Virtual Reality Therapy Market Share

Virtual Reality in Therapy Market Overview

The Virtual Reality in Therapy Market Size was valued at USD 1.1 Billion in 2023. The Virtual Reality in Therapy market industry is projected to grow from USD 1.5 Billion in 2024 to USD 10.13 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 31.20% during the forecast period (2024 - 2032). The Increasing collaboration among hardware manufacturers and providers of medical devices are significant market driver augmenting the growth of the market.

Figure 1: Virtual Reality in Therapy Market Size, 2024-2032 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Virtual Reality in Therapy Market Trends

Virtual reality is increasingly used in physical rehabilitation settings driving market growth.

Virtual Reality in Therapy in a secure and regulated setting, VR treatment allows patients to practice motions and tasks. This is very advantageous for individuals who could experience dread or anxiety due to particular actions or situations. To provide a safe and individualized rehabilitation experience, virtual environments can gradually introduce tasks and increase difficulty levels based on the needs of individual patients. Patients can carry out their rehabilitation exercises at home with VR treatment. Patients can conveniently receive therapy remotely with the use of mobile and user-friendly VR devices, which eliminates the need for regular trips to a clinic or hospital. Virtual reality (VR) can improve patient compliance and adherence to treatment regimens, resulting in improved results for patients receiving home-based rehabilitation. Many studies demonstrate how helpful VR is for physical rehabilitation. Healthcare professionals and rehabilitation specialists are embracing virtual reality (VR) as a useful tool in their practice as more data supports it. VR therapy's business is partly growing because of its legitimacy and scientific foundation.

VR treatment provides immersive and engaging experiences that can improve patient results, making it particularly advantageous for physical rehabilitation. VR therapy can facilitate motor learning, balance, coordination, and functional rehabilitation more successfully than traditional approaches alone by including patients in virtual settings and activities. Virtual reality enables the development of individualized rehabilitation plans catering to each patient's unique requirements and objectives. To provide targeted and personalized rehabilitation interventions, therapists can create virtual settings and exercises that address specific issues. This personalized approach improves the effectiveness of the treatment and patient satisfaction. Patients are encouraged to actively participate in their rehabilitation through VR therapy's compelling and interactive experience. The therapeutic sessions may be more fun thanks to VR's immersive features, which can also help patients stick to their treatment plan by avoiding boredom. Improved compliance and rehabilitation results are a result of more patient engagement and motivation.

Patients can practice movements and activities in a safe and regulated environment due to virtual reality. It allows the risk-free simulation of real-world situations like moving around on various surfaces or carrying out particular tasks. In a safe environment, patients can gain confidence and enhance their functional abilities, lowering their fear of damage.

Real-time data on a patient's physiological and emotional responses can be obtained using sensors and biofeedback during VR therapy sessions. This information enables therapists to track and evaluate patients' progress, personalize therapy regimens, and make quick changes to maximize therapeutic results. By giving important insights into the patient's physiological condition and response to treatment, the use of biofeedback and sensors improves the efficacy of VR therapy. Virtual reality therapy is made more individualized and adaptable by biofeedback and sensor technologies. Therapists are able to customize the virtual environment and stimuli to the patient's needs by monitoring physiological factors like heart rate, skin conductance, or muscle tension. The possibility of successful therapeutic outcomes is increased by this personalization, which guarantees that therapy interventions are carefully focused. VR therapy's capacity to be used in a variety of therapeutic settings is increased by the incorporation of biofeedback and sensors. In addition to other things, it can be used to reduce stress and anxiety as well as to manage pain, treat phobias, and practice relaxation. VR therapy is increasingly being used in a variety of healthcare settings due to the adaptability of biofeedback and sensor integration, which is driving the market growth.

Virtual Reality in Therapy Market Segment Insights

Virtual Reality in Therapy Technology Insights

The Virtual Reality in Therapy market segmentation, based on Technology, includes Full Immersive VR, Semi-Immersive VR, and Non- Immersive VR. The full immersive VR segment is expected to lead the Virtual Reality in Therapy market throughout the forecast period. The use of immersive VR technology can produce incredibly lifelike representations of a variety of situations and settings. To help patients experience certain emotions in a safe and regulated way, therapists might create virtual worlds that mimic real-world circumstances or elicit particular feelings. This realism increases the therapy's effectiveness by delivering a more genuine and powerful experience.

Figure 2: Virtual Reality in Therapy Market, by Technology, 2022 & 2032 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Virtual Reality in Therapy Device Insights

The global Virtual Reality in Therapy market segmentation, based on Device, includes Head Mount, Gesture Control, and Projectors. The head mount segment is expected to hold the major share of the Virtual Reality in Therapy market over the forecast period. Sensor integration increases the interactivity and efficacy of VR therapy. HMDs can integrate a variety of sensors to track head movements, eye gaze, or even physiological responses. These sensors provide useful data that can be used to monitor patient engagement, assess treatment progress, or adapt therapy interventions in real time.

Virtual Reality in Therapy Application Insights

The Virtual Reality in Therapy market segmentation, based on the Application, includes Phobia Treatment, Robotic Surgery, Visualization, Rehabilitation, Treatment of Post-Traumatic Stress Disorder, Treatment of Autism, and Surgery Simulation. The phobia treatment application segment is expected to hold the major share of the Virtual Reality in Therapy market over the forecast period. VR offers a safe and immersive environment for exposure therapy, which is a common method in the treatment of phobias. Virtual simulations of the patients' phobias, such as heights, spiders, flying, or public speaking, are presented to them. The exposure can be adjusted to the person's hierarchy of fears by gradually escalating the complexity or severity of the virtual experiences.

Virtual Reality in Therapy Regional Insights

By region, the analysis offers market insights into North America, Asia Pacific, Europe, and the Rest of the World. The North American Virtual Reality in Therapy market is anticipated to lead the market throughout the forecast period. The healthcare system in North America is well-established and actively absorbs new technologies. Numerous hospitals, clinics, and healthcare facilities in the area are open to incorporating VR therapy within their range of available treatments. The region's current infrastructure creates a favorable environment for the adoption and growth of VR therapy.

Further, the key countries considered in the market report are The US, Canada, German, France, the UK, Spain, Italy, China, Japan, India, South Korea, Brazil, and Australia.

Figure 3: VIRTUAL REALITY IN THERAPY MARKET SHARE BY REGION 2022 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Europe Virtual Reality in Therapy market accounts for the second-highest market share. The healthcare industry in Europe prioritizes research and development (R&D), which includes VR technology. In Europe, academic institutions, research facilities, and medical universities perform in-depth studies on the uses and efficacy of VR therapy. The continuous R&D initiatives help to build the body of evidence and promote the use of VR therapy in therapeutic settings. Further, the German Virtual Reality in Therapy market held the largest market share, and the UK Virtual Reality in Therapy market was the fastest-growing market in the European region.

The Asia Pacific Virtual Reality in Therapy Market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia Pacific region is becoming more and more aware of and accepting of mental health challenges. Governments and healthcare institutions are putting more emphasis on mental health and looking for efficient treatment alternatives. In line with patient preferences in the area, VR therapy provides a non-invasive and immersive approach to mental health treatment. Moreover, China’s Virtual Reality in Therapy market held the largest market share, and the Indian Virtual Reality in Therapy market was the fastest-growing market in the Asia Pacific region.

Virtual Reality in Therapy Key Market Players & Competitive Insights

Due to significant R&D investments made by the top market players to expand their product offerings, the market for virtual reality in therapy is expanding. Significant industry advancements can occur through various methods, including contracts, acquisitions, increased investment, and joint partnerships with other businesses. Major industrial corporations are creating several programs to broaden their impact globally. The Virtual Reality in Therapy Company must offer services at reasonable pricing if it wants to develop and thrive in a challenging and competitive industry.

Utilizing local manufacturing to cut operating costs is one of the main techniques businesses employ to satisfy clients and expand Virtual Reality in the Therapy market sector globally. Virtual Reality in Therapy market has recently substantially helped the Robotic Surgery business. Major corporations in the Virtual Reality in Therapy market, including Siemens Healthcare (Germany), Virtalis Ltd (U.K.), CAE Healthcare (U.S.), GE Healthcare (U.S.), Virtual Realities Llc (U.K.), and others, are trying to surge market demand by spending on research and development processes.

The CAE Inc. (CAE) Company designs, integrates, offers training solutions, and serves the aerospace and defense industries. The company offers services for aviation, training, integrated enterprise solutions, and workforce sourcing. Healthcare, Defense and Security, and Civil Aviation Training Solutions comprise CAE's three reportable segments that comprise its business operations. In 35 countries in the Americas, Europe, the Middle East, and Asia, the group has more than 200 locations. In March 2022, CAE Healthcare introduced CAE CathLabVR, a non-invasive cardiovascular simulator that offers realism for treating vascular and cardiac issues, with Microsoft HoloLens 2 connectivity.

GE Healthcare Technologies Inc. (GE HealthCare) is a leading global provider of medical devices, specializing in the design, development, production, and distribution of diagnostic imaging, clinical systems, drug discovery, biopharmaceutical production, cellular technologies, imaging agents for use in medical scanning, and a variety of healthcare IT products. Additionally, GE HealthCare offers services, including computerized data management, performance enhancement and performance solutions, and remote diagnosis and repair services for medical devices made by the business and others. The corporation uses subsidiaries and affiliates to run its operations worldwide. Chicago, Illinois, serves as the company's headquarters in the United States. In November 2022, GE Healthcare worked with Mediview XR, Inc. to incorporate medical imaging into mixed reality technology to create the OmnifyXRTM Interventional Suite System.

Key Companies in the Virtual Reality in Therapy market include

• 
  

  Siemens Healthcare (Germany)

  
  


• 
  

  Virtalis Ltd (U.K.)

  
  


• 
  

  CAE Healthcare (U.S.)

  
  


• 
  

  GE Healthcare (U.S.)

  
  


• 
  

  Virtual Realities Llc (U.K.)

  
  


• 
  

  Qualcomm Technologies Inc. (U.S.)

  
  


• 
  

  Samsung Group (South Korea)

  
  


• 
  

  Vuzix (U.S.)

  
  


• 
  

  Mimic Technologies Inc (U.S.)

  
  


• 
  

  Brainlab (Germany)

  
  

Virtual Reality in Therapy Industry Developments

November 2022: To incorporate medical imaging into mixed reality technology, GE Healthcare worked with Mediview XR, Inc. to create the OmnifyXRTM Interventional Suite System.

March 2022: CAE Healthcare has introduced CAE CathLabVR, a non-invasive cardiovascular simulator that offers realism for treating vascular and cardiac issues, with Microsoft HoloLens 2 connectivity.

Virtual Reality in Therapy Market Segmentation

Virtual Reality in Therapy Technology Outlook

• 
  

  Full Immersive VR

  
  


• 
  

  Semi-Immersive VR

  
  


• 
  

  Non- Immersive VR

  
  

• 
  

  Head Mount

  
  


• 
  

  Gesture Control

  
  


• 
  

  Projectors

  
  

Virtual Reality in Therapy Application Outlook

• 
  

  Phobia Treatment

  
  


• 
  

  Robotic Surgery

  
  


• 
  

  Visualization

  
  


• 
  

  Rehabilitation

  
  


• 
  

  Treatment of Post-Traumatic Stress Disorder

  
  


• 
  

  Treatment of Autism

  
  


• 
  

  Surgery Simulation

  
  

Virtual Reality in Therapy Regional Outlook

• 
  

  North America

  
  
  
  
  • 
    

    US

    
    
  
  
  • 
    

    Canada

    
    
  
  
  
  


• 
  

  Europe

  
  
  
  
  • 
    

    Germany

    
    
  
  
  • 
    

    France

    
    
  
  
  • 
    

    UK

    
    
  
  
  • 
    

    Italy

    
    
  
  
  • 
    

    Spain

    
    
  
  
  • 
    

    Rest of Europe

    
    
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • 
    

    China

    
    
  
  
  • 
    

    Japan

    
    
  
  
  • 
    

    India

    
    
  
  
  • 
    

    Australia

    
    
  
  
  • 
    

    South Korea

    
    
  
  
  • 
    

    Australia

    
    
  
  
  • 
    

    Rest of Asia-Pacific

    
    
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • 
    

    Middle East

    
    
  
  
  • 
    

    Africa

    
    
  
  
  • 
    

    Latin America