Metaverse in healthcare market worth $71.2 billion by 2030

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JERSEY CITY, NJ, May 25, 2022 /PRNewswire/ — InsightAce Analytic Pvt. announces the publication of a market assessment report on the “Global Healthcare Market Metaverse (component (software, hardware), technology (AR, VR, AI, MR), device (VR headsets, AR devices, mixed reality platforms), end user (training and medical education modules, diagnosis, treatment , Operating Room Design, Surgery Training, Remote Monitoring and Others)) Trends, Industry Competitive Analysis, Revenue and Forecast to 2030.”

According to the latest research from InsightAce Analytic, the global healthcare market metaverse is valued at US$5.06 billion in 2021, and it is expected to reach US$71.97 billion by 2030 growing at a CAGR of 34.8% over the forecast period 2022-2030. By region, North America dominated the market with a significant share in 2021.

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The metaverse is an emerging concept that will add many new dimensions as important social players combine various aspects of virtual reality and immersive experiences. It will be a great healthcare tool for learning, empowering, and delivering enjoyable experiences for patients and providers. The role of the Metaverse in transforming healthcare cannot be overstated as it combines AI, Virtual Reality, Augmented Reality, Internet of Medical Devices, Web 3.0, Smart Cloud, Edge Computing and quantum and robotics. With its wacky headgear and sci-fi detours, the world of augmented reality is poised to transform patient medical experiences. While surgical procedures already used robotics, complex surgeries are now configured to use augmented realities. Doctors and experts use virtual reality to train other doctors and medical personnel.

The increased use of AR platforms to perform complex surgical procedures with greater precision and flexibility will help the Metaverse grow in the healthcare market. Other critical factors that are expected to contribute to the market revenue in the coming years include increasing collaborations among major companies to develop AR and VR solutions to improve the overall surgical environment and increasing investments to create metaverse platforms to transform the healthcare sector. A growing number of companies are investing heavily in digital healthcare platforms to improve telemedicine experiences, accelerate the transition to virtual reality, and improve other medical services with augmented reality.

Patient data privacy, high cost of high-tech devices and hardware, and rising costs of more advanced digital healthcare infrastructure are challenges for the metaverse in the healthcare market.

North America is expected to lead the forecast period. This is due to the strong presence in the region of metaverse-focused companies, rapid advances in healthcare infrastructure, integration of AR and VR devices and platforms in healthcare, increased investment in AR products and applications and software and hardware upgrades.

Major 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.

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Key Market Developments

  • In April 2022meta platforms spent $10 billion to build the 2021 Metaverse. The company is building the world’s fastest supercomputer to accelerate Metaverse-related workloads, with completion expected within a year. Meta Platforms seems to have taken a big step towards monetizing the Metaverse with its Horizon Worlds virtual reality social platform. The company announced that it is currently testing a method for creators and developers to sell virtual items and experiences in the three-dimensional worlds of the Metaverse.
  • In March 2022, ventyn enters the healthcare metaverse with 8chili virtual reality platform HintVR for innovations in care coordination. Artificial intelligence virtual reality platforms combined with the power of 3D content and digital health applications enable virtual training, patient engagement, education and health coaching
  • In February 2022, Apollo Hospitals is collaborating with 8chili Inc to make a foray into the metaverse. The initiative will provide virtual reality patient counseling and help improve patient outcomes. The industry will also engage users in VR-mediated activities to encourage their abilities to regulate their emotions. This personalized approach to each patient will help increase patient satisfaction.
  • In November 2021, A new feature has been introduced by Microsoft. The feature combines the mixed reality capabilities of Microsoft Mesh. This feature allows people in different physical locations to join collaborative and shared holographic experiences with Microsoft Teams productivity tools. It allows people to join virtual meetings, send chats, collaborate on shared documents, and more.

Market segments

Global Healthcare Metaverse Market, By Making up2022-2030 (Value in US$ millions)

Global Healthcare Metaverse Market, By Technology2022-2030 (Value in US$ millions)

Global Healthcare Metaverse Market By Device2022-2030 (Value in US$ millions)

  • VR headsets
  • AR devices
  • Mixed reality platforms

Global Healthcare Metaverse Market By Final user2022-2030 (Value in US$ millions)

  • Medical training and education modules
  • Diagnostic
  • Treatment
  • Design operating rooms
  • Surgical training
  • Remote monitoring
  • Others

Global Healthcare Metaverse Market By Region2022-2030 (Value in US$ millions)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

North American Metaverse in Healthcare Market by Country2022-2030 (Value in US$ millions)

Europe Metaverse in Healthcare Market by Country2022-2030 (Value in US$ millions)

  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

Asia-Pacific Metaverse in Healthcare Market by Country2022-2030 (Value in US$ millions)

  • India
  • China
  • Japan
  • South Korea
  • Australia & New Zealand

Latin America’s Metaverse in the Healthcare Market by Country2022-2030 (Value in US$ millions)

  • Brazil
  • Mexico
  • Rest of Latin America

the Middle East & Africa Metaverse in the healthcare market by Country2022-2030 (Value in US$ millions)

  • GCC countries
  • South Africa
  • The rest of Middle East & Africa

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Other related reports published by InsightAce Analytics:

Global Big Data in Healthcare Market

Global Voice Technology in Healthcare Market

Global AI-Based Clinical Trial Solution Provider Market

Why buy this report:

  • To receive a comprehensive analysis of the Metaverse healthcare market outlook
  • To receive an industry overview and future trends of the Metaverse in Healthcare Market
  • To analyze the drivers and challenges of the healthcare market metaverse
  • To obtain information on the size of the Metaverse in Healthcare market (value in Million US$) forecasted till 2030
  • Major investments, mergers and acquisitions in the healthcare market metaverse industry

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