Healthcare in Metaverse Market Overview
MRFR recognizes the following companies as the key players in the global Healthcare in Metaverse Market — Medical Realities Ltd (UK), PlushCare (US), Roblox Corporation (US), and Medtronic PLC (Ireland).
The global Healthcare in Metaverse Market is accounted to register a CAGR of 48.3% during the forecast period and is estimated to reach USD 5.8 billion by 2030.
The integration of healthcare into the Metaverse involves incorporating medical services and resources within virtual shared spaces. This includes virtual health consultations, monitoring health data through avatars, medical education, therapeutic applications for pain management and mental health, fitness programs, medication information, support communities, and collaborative research. Users could access medical advice, therapies, and educational content, while healthcare professionals could offer consultations and collaborate on research virtually. Considerations include privacy, security, and ethical concerns related to health data management in this digital environment. It's important to note that the concept and applications of the Metaverse are evolving, and the integration of healthcare services represents a potential avenue for enhancing medical accessibility and collaboration.
Segment Analysis
The global Healthcare in Metaverse Market has been segmented based Component, Technology, Applications.
The healthcare in metaverse market segmentation, based on component, includes software and hardware [VR headsets, AR devices, others]. The hardware sector to dominate the market due to the development of augmented/virtual reality headsets for improved results and convenience is expected to cause. Additionally, the company's attempts to create cutting-edge haptic metaverse devices are contributing to the segment's growth.
The healthcare in metaverse market segmentation, based on technology, includes telemedicine, augmented reality/ virtual reality/ mixed reality, artificial intelligence, digital twins, blockchain, and others. In 2021, the telemedicine sector dominated the market. The main drivers of the growth of the telemedicine are the rise in demand for radiological services brought on by the increased prevalence of chronic conditions including congestive heart failure, orthopaedic injuries, and others.
The healthcare in metaverse market data has been bifurcated by application into patient engagement, pre-operation & post-operation planning, immersive 3D training, 3D lectures, VR therapy, remote monitoring, and others. The remote monitoring segment dominated the market in 2021. The growing elderly population and rising disposable income are driving the growth of the remote patient monitoring market share. Because of the rapidly rising population and the rise in the prevalence of chronic diseases, there has been an increase in demand to improve healthcare infrastructure, a surge in the cost benefits of telehealth, and an increase in remote patient monitoring technology in recent years.
Regional Analysis
The global Healthcare in Metaverse Market, based on region, has been divided into North America, Europe, Asia-Pacific and Rest of the World. North America Healthcare in Metaverse market accounted for USD 0.10 billion in 2021 and is expected to exhibit a significant CAGR of 42.9 percent growth during the study period. Due to the rapid expansion of the healthcare infrastructure and the use of digital technology, North America currently controls the healthcare in metaverse sector. The market is also expanding as a result of the considerable number of metaverse technology-focused businesses in the area. In the United States, 400 million monthly active users of Metaverse will be reached in 2022, an all-time high. Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe healthcare in metaverse market accounts for the second-largest market share. It is also projected that rising government measures to encourage digital health solutions and the expanding use of cutting-edge technology for remote health management will speed up market expansion in Europe. For instance, the WHO created the "United Action for Better Health" European Programme of Work (EPW) in 2020, which establishes goals for the future of healthcare and supports digital healthcare technology across Europe to enhance the interface between service providers and consumers. Further, the Germany healthcare in metaverse market held the largest market share, and the UK healthcare in metaverse market was the fastest growing market in the European region.
The Asia-Pacific Healthcare in Metaverse Market is expected to grow at the fastest CAGR from 2022 to 2030. As a result of its developments in healthcare technology, Asia Pacific is expected to grow at the quickest rate during the projection period. The MIIT and five other regulators jointly published a four-year action plan on November 1, 2022, to combine virtual reality technology with industrial applications. This action plan is recognised as the nation's first national-level policy supporting the growth of the metaverse in China. In addition to substantial investment in integrating this technology with medical equipment, collaborations between metaverse technology businesses and the healthcare industry are fueling growth.
Key Findings of the Study
- The global Healthcare in Metaverse Market is expected to reach USD 5.8 billion by 2030, at a CAGR of 48.3% during the forecast period.
- The Asia-Pacific Healthcare in Metaverse Market is expected to grow at the fastest CAGR from 2022 to 2030. As a result of its developments in healthcare technology, Asia Pacific is expected to grow at the quickest rate during the projection period.
- The healthcare in metaverse market segmentation, based on component, includes software and hardware [VR headsets, AR devices, others]. The hardware sector to dominate the market due to the development of augmented/virtual reality headsets for improved results and convenience is expected to cause.
- Medical Realities Ltd (UK), PlushCare (US), Roblox Corporation (US), and Medtronic PLC (Ireland).
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Companies Covered | 15 |
Pages | 100 |
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