What Factors Propelled The Growth Of The Metaverse In Healthcare Market In The Past?
The metaverse in healthcare market has seen considerable growth due to a variety of factors.
• The market size of the metaverse in healthcare has seen an exponential boost in the past few years. Flourishing from a value of $13.54 billion in 2024, it's forecasted to reach $17.99 billion in 2025, with an impressive compound annual growth rate (CAGR) of 32.9%. This significant growth in the historical period is the result of focus on medical training and stimulation, an increase in telemedicine and virtual consultations, heightened patient involvement and education, inclusion of gamification in healthcare, and response to global health crises.
How Will the Metaverse In Healthcare Template Market?
The Metaverse In Healthcare market is expected to maintain its strong growth trajectory in upcoming years.
• The healthcare metaverse market is projected to witness exponential rise in the upcoming years, with an anticipated value of $60.47 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 35.4%.
The growth during the anticipated period could be associated with the escalating advancement of virtual clinical trials, burgeoning development of virtual therapeutics, increasing emphasis on accessibility and inclusivity, personalized healthcare experiences, as well as market expansion in emerging regions. Key trends during this period are expected to include the deployment of digital twin technology in healthcare, the combination with wearable devices, the application of virtual reality (VR) technology, the utilization of blockchain for safeguarding data, and alliances between technological and healthcare sectors.
Which Factors Are Boosting Growth In The Metaverse In Healthcare Market?
The surge in telemedicine's popularity is predicted to push the growth of the international healthcare in the metaverse market in the forthcoming years. Telemedicine comprises a wide range of distantly conducted clinical services, such as televisits, in addition to remote medical care including remote monitoring and digital prescriptions. When it comes to controlling the transmission of infections in waiting rooms amid pandemics, telemedicine proves significantly useful. As a result, there is an increasing demand for metaverse technologies in the realm of telemedicine, primarily amplified by televisits. For example, the Centers for Disease Control and Prevention, a government agency based in the US, stated in June 2024 that the proportion of adults who utilized telemedicine within the prior 12 months stood at 30.1% in 2022. Thus, the rise in global telemedicine adoption is catalyzing the growth of the healthcare metaverse market.
What Key Areas Define The Segmentation Of The Global Metaverse In Healthcare Market?
The metaverse in healthcare market covered in this report is segmented –
1) By Component: Software, Hardware
2) By Technology: Augmented Reality(AR), Virtual Reality(VR), Artificial Intelligence(AI), Mixed Reality(MR)
3) By Device: VR Headsets, AR Devices, Mixed Reality Platforms
4) By End-User: Medical Training And Education Modules, Diagnosis, Treatment, Designing ORs, Surgical Training, Remote Monitoring, Others
Subsegments:
1) By Software: Virtual Reality (VR) Applications, Augmented Reality (AR) Applications, Simulation Software, Collaboration Tools
2) By Hardware: VR Headsets, AR Glasses, Haptic Devices, Motion Sensors, Workstations
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How Are Emerging Trends Reshaping The Dynamics Of The Metaverse In Healthcare Market?
The rise of product innovations in the healthcare metaverse market is a notable trend. Prominent companies in the field are moving towards the incorporation of next-gen technologies and innovative concepts into the healthcare metaverse. Take the case of GOQii, an Indian fitness tech organization, that unveiled its metaverse and its preventive healthcare blending in December 2022. The fundamental aim of this Web3-based health technology is to encourage people to attain fitness and health by integrating the physical wellness and fitness aspects with the digital world. The platform was initially launched in the UAE and will soon be introduced in India, the UK, and Japan. The Harley International Medical Clinic has teamed up with GOQii to introduce this health metaverse to the UAE. Users can create their virtual avatars in this health metaverse, offering them an engaging way to experience digital ageing while constantly being motivated to keep a healthier lifestyle.
Who Are the Key Players In The Metaverse In Healthcare Market?
Major companies operating in the metaverse in healthcare market include:
• Brainlab AG
• PlushCare
• BioFlight VR
• Siemens Healthineers
• Meta Platforms Inc.
• Novarad Corporation
• Nvidia Corporation
• Microsoft Corporation
• Roblox Corporation
• GE Healthcare
• Medtronic PLC
• Google LLC
• Wipro Ltd.
• Global Healthcare Academy
• 3D Systems Corp.
• Vuzix
• Magic Leap
• zSpace Inc
• VirtaMed
• Virtually Better
• EchoPixel Inc
• InfiVR
• Intuitive Surgical Inc.
• Augmedics
• Immersive Touch
• Medical Realities Ltd.
• Sesame Care
• Aimedis B.V.
• ARBREA LABS
• Veyond Metaverse
• GameChange VR
What Is The Most Dominant Region In The Metaverse In Healthcare Market?
North America was the largest region in the metaverse in healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the metaverse in healthcare market during the forecast period. The regions covered in the metaverse in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
