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Technological Advancements to Encourage Growth of Global Virtual Reality in Healthcare Market

The healthcare segment has been developing at a significant rate in the last few years. The integration of IT principles and solutions in this sector has resulted in a huge transformation in terms with the way patients are treated and services that are provided by the healthcare providers. There are several benefits of digitally managing the different operations and processes in the healthcare segment. In the last few years, the leading healthcare facilities have shifted from their conventional and manually operated devices to advance and efficient software-enabled devices. One of such technology, virtual reality is projected to generate promising growth opportunities for market players in the healthcare segment across the globe. Virtual reality is being used in this segment to simulate three dimensional and an interactive virtual surroundings.

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The key factors that are projected to encourage the growth of the global virtual reality in healthcare market have been mentioned below:

  • An increased level of penetration of the connected devices in the healthcare sector is estimated to encourage the growth of the global market in the next few years.

  • The increasing level of investment in the healthcare sector for its development is another key factor likely to enhance the growth of the overall market.

  • The growing need to reduce the high costs in the healthcare sector is likely to boost the demand for innovative techniques, thus driving the global market.

  • Furthermore, the high demand for VR and AR in several developing markets is predicted to generate promising growth opportunities for the market players in the coming years.

  • The use of virtual reality for fitness management is expected to attract a lot of consumers, thus encouraging the overall growth of the market in the near future.

On the flip side, the lack of expertise among the medical practitioners so as to adopt new technologies is considered as one of the major factors projected to curtail the growth of the global virtual reality in healthcare market in the next few years. In addition to this, lack of competence in the deployment of the VR and AR solutions is further predicted to restrict the growth of the market in the near future.

Presence of Advanced Healthcare Facilities to Drive North America Market

Among the leading regional segments, North America is projected to account for a large share of the global virtual reality in healthcare market in the coming few years. The presence of a large number of leading players and the high-tech healthcare infrastructure in this region are considered as the major factors that are projected to encourage the growth of the North America market in the near future. North America is further projected to be followed by Europe and Asia Pacific. The rising investments by Government organizations in order to enhance the healthcare sector is projected to encourage the growth of the virtual reality in healthcare market in several emerging economies across the globe.

Furthermore, with the rising promising growth opportunities, several new players are anticipated to enter the global virtual reality in healthcare market in the next few years. Some of the leading players operating in the market across the globe are Philips Healthcare, Virtual Realties Ltd, CAE Healthcare, Virtalis Ltd, Vital Images, Inc., Stryker Corporation, Intuitive Surgical, Inc., GE Healthcare, Siemens Healthcare, Medtronic, Inc., and Brainlab AG.

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