Average Mkt Cap
#29 of 49
$12 B
Highest CAGR
#4 of 49
30 %
Virtual reality can be used to distract patients during painful procedures like chemotherapy or wound care, reducing the need for sedatives or analgesics. VR can also be used for training providers, simulating medical scenarios and procedures in a safe and controlled environment. The use of VR in is still in its early stages, but its potential for improving patient outcomes and provider training is significant.
0 FDA approvals in Virtual Reality (VR)
Pain Management
"Virtual reality has been shown to be an effective tool for managing pain in a variety of contexts, including during medical procedures and for chronic pain management." - Journal of Pain Research, December 2021
Training and Education
"Virtual reality can be used for training professionals, providing hands-on experience in simulated environments." - Healthcare Innovation, January 2022
Mental Health
"Virtual reality has shown promise in treating a variety of mental conditions, including anxiety disorders, PTSD, and depression." - Frontiers in Psychology, February 2022
Investor sentiment
Global Market InsightsFebruary 2021
"...The global virtual reality in market size was valued at over $1.5 billion in 2020 and is expected to grow at a CAGR of over 25.5% from 2021 to 2027, driven by the increasing adoption of VR technologies in medical training and education, the rising demand for VR-based therapies and treatments, and the growing use of VR for pain management and rehabilitation."
MarketsandMarketsApril 2020
"...The global virtual reality and augmented reality market is expected to grow at a CAGR of 36.6% from 2020 to 2025, driven by the increasing adoption of VR and AR technologies in medical training and education, the growing demand for VR-based therapies and treatments, and the rising use of VR and AR for pain management and rehabilitation."
Sector leaders
Pear Therapeutics
Pear Therapeutics, a Boston-based maker of digital therapeutics, raised $80 million in a new funding round. They launched a VR-based software product, which helps patients recover from addiction and substance abuse disorders. They aim to provide access to help for substance abuse and addiction in more convenient and engaging ways.
Osso VR
Osso VR is a leading VR surgical training platform. It has announced a new partnership with UCLA Health to accelerate the delivery of innovative training experiences for surgeons. The platform is accessible, portable, and engaging, so it has become the most popular training tool used for surgical procedures, anatomy and device education, and customer education and training. The company aims to provide better patient outcomes by revolutionizing the way surgeons learn.
InContext Solutions
InContext Solutions, a provider of cloud-based VR solutions, has been acquired by Verisk, a data analytics provider. InContext Solutions' VR-based platform will enable Verisk to further expand its risk assessment and management services to new industries, including healthcare. The platform will help companies improve patient experiences and deliver more efficient care through the power of VR technology.
