Global Metaverse in Healthcare Market

Report ID : 1226 | Published : 2022-05-25 | Pages: | Format:

The Global Metaverse in Healthcare market size was accounted at USD 5.06 Bn in 2021; It is projected to grow at a compound annual growth rate (CAGR) of 34.8 % from 2022 to 2030. While the Metaverse evolves, it holds new potential in healthcare by combining technologies such as Artificial Intelligence(AI), Virtual Reality(VR), Augmented Reality(AR), the Internet of Medical Devices, Web 3.0, intelligent cloud, edge, and quantum computing, and robotics, to provide new directions to healthcare. Together, they can open entirely new channels for delivering treatment, lowering costs, and significantly improving patient outcomes in healthcare. Metaverse also represents blockchain technology, which has the potential to address healthcare issues such as data security and health record management. It will also perform an essential role in ensuring data privacy in this industry. Usage of robotics or what is also known as robot-assisted surgeries were already in use to perform complicated procedures with precision and flexibility. 

Increasing the use of AR platforms to perform complex surgical procedures with higher precision and flexibility will boost the Global Metaverse in Healthcare Market growth. Other critical factors expected to contribute to market revenue in the coming years include increased collaborations among foremost companies to develop AR and VR solutions to improve the overall surgical environment and expanding investment to create metaverse platforms to transform the healthcare sector. An increasing number of companies are investing substantially in digital healthcare platforms to improve telemedicine experience, accelerate the transition to virtual reality, and enhance other medical services through augmented reality.

The challenges associated with patient data privacy, the high cost of high-tech devices and hardware, and the rising costs of more advanced digital healthcare infrastructure may limit market growth to some extent over the forecast period.

According to regional analysis, North America is expected to account for the largest revenue share during the forecast period. Due to the region's strong presence of metaverse-focused companies, rapid advancements in healthcare infrastructure, integration of AR and VR devices and platforms in the healthcare sector, increased investment to develop new and more innovative Augmented Reality products and applications, and advancements in software and hardware.

Global Metaverse in Healthcare Market is segmented By Component which comprises Software, Hardware, among them software division will contribute more market revenue than the hardware in the forecasting period. Secondly, the Technology segment is divided into AR, VR, AI, and MR, which are futuristic technologies human beings use for ease of lifestyle. The third segment is Devices having VR Headsets, AR Devices, and Mixed Reality Platforms as the subsegments. At last, the market is segmented By End-User, which has Medical Training & Education Modules, Diagnosis, Designing ORs, Treatment, Surgical Training, Remote Monitoring, and Others as the important subsegments to contribute in the market.

Prominent market players are Intuitive Surgical Inc., CableLabs, Microsoft, Google LLC, Meta Platforms, Inc., 8chilli, Inc., Global Healthcare Academy, 3D Systems Corp., AccuVein Inc., BioflightVR, CAE Inc., Devden Creative Solutions Pvt. Ltd., Dhi Tattva Solutions Pvt. Ltd., Eon Reality 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..

  • Intuitive Surgical Inc.
  • CableLabs
  • Microsoft
  • Google LLC
  • Meta Platforms, Inc.
  • 8chilli, Inc.
  • Global Healthcare Academy
  • 3D Systems Corp.
  • AccuVein Inc.
  • BioflightVR
  • CAE Inc.
  • Devden Creative Solutions Pvt. Ltd.
  • Dhi Tattva Solutions Pvt. Ltd.
  • Eon Reality 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.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Metaverse In Healthcare Market Snapshot

Chapter 4. Global Metaverse In Healthcare Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis of Metaverse Industry

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. COVID-19 Impact on Metaverse Industry

Chapter 5. Market Segmentation 1: By Component Estimates & Trend Analysis

5.1. By Component & Market Share, 2020 & 2028

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2028 for the following By Component:

5.2.1. Software

5.2.2. Hardware

Chapter 6. Market Segmentation 2: By Technology Estimates & Trend Analysis

6.1. By Technology & Market Share, 2020 & 2028

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2028 for the following Technology Type:

6.2.1. Augmented Reality (AR)

6.2.2. Virtual Reality (VR)

6.2.3. Artificial Intelligence (AI)

6.2.4. Mixed Reality (MR)

Chapter 7. Market Segmentation 3: By End-user Estimates & Trend Analysis

7.1. By End-user & Market Share, 2020 & 2028

7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2028 for the following End-user:

7.2.1. VR Headsets

7.2.2. AR Devices

7.2.3. Mixed Reality Platforms

Chapter 8. Market Segmentation 4: By Device Estimates & Trend Analysis

8.1. By Device & Market Share, 2020 & 2028

8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2028 for the following Device Type:

8.2.1. Medical Training & Education Modules

8.2.2. Diagnosis

8.2.3. Treatment

8.2.4. Designing ORs

8.2.5. Surgical Training

8.2.6. Remote Monitoring

8.2.7. Others

Chapter 9. Metaverse In Healthcare Market Segmentation 5: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Component, 2022-2030

9.1.2. North America Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Technology, 2022-2030

9.1.3. North America Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Device, 2022-2030

9.1.4. North America Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by End-user, 2022-2030

9.1.5. North America Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by country, 2022-2030

9.1.5.1. U.S.

9.1.5.2. Canada

9.2. Europe

9.2.1. Europe Metaverse In Healthcare Market revenue (US$ Million) by By Component, 2022-2030

9.2.2. Europe Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Technology, 2022-2030

9.2.3. Europe Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Device, 2022-2030

9.2.4. Europe Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by End-user, 2022-2030

9.2.5. Europe Metaverse In Healthcare Market revenue (US$ Million) by country, 2022-2030

9.2.5.1. Germany

9.2.5.2. Poland

9.2.5.3. France

9.2.5.4. Italy

9.2.5.5. Spain

9.2.5.6. UK

9.2.5.7. Rest of Europe

9.3. Asia Pacific

9.3.1. Asia Pacific Metaverse In Healthcare Market revenue (US$ Million) by By Component, 2022-2030

9.3.2. Asia Pacific Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Technology, 2022-2030

9.3.3. Asia Pacific Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Device, 2022-2030

9.3.4. Asia Pacific Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by End-user, 2022-2030

9.3.5. Asia Pacific Metaverse In Healthcare Market revenue (US$ Million) by country, 2022-2030

9.3.5.1. China

9.3.5.2. India

9.3.5.3. Japan

9.3.5.4. Australia

9.3.5.5. Rest of Asia Pacific

9.4. Latin America

9.4.1. Latin America Metaverse In Healthcare Market revenue (US$ Million) by By Component, 2022-2030

9.4.2. Latin America Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Technology, 2022-2030

9.4.3. Latin America Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Device, 2022-2030

9.4.4. Latin America Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by End-user, 2022-2030

9.4.5. Latin America Metaverse In Healthcare Market revenue (US$ Million) by country, (US$ Million) 2022-2030

9.4.5.1. Brazil

9.4.5.2. Rest of Latin America

9.5. Middle East & Africa

9.5.1. Middle East & Africa Metaverse In Healthcare Market revenue (US$ Million) by By Component, (US$ Million)

9.5.2. Middle East & Africa Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Technology, 2022-2030

9.5.3. Middle East & Africa Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by Device, 2022-2030

9.5.4. Middle East & Africa Metaverse In Healthcare Market revenue (US$ Million) estimates and forecasts by End-user, 2022-2030

9.5.5. Middle East & Africa Metaverse In Healthcare Market revenue (US$ Million) by country, (US$ Million) 2022-2030

9.5.5.1. South Africa

9.5.5.2. GCC Countries

9.5.5.3. Rest of MEA

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles

10.2.1. Intuitive Surgical Inc.

10.2.2. CableLabs

10.2.3. Microsoft

10.2.4. Google LLC

10.2.5. Meta Platforms, Inc.

10.2.6. 8chilli, Inc.

10.2.7. Global Healthcare Academy

10.2.8. 3D Systems Corp.

10.2.9. AccuVein Inc.

10.2.10. BioflightVR

10.2.11. CAE Inc.

10.2.12. Devden Creative Solutions Pvt. Ltd.

10.2.13. Dhi Tattva Solutions Pvt. Ltd.

10.2.14. Eon Reality Inc.

10.2.15. ImmersiveTouch Inc.

10.2.17. Koninklijke Philips NV

10.2.18. Medical Realities Ltd.

10.2.19. MindMaze SA

10.2.20. Oodles Technologies

10.2.21. Siemens AG

10.2.22. Sky gate

10.2.23. UnitedHealth Group Inc.

10.2.24. Wipro Ltd.

10.2.25. WorldViz Inc.

10.2.26. Other Prominent Players

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

Competitive Landscape

  • Company Overview
  • Financial Performance
  • Key Development

Latest Strategic Development

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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