Global Metaverse in Healthcare Market is Anticipated to Grow at a CAGR of 32% During 2023-28

Global Metaverse in Healthcare Market is Anticipated to Grow at a CAGR of 32% During 2023-28

March 8, 2024

The application of the metaverse is gradually expanding into various sectors, including healthcare. According to a recent research report by MarkNtel Advisors, the Global Metaverse in Healthcare Market is expected to grow at a CAGR of around 32% during the forecast period of 2023-2028. The increasing adoption of metaverse technology in healthcare is aimed at assisting doctors, enhancing the patient experience, and providing training to doctors through augmented reality and virtual reality technology.

The report also states that the market is further accelerated due to the growing number of companies teaming up and capitalizing on the research & development of advanced tools and their applications in the healthcare sector. The development of technologies such as blockchain & digital twins are also driving the market growth significantly.

Moreover, the possibility for further growth and enhancement in metaverse technology, with the help of research & development by considerable funding & investment by major stakeholders is also predicted to expand the Global Metaverse in Healthcare Market.

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Segment-wise Analysis of the Global Metaverse in Healthcare Market

  • By Component (Software and Hardware)
  • By Technology (Virtual Reality, Augmented Reality, Mixed Reality, and Artificial Intelligence)
  • By Device (VR Devices, AR Devices, and Mixed Reality Platforms
  • By Application (Patient Engagement, Pre-Operation & Post-Operation Planning, Immersive 3D Training, 3D Lectures, VR Therapy, and Remote Monitoring)
  • By End User (Hospitals, Pharmaceuticals, and Insurance Companies)
  • By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)

Hardware stands at the forefront of the Global Metaverse in Healthcare Market given the rising requirement for High-level Devices, technological & machinery advancements, and the extensive adoption of AR and VR devices by the population to have a better and more vivid experience. Moreover, the demand for chips to hoard considerable technological storage needed by metaverse is constantly rising, thus leading to the growth of the segment. The investments and funds to improve the adoption, development, and implementation of haptic devices also aids in the growth of the market.

North America captures the largest share of the Global Metaverse in Healthcare Market owing to the generous existence of Metaverse-Focused Companies. The presence of several companies based on metaverse technology and the existence of major market participants in the region is expected to push the dominance of North America in the industry across the world. The increasing assimilation of advanced digital technology & the growing development of the already existing advanced healthcare system is further expected to fuel the North America Metaverse in the Healthcare Market growth.

Companies Holding a Significant Market Share

Some of the major companies like Brainlab, 8chilli, Inc., Novarad Corporation, ImmersiveTouch, Inc., Medical Realities Ltd., EON Reality Inc., Roblox Corporation, Microsoft Corporation, Nvidia Corporation, Siemens Healthineers, Zimmer Biomet, GE Healthcare, GameChangeVR, BioFlight VR, Veyond Metaverse, and Others, are having a strong hold on the Global Metaverse in Healthcare Market.

About Us:

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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