The Global Market for Virtual Reality (VR) in Healthcare is Projected to Reach US$3.8 Billion by 2020

Rising Interest in Robotic Surgery & Healthcare Skills Training to Drive Demand for Virtual Reality in Healthcare, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Virtual Reality (VR) in Healthcare market. The global market for Virtual Reality (VR) in Healthcare is projected to reach US$3.8 billion by 2020, driven by technology advancements in healthcare IT, expanding applications to diverse medical disciplines, and increasing demand for rehabilitation and simulation training.

The virtual reality (VR) technology in the healthcare sector is gaining immense interest, with application possibilities expanding to diverse medical disciplines such as medical training, practice, psychiatry, and rehabilitation. Virtual reality in healthcare provides a revolutionary way to improve patients’ understanding of disease process, educate them about the benefits of behavior modification, and strengthen medication compliance. The VR technology is also expanding its role in medical education, particularly in the area of simulation, training and modeling. VR technology is playing a crucial role in professional skills training for minimally-invasive surgeries and operating room procedures. The technology continues to gain increased demand as a diagnostic tool in the healthcare sector in the form of fully immersive 3D simulation for clinicians in the treatment of phobias, autism, post-traumatic stress disorder (PTSD), depression, anxiety, and severe pain in burn victims. Furthermore, the technology is effectively used in the treatment of pain by increasing cognitive activity which is known to inhibit the transmission of pain signals to the brain, thus reducing the need for painkillers and narcotics.

Other major factors driving adoption of virtual reality technology in the healthcare sector include increasing incidence of neurological disorders, growing disease awareness among patients, and rising demand for innovative diagnostic techniques. Growing popularity of endoscopic surgical techniques, simulation trading tools and computer assisted or robotic systems are proving to be extremely beneficial for the future growth of market. In addition, increased hospital spending on advanced medical devices and technologies, rapid evolution of graphics hardware, database gloves, computer aided design (CAD) and miniaturization are other factors driving adoption of VR technology. Establishment of industry standards will boost commercialization efforts in the marketplace.

As stated by the new market research report on Virtual Reality (VR) in Healthcare, the United States represents the largest market worldwide. Strong R&D, increased investments in VR technology by the government and private companies, and early adoption of the technology are the major factors supporting the country’s dominance. Asia-Pacific is projected to emerge as the fastest growing market with a CAGR of 23.2% over the analysis period, led by developing healthcare infrastructure and strong appetite for innovative medical technologies capable of lowering healthcare costs and enabling patients lead healthier and higher-quality lives.    

Major players covered in the report include 5DT (Fifth Dimension Technologies), Brainlab AG, CAE Healthcare, DeepStream VR, EON Reality, GE Healthcare, Intuitive Surgical, Inc., Medtronic, Inc., Mimic Technologies Inc., Philips Healthcare, Siemens Healthcare, Stryker Corporation, Surgical Science Sweden AB, Virtalis Limited, Virtually Better, Inc., Vital Images, Inc., Vuzix Corporation, and WorldViz, LLC.

The research report titled “Virtual Reality (VR) in Healthcare: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Virtual Reality (VR) in Healthcare in US$ terms for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, and Rest of World. 


Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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