Overview and Scope
Virtual reality (VR) in medical simulation refers to the use of computer-generated environments and immersive experiences to replicate real-life medical scenarios for training, education, and assessment purposes. VR technology allows healthcare professionals and students to interact with virtual patients, perform medical procedures, and experience clinical situations in a controlled, risk-free setting.
Sizing and Forecast
The virtual reality (VR) in medical simulation market size has grown exponentially in recent years. It will grow from $3.50 billion in 2023 to $4.70 billion in 2024 at a compound annual growth rate (CAGR) of 34.3%. The growth in the historic period can be attributed to increasing applications of virtual reality in patient treatment, demand for enhanced training, patient safety concerns, rising healthcare costs, and regulatory compliance standards.
The virtual reality (VR) in medical simulation market size is expected to see exponential growth in the next few years. It will grow to $15.33 billion in 2028 at a compound annual growth rate (CAGR) of 34.4%. The growth in the forecast period can be attributed to advancements in AI integration, increased focus on remote training solutions, expansion of telemedicine, growing demand for personalized learning experiences, and regulatory support for innovative training methods. Major trends in the forecast period include the integration of AI for adaptive learning, the emergence of social VR platforms for collaborative training, the utilization of VR for mental health therapy, the rise of mobile VR solutions for accessibility, and the development of VR simulations for global healthcare disparities.
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Segmentation & Regional Insights
The virtual reality (VR) in medical simulation market covered in this report is segmented –
1) By Age Group: Adult, Children, Infant
2) By Application: Medical Education, Virtual Reality In Diagnostics, Pain Management, Mental Illness Treatment, Physical Fitness And Therapy, Virtual Reality In Surgery, Human Simulation Techniques, Virtual Reality In Dentistry, Virtual Reality In Nursing, Other Applications
3) By End-User: Hospitals, Physician Clinics, Ambulatory Surgical Centers, Medical Institutes, Research Laboratory, Pharmaceutical Industry, Other End-Users
North America was the largest region in the virtual reality (VR) in medical simulation market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual reality (VR) in medical simulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing number of surgeries is expected to propel the growth of virtual reality (VR) in the medical simulation market going forward. Surgeries are medical procedures conducted by surgeons to diagnose, treat, or prevent diseases or injuries, often involving incisions into the body to access internal organs or tissues. Surgeries are on the rise due to advancements in medical technology and techniques, leading to increased accessibility and broader indications for surgical intervention. VR in medical simulations helps in surgeries by providing realistic, immersive training environments because of its ability to replicate complex surgical scenarios and anatomy accurately. For instance, in January 2023, according to a report published by the International Society of Aesthetic Plastic Surgery (ISAPS), a US-based professional non-governmental organization, total medical procedures increased by 19.3%, with surgical procedures rising by 18.5% compared to 2020. Therefore, the increasing number of surgeries is driving the growth of virtual reality (VR) in the medical simulation market.
Key Industry Players
Major companies operating in the virtual reality (VR) in medical simulation market are Qualcomm Technologies Inc., Siemens Healthineers AG, CAE Healthcare Inc., Brainlab AG, Surgical Science Sweden AB, Vention Inc., Osso VR Inc., Mentice AB, Augmedics, Virtalis Holdings Ltd., VirtaMed AG, Oxford Medical Simulation Ltd., AccuVein Inc., Health Scholars Inc., AppliedVR Inc., Medisim Ltd., Fundamental Surgery, ImmersiveTouch Inc., Ghost Productions Inc., SimforHealth, SimX, PrecisionOS Technologies Inc., Body Interact
The virtual reality (vr) in medical simulation market report table of contents includes:
- Executive Summary
- Virtual Reality (VR) In Medical Simulation Market Characteristics
- Virtual Reality (VR) In Medical Simulation Market Trends And Strategies
- Virtual Reality (VR) In Medical Simulation Market – Macro Economic Scenario
- Global Virtual Reality (VR) In Medical Simulation Market Size and Growth
………….
- Global Virtual Reality (VR) In Medical Simulation Market Competitive Dashboard
- Key Mergers And Acquisitions In The Virtual Reality (VR) In Medical Simulation Market
- Virtual Reality (VR) In Medical Simulation Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Virtual Reality (VR) In Medical Simulation Market, Segmentation By Age Group, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Virtual Reality (VR) In Medical Simulation Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Virtual Reality (VR) In Medical Simulation Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Qualcomm Technologies Inc. Financial Performance
Table 75: Siemens Healthineers AG Financial Performance
Table 76: CAE Healthcare Inc. Financial Performance
Table 77: Brainlab AG Financial Performance
Table 78: Surgical Science Sweden AB Financial Performance
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