Immersive Technology in Healthcare Market

Improved patient engagement is driving the market growth

Increased patient engagement is a major element influencing the market for immersive technologies in healthcare. Patients' active participation in their healthcare experience is referred to as patient engagement, and it is crucial for delivering high-quality, patient-centered care. Immersive technologies like virtual reality (VR), augmented reality (AR), and mixed reality (MR) have become effective tools to encourage this interaction, altering the way patients interact with medical information and clinicians. One of the main ways that increasing patient involvement is driving the market is via improving patient education.

Although they frequently fail to pique patients' interest and ensure that they understand difficult medical information, pamphlets and verbal explanations are two common traditional methods for doing so. This paradigm is altered by immersive technology, which increase the interaction and immersion of learning. By donning VR headsets, patients can examine three-dimensional anatomical models, take virtual tours of their own bodies, and observe medical procedures in a virtual environment.

Thanks to these immersive experiences, patients are better able to comprehend the complexities of their ailments, available treatments, and procedures, equipping them with the knowledge they need to make the best decision for their health.

Immersive technology has the potential to significantly improve the process of obtaining informed consent. Informed consent is an essential part of medical care and requires patients to fully understand the benefits and hazards of any prescribed treatments or procedures. Using immersive technologies, healthcare providers can create experiences that let patients virtually enter their treatment settings for permission. This ensures that patients have a better understanding of the treatments while also increasing transparency and confidence between patients and their medical personnel.

Increased patient engagement is beneficial for treatment strategy adherence. Patients who actively participate in their care are more likely to take prescribed medications exactly as prescribed, implement recommended lifestyle changes, and attend necessary follow-up sessions. Applications for VR and AR can be developed to deliver encouraging messages to patients, remind them when to take their meds, and acknowledge their adherence to treatment plans. Through gamification and increased engagement in healthcare, immersive technologies assist patients in following their care regimens, which ultimately improves health outcomes.

Treatment of pain is another area where increasing patient involvement is having a significant influence thanks to immersive technology. Pain can be a significant obstacle to receiving good treatment and recovering, especially for patients going through unpleasant procedures or dealing with chronic pain. Virtual reality (VR) technology offers an alternative to pain medication by offering immersive distraction therapy. Patients can leave their current settings and relocate to serene virtual worlds, which effectively decreases how unpleasant things look. In pediatric medicine, where young children undergoing arduous surgery often find comfort and distraction in VR experiences, this approach has proven particularly useful.

Thus, driving the Immersive Technology in Healthcare market revenue.

The Global Immersive Technology in Healthcare Market Industry experiences a notable surge in demand for enhanced patient engagement tools. Immersive technologies such as virtual reality and augmented reality facilitate interactive experiences that empower patients to take an active role in their healthcare journey. For instance, VR applications allow patients to visualize complex medical procedures, thereby reducing anxiety and improving understanding. As healthcare providers increasingly adopt these technologies, the market is projected to reach 1.4 USD Billion in 2024, indicating a growing recognition of the importance of patient-centered care in the healthcare ecosystem.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Immersive Technology in Healthcare Market dominated this market in 2022 (45.80%). Numerous top IT firms and academic centers in North America are developing immersive medical technology applications. Innovation and adoption are fueled by collaboration between academia, business, and healthcare providers. Further, the U.S. Immersive Technology in Healthcare market held the largest market share, and the Canada Immersive Technology in Healthcare market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: IMMERSIVE TECHNOLOGY IN HEALTHCARE MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Immersive Technology in Healthcare market accounts for the second-largest market share. Many European countries have universal healthcare systems, creating a strong incentive to find cost-effective solutions that can improve healthcare outcomes. Immersive technology can help achieve this goal. Further, the German Immersive Technology in Healthcare market held the largest market share, and the UK Immersive Technology in Healthcare market was the fastest growing market in the European region.

The Asia-Pacific Immersive Technology in Healthcare Market is expected to grow at the fastest CAGR from 2023 to 2032. Some of the largest and densestly populated nations in the world are found in the Asia-Pacific area. Innovative approaches are needed to meet the healthcare needs of these groups, and immersive technology can help increase access to care. Moreover, China’s Immersive Technology in Healthcare market held the largest market share, and the Indian Immersive Technology in Healthcare market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Immersive Technology in Healthcare market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Immersive Technology in Healthcare industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Immersive Technology in Healthcare industry to benefit clients and increase the market sector. In recent years, the Immersive Technology in Healthcare industry has offered some of the most significant advantages to medicine.

Major players in the Immersive Technology in Healthcare market, including Acer Inc., Atheer, Inc., AVEVA Group PLC, Barco NV, Blippar Ltd., Carl Zeiss AG, CM Labs Simulations Inc., EON Reality, Inc., FAAC Incorporated, Google, LLC, HCL Technologies Limited, Honeywell International, Inc., HTC Corporation, Immersive Media Company, Immersive Technologies Pty Limited, Lockheed Martin Corporation, Magic Leap, Inc., NCTech Limited, Oculus (Facebook Technologies, LLC.), Samsung Group, Sony Corporation, Unity Software Inc., Varjo Technologies Oy, VI-grade GmbH, Zeality Inc. and others, are attempting to increase market demand by investing in research and development operations.

A technological business called Unity Software Inc. (Unity Technologies) creates software platforms. The business offers the (RT3D) development platform, which gives programmers the means to make complex, interactive 2D, 3D, VR, and AR experiences. The product lines offered by Unity Technologies include, among others, Unity Plus, Unity Enterprise, Unity MARS, Unity Build Server, Pixyz, Optimization Accelerator, and multiplayer games. In addition, the business offers RT3D in a variety of industries, including architecture, games, movies, and engineering and construction. San Francisco, California, in the United States, serves as the home base for Unity Technologies.

Sony Group Corp. (Sony) manufactures a variety of products, including devices, tools, medical equipment, semiconductors, and electronics. The company's products include batteries, software, televisions, cell phones, cameras, music systems, game consoles, and other electrical equipment. Sony produces, buys, and distributes motion films, television programs, and recorded music in addition to operating television and digital networks. Through distributors, sales divisions, and online direct sales, the company promotes its products. Under the names Airpeak, Sony, PlayStation, Walkman, Blu-ray, Cyber-shot, Bravia, Exmor, and Experia, it offers products for sale.

Africa, the Middle East, Asia-Pacific, and the Americas are all where the company has activities. Sony's corporate headquarters are in Minato-Ku, Tokyo, Japan.