DUBLIN--(BUSINESS WIRE)--Jun 26, 2020--

Amid the COVID-19 crisis and the looming economic recession, the Virtual Reality (VR) In Healthcare market worldwide will grow by a projected US$1.9 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 30.7%. Hardware, one of the segments analyzed and sized in this study, is forecast to grow at over 34.2% and reach a market size of US$1.2 Billion by the end of the analysis period.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.

An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Hardware market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 34.4% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$51.7 Million to the region's size over the next 7 to 8 years. In addition, over US$87.5 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Hardware segment will reach a market size of US$51.8 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Virtual Reality (VR) In Healthcare market.

Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 30.9% over the next couple of years and add approximately US$192.4 Million in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Virtual Reality (VR) In Healthcare market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others,

  • 5DT (Fifth Dimension Technologies)
  • CAE Healthcare
  • EON Reality
  • Firsthand Technology
  • GE Healthcare
  • Intuitive Surgical, Inc.
  • Medtronic, Inc.
  • Mimic Technologies Inc.
  • Philips Healthcare
  • Siemens Healthineers
  • Surgical Science Sweden AB
  • Virtually Better, Inc.
  • Vital Images, Inc.
  • Vuzix Corporation
  • WorldViz

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Virtual Reality - A Disruptive Technology
  • Recent Market Activity
  • Virtual Reality Brings in a Transformation in Healthcare
  • Market Outlook
  • Developed Regions Dominate the Market
  • Growth Drivers in a Nutshell
  • Challenges to Reckon With
  • Cost: A Major Issue
  • Competitive Scenario
  • Start-ups in Healthcare VR Make an Impact
  • Virtual Reality Redefines Training Programs for Clinicians and Students
  • VR in Surgical Training
  • Training for Paramedics, ER doctors, and First-Responders
  • Virtual Reality Gains as a Diagnostic Tool
  • VR Gains Prominence in the Dentistry Sector
  • Allaying Patients; Surgery-Related Apprehensions
  • VR Emerges as an Established Approach for Phobia Management
  • VR in Treatment of Dementia
  • Virtual Reality Grows in Importance in Pain Management
  • Transforming Management of Chronic Pain
  • Virtual Reality for Management of Pain in Burn Victims
  • Virtual Reality in Cancer Therapy
  • Stroke Care - An Emerging Application
  • Opportunities in Rehabilitation
  • Virtual Reality Gain Acceptance in Remote Home Assessments
  • Anxiety Disorders and Virtual Reality
  • VR for Healthy Lifestyles
  • VR to Help People with Substance Use Disorders
  • An Effective Tool for Designing Assisted Living Facilities
  • VR Evolves as an Efficient Marketing Tool
  • Global Competitor Market Shares
  • Virtual Reality (VR) In Healthcare Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Medical Visualization Solutions: A Promising Market for VR Technology
  • Treatment for Eye Problems - An Opportunity Market
  • VR Simulators for Surgical Robots Grow in Demand

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 42

For more information about this report visit https://www.researchandmarkets.com/r/14gct2

Laura Wood, Senior Press Manager

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HEALTH OTHER TECHNOLOGY OTHER HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 06/26/2020 11:33 AM/DISC: 06/26/2020 11:33 AM

Copyright Business Wire 2020.