (VR) in Healthcare is projected to reach US$4.7 billion by 2024, driven by robust technology advancements in healthcare IT, expanding applications into diverse medical disciplines, and increasing demand for economical alternatives for medical simulation training and rehabilitation. With the ability to provide fully immersive 3D simulation for clinicians, VR technology continues to gain visibility as a potent diagnostic and therapeutic tool for diseases such as phobias, autism, post-traumatic stress disorder (PTSD), depression, anxiety, and pain management especially severe pain in burn victims. Other major factors driving growth in the market include strong venture capital investments in innovative augmented and virtual reality (AR/VR) start-ups; changing healthcare policies and migration to value based care; and shifting healthcare strategies from reactive to proactive personalized medical interventions. The United States represents the largest market worldwide supported by strong R&D, increased investments in VR technology by government and private companies; large base of early adopters; and the growing focus on empowering personal health via technologies such as medical wearables and digital reality apps. Asia-Pacific is projected to emerge as the fastest growing market with a CAGR of 21.8% over the analysis period led by developing healthcare infrastructure; strong appetite for innovative medical technologies capable of lowering healthcare costs; and ability of the technology to offer economic and social value by enabling patients to lead healthier and higher-quality lives.
DOMAIN EXPERT ENGAGEMENTS
Number of executives repeatedly engaged by snail & email outreach*
POOL + OUTREACH
Interactions with Platform & by Email *
Unique # Participated *
Responses Validated *