Virtual Reality (VR) in Healthcare Market to Exhibit a CAGR of 35.1% over 2024 to 2032; Sony Corporation and Siemens Joined Forces to Develop VR Headsets for Industrial Metaverse

The global virtual reality (VR) in healthcare market size stood at USD 3.12 billion in 2023. The market value is slated to rise from USD 4.18 billion in 2024 to USD 46.37 billion by 2032 at a CAGR of 35.1% during 2024-2032. Fortune Business Insights™ presents this information in its report, titled “Virtual Reality (VR) in Healthcare Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Application (Pain Management, Education & Training, Surgery, Patient Care Management, Rehabilitation & Therapy Procedures, and Others), and Regional Forecast, 2024-2032”.

The introduction of VR in healthcare has enabled simulation-driven training for healthcare professionals, providing precise treatment strategies and diagnoses. The rising endeavor of industry players to offer integrated 3D interactive content and 360-degree video features for the development of best learning programs is touted to push industry growth.

The virtual tool demand recorded an escalation during the COVID-19 pandemic, positively influencing virtual reality (VR) in healthcare industry expansion. The tools assisted professionals in securing real-time insights, depicting the impact of the virus on patients’ bodies.

HTC VIVE Rolled out the VIVE XR Elite to Consolidate its Position in the Global Market

In January 2023, HTC VIVE launched the VIVE XR Elite all-in-one headset. The solution is a lightweight, highly versatile, and powerful device integrating VR (virtual reality) and MR (mixed reality) capabilities. The launch signifies the next milestone in the progression toward fully immersive internet following virtual reality.   

Escalating Adoption of Smart Wearables to Bolster Industry Expansion

The recent years have recorded substantial advancements in wearable technology. The market has recorded the launch of several devices such as smartwatches, fitness trackers, AR glasses, smart apparel, hearables, and medical devices. According to industry experts, earwear has been reported to exhibit the maximum shipment volume, with estimated number of shipments being 347 million units in 2024. These aspects are poised to fare well for virtual reality (VR) in healthcare market growth over the forthcoming years.

However, the technical limitations associated with the deployment of the technology could hamper industry proliferation. 

Pivotal Players Introduce Advanced Solutions to Consolidate their Industry Positions

Major market players are focused on providing advanced virtual goggles and headsets for medical training. These companies are offering solutions catering to virtual medical applications such as psychological & mental administration, vision inspection, rehabilitation, and others. The companies’ intent behind such initiatives is to strengthen their positions in the virtual reality (VR) in healthcare industry.

Key Players Profiled in the Report

• Koninklijke Philips N.V. (Netherlands)


• Samsung Electronics Co. Ltd. (South Korea)


• HTC Corporation (Taiwan)


• Sony Corporation (Japan)


• XRHealth  (U.S.)


• Siemens (Germany)


• Medical Realities Ltd. (U.K.)


• Meta Platforms, Inc. (U.S.)


• AppliedVR, Inc. (U.S.)


• Virti (U.K.)


• ORamaVR (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-vr-in-healthcare-market-101679

Key Industry Development

• May 2024 – Sony Corporation partnered with Siemens. The deal centered on the introduction of virtual reality headsets for the industrial metaverse ecosystem.

Further Report Findings

• North America virtual reality (VR) in healthcare market share stood at a dominant position in the global market. The regional dominance is favored by significant investments in R&D initiatives and the launch of government initiatives pushing product demand. For instance, the U.S. government is investing in research initiatives focused on exploring VR applications in the healthcare industry.


• The Europe market for virtual reality (VR) in healthcare is anticipated to hold a remarkable share in the global market over the analysis period. The medical sector in the region holds the second-largest position in terms of investments at the global level. The total healthcare investments in the region hit USD 86 billion in 2021 from USD 16 billion in 2017, according to the Healthcare Investments and Exits Annual Report 2022.


• The Middle East & Africa market for virtual reality (VR) in healthcare is poised to record a significant growth rate over the projection period. This is due to the escalating emphasis on the expansion of the regional healthcare sector and considerable investments in advanced technologies by countries such as Qatar, Saudi Arabia, and the UAE. Some of these technologies comprise VR and AR, IoT (Internet of Things), and AI (Artificial Intelligence).

Table of Segmentation