Virtual Reality in Healthcare Market Trends

  • Report ID: 3324
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Virtual Reality in Healthcare Market Trends

Growth Drivers

  • Extensive Research Associated with Virtual Reality in Healthcare on Global Level
  • Growing Investment in the Development of Virtual Reality Healthcare Start-Ups

Challenges

  • Hardships in Adopting and Deploying New Technology
  • Lack of Awareness About the Technology in Lower Economic Regions

Virtual Reality in Healthcare Market: Key Insights

Global-Healthcare-Expenditure-per-Capita

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Base Year

2024

Forecast Year

2025-2037

CAGR

32.5%

Base Year Market Size (2024)

USD 4.58 billion

Forecast Year Market Size (2037)

USD 177.69 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Radhika Pawar


  • Report ID: 3324
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of virtual reality in healthcare is estimated at USD 5.85 billion.

Virtual Reality in Healthcare Market size was over USD 4.58 billion in 2024 and is anticipated to cross USD 177.69 billion by 2037, witnessing more than 32.5% CAGR during the forecast period i.e., between 2025-2037.

Asia Pacific industry is predicted to account for largest revenue share by 2037, owing to increasing healthcare expenditure and the rising government initiatives for adoption of digital technologies in healthcare sector in the region.

The major players in the market include Google LLC, Koninklijike Philips N.V., GENERAL ELECTRIC COMPANY, and CAE Inc., among others.
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