The global VR in healthcare market is estimated to record a CAGR of 20% during the forecast period of 2019-2028
NEW YORK, June 24, 2020 /PRNewswire/ --
KEY FINDINGS
The global VR in healthcare market is estimated to record a CAGR of 20% during the forecast period of 2019-2028. The factors boosting global market growth are the increasing use of VR technology for training purposes, surge in the number of VR based startups, rising aging population, enhancing spending on healthcare, and upgrading technology in healthcare.
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MARKET INSIGHTS
Virtual reality (VR) is the use of computer technology to create a simulated environment.Healthcare is one of the major sectors effectively and efficiently utilizing VR, which is aiding the patients and healthcare professionals to enhance their experience in healthcare services.
The VR based training has been used by healthcare institutes, academia, and labs for a long time.VR provides an ideal tool for healthcare simulation training as it involves multiple learning systems in the brain in synchrony.
Situational awareness is defined as the ability to comprehend how events, actions, and information affect the present and future situations, and is crucial in healthcare settings. Healthcare professionals must have the ability to make quick and appropriate decisions under time or social pressure.
There is a scarcity of trained professionals who can perform VR procedures, which restrains the market growth. The distinguished market players are trying to expand their global reach through various strategies like collaborations, partnerships, joint ventures, acquisitions.
REGIONAL INSIGHTS
The global VR in healthcare market is regionally reviewed by considering the markets situated in North America, Europe, Asia Pacific, and the Rest of the World. North America holds a dominant revenue share in the market in 2019, and continues the trend throughout the forecast period, due to the growing government and private investment towards the development of VR technologies In the healthcare sector.
COMPETITIVE INSIGHTS
The developing market of VR technology is attracting the attention of prominent p[layers, including Koninklijke Philips, General Electric, Siemens, Microsoft Corporation, Sony Corporation, among others.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned
1. GENERAL ELECTRIC
2. ALPHABET INC (GOOGLE)
3. MICROSOFT CORPORATION
4. SONY CORPORATION
5. SIEMENS
6. KONINKLIJKE PHILIPS NV
7. SYNCTHINK INC
8. FIRSTHAND TECHNOLOGY INC
9. APPLIEDVR INC
10. ORCA HEALTH
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