June 13, 2024

Metaverse In Medical Training Market Size, Share, Report 2032

The global metaverse in medical training market size reached  USD 2.60 billion in 2023 and is projected to grow around USD 18.71 billion by 2032,  at a CAGR of 24.50% during the forecast period from 2023 to 2032.

Metaverse in Medical Training Market Size 2023 To 2032

Key Takeaways

  • North America contributed more than 37% of revenue share in 2022.
  • Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
  • By component, the hardware segment has held the largest market share of 68% in 2022.
  • By component, the software segment is anticipated to grow at a remarkable CAGR of 26.3% between 2023 and 2032.
  • By technology, the VR segment generated over 48% of revenue share in 2022.
  • By technology, the AR segment is expected to expand at the fastest CAGR over the projected period.
  • By device, the VR headsets segment generated over 46% of revenue share in 2022.
  • By device, the mixed reality platforms segment is expected to expand at the fastest CAGR over the projected period.
  • By end-user, the medical schools and universities segment had the largest market share of 41% in 2022.
  • By end-user, the hospitals and healthcare institutions segment is expected to expand at the fastest CAGR over the projected period.

The integration of the metaverse into medical training has marked a revolutionary advancement in the healthcare industry. The Metaverse in Medical Training Market is witnessing unprecedented growth, with virtual environments providing immersive and realistic simulations for medical professionals. This dynamic technology transcends traditional learning methods, offering an interactive platform that enhances hands-on experience and decision-making skills in a risk-free digital space.

Growth Factors:

The growth of the Metaverse in Medical Training Market can be attributed to several key factors. Firstly, the demand for realistic training scenarios to prepare healthcare professionals for complex and high-stakes situations has driven the adoption of metaverse technologies. Additionally, the accessibility and scalability of virtual training platforms have made it feasible to reach a broader audience of medical students and practitioners globally. The continuous advancements in augmented reality (AR) and virtual reality (VR) technologies further contribute to the expansion of this market, providing increasingly sophisticated and lifelike medical simulations. As the healthcare industry continues to recognize the value of immersive training experiences, the Metaverse in Medical Training Market is poised for sustained growth and innovation.

Metaverse in Medical Training Market Scope

Report Coverage Details
Growth Rate from 2023 to 2032 CAGR of 24.50%
Market Size in 2023 USD 2.60 Billion
Market Size by 2032 USD 18.71 Billion
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Component, By Technology, By Devices, and By End User
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read Also: Polyester Fiber Market Size To Hit USD 158.70 Billion by 2032

By Component

  • Software
  • Hardware

The Metaverse in Medical Training Market is segmented by various components, technologies, devices, and end-users, contributing to its dynamic landscape and multifaceted applications. In terms of components, the market encompasses a diverse range, including hardware, software, and connectivity solutions. These components collectively form the foundation of the immersive medical training experience within the metaverse, enabling seamless interaction and engagement.

By Technology

  • AR
  • VR
  • AI
  • MR

In terms of technology, the market showcases a fusion of cutting-edge advancements. Augmented reality (AR), virtual reality (VR), and mixed reality (MR) technologies play pivotal roles in shaping the metaverse’s medical training landscape. These technologies provide a realistic and immersive environment, allowing medical professionals to simulate complex scenarios, surgeries, and medical procedures, fostering a hands-on learning experience.

By Devices

  • VR Headsets
  • AR Devices
  • Mixed Reality Platforms

The diversity of devices within the Metaverse in the Medical Training Market further enhances its accessibility and user experience. Wearables, virtual reality headsets, augmented reality glasses, and haptic feedback devices are among the key devices shaping this market. These devices not only facilitate a realistic simulation but also offer an interactive and tactile dimension, enriching the learning process for medical practitioners and students alike.

By End User

  • Medical Schools and Universities
  • Hospitals and Healthcare Institutions
  • Pharmaceutical Companies
  • Others

End-users constitute a crucial segment, delineating the beneficiaries of metaverse-based medical training solutions. Healthcare institutions, medical universities, training centers, and individual practitioners represent the spectrum of end-users tapping into the potential of the metaverse. The versatility of the metaverse caters to the diverse needs of medical professionals, from surgical training to patient interaction scenarios, fostering a comprehensive and adaptable training ecosystem.

Recent Developments

  • In 2023, NVIDIA Corporation (US) and Microsoft (US) joined forces to bridge Microsoft 365 apps with NVIDIA Omniverse. This collaboration aims to enable digital transformation, facilitate industrial metaverse integration, and empower the training of advanced generative AI models, among other applications.
  • In 2022, Ventyn enters the healthcare metaverse by coordination with 8chili HintVR virtual reality platform. This integration empowers care coordination, utilizing machine intelligence, virtual training, patient engagement, education, and health coaching. The convergence of 3D content and digital health apps expands the possibilities of healthcare innovation.
  • In 2022, GE Healthcare (US) partnered with MediviewXR (US) to co-create the OmnifyXR medical imaging system. This collaboration is dedicated to advancing medical imaging technology, potentially transforming how healthcare professionals interact with and utilize medical data for diagnosis and treatment.

Metaverse in Medical Training Market Players

  • Oculus VR, LLC
  • Osso VR
  • Touch Surgery
  • Medical Realities
  • Precision OS
  • FundamentalVR
  • VirtaMed
  • CAE Healthcare
  • 3D Systems Corporation
  • Medtronic
  • ImmersiveTouch Inc.
  • Microsoft Corporation
  • Samsung Electronics
  • Philips Healthcare
  • Surgical Science

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Metaverse in Medical Training Market 

5.1. COVID-19 Landscape: Metaverse in Medical Training Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Metaverse in Medical Training Market, By Component

8.1. Metaverse in Medical Training Market, by Component, 2023-2032

8.1.1. Software

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Hardware

8.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Metaverse in Medical Training Market, By Technology

9.1. Metaverse in Medical Training Market, by Technology, 2023-2032

9.1.1. AR

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. VR

9.1.2.1. Market Revenue and Forecast (2020-2032)

9.1.3. AI

9.1.3.1. Market Revenue and Forecast (2020-2032)

9.1.4. MR

9.1.4.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Metaverse in Medical Training Market, By Devices 

10.1. Metaverse in Medical Training Market, by Devices, 2023-2032

10.1.1. VR Headsets

10.1.1.1. Market Revenue and Forecast (2020-2032)

10.1.2. AR Devices

10.1.2.1. Market Revenue and Forecast (2020-2032)

10.1.3. Mixed Reality Platforms

10.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 11. Global Metaverse in Medical Training Market, By End User 

11.1. Metaverse in Medical Training Market, by End User, 2023-2032

11.1.1. Medical Schools and Universities

11.1.1.1. Market Revenue and Forecast (2020-2032)

11.1.2. Hospitals and Healthcare Institutions

11.1.2.1. Market Revenue and Forecast (2020-2032)

11.1.3. Pharmaceutical Companies

11.1.3.1. Market Revenue and Forecast (2020-2032)

11.1.4. Others

11.1.4.1. Market Revenue and Forecast (2020-2032)

Chapter 12. Global Metaverse in Medical Training Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Component (2020-2032)

12.1.2. Market Revenue and Forecast, by Technology (2020-2032)

12.1.3. Market Revenue and Forecast, by Devices (2020-2032)

12.1.4. Market Revenue and Forecast, by End User (2020-2032)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Component (2020-2032)

12.1.5.2. Market Revenue and Forecast, by Technology (2020-2032)

12.1.5.3. Market Revenue and Forecast, by Devices (2020-2032)

12.1.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Component (2020-2032)

12.1.6.2. Market Revenue and Forecast, by Technology (2020-2032)

12.1.6.3. Market Revenue and Forecast, by Devices (2020-2032)

12.1.6.4. Market Revenue and Forecast, by End User (2020-2032)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Component (2020-2032)

12.2.2. Market Revenue and Forecast, by Technology (2020-2032)

12.2.3. Market Revenue and Forecast, by Devices (2020-2032)

12.2.4. Market Revenue and Forecast, by End User (2020-2032)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Component (2020-2032)

12.2.5.2. Market Revenue and Forecast, by Technology (2020-2032)

12.2.5.3. Market Revenue and Forecast, by Devices (2020-2032)

12.2.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Component (2020-2032)

12.2.6.2. Market Revenue and Forecast, by Technology (2020-2032)

12.2.6.3. Market Revenue and Forecast, by Devices (2020-2032)

12.2.6.4. Market Revenue and Forecast, by End User (2020-2032)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Component (2020-2032)

12.2.7.2. Market Revenue and Forecast, by Technology (2020-2032)

12.2.7.3. Market Revenue and Forecast, by Devices (2020-2032)

12.2.7.4. Market Revenue and Forecast, by End User (2020-2032)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Component (2020-2032)

12.2.8.2. Market Revenue and Forecast, by Technology (2020-2032)

12.2.8.3. Market Revenue and Forecast, by Devices (2020-2032)

12.2.8.4. Market Revenue and Forecast, by End User (2020-2032)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Component (2020-2032)

12.3.2. Market Revenue and Forecast, by Technology (2020-2032)

12.3.3. Market Revenue and Forecast, by Devices (2020-2032)

12.3.4. Market Revenue and Forecast, by End User (2020-2032)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Component (2020-2032)

12.3.5.2. Market Revenue and Forecast, by Technology (2020-2032)

12.3.5.3. Market Revenue and Forecast, by Devices (2020-2032)

12.3.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Component (2020-2032)

12.3.6.2. Market Revenue and Forecast, by Technology (2020-2032)

12.3.6.3. Market Revenue and Forecast, by Devices (2020-2032)

12.3.6.4. Market Revenue and Forecast, by End User (2020-2032)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Component (2020-2032)

12.3.7.2. Market Revenue and Forecast, by Technology (2020-2032)

12.3.7.3. Market Revenue and Forecast, by Devices (2020-2032)

12.3.7.4. Market Revenue and Forecast, by End User (2020-2032)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Component (2020-2032)

12.3.8.2. Market Revenue and Forecast, by Technology (2020-2032)

12.3.8.3. Market Revenue and Forecast, by Devices (2020-2032)

12.3.8.4. Market Revenue and Forecast, by End User (2020-2032)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Component (2020-2032)

12.4.2. Market Revenue and Forecast, by Technology (2020-2032)

12.4.3. Market Revenue and Forecast, by Devices (2020-2032)

12.4.4. Market Revenue and Forecast, by End User (2020-2032)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Component (2020-2032)

12.4.5.2. Market Revenue and Forecast, by Technology (2020-2032)

12.4.5.3. Market Revenue and Forecast, by Devices (2020-2032)

12.4.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Component (2020-2032)

12.4.6.2. Market Revenue and Forecast, by Technology (2020-2032)

12.4.6.3. Market Revenue and Forecast, by Devices (2020-2032)

12.4.6.4. Market Revenue and Forecast, by End User (2020-2032)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Component (2020-2032)

12.4.7.2. Market Revenue and Forecast, by Technology (2020-2032)

12.4.7.3. Market Revenue and Forecast, by Devices (2020-2032)

12.4.7.4. Market Revenue and Forecast, by End User (2020-2032)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Component (2020-2032)

12.4.8.2. Market Revenue and Forecast, by Technology (2020-2032)

12.4.8.3. Market Revenue and Forecast, by Devices (2020-2032)

12.4.8.4. Market Revenue and Forecast, by End User (2020-2032)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Component (2020-2032)

12.5.2. Market Revenue and Forecast, by Technology (2020-2032)

12.5.3. Market Revenue and Forecast, by Devices (2020-2032)

12.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Component (2020-2032)

12.5.5.2. Market Revenue and Forecast, by Technology (2020-2032)

12.5.5.3. Market Revenue and Forecast, by Devices (2020-2032)

12.5.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Component (2020-2032)

12.5.6.2. Market Revenue and Forecast, by Technology (2020-2032)

12.5.6.3. Market Revenue and Forecast, by Devices (2020-2032)

12.5.6.4. Market Revenue and Forecast, by End User (2020-2032)

Chapter 13. Company Profiles

13.1. Oculus VR, LLC

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Osso VR

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Touch Surgery

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Medical Realities

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Precision OS

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. FundamentalVR

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. VirtaMed

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. CAE Healthcare

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. 3D Systems Corporation

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. Medtronic

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

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