Global Virtual Reality in Medicine and Healthcare Market was cherished at $ 240.91 billion in 2018 and is estimated to reach a level of $2,383.68 million by 2026

October 12, 2021, New York, USA -

Virtual Reality

Introduction and Applications

Virtual means being in existence without being seen or happening online. The term virtual reality is computer – created imitation 3d image or atmosphere or surrounding created in such a manner that would resemble exactly with reality, it is also an artificial atmosphere created with computer technology to represent to user in such a way that the user blindly trusts and accepts it as a real environment. A virtual reality can be stimulated experience or imaginary function which is similar to or wholly diverse from the real world.

Virtual reality has its presence in entertainment and education world for example video games and military training or medical training and now even in business world through virtual meetings. There are other distinct types of technologies like AR augmented reality and mixed reality MR sometimes referred to as XR extended reality. VR can be renowned as immersive or text-based network where the immersive VR alters the sight or vision as the user moves his or her head and text based also known as Cyberspace can be defined as virtual voice and video calling that is required for distant learning purposes. Both the versions of virtual reality are complimentary one another, yet, both the VR are suitable for digital tutoring Cyberspace is chosen one. Presently, VR uses multifunctional gadgets or realistic pictures, noises and other stimulators that give user an experience of actual presence of the environment.

We know that VR preferably used in video games and education, however it is also used in social apps and as Vehicle simulators used for vehicle training purposes to give better experience.

Types

Mainly there are 3 types of virtual reality

• Non-immersive virtual reality: majorly all input devices required for video games are apt examples of Non-immersive virtual reality.
• Semi-immersive virtual reality: realty with partial virtual environment and partial actual environment 3D pictures, graphs etc. used while tutoring pupils for medicals.
• Full-immersive virtual reality: gives users more realistic and stimulating audios visual experience.

Virtual Reality in Medicine and Healthcare

Current medicine education or training has come way beyond the traditional one. It has overstepped the traditional way of memorizing methods to impart skills and adopted a virtual means of training. Such kind of training is very useful while attending a patient for proper strategical management. The training involves methodical learning, communication of skills etc. Any kind of medical condition can be stirred using a VR to make students aware of real life incident virtually, followed by feedback and question & answer sessions to verify the mistakes. VR can be utilised for interior view of human body otherwise which are inaccessible or humanly visual. Now it has become easier for medical students to study the human anatomy via VR and with the aid of computer graphics it has become very easy to study any part of human body by creating it virtually moreover training can be given using closest surgical situations. For example, in a fracture case understanding the reason of fracture can now be possible through mimicking the scenario. In Fact, American Board of Internal Medicine (ABIM) has expressed the prevalence of this sort of training prior attempting to treat patients, in reality, considering that it has been effective in teaching normalized guidance in invasive monitoring and mechanical ventilation.

Benefits of VR in Medicine

With the advancement of technology and VR in medical domain, study of medicine has gotten calmer. Medical students can now perform hands on trials, however in safe environment. They can make slipups still in safe environment without causing injury to the patient and can operate with the same technique in real world. The system of HapTEL is being used in the field of dentistry which creates virtual dental chair with 3D training scenario of teeth that they have to work on.

The technique of VR is used in various other medical training such as paramedic training, preventative medicine, medical counselling, Robotic Surgery, etc.

Forecast

The Global Virtual Reality in Medicine and Healthcare Market was cherished at $ 240.91 billion in 2018 and is estimated to reach a level of $2,383.68 million by 2026 at a CAGR of 33.18%. The VR market is set to transform the medicine and health care in following years to come. VR in medicine is the integration of information technology in healthcare. Furthermore, VR is a powerful diagnostic tool and it assists in medical training, marketing, performing surgeries, and creating disease awareness mostly useful in techniques such as MRI or CT scan. Moreover, it is useful in treating panic attacks or anxiety, method of rational distraction with the aid of VR can be helpful while treating pain.

Market Drivers

Rise in neurological disorder, demand for innovative diagnostic techniques, awareness and benefits   of VR in healthcare are certain market drivers for the growth of virtual reality market, additionally the recent advancement in technology has given boost to the development of the market. However, in spite the benefits, VR in medicine faces certain challenges and limitations that include reduction in one-on-one communication leading to gap in learning, higher cost of treatment etc. On the contrary, use of advanced technology along with the aid of virtual reality has the potential to provide lucrative opportunities for the growth of virtual reality in medicine and healthcare market.

Key markets players, technology, product type, end-user and region

Based on the product type the market is divided into VR semiconductor components, devices, sensors etc. where the major share was contributed by virtual reality sensor in 2018 and is expected to rise in same pace till the forecasted period reason being rise in usage of sensor in movement and gesture tracking in several cancer and other neurological surgeries. Gleaned on technology the virtual reality in healthcare market is classified into various sub-heads as head-mounted, gesture-tracking, projector & display walls etc. where projector & display walls technology is forecasted to expand reason being rise in usage of VR technology equipped rooms and projector based immersive 3D visualization system stimulating virtual environment. By end-user the market is bifurcated into hospitals and clinics and research laboratories. Regionally the market is classified across Asia-Pacific, LAMEA, North America and Europe, where North American market dominates the major share in terms of revenue.