Metaverse in Healthcare Market by Component (Hardware, Services, Software), Technology (AR/VR, MR, AI, Blockchain, IoT), Application(Telehealth, Diagnostics, Medical Training & Education), End User (Provider, Patients, Payers, Pharma) - Global Forecast to 2028

Abstract
The global metaverse in healthcare market is projected to reach USD 79.6 billion by 2028 from USD 9.5 billion in 2023, at a CAGR of 52.9% during the forecast period. There is a growing inclination for metaverse technologies for healthcare in North America. Increasing popularity of virtual and augmented reality (VR/AR) technologies, which have been used in various healthcare applications, including surgical training, pain management, and therapy is attributing to growth of the market in this region.

In addition, the COVID-19 pandemic has accelerated the adoption of telehealth services, which has created a need for more immersive and engaging virtual experiences for patients and healthcare providers. The metaverse can provide a virtual environment that simulates real-life interactions, allowing patients and healthcare professionals to communicate and collaborate in a more natural and intuitive way.

“The software segment is projected to be the largest segment in the metaverse in healthcare market”
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Based on the components, the software segment is projected to be the largest segment during the forecast period. This share can be attributed to factors such as potential for customization and personalization. Healthcare professionals and patients can use software to create and access virtual environments that are tailored to their specific needs, preferences, and medical conditions, increasing adaptation of AR platforms to perform complex surgical procedures for higher precision and flexibility and investments made in the software segment.

“Healthcare Provider was the largest segment by the end user of metaverse in healthcare market in 2022”.

Healthcare provider is projected to grow at the highest growth rate in the metaverse in healthcare market in 2022. The high growth can be attributed to rising need for an efficient healthcare system, growing patient volume, increasing number of hospitals and ambulatory care centers, growth in telehealth and rising adoption of metaverse technology in healthcare.

“APAC to witness the highest growth rate during the forecast period.”

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by factors owing to the growing medical tourism industry, increasing incidence of lifestyle and chronic disorders, and the rising adoption of metaverse technologies. Asia Pacific market offer lucrative growth opportunities for market players, mainly due to the growing government initiatives and the increasing incidence of lifestyle disorders. The growth in these markets will likely be centered in China, South Korea, and Japan. This is mainly due to the rising need for advanced healthcare technology to track and monitor the huge volume of patients, and the rising demand for quality healthcare at low costs are driving the growth of this market.

The break-down of primary participants is as mentioned below:
•By Company Type - Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
•By Designation - C-level: 31%, Director-level: 27%, and Others: 42%
•By Region - North America: 40%, Europe: 20%, Asia Pacific: 30%, Latin America: 5%, and Middle East & Africa: 5%.

Key players in the Metaverse in Healthcare Market
The key players operating in the metaverse in healthcare market include Microsoft (US), NVIDIA Corporation (US), XRHealth (US), CAE, Inc.(Canada), Koninklijke Philips N.V. (Netherlands), ImmersiveTouch, Inc. (US), Wipro (India), Siemens Healthineers AG (Germany), Medtronic plc(Ireland), GE Healthcare(US), Intuitive Surgical (US), 8Chili, Inc. (US), MindMaze (Switzerland), AccuVein, Inc.(US),EON Reality(US), Brainlab AG (Germany), Novarad Corporation (US), Oodles Technologies (India), CMR Surgical(UK), Merative (US), BioflightVR(US), WorldViz, Inc. (US), Google(US), Oculus(Meta Platforms, Inc.)(US), Augmedics(US)

Research Coverage:
The report analyses the metaverse in healthcare market and aims to estimate the market size and future growth potential of various market segments, based on components, application, technology, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market.

The report provides insights on the following pointers:
•Analysis of key drivers (Increasing adoption of mixed reality for performing minimally invasive surgeries, Applications of metaverse in telemedicine, Increasing use of digital twins, Increasing importance of blockchain technology in healthcare) restraints (Data privacy and security concerns, High implementation cost, Health and mental issues from excessive use), opportunities (increasing use of metaverse in medical education and training and use of metaverse in surgical applications) and challenges ( HIPAA regulations for healthcare metaverse, Interoperability issues, Local government restrictions coupled with environmental impact)
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the metaverse in healthcare market
•Market Development: Comprehensive information about lucrative markets – the report analyses the metaverse in healthcare market across varied regions.
•Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the metaverse in healthcare market
•Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Microsoft (US), NVIDIA Corporation (US), XRHealth (US), CAE, Inc.(Canada), Koninklijke Philips N.V. (Netherlands), ImmersiveTouch, Inc. (US), Wipro (India), Siemens Healthineers AG (Germany), Medtronic plc(Ireland), GE Healthcare(US), Intuitive Surgical (US), 8Chili, Inc. (US), MindMaze (Switzerland), AccuVein, Inc.(US),EON Reality(US), Brainlab AG (Germany), Novarad Corporation (US), Oodles Technologies (India), among others in the metaverse in healthcare market strategies. The report also helps stakeholders understand the pulse of the remote care market and provides them information on key market drivers, restraints, challenges, and opportunities.

Content
Table of Contents

1INTRODUCTION26
1.1STUDY OBJECTIVES26
1.2MARKET DEFINITION26
1.2.1INCLUSIONS AND EXCLUSIONS27
1.3MARKETS COVERED27
1.3.1METAVERSE IN HEALTHCARE MARKET SEGMENTATION, BY REGION28
1.3.2YEARS CONSIDERED28
1.4CURRENCY CONSIDERED28
1.5STAKEHOLDERS29
1.6LIMITATIONS29
1.7RECESSION IMPACT29
2RESEARCH METHODOLOGY30
2.1RESEARCH APPROACH30
2.2RESEARCH METHODOLOGY DESIGN30
FIGURE 1METAVERSE IN HEALTHCARE MARKET: RESEARCH DESIGN30
2.2.1SECONDARY RESEARCH31
2.2.1.1Key data from secondary sources32
2.2.2PRIMARY DATA32
FIGURE 2PRIMARY SOURCES32
2.2.2.1Key data from primary sources33
2.2.2.2Insights from primary experts34
FIGURE 3BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY, DESIGNATION, AND REGION34
2.3MARKET SIZE ESTIMATION: METAVERSE IN HEALTHCARE MARKET35
FIGURE 4SUPPLY-SIDE MARKET SIZE ESTIMATION: REVENUE SHARE ANALYSIS35
FIGURE 5METAVERSE IN HEALTHCARE MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES36
2.3.1DEMAND-SIDE APPROACH37
FIGURE 6MARKET PROJECTIONS FROM DEMAND-SIDE37
FIGURE 7CAGR PROJECTIONS FROM ANALYSIS OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES38
FIGURE 8CAGR PROJECTIONS: SUPPLY-SIDE ANALYSIS39
2.4MARKET BREAKDOWN AND DATA TRIANGULATION40
2.5MARKET RANKING ESTIMATION41
2.6ASSUMPTIONS41
2.7LIMITATIONS42
2.7.1METHODOLOGY-RELATED LIMITATIONS42
2.7.2SCOPE-RELATED LIMITATIONS42
2.8RISK ASSESSMENT42
TABLE 1RISK ASSESSMENT: METAVERSE IN HEALTHCARE MARKET42
2.9IMPACT OF RECESSION ON METAVERSE IN HEALTHCARE MARKET42
3EXECUTIVE SUMMARY44
FIGURE 2METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2023 VS. 2028 (USD MILLION)44
FIGURE 3METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2023 VS. 2028 (USD MILLION)45
FIGURE 4METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION)46
FIGURE 5METAVERSE IN HEALTHCARE MARKET, BY END USER, 2023 VS. 2028 (USD MILLION)46
FIGURE 6GEOGRAPHICAL SNAPSHOT OF METAVERSE IN HEALTHCARE MARKET47
4PREMIUM INSIGHTS49
4.1METAVERSE IN HEALTHCARE MARKET OVERVIEW49
FIGURE 7INCREASING ADOPTION OF MIXED REALITY SOLUTIONS IN HEALTHCARE APPLICATIONS TO DRIVE MARKET GROWTH49
4.2ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT AND COUNTRY50
FIGURE 8SOFTWARE SEGMENT TO COMMAND LARGEST SHARE OF ASIA PACIFIC MARKET IN 202350
4.3GEOGRAPHICAL SNAPSHOT OF METAVERSE IN HEALTHCARE MARKET51
FIGURE 9MARKET IN CHINA TO GROW AT HIGHEST CAGR51
4.4REGIONAL MIX: METAVERSE IN HEALTHCARE MARKET52
FIGURE 10ASIA PACIFIC TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD52
4.5METAVERSE IN HEALTHCARE MARKET: DEVELOPED VS. DEVELOPING MARKETS52
FIGURE 11DEVELOPING MARKETS TO REGISTER HIGHER GROWTH RATES52
5MARKET OVERVIEW53
5.1INTRODUCTION53
5.2MARKET DYNAMICS53
TABLE 2DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: IMPACT ANALYSIS53
5.2.1DRIVERS54
5.2.1.1Increasing adoption of mixed reality for performing minimally invasive surgeries54
5.2.1.2Applications of metaverse in telemedicine54
5.2.1.3Increasing use of digital twins55
5.2.1.4Increasing importance of blockchain technology in healthcare56
5.2.2RESTRAINTS57
5.2.2.1Data privacy and security concerns57
FIGURE 12US: NUMBER OF DATA BREACHES (2005–2022)58
5.2.2.2High implementation cost58
5.2.2.3Health and mental issues from excessive use58
5.2.3OPPORTUNITIES59
5.2.3.1Increasing use of metaverse in medical education and training59
5.2.3.2Use of metaverse in surgical applications60
5.2.4CHALLENGES60
5.2.4.1HIPAA regulations for healthcare metaverse60
5.2.4.2Interoperability issues61
5.2.4.3Local government restrictions coupled with environmental impact61
6INDUSTRY INSIGHTS62
6.1INDUSTRY TRENDS62
6.1.1TRANSFORMATION IN CLINICAL TRIALS62
6.1.2EMERGENCE OF IMMERSIVE THERAPEUTICS62
6.1.3FUTURE TRENDS IN METAVERSE IN HEALTHCARE62
6.2RISE IN HEALTHCARE METAVERSE INVESTMENTS63
6.3TECHNOLOGY ANALYSIS64
6.3.1TECHNOLOGY STACK64
FIGURE 13METAVERSE MARKET: TECHNOLOGIES64
6.3.2INFRASTRUCTURE LEVEL64
6.3.2.15G network64
6.3.2.2Internet of Things65
6.3.2.3Cloud and edge computing65
6.3.3DESIGN AND DEVELOPMENT LEVEL65
6.3.3.1Blockchain65
6.3.3.23D modeling and real-time rendering65
6.3.3.3Artificial intelligence, natural language processing, and computer vision66
6.3.4HUMAN INTERACTION LEVEL66
6.3.4.1Virtual reality66
6.3.4.2Augmented reality66
6.3.4.2.1Monitor-based AR technology67
6.3.4.2.2Near-eye-based AR technology67
6.3.4.2.3Web AR68
6.3.4.3Mixed reality68
6.4PORTER’S FIVE FORCES ANALYSIS68
FIGURE 14METAVERSE IN HEALTHCARE MARKET: PORTER’S FIVE FORCES ANALYSIS69
TABLE 3METAVERSE IN HEALTHCARE MARKET: PORTER’S FIVE FORCES ANALYSIS69
6.4.1INTENSITY OF COMPETITIVE RIVALRY70
6.4.2BARGAINING POWER OF SUPPLIERS70
6.4.3BARGAINING POWER OF BUYERS70
6.4.4THREAT OF NEW ENTRANTS71
6.4.5THREAT OF SUBSTITUTES71
 
6.5REGULATORY LANDSCAPE72
6.5.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS72
TABLE 4NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS72
TABLE 5EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS73
TABLE 6ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS74
TABLE 7REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS75
6.5.2REGULATORY IMPLICATIONS AND INDUSTRY STANDARDS77
6.6VALUE-CHAIN ANALYSIS77
FIGURE 15VALUE-CHAIN ANALYSIS (2022)78
6.7ECOSYSTEM78
FIGURE 16METAVERSE IN HEALTHCARE MARKET: ECOSYSTEM79
6.8PATENT ANALYSIS79
FIGURE 17NUMBER OF PATENTS PUBLISHED, JANUARY 2013 TO MARCH 202379
FIGURE 18TOP METAVERSE IN HEALTHCARE PATENT OWNERS80
TABLE 8KEY PATENTS IN THE METAVERSE IN HEALTHCARE MARKET80
6.9CASE STUDY ANALYSIS81
6.9.1CASE STUDY 1: RIGOROUS TRAINING OF PROFESSIONAL ATHLETES WITHOUT PHYSICAL STRAIN81
6.9.2CASE STUDY 2: AUGMENTED REALITY FOR SURGERY82
6.9.3CASE STUDY 3: VIRTUAL HOSPITALS AND CLINICS82
6.9.4CASE STUDY 4: ENTERING DRUG DISCOVERY AND RESEARCH82
6.9.5CASE STUDY 5: ENTERING MEDICAL TRAINING AND EDUCATION83
6.10KEY STAKEHOLDERS AND BUYING CRITERIA83
6.10.1KEY STAKEHOLDERS IN BUYING PROCESS83
FIGURE 19INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS83
TABLE 9INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS (%)84
6.10.2BUYING CRITERIA84
FIGURE 20KEY BUYING CRITERIA FOR METAVERSE COMPONENTS84
TABLE 10KEY BUYING CRITERIA FOR METAVERSE COMPONENTS84
6.11KEY CONFERENCES AND EVENTS IN 2023–202485
TABLE 11METAVERSE IN HEALTHCARE MARKET: DETAILED LIST OF CONFERENCES AND EVENTS85
6.12TRENDS/DISRUPTIONS IMPACTING BUYERS86
FIGURE 21METAVERSE MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS86
 
7METAVERSE IN HEALTHCARE MARKET, BY COMPONENT87
7.1INTRODUCTION88
TABLE 12METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)88
TABLE 13METAVERSE IN HEALTHCARE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)88
7.2SOFTWARE89
7.2.1INCREASING INVESTMENTS IN AR/VR TECHNOLOGY IN HEALTHCARE TO DRIVE GROWTH89
TABLE 14METAVERSE IN HEALTHCARE SOFTWARE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)90
7.3HARDWARE90
7.3.1AR DEVICES90
7.3.2VR DEVICES91
7.3.3MR DEVICES91
7.3.4DISPLAYS91
TABLE 15METAVERSE IN HEALTHCARE HARDWARE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)92
7.4SERVICES92
7.4.1SERVICES HELP IMPROVE PATIENT CARE, ENHANCE MEDICAL TRAINING AND EDUCATION, AND ENABLE REMOTE HEALTHCARE92
TABLE 16METAVERSE IN HEALTHCARE SERVICES MARKET, BY COUNTRY, 2021–2028 (USD MILLION)93
8METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY94
8.1INTRODUCTION95
TABLE 17METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)95
8.2AUGMENTED AND VIRTUAL REALITY95
8.2.1INCREASING DEMAND FOR AR/VR APPLICATIONS IN HEALTHCARE TO DRIVE GROWTH95
TABLE 18METAVERSE IN HEALTHCARE MARKET FOR AUGMENTED AND VIRTUAL REALITY, BY COUNTRY, 2021–2028 (USD MILLION)96
8.3MIXED REALITY96
8.3.1INCREASING AWARENESS OF DIGITAL/VIRTUAL MEDICINE TO DRIVE GROWTH96
TABLE 19METAVERSE IN HEALTHCARE MARKET FOR MIXED REALITY, BY COUNTRY, 2021–2028 (USD MILLION)97
8.4ARTIFICIAL INTELLIGENCE97
8.4.1WIDE AVAILABILITY OF COMPLEX DATASETS TO DRIVE GROWTH97
TABLE 20METAVERSE IN HEALTHCARE MARKET FOR ARTIFICIAL INTELLIGENCE, BY COUNTRY, 2021–2028 (USD MILLION)98
8.5BLOCKCHAIN98
8.5.1INCREASING NEED TO REDUCE COST OF SECURE DATA EXCHANGE TO DRIVE GROWTH98
TABLE 21METAVERSE IN HEALTHCARE MARKET FOR BLOCKCHAIN, BY COUNTRY, 2021–2028 (USD MILLION)99
8.6DIGITAL TWIN99
8.6.1INCREASING ADOPTION OF DIGITALIZATION IN HEALTHCARE TO PROPEL MARKET GROWTH99
TABLE 22DESCRIPTION OF DIGITAL TWIN IN HEALTHCARE CONTEXT100
TABLE 23METAVERSE IN HEALTHCARE MARKET FOR DIGITAL TWIN, BY COUNTRY, 2021–2028 (USD MILLION)100
8.7INTERNET OF THINGS100
8.7.1ADVANCEMENTS IN HEALTHCARE AND WIDE ACCEPTANCE OF REMOTE CARE TO DRIVE GROWTH100
TABLE 24METAVERSE IN HEALTHCARE MARKET FOR INTERNET OF THINGS, BY COUNTRY, 2021–2028 (USD MILLION)101
8.8MEDICAL WEARABLES102
8.8.1INCREASING FOCUS ON FITNESS AND HEALTH TO SUPPORT GROWTH102
TABLE 25METAVERSE IN HEALTHCARE MARKET FOR MEDICAL WEARABLES, BY COUNTRY, 2021–2028 (USD MILLION)102
9METAVERSE IN HEALTHCARE MARKET, BY APPLICATION103
9.1INTRODUCTION104
TABLE 26METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)104
9.2DIGITAL THERAPEUTICS104
9.2.1RISING INCIDENCE OF PREVENTABLE CHRONIC DISEASES TO DRIVE GROWTH104
TABLE 27METAVERSE IN HEALTHCARE MARKET FOR DIGITAL THERAPEUTICS, BY COUNTRY, 2021–2028 (USD MILLION)105
9.3MEDICAL DIAGNOSTICS105
9.3.1METAVERSE ENVIRONMENT CAN OFFER ENHANCED MEDICAL DIAGNOSTICS105
TABLE 28METAVERSE IN HEALTHCARE MARKET FOR MEDICAL DIAGNOSTICS, BY COUNTRY, 2021–2028 (USD MILLION)106
9.4MEDICAL EDUCATION AND SURGICAL TRAINING106
9.4.1METAVERSE ADDING NEW DIMENSIONS TO MEDICAL EDUCATION AND SURGICAL TRAINING106
TABLE 29METAVERSE IN HEALTHCARE MARKET FOR MEDICAL EDUCATION AND SURGICAL TRAINING, BY COUNTRY, 2021–2028 (USD MILLION)107
9.5TELEHEALTH AND TELEMEDICINE107
9.5.1GROWING GERIATRIC POPULATION TO DRIVE MARKET GROWTH107
TABLE 30METAVERSE IN HEALTHCARE MARKET FOR TELEHEALTH AND TELEMEDICINE, BY COUNTRY, 2021–2028 (USD MILLION)108
9.6DRUG DISCOVERY AND PERSONALIZED MEDICINE109
9.6.1METAVERSE TO HELP REDUCE TIME AND COST INVOLVED IN DRUG DISCOVERY109
TABLE 31METAVERSE IN HEALTHCARE MARKET FOR DRUG DISCOVERY AND PERSONALIZED MEDICINE, BY COUNTRY, 2021–2028 (USD MILLION)110
9.7OTHER APPLICATIONS110
TABLE 32METAVERSE IN HEALTHCARE MARKET FOR OTHER APPLICATIONS, BY COUNTRY, 2021–2028 (USD MILLION)111
10METAVERSE IN HEALTHCARE MARKET, BY END USER112
10.1INTRODUCTION113
TABLE 33METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)113
10.2HEALTHCARE PROVIDERS113
10.2.1INCREASING NEED TO IMPROVE PROFITABILITY OF HEALTHCARE OPERATIONS TO BOOST GROWTH113
TABLE 34METAVERSE IN HEALTHCARE MARKET FOR HEALTHCARE PROVIDERS, BY COUNTRY, 2021–2028 (USD MILLION)114
10.3HEALTHCARE PAYERS114
10.3.1INCREASING FOCUS ON OUTCOME-BASED PAYMENT MODELS TO DRIVE DEMAND114
TABLE 35METAVERSE IN HEALTHCARE MARKET FOR HEALTHCARE PAYERS, BY COUNTRY, 2021–2028 (USD MILLION)115
10.4PHARMACEUTICAL, BIOPHARMACEUTICAL, AND MEDTECH COMPANIES115
10.4.1ENHANCED CLINICAL TRIALS AND BETTER COLLABORATION AND COMMUNICATION TO DRIVE GROWTH115
TABLE 36METAVERSE IN HEALTHCARE MARKET FOR PHARMACEUTICAL, BIOPHARMACEUTICAL, AND MEDTECH COMPANIES, BY COUNTRY, 2021–2028 (USD MILLION)116
10.5PATIENTS117
10.5.1INCREASED ACCESS TO CARE AND IMPROVED PATIENT OUTCOMES TO SUPPORT MARKET GROWTH117
TABLE 37METAVERSE IN HEALTHCARE MARKET FOR PATIENTS, BY COUNTRY, 2021–2028 (USD MILLION)117
10.6OTHER END USERS118
TABLE 38METAVERSE IN HEALTHCARE MARKET FOR OTHER END USERS, BY COUNTRY, 2021–2028 (USD MILLION)119
11METAVERSE IN HEALTHCARE MARKET, BY REGION120
11.1INTRODUCTION121
TABLE 39METAVERSE IN HEALTHCARE MARKET, BY REGION, 2021–2028 (USD MILLION)121
11.2NORTH AMERICA121
11.2.1NORTH AMERICA: IMPACT OF RECESSION ON METAVERSE IN HEALTHCARE MARKET121
FIGURE 22NORTH AMERICA: METAVERSE IN HEALTHCARE MARKET SNAPSHOT122
TABLE 40NORTH AMERICA: METAVERSE IN HEALTHCARE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)123
TABLE 41NORTH AMERICA: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)123
TABLE 42NORTH AMERICA: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)124
TABLE 43NORTH AMERICA: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)124
TABLE 44NORTH AMERICA: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)125
11.2.2US125
11.2.2.1Increasing adoption of healthcare technologies to drive growth125
TABLE 45US: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)125
TABLE 46US: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)126
TABLE 47US: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)126
TABLE 48US: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)127
11.2.3CANADA127
11.2.3.1Increasing focus on patient-centric care to support growth127
TABLE 49CANADA: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)128
TABLE 50CANADA: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)128
TABLE 51CANADA: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)129
TABLE 52CANADA: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)129
11.3EUROPE130
11.3.1EUROPE: IMPACT OF RECESSION ON METAVERSE IN HEALTHCARE MARKET130
TABLE 53EUROPE: METAVERSE IN HEALTHCARE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)130
TABLE 54EUROPE: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)131
TABLE 55EUROPE: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)131
TABLE 56EUROPE: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)132
TABLE 57EUROPE: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)132
11.3.2UK133
11.3.2.1Recent technological advancements and focus on better patient outcomes to drive growth133
TABLE 58UK: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)133
TABLE 59UK: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)134
TABLE 60UK: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)134
TABLE 61UK: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)135
11.3.3GERMANY135
11.3.3.1Increasing number of AR/VR start-ups to boost growth135
TABLE 62GERMANY: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)136
TABLE 63GERMANY: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)136
TABLE 64GERMANY: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)137
TABLE 65GERMANY: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)137
11.3.4REST OF EUROPE137
TABLE 66REST OF EUROPE: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)138
TABLE 67REST OF EUROPE: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)138
TABLE 68REST OF EUROPE: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)139
TABLE 69REST OF EUROPE: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)139
11.4ASIA PACIFIC140
11.4.1ASIA PACIFIC: IMPACT OF RECESSION ON METAVERSE IN HEALTHCARE MARKET140
FIGURE 23ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET SNAPSHOT141
TABLE 70ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)142
TABLE 71ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)142
TABLE 72ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)143
TABLE 73ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)143
TABLE 74ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)144
11.4.2CHINA144
11.4.2.1Presence of large consumer base and increasing demand for quality healthcare to boost growth144
TABLE 75CHINA: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)145
TABLE 76CHINA: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)145
TABLE 77CHINA: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)146
TABLE 78CHINA: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)146
11.4.3JAPAN146
11.4.3.1Adoption of wireless technology and government support to drive growth146
TABLE 79JAPAN: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)147
TABLE 80JAPAN: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)147
TABLE 81JAPAN: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)148
TABLE 82JAPAN: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)148
11.4.4REST OF ASIA PACIFIC149
TABLE 83REST OF ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)149
TABLE 84REST OF ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)150
TABLE 85REST OF ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)150
TABLE 86REST OF ASIA PACIFIC: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)151
11.5LATIN AMERICA151
11.5.1LATIN AMERICA: IMPACT OF RECESSION ON METAVERSE IN HEALTHCARE MARKET151
TABLE 87LATIN AMERICA: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)152
TABLE 88LATIN AMERICA: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)152
TABLE 89LATIN AMERICA: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)153
TABLE 90LATIN AMERICA: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)153
11.6MIDDLE EAST AND AFRICA154
11.6.1INVESTMENTS IN DIGITAL TECHNOLOGIES TO SUPPORT GROWTH154
11.6.2MIDDLE EAST & AFRICA: RECESSION IMPACT ON METAVERSE IN HEALTHCARE MARKET154
TABLE 91MIDDLE EAST & AFRICA: METAVERSE IN HEALTHCARE MARKET, BY COMPONENT, 2021–2028 (USD MILLION)155
TABLE 92MIDDLE EAST & AFRICA: METAVERSE IN HEALTHCARE MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)155
TABLE 93MIDDLE EAST & AFRICA: METAVERSE IN HEALTHCARE MARKET, BY APPLICATION, 2021–2028 (USD MILLION)156
TABLE 94MIDDLE EAST & AFRICA: METAVERSE IN HEALTHCARE MARKET, BY END USER, 2021–2028 (USD MILLION)156
12COMPETITIVE LANDSCAPE157
12.1OVERVIEW157
12.2KEY STRATEGIES/RIGHT TO WIN157
TABLE 95OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN METAVERSE IN HEALTHCARE MARKET157
FIGURE 24KEY DEVELOPMENTS OF MAJOR PLAYERS BETWEEN JANUARY 2020 AND MARCH 2023160
12.3REVENUE SHARE ANALYSIS OF TOP MARKET PLAYERS161
FIGURE 25METAVERSE IN HEALTHCARE MARKET: REVENUE SHARE ANALYSIS OF KEY PLAYERS161
12.4METAVERSE IN HEALTHCARE MARKET: R&D EXPENDITURE161
FIGURE 26R&D EXPENDITURE OF KEY PLAYERS (2021 VS. 2022)161
12.5MARKET RANKING ANALYSIS162
FIGURE 27METAVERSE IN HEALTHCARE MARKET RANKING ANALYSIS OF KEY PLAYERS (2022)162
12.6COMPETITIVE BENCHMARKING164
TABLE 96FOOTPRINT OF COMPANIES IN METAVERSE IN HEALTHCARE MARKET164
TABLE 97PRODUCT/SERVICE FOOTPRINT OF COMPANIES (25 COMPANIES)165
TABLE 98TECHNOLOGY FOOTPRINT OF COMPANIES (25 COMPANIES)166
TABLE 99REGIONAL FOOTPRINT OF COMPANIES (25 COMPANIES)167
12.7COMPANY EVALUATION MATRIX168
12.7.1STARS168
12.7.2EMERGING LEADERS168
12.7.3PERVASIVE PLAYERS168
12.7.4PARTICIPANTS168
FIGURE 28METAVERSE IN HEALTHCARE MARKET: COMPANY EVALUATION MATRIX FOR KEY PLAYERS (2022)169
12.8COMPANY EVALUATION MATRIX FOR START-UPS/SMES169
12.8.1PROGRESSIVE COMPANIES169
12.8.2DYNAMIC COMPANIES170
12.8.3RESPONSIVE COMPANIES170
12.8.4STARTING BLOCKS170
FIGURE 29METAVERSE IN HEALTHCARE MARKET: COMPANY EVALUATION MATRIX FOR START-UPS/SMES (2022)170
12.9COMPETITIVE SCENARIO171
12.9.1PRODUCT/SERVICE LAUNCHES & APPROVALS171
TABLE 100PRODUCT/SERVICE LAUNCHES & APPROVALS, JANUARY 2020–MARCH 2023171
12.9.2DEALS172
TABLE 101DEALS, JANUARY 2020–MARCH 2023172
13COMPANY PROFILES173
13.1KEY PLAYERS173
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1.1MICROSOFT173
TABLE 102MICROSOFT: BUSINESS OVERVIEW173
FIGURE 30MICROSOFT: COMPANY SNAPSHOT (2022)174
13.1.2NVIDIA CORPORATION177
TABLE 103NVIDIA CORPORATION: BUSINESS OVERVIEW177
FIGURE 31NVIDIA CORPORATION: COMPANY SNAPSHOT (2022)178
13.1.3KONINKLIJKE PHILIPS N.V.182
TABLE 104KONINKLIJKE PHILIPS N.V.: BUSINESS OVERVIEW182
FIGURE 32KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT (2022)183
13.1.4CAE INC.186
TABLE 105CAE INC.: BUSINESS OVERVIEW186
FIGURE 33CAE INC.: COMPANY SNAPSHOT (2022)187
13.1.5XRHEALTH189
TABLE 106XRHEALTH: BUSINESS OVERVIEW189
13.1.6IMMERSIVETOUCH, INC.191
TABLE 107IMMERSIVETOUCH, INC.: BUSINESS OVERVIEW191
13.1.7WIPRO193
TABLE 108WIPRO: BUSINESS OVERVIEW193
FIGURE 34WIPRO: COMPANY SNAPSHOT (2022)194
13.1.8SIEMENS HEALTHINEERS AG196
TABLE 109SIEMENS HEALTHINEERS AG: BUSINESS OVERVIEW196
FIGURE 35SIEMENS HEALTHINEERS AG: COMPANY SNAPSHOT (2022)197
13.1.9MEDTRONIC PLC199
TABLE 110MEDTRONIC PLC: BUSINESS OVERVIEW199
FIGURE 36MEDTRONIC PLC: COMPANY SNAPSHOT (2022)200
13.1.10GE HEALTHCARE202
TABLE 111GE HEALTHCARE: BUSINESS OVERVIEW202
FIGURE 37GE HEALTHCARE: COMPANY SNAPSHOT (2022)203
13.1.11INTUITIVE SURGICAL, INC.205
TABLE 112INTUITIVE SURGICAL, INC.: BUSINESS OVERVIEW205
FIGURE 38INTUITIVE SURGICAL, INC.: COMPANY SNAPSHOT (2022)206
13.1.12BRAINLAB AG208
TABLE 113BRAINLAB AG: BUSINESS OVERVIEW208
13.1.13NOVARAD CORPORATION211
TABLE 114NOVARAD CORPORATION: COMPANY OVERVIEW211
13.1.14OODLES TECHNOLOGIES213
TABLE 115OODLES TECHNOLOGIES: COMPANY OVERVIEW213
13.1.15CMR SURGICAL214
TABLE 116CMR SURGICAL: COMPANY OVERVIEW214
13.1.16MERATIVE217
TABLE 117MERATIVE: COMPANY OVERVIEW217
13.1.17WORLDVIZ, INC.219
TABLE 118WORLDVIZ, INC.: BUSINESS OVERVIEW219
13.1.18GOOGLE220
TABLE 119GOOGLE: BUSINESS OVERVIEW220
FIGURE 39GOOGLE: COMPANY SNAPSHOT (2022)221
13.1.19OCULUS (META PLATFORMS)223
TABLE 120OCULUS (META PLATFORMS): BUSINESS OVERVIEW223
13.1.20MINDMAZE225
TABLE 121MINDMAZE: BUSINESS OVERVIEW225
 
13.2OTHER PLAYERS227
13.2.1AUGMEDICS227
13.2.2ACCUVEIN, INC.227
13.2.3EON REALITY228
13.2.4BIOFLIGHTVR228
13.2.58CHILI, INC.229
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14APPENDIX230
14.1DISCUSSION GUIDE230
14.2KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL234
14.3CUSTOMIZATION OPTIONS236
14.4RELATED REPORTS236
14.5AUTHOR DETAILS237