Virtual Reality in Therapy Market Research Report - Global Forecast to 2027

Global Virtual Reality in Therapy Market, By Device (Head mount, Gesture Control), By Technology (Non-Immersive, Fully Immersive), By Application (Phobia Treatment, Robotic Surgery) - Forecast 2027

ID: MRFR/ICT/2959-HCR | February 2021 | Region: Global | 100 pages

Market Overview:
Virtual reality is the utilization of computer technology to build a simulated environment, and such technology has a crucial role in everyday life. In the modern world, virtual reality is widely used in several fields as it enriches the user experience and provides a more immersive as well as interactive environment. In the healthcare sector, virtual reality is extensively utilized to record lectures while educating trainee medical students, healthcare practitioners, or patients about therapeutic and surgical procedures. Such information can easily be stored in the databases and accessed later on. The higher adoption of virtual reality in the healthcare field is the driving force of virtual reality in therapy market.

Over the years, the demand for virtual reality in therapy business has escalated, and the reason behind this is increasing requirements for better technological solutions. The presence of a highly competitive landscape is leading to the creation of innovations and a cost-effective product portfolio. Various well-established virtual reality in therapy market players and new entrants are engaging in producing high-quality solutions that can result in the expansion of the virtual reality in therapy market size. 

With strategic mergers and acquisitions of the market players as well as rising research and development investments, the virtual reality in therapy market potential will elevate to a greater extent. The virtual reality systems offer different functions like collaborative technologies, online learning sources, better learning programs, digital learning resources, and many more. All such features are projecting the virtual reality in therapy market growth to the highest levels.

The report focuses on the virtual reality in therapy market structure and the growth aspects of the overall market. It includes several factors that impact the market growth and also provides ideas about virtual reality in therapy market segments. The report sheds light on different regions that elaborate the market presence and mentions some major virtual reality in therapy market players. There is no doubt that market demand is evolving at a breakneck pace. With this surging demand, the virtual reality in therapy market valuation is expected to attain approximately USD 3.9 Billion by the year 2023. The CAGR of the market is anticipated to be 32 percent during the forecast period 2017-2023.


COVID19 Analysis:
The upsurge of the harsher consequences of the COVID19 pandemic has ruined the entire world in terms of health and finance. The economic growth rate declined to lower rates during the pandemic. Every field witnessed the drastic phase of financial losses and was unable to execute normal functions related to work. The lockdown restrictions ensured the closure of manufacturing units and industrial operations. Moreover, the demand to supply gap broadened a lot. Virtual reality in therapy market also got affected by the negative impacts of the pandemic.


However, the dependence on virtual reality increased a lot during the pandemic, especially for medical practitioners and professionals. The escalated demand has led to the rise of virtual reality in the therapy business and restored market growth. Even the market players attempted to bring advanced solutions that can improve the user experience, which helped in providing a substantial rise in the global virtual reality in therapy market value.


Market Dynamics:
Major Drivers of The Market
The increasing collaboration between medical device providers and hardware vendors is resulting in the virtual reality in therapy market growth. The government initiatives for bringing efficient solution in the healthcare field has progressed the market potential a lot. Moreover, the rising demand for enhanced technological solutions is also leading to the progression of the virtual reality in therapy market size in the upcoming years.

According to the virtual reality in therapy market analysis, the adoption of advanced technologies is uplifting the market value upwards. The advantages of virtual reality systems in providing better learning programs, online learning sources, collaborative technologies are raising the global virtual reality in therapy market demand more and more.

Significant Opportunities for The Market:
With the higher utilization of handheld devices and the elevating demand for easier education ways in the healthcare sector, the virtual reality in therapy market is also escalating. The demand for virtual reality systems will increase as they can educate patients about therapeutic and surgical procedures. It also helps medical professionals to closely visualize operating areas that can raise the virtual reality in therapy business in the forecast period.

The efforts of virtual reality in therapy market players in creating innovative solutions and cost-effective product portfolios will surge the market value in the upcoming times. The highly competitive landscape will also contribute largely to the growth of virtual reality in therapy industry.


Market Restraints:
The coronavirus pandemic outbreak has impacted the virtual reality in therapy market and somehow halted the market growth. Due to the lockdown, industries and production units remained closed, and no sector was able to continue its normal functions. However, the increased need for advanced technologies for learning processes in the pandemic escalated the market demand. This helped in restoring the growth and elevated the virtual reality in therapy market size.

Market Growth Challenges:
Virtual reality in therapy market possesses several growth opportunities that can push the market to greater heights. However, it contains few challenges too. Several rules and regulations can hamper the expansion of the market. Moreover, the high cost involved in it can restrict the virtual reality in therapy market growth in the next many years.

Cumulative Growth Challenges:
As per the virtual reality in therapy market analysis, the demand for virtual reality is going to surge in the healthcare sector more in the forecast years with a growth rate of 32 percent. The key market players are trying immensely to eliminate the limitations and provide solutions for an amazing user experience. Such attempts will boost the virtual reality in therapy business demand in the near future.

Segment Overview:
The virtual reality in therapy market is fragmented into certain segments based on devices, technology, application, and region.

  • By Devices: The virtual reality in therapy market segmentation on the basis of devices comprises gesture control, projectors, head-mount, and others. Out of all the virtual reality in therapy market segments, head mount devices will have a higher market share in the upcoming years. It will elevate due to the increasing investments by market players, more adoption of AR and VR technologies, and the presence of low-cost head-mounted displays.

  • By Technology: In this segment, the virtual reality in therapy market includes non-immersive VR, semi-immersive VR, and fully immersive VR. It shows different technologies that can be utilized in the healthcare field.

  • By Application: The application segment of the virtual reality in therapy market consists of robotic surgery, rehabilitation, phobia treatment, visualization, treatment of autism, treatment of PTSD or post-traumatic stress disorder, surgery simulation, and many more.

  • By Region: This segment involves several geographies such as North America, Asia-Pacific, Europe, and other parts of the world.


Regional Analysis:
The virtual reality in therapy market analysis is done in certain areas such as Asia-Pacific, North America, Europe, and other parts of the world. The North American region holds the largest virtual reality in therapy market share all around the world, and the countries like Canada and the US contribute the most to it. The rising demand for high-end technologies, the escalating research and development happening in the region, and the high usage of VR in the healthcare sector are the reasons attributing the market growth. 


In the Asia Pacific region, the presence of numerous manufacturers and elevating the growth of medical institutes will contribute to the virtual reality in therapy market growth in the region. It will have the fastest growth during the forecast period.


Competitive Landscape:
The prominent virtual reality in therapy market players is mentioned in the following:

  • Brainlab (Germany)

  • Siemens Healthcare (Germany)

  • Mimic Technologies Inc, (U.S.)

  • Virtalis Ltd (U.K.)

  • Vuzix (U.S.)

  • CAE Healthcare (U.S.)

  • Samsung Group (South Korea)

  • GE Healthcare (U.S.)

  • Qualcomm Technologies, Inc. (U.S.)

  • Virtual Realities, LLC (U.K.)


Recent Developments:

  • As the COVID19 concerns were raising, several advanced VR headsets prioritize materials and parts that are easy to clean.

  • Telehealth is a process that has been present around for a while, but VR is enhancing it. Here patients can connect with the healthcare providers and can also engage in therapy processes through virtual reality.


Report Overview:

  • The report represents the insights of the virtual reality in therapy market along with the expected growth rate and market value during the forecast period.

  • It provides the COVID19 analysis of virtual reality in therapy industry. It also describes the market dynamics, including the drivers, opportunities, challenges, and restraints of the market.

  • It mentions virtual reality in therapy market segments and gives the regional analysis of the market.

  • The report also consists of the competitive landscape of virtual reality in therapy market and recent developments that can push the market growth in the upcoming times.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 3.9 Billion (2023)
  CAGR   32% (2017-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Device, By Technology, By Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Siemens Healthcare (Germany), Virtalis Ltd (U.K.), CAE Healthcare (U.S.), GE Healthcare (U.S.), Virtual Realities, Llc (U.K.), Qualcomm Technologies, Inc. (U.S.), Samsung Group (South Korea), Vuzix (U.S.), Mimic Technologies Inc, (U.S.), Brainlab (Germany)
  Key Market Opportunities   The global virtual reality in therapy market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape.
  Key Market Drivers

  • Increasing R&D happening in this region and increasing usage of virtual reality in the healthcare sector. \r\n
  • However, Asia Pacific is expected to grow over the forecast period, 2017-2023.

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    Frequently Asked Questions (FAQ) :

    The collaboration between medical device providers and hardware vendors is expected to drive the proliferation of the virtual reality in therapy market.

    The segments of the virtual reality in therapy market, by device, are projectors, head mount, gesture controls, and others.

    The virtual reality in therapy market has been prognosticated to expand at 32% CAGR.

    Siemens Healthcare (Germany), CAE Healthcare (U.S.), Virtalis Ltd (U.K.), GE Healthcare (U.S.), Qualcomm Technologies, Inc. (U.S.), Virtual Realities, Llc (U.K.), Samsung Group (South Korea), Mimic Technologies Inc, (U.S.), Vuzix (U.S.), and Brainlab (Germany).

    The virtual reality in therapy market is supposed to value at USD 3.9 Bn.

    TABLE OF CONTENTS
    1 MARKET INTRODUCTION

    1.1 INTRODUCTION

    1.2 SCOPE OF STUDY

    1.2.1 RESEARCH OBJECTIVE

    1.2.2 ASSUMPTIONS

    1.2.3 LIMITATIONS

    1.3 MARKET STRUCTURE
    2 RESEARCH METHODOLOGY

    2.1 RESEARCH NETWORK DEVICE SOFTWARE

    2.2 PRIMARY RESEARCH

    2.3 SECONDARY RESEARCH

    2.4 FORECAST MODEL

    2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

    2.4.2 MARKET SIZE ESTIMATION
    3 MARKET DYNAMICS

    3.1 INTRODUCTION

    3.2 MARKET DRIVERS

    3.3 MARKET CHALLENGES

    3.4 MARKET OPPORTUNITIES

    3.5 MARKET RESTRAINTS
    4 EXECUTIVE SUMMARY

    5. MARKET FACTOR ANALYSIS

    5.1 PORTER’S FIVE FORCES ANALYSIS

    5.2 SUPPLY CHAIN ANALYSIS

    6 VIRTUAL REALITY IN THERAPY MARKET, BY SEGMENTS

    6.1 INTRODUCTION

    6.2 MARKET STATISTICS

    6.2.1 BY TECHNOLOGY

    6.2.1.1 FULL IMMERSIVE VR

    6.2.1.2 SEMI-IMMERSIVE VR

    6.2.1.3 NON- IMMERSIVE VR

    6.2.2 BY DEVICE

    6.2.2.1 HEAD MOUNT

    6.2.2.2 GESTURE CONTROL

    6.2.2.3 PROJECTORS

    6.2.3 BY APPLICATION

    6.2.3.1 PHOBIA TREATMENT

    6.2.3.2 ROBOTIC SURGERY

    6.2.3.3 VISUALIZATION

    6.2.3.4 REHABILITATION

    6.2.3.5 TREATMENT OF POST-TRAUMATIC STRESS DISORDER

    6.2.3.6 TREATMENT OF AUTISM

    6.2.3.7 SURGERY SIMULATION

    6.2.4 BY GEOGRAPHY

    6.2.4.1 NORTH AMERICA

    6.2.4.2 EUROPE

    6.2.4.3 ASIA-PACIFIC

    6.2.4.4 REST OF THE WORLD

    7 COMPETITIVE ANALYSIS

    7.1 MARKET SHARE ANALYSIS

    7.2 COMPANY PROFILES

    7.2.1 SIEMENS HEALTHCARE (GERMANY)

    7.3. 2 VIRTALIS LTD (U.K.)

    7.3.3 CAE HEALTHCARE (U.S.)

    7.3.4 GE HEALTHCARE (U.S.)

    7.3.5 VIRTUAL REALITIES, LLC (U.K.)

    7.3.6 QUALCOMM TECHNOLOGIES, INC. (U.S.)

    7.3.7 SAMSUNG GROUP (SOUTH KOREA)

    7.3.8 VUZIX (U.S.)

    7.3.9 MIMIC TECHNOLOGIES INC, (U.S.)

    7.3.10 BRAINLAB (GERMANY)

    7.3.11 OTHERS

    LIST OF TABLES
    TABLE 1 VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 2 VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 3 VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 4 VIRTUAL REALITY IN THERAPY MARKET, BY GEOGRAPHY

    TABLE 5 NORTH AMERICA VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 6 NORTH AMERICA VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 7 NORTH AMERICA VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 8 U.S VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 9 U.S. VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 10 U.S. VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 11 CANADA VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 12 CANADA VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 13 CANADA VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 14 EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 15 EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 16 EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 17 GERMANY VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 18 GERMANY VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 19 GERMANY VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 20 FRANCE VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 21 FRANCE VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 2 2 FRANCE VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 23 U.K. VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 24 U.K. VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 2 5 U.K VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 26 REST OF EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 27 REST OF EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 2 8 REST OF EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 29 ASIA-PACIFIC VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 30 ASIA-PACIFIC VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 31 ASIA-PACIFIC VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    TABLE 32 REST OF THE WORLD VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY

    TABLE 33 REST OF THE WORLD VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE

    TABLE 34 REST OF THE WORLD VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION

    LIST OF FIGURES
    FIGURE 1 RESEARCH METHODOLOGY

    FIGURE 2 VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY (%)

    FIGURE 3 VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE (%)

    FIGURE 4 VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION (%)

    FIGURE 5 VIRTUAL REALITY IN THERAPY MARKET, BY REGIONS (%)

    FIGURE 6 NORTH AMERICA VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY (%)

    FIGURE 7 NORTH AMERICA VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE (%)

    FIGURE 8 NORTH AMERICA VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION (%)

    FIGURE 9 EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY (%)

    FIGURE 10 EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE (%)

    FIGURE 11 EUROPE VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION (%)

    FIGURE 12 ASIA-PACIFIC VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY (%)

    FIGURE 13 ASIA-PACIFIC VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE (%)

    FIGURE 14 ASIA-PACIFIC VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION (%)

    FIGURE 15 REST OF THE WORLD VIRTUAL REALITY IN THERAPY MARKET, BY TECHNOLOGY (%)

    FIGURE 16 REST OF THE WORLD VIRTUAL REALITY IN THERAPY MARKET, BY DEVICE (%)

    FIGURE 17 REST OF THE WORLD VIRTUAL REALITY IN THERAPY MARKET, BY APPLICATION (%)