June 25, 2024

Metaverse in Surgical Operations Market Poised to Exceed $73.37 Bn By 2032

The global Metaverse in surgical operations market size was estimated to be around US$ 6.28  billion in 2023. It is projected to reach US$ 73.37 billion by 2032, indicating a CAGR of 31.40% from 2023 to 2032.

Metaverse in Surgical Operations Market Size 2023 To 2032

Key Takeaways

  • North America contributed more than 42% 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 62% in 2022.
  • By component, the software segment is anticipated to grow at a remarkable CAGR of 32.5% between 2023 and 2032.
  • By application, the surgical training segment generated over 49% of revenue share in 2022.
  • By application, the telesurgery segment is expected to expand at the fastest CAGR over the projected period.
  • By technology, the Virtual Reality (VR) segment has held the largest market share of 52% in 2022.
  • By technology, the Augmented Reality (AR) segment is expected to expand at the fastest CAGR over the projected period.
  • By end-user, the hospitals and surgical centers segment had the largest market share of 49% in 2022.
  • By end-user, the medical training institutes segment is expected to expand at the fastest CAGR over the projected period.

The Metaverse in Surgical Operations market is rapidly gaining traction as technological advancements continue to reshape the landscape of healthcare. The integration of metaverse technologies into surgical procedures holds great promise, offering enhanced training for medical professionals, improved surgical planning, and innovative solutions for patient care. One of the key growth factors is the immersive and interactive nature of the metaverse, providing surgeons with realistic simulations to refine their skills and enhance their decision-making abilities.

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Growth Factors

The increasing demand for precision and efficiency in surgical operations further propels the growth of this market. Metaverse applications offer surgeons a virtual environment to practice complex procedures, reducing the risk associated with real-life surgeries and ultimately improving patient outcomes. Additionally, the metaverse’s ability to facilitate collaboration among healthcare professionals globally contributes to a collective knowledge pool, fostering continuous advancements in surgical techniques and methodologies.

Moreover, the market is driven by the rising adoption of augmented reality (AR) and virtual reality (VR) technologies in the healthcare sector. These technologies play a pivotal role in creating immersive and lifelike simulations, enabling surgeons to navigate complex anatomical structures and practice intricate procedures. As metaverse solutions become more sophisticated, the potential for remote surgery and telemedicine is expanding, allowing experts to remotely guide and assist in surgeries, particularly in underserved areas.

Metaverse in Surgical Operations Market Scope

Report Coverage Details
Growth Rate from 2023 to 2032 CAGR of 31.40%
Market Size in 2023 USD 6.28 Billion
Market Size by 2032 USD 73.37 Billion
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Component, By Application, By Technology, and By End User
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read More: Pentane Market Size To Reach USD 177.34 Billion By 2032

Component:

The market components encompass a diverse range of elements crucial to the Metaverse in Surgical Operations. This includes hardware components like immersive displays, haptic feedback devices, and motion sensors. Software components play a pivotal role, including Virtual Reality (VR) and Augmented Reality (AR) platforms, simulation software, and collaborative tools designed specifically for surgical applications.

Application:

Applications within the Metaverse in Surgical Operations Market are multifaceted, addressing various needs in the medical field. Virtual Surgical Planning (VSP) applications stand out, aiding surgeons in meticulous pre-operative planning and simulation. Surgical Training Simulations offer a virtual environment for skill development and continuous training. Telemedicine applications leverage augmented reality for remote consultations and collaborations, providing a platform for experts to contribute insights and guidance during surgical procedures.

Technology:

The technological facets of the Metaverse in Surgical Operations Market include advanced features that drive the immersive experience. This comprises Virtual Reality (VR) technology for creating realistic surgical simulations, Augmented Reality (AR) for overlaying digital information onto the real-world surgical environment, and Mixed Reality (MR) for a seamless integration of virtual and physical elements during surgery. Additionally, haptic feedback technology enhances the tactile sensation, further refining the surgical experience.

End User:

End-users in the Metaverse in Surgical Operations Market span the healthcare ecosystem. Hospitals and surgical centers are primary adopters, integrating Metaverse technologies into their surgical workflows. Medical training institutions leverage these solutions for educating and training the next generation of healthcare professionals. Pharmaceutical companies may utilize virtual environments for drug development and testing. Moreover, the Metaverse in Surgical Operations finds applications in research institutions and collaborations between healthcare professionals globally, fostering knowledge exchange and expertise sharing.

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Metaverse in Surgical Operations Market Players

  • Intuitive Surgical, Inc.
  • Medtronic Plc
  • Siemens Healthineers AG
  • Microsoft Corporation
  • Novartis International AG
  • Koninklijke Philips N.V.
  • Smith & Nephew Plc
  • Immersion Corporation
  • Hologic, Inc.
  • CAE Healthcare
  • VirtaMed AG
  • Touch Surgery
  • Osso VR
  • FundamentalVR

Segments Covered in the Report

By Component

  • Hardware
  • Software
  • Service

By Application

  • Surgical Training
  • Telesurgery
  • Preoperative Planning
  • Others

By Technology

  • Virtual Reality (VR)
  • Augmented Reality (AR)
  • Mixed Reality (MR)

By End User

  • Hospitals and Surgical Centers
  • Medical Training Institutes
  • Telemedicine Providers

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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 Surgical Operations Market 

5.1. COVID-19 Landscape: Metaverse in Surgical Operations 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 Surgical Operations Market, By Component

8.1. Metaverse in Surgical Operations Market, by Component, 2023-2032

8.1.1. Hardware

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Software

8.1.2.1. Market Revenue and Forecast (2020-2032)

8.1.3. Service

8.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Metaverse in Surgical Operations Market, By Application

9.1. Metaverse in Surgical Operations Market, by Application, 2023-2032

9.1.1. Surgical Training

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Telesurgery

9.1.2.1. Market Revenue and Forecast (2020-2032)

9.1.3. Preoperative Planning

9.1.3.1. Market Revenue and Forecast (2020-2032)

9.1.4. Others

9.1.4.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Metaverse in Surgical Operations Market, By Technology 

10.1. Metaverse in Surgical Operations Market, by Technology, 2023-2032

10.1.1. Virtual Reality (VR)

10.1.1.1. Market Revenue and Forecast (2020-2032)

10.1.2. Augmented Reality (AR)

10.1.2.1. Market Revenue and Forecast (2020-2032)

10.1.3. Mixed Reality (MR)

10.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 11. Global Metaverse in Surgical Operations Market, By End User 

11.1. Metaverse in Surgical Operations Market, by End User, 2023-2032

11.1.1. Hospitals and Surgical Centers

11.1.1.1. Market Revenue and Forecast (2020-2032)

11.1.2. Medical Training Institutes

11.1.2.1. Market Revenue and Forecast (2020-2032)

11.1.3. Telemedicine Providers

11.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 12. Global Metaverse in Surgical Operations 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 Application (2020-2032)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Chapter 13. Company Profiles

13.1. Intuitive Surgical, Inc.

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Medtronic Plc

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Siemens Healthineers AG

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Microsoft Corporation

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Novartis International AG

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Koninklijke Philips N.V.

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Smith & Nephew Plc

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Immersion Corporation

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Hologic, Inc.

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. CAE Healthcare

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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