Global Virtual Reality Exposure Therapy Market

Report ID : 1306 | Published : 2022-07-08 | Pages: | Format: PDF/EXCEL

The market size of the Global Virtual Reality Exposure Therapy Market is predicted to show a 33.90% CAGR during the forecast period.

Virtual reality exposure (VRE) therapy is a newer and more immersive type of exposure treatment in which stimuli are provided to the patient via a computer-based display. VRE is a therapist-assisted controlled form of human-computer interaction that allows the participant to actively participate in a three-dimensional computer environment via a head-mounted show that includes video screens, earphones, and a head-tracking device. A virtual environment is built for the patient to visualize moving graphics and objects using hardware and software components. Such methods are carried out for various types of therapies. Such technology has been discovered to be beneficial in the treatment of psychiatric diseases, addiction therapy, post-cardiac stroke therapy, surgery, and so on. As a result, the rising prevalence of mental problems, cardiac surgery, and stroke will drive the market to a large extent.

However, during the anticipated period, expansion in this market is anticipated to be constrained by elements like high costs and a lack of funding in underdeveloped nations. Lack of understanding of digital diabetes management in underdeveloped nations is impeding market expansion.

Market Segmentation:

The Virtual Reality Exposure Therapy market is segmented on the basis of components, Applications and end-users. Based on Components, the market is segmented into Virtual Reality Headset, Virtual Reality Earphones, Virtual Reality Software & Modules, Virtual Reality Workstation, Virtual Reality Position Tracker/ Sensors, Biofeedback Monitor and Other Components. Based on Application, the market is categorized into Mental Disorder & Addiction Management, Stroke Management, Pediatric Management, Education & Medical Training and Other Application. Based on End-use, the market is segmented into Hospitals, Therapy Clinics, & Surgical Centers, Research & Training Organizations and Other End Users.

Based on Components, the Virtual Reality Headset segment is accounted as a significant contributor in the Virtual Reality Exposure Therapy market.

The market is divided into components such as Virtual Reality Headset, Virtual Reality Earphones, Virtual Reality Software & Modules, Virtual Reality Workstation, Virtual Reality Position Tracker/ Sensors, Biofeedback Monitor and Other Components. The virtual reality headset will have the biggest market share and will be the fastest expanding market segment. VR headsets are an important aspect of therapy because they provide a realistic experience using computerized technology in three dimensions (3D). The introduction of advanced, low-cost, and wireless VR headsets will increase demand for VR headsets in the near future. Furthermore, enhancing the interoperability and convenience of the use of VR headsets with smartphone apps for severe mental disease therapy will aid market expansion.

 

The mental Disorder & Addiction Management segment witnessed growth at a rapid rate.

The virtual reality exposure therapy market is divided into several applications, including Mental Disorder & Addiction Management, Stroke Management, Pediatric Management, Education & Medical Training and Other Application. The mental disorder and addiction management category will have the most significant market share and will also be the fastest expanding. Several research investigations on the use of VR therapy for mental health have revealed that certain disorders such as phobias and PTSD will be more effective than standard drug administration treatment. Furthermore, the rising frequency of mental health illnesses among the young population will drive market expansion in this area. There are 44 million people worldwide who suffer from some form of mental illness. 

The North America Virtual Reality Exposure Therapy market holds a significant revenue share in the region.

The North America Virtual Reality Exposure Therapy market is expected to grow significantly, with Canada and the United States contributing the most. The key reason for this market's domination is patient and healthcare staff's knowledge of the benefits of virtual reality treatment for mental illnesses and other disorders.

The increased government investment in healthcare infrastructure is another primary driver of market development in this area.

Substantial investments are being made in the region to incorporate new technologies, such as immersive technology, into medical treatments. This is anticipated to spur market expansion across the area. Similarly, increased healthcare R&D spending will boost the regional market growth.

Competitive Landscape

The key players in the Virtual Reality Exposure Therapy market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance product portfolio and strengthen their market footprint across the globe. Some of the major key players in the Virtual Reality Exposure Therapy market are Google, Proprio, Psious, Microsoft, Mindmaze, Samsung Electronics, ImmersiveTouch, Virtually Better, Accelerated Care Plus Corporation, Imotions, Firsthand Technology, Atheer, Medical Realities, Oculus VR, Echopixel, Osso VR, Surgical Theatre, Augmedic, and Truevision among others. (Other companies include: Vicarious Surgical, Health Scholars, Oxford VR, Limbix, KineQuantum, Vivid Vision, Karuna Labs, Fundamentalvar, Sentiar, Augmented Intelligence, Reducept, Neuro Rehab VR, JOGO Health, Oncomfort, Virtualis, Simx VR, FeelsGood, and Meta Medical VR).

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Virtual Reality Exposure Components Market Snapshot

Chapter 4. Global Virtual Reality Exposure Components Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

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

5.1. By Components & Market Share, 2020 & 2030

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Components:

5.2.1. Virtual Reality Headset

5.2.2. Virtual Reality Earphones

5.2.3. Virtual Reality Software & Modules

5.2.4. Virtual Reality Workstation

5.2.5. Virtual Reality Position Tracker/ Sensors

5.2.6. Biofeedback Monitor

5.2.7. Others 

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

6.1. By Application & Market Share, 2020 & 2030

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Application:

6.2.1. Mental Disorder & Addiction Management

6.2.2. Stroke Management

6.2.3. Pediatric Management

6.2.4. Education & Medical Training

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

7.1. By End-use & Market Share, 2020 & 2030

7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By End-use:

7.2.1. Hospitals, Therapy Clinics, & Surgical Centers

7.2.2. Research & Training Organizations

Chapter 8. Virtual Reality Exposure Components Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Virtual Reality Exposure Components Market revenue (US$ Million) estimates and forecasts By Components, 2020-2030

8.1.2. North America Virtual Reality Exposure Components Market revenue (US$ Million) estimates and forecasts By Application, 2020-2030

8.1.3. North America Virtual Reality Exposure Components Market revenue (US$ Million) estimates and forecasts by End-use, 2020-2030

8.1.4. North America Virtual Reality Exposure Components Market revenue (US$ Million) estimates and forecasts by country, 2020-2030

8.2. Europe

8.2.1. Europe Virtual Reality Exposure Components Market revenue (US$ Million) By Components, 2020-2030

8.2.2. Europe Virtual Reality Exposure Components Market revenue (US$ Million) By Application, 2020-2030

8.2.3. Europe Virtual Reality Exposure Components Market revenue (US$ Million) estimates and forecasts by End-use, 2020-2030

8.2.4. Europe Virtual Reality Exposure Components Market revenue (US$ Million) by country, 2020-2030

8.3. Asia Pacific

8.3.1. Asia Pacific Virtual Reality Exposure Components Market revenue (US$ Million) By Components, 2020-2030

8.3.2. Asia Pacific Virtual Reality Exposure Components Market revenue (US$ Million) By Application, 2020-2030

8.3.3. Asia Pacific Virtual Reality Exposure Components Market revenue (US$ Million) estimates and forecasts by End-use, 2020-2030

8.3.4. Asia Pacific Virtual Reality Exposure Components Market revenue (US$ Million) by country, 2020-2030

8.4. Latin America

8.4.1. Latin America Virtual Reality Exposure Components Market revenue (US$ Million) By Components, (US$ Million)

8.4.2. Latin America Virtual Reality Exposure Components Market revenue (US$ Million) By Application, (US$ Million)

8.4.3. Latin America Virtual Reality Exposure Components Market revenue (US$ Million) estimates and forecasts by End-use, 2020-2030

8.4.4. Latin America Virtual Reality Exposure Components Market revenue (US$ Million) by country, 2020-2030

8.5. Middle East & Africa

8.5.1. Middle East & Africa Virtual Reality Exposure Components Market revenue (US$ Million) By Components, (US$ Million)

8.5.2. Middle East & Africa Virtual Reality Exposure Components Market revenue (US$ Million) By Application, (US$ Million)

8.5.3. Middle East & Africa Virtual Reality Exposure Components Market revenue (US$ Million) estimates and forecasts by End-use, 2020-2030

8.5.4. Middle East & Africa Virtual Reality Exposure Components Market revenue (US$ Million) by country, 2020-2030

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Google

9.2.2. Proprio

9.2.3. Psious

9.2.4. Microsoft

9.2.5. Mindmaze

9.2.6. Samsung Electronics

9.2.7. ImmersiveTouch

9.2.8. Virtually Better

9.2.9. Accelerated Care Plus Corporation

9.2.10. Imotions

9.2.11. Firsthand Technology

9.2.12. Atheer

9.2.13. Medical Realities

9.2.14. Oculus VR

9.2.15. Echopixel

9.2.16. Osso VR

9.2.17. Surgical Theatre

9.2.18. Augmedic

9.2.19. Truevision among others

9.2.20. Vicarious Surgical

9.2.21. Health Scholars

9.2.22. Oxford VR

9.2.23. Limbix

9.2.24. KineQuantum

9.2.25. Vivid Vision

9.2.26. Karuna Labs

9.2.27. Fundamentalvar

9.2.28. Sentiar

9.2.29. Augmented Intelligence

9.2.30. Reducept

9.2.31. Neuro Rehab VR

9.2.32. JOGO Health

9.2.33. Oncomfort

9.2.34. Virtualis

9.2.35. Simx VR

9.2.36. FeelsGood

9.2.37. Meta Medical VR

9.2.38. Other Prominent Players

Segmentation of Virtual Reality Exposure Therapy Market-

By Components

  • Virtual Reality Headset
  • Virtual Reality Earphones
  • Virtual Reality Software & Modules
  • Virtual Reality Workstation
  • Virtual Reality Position Tracker/ Sensors
  • Biofeedback Monitor
  • Other Components                                 

By Application

  • Mental Disorder & Addiction Management
  • Stroke Management
  • Pediatric Management
  • Education & Medical Training
  • Other Applications                                                                                                                  

By End User

  • Hospitals
  • Therapy Clinics & Surgical Centers
  • Research & Training Organizations
  • Other End Users

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

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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Global Virtual Reality Exposure Therapy Market is predicted to show a 33.90% CAGR during the forecast period.

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