Metaverse in Healthcare Market Assessment worth $ 71.2 Billion by 2030 – Exclusive Report by InsightAce Analytic
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Metaverse in Healthcare Market- by Component (Software and Hardware) Technology (Augmented Reality (AR), Virtual Reality(VR), Artificial Intelligence(AI), and Mixed Reality(MR)), Devices (VR Headsets, AR Devices, and Mixed Reality Platforms), End-Users (Medical Training & Education Modules, Diagnosis, Designing ORs, Treatment, Surgical Training, Remote Monitoring, and Others), Trends, Industry Competition Analysis, Revenue and Forecast To 2030.”
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According to the latest research by InsightAce Analytic, the global Metaverse in the Healthcare market is valued at US$ 5.06 Billion in 2021, and it is expected to reach US$ 71.2 Billion by 2030, with a CAGR of 34.8% during a forecast period of 2024-2031.
The Metaverse, though still in its early stages, has the potential to revolutionize healthcare. This immersive virtual world, incorporating virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and other cutting-edge technologies, offers a powerful suite of tools for both patients and healthcare professionals.
The Metaverse can transform healthcare delivery in several ways:
• Enhanced learning and empowerment: The Metaverse can be a powerful learning tool for medical professionals, allowing for immersive training simulations and improved collaboration. Patients can also benefit from educational experiences in the Metaverse, gaining a deeper understanding of their conditions and treatment options.
• Revolutionized patient-practitioner communication: AR, with its ability to overlay digital information onto the real world, has the potential to significantly improve communication between patients and practitioners. Imagine a doctor using AR glasses to visualize a patient’s medical history and vital signs during a consultation.
Market growth in Metaverse healthcare solutions is expected to be driven by:
• Improved surgical procedures: AR platforms can provide surgeons with real-time data and guidance during complex procedures, leading to greater accuracy and flexibility.
• Industry collaboration: Strategic partnerships between major players to develop innovative VR and AR solutions will accelerate market growth.
• Investment in healthcare platforms: Increased investment in digital healthcare platforms, including telemedicine, virtual reality, and AR-powered medical services, will pave the way for the Metaverse’s integration into healthcare.
However, challenges remain:
• Patient data privacy: Robust security measures are essential to ensure patient data privacy within the Metaverse.
• Technological costs: The high cost of VR and AR equipment and the complex infrastructure required for advanced digital healthcare solutions can be barriers to adoption.
Despite these challenges, the Metaverse holds immense promise for transforming the future of healthcare.
North America is anticipated to be the major contributor to the Metaverse in the Healthcare market over the forecast years. It is because of the region’s dense concentration of companies with a metaverse focus, the quick advancement of healthcare infrastructure, the integration of AR and VR platforms into the healthcare sector,
the rise in investments in AR goods and services, and advancements in software and hardware. In addition, the Asia Pacific Metaverse in the Healthcare market is expected to grow significantly during the forecast period. The Asia-Pacific metaverse market is expected to grow fastest due to the increased use of the internet and other technologies to merge the digital and physical worlds. Mixed reality is gaining popularity and momentum as a means of boosting the application of abilities expanding in many trends across numerous enterprises in China, Japan, and India.
Major market players operating in the Metaverse in Healthcare market include BioflightVR, CAE Inc., Devden Creative Solutions Pvt. Ltd., Dhi Tattva Solutions Pvt. Ltd., Eon Reality Inc., Intuitive Surgical Inc., CableLabs, Microsoft, Google LLC, Meta Platforms, Inc., 8chilli, Inc., Global Healthcare Academy, 3D Systems Corp., AccuVein Inc., ImmersiveTouch Inc., Intuitive Surgical Inc., Koninklijke Philips NV, Medical Realities Ltd., MindMaze SA, Oodles Technologies, Siemens AG, Sky gate, UnitedHealth Group Inc., Wipro Ltd., WorldViz Inc.
Recent collaborations and agreements in the market:
• In April 2022, Building the Metaverse 2021 will cost $10 billion, according to Meta Platforms. To speed up tasks relating to the Metaverse, the business is now creating the fastest supercomputer in the world. With its virtual reality social platform Horizon Worlds, Meta Platforms looks to have made substantial progress toward monetizing the Metaverse. The business has revealed that it is currently testing a way for creators and developers to sell virtual goods and experiences inside the three-dimensional realms of the Metaverse.
• In March 2022, Ventyn joined the health metaverse with the 8chili HintVR VR platform for improvements in care coordination. Artificial intelligence, when paired with the power of 3D content and digital health apps, virtual reality platforms provide virtual training, patient engagement, education, and health coaching.
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Market Segments
Global Metaverse in Healthcare Market, by Component, 2022-2030 (Value US$ Mn)
• Software
• Hardware
Global Metaverse in Healthcare Market, by Technology, 2022-2030 (Value US$ Mn)
• Augmented Reality (AR)
• Virtual Reality(VR)
• Artificial Intelligence(AI)
• Mixed Reality(MR)
Global Metaverse in Healthcare Market, by Device, 2022-2030 (Value US$ Mn)
• VR Headsets
• AR Devices
• Mixed Reality Platforms
Global Metaverse in Healthcare Market, by End-User, 2022-2030 (Value US$ Mn)
• Medical Training & Education Modules
• Diagnosis
• Treatment
• Designing ORs
• Surgical Training
• Remote Monitoring
• Others
Global Metaverse in Healthcare Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Metaverse in Healthcare Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Metaverse in Healthcare Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Metaverse in Healthcare Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Metaverse in Healthcare Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Metaverse in Healthcare Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Metaverse in Healthcare market
To receive an industry overview and future trends of the Metaverse in Healthcare market
To analyze the Metaverse in Healthcare market drivers and challenges
To get information on the Metaverse in Healthcare market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Metaverse in Healthcare market industry
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