Global VR healthcare market to reach $12 billion by 2030

Global VR healthcare market to reach $12 billion by 2030
A new report published by entitled "Global Virtual Reality (VR) In Healthcare Industry" has said the sector will rise in value from $1.6bn in 2022 to $12bn in 2030.

In the changed post COVID-19 business landscape, the global market for VR in healthcare estimated at US$1.6 Billion in the year 2022, is projected to reach a revised size of US$12bn by 2030, growing at aCAGR of 29.2% over the period 2022-2030.

Hardware, one of the segments analysed in the report, is projected to record 33.9% CAGR and reach US$7.2bn by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the software segment is readjusted to a revised 23.3% CAGR for the next 8-year period.

The VR in healthcare market in the U.S. is estimated at US$453.8m in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9bn by the year 2030 trailing a CAGR of 27.3% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 25.3% and 22.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 15.8% CAGR.

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