Metaverse in Healthcare Global Market Report 2024

The metaverse in healthcare market size has grown exponentially in recent years. It will grow from $10.28 billion in 2023 to $13.79 billion in 2024 at a compound annual growth rate (CAGR) of 34.1%. The expansion observed in the historical period can be attributed to increased emphasis on medical training and simulation, the rise in telemedicine and virtual consultations, enhanced patient engagement and education, the incorporation of gamification in healthcare, and the response to global health crises.

The metaverse in healthcare market size is expected to see exponential growth in the next few years. It will grow to $44.44 billion in 2028 at a compound annual growth rate (CAGR) of 34.0%. The anticipated growth in the forecast period can be attributed to the expansion of virtual clinical trials, the development of virtual therapeutics, a focus on accessibility and inclusivity in healthcare, the promotion of personalized healthcare experiences, and increased market penetration in developing regions. Major trends expected in the forecast period include the application of digital twin technology in healthcare, integration with wearable devices, the incorporation of virtual reality (VR) technology, the use of blockchain for data security, and collaborations between the technology and healthcare industries.

The anticipated surge in telemedicine adoption is set to drive the global healthcare in the metaverse market forward. Telemedicine provides accurate and prompt healthcare advice that was traditionally sought from in-person visits to a doctor. The relevance of telemedicine becomes crucial during pandemics to prevent infections from spreading in waiting rooms, leading to an increasing demand for metaverse technologies in telemedicine. For instance, in July 2021, as reported by the Health Management Organization, only 11% of Americans utilized telemedicine before the COVID-19 pandemic, but the figure has risen to 76% due to increased public awareness of the rapid spread of illnesses. Telehealth usage has witnessed a staggering surge of over 6,000% in the last year, and the market for telehealth services is expected to grow by another 28% by 2026. Consequently, the rising popularity of telemedicine globally is a driving force for the metaverse in the healthcare market.

The growing prevalence of chronic diseases is expected to fuel the growth of the metaverse in healthcare market. Chronic diseases, lasting a year or longer and requiring ongoing medical care, significantly impact daily activities. Examples include heart disease, cancer, obesity, and diabetes. The metaverse plays a crucial role in chronic disease management by offering immersive tools for patient education, personalized interventions, and remote monitoring to enhance treatment plan adherence and overall health outcomes. According to the National Center for Biotechnology Information (NCBI), it is projected that by 2050, the number of individuals aged 50 years and older with at least one chronic illness will increase by 99.5%, reaching 142.66 million. Thus, the rising prevalence of chronic diseases is a key driver for the growth of the metaverse in the healthcare market.

A notable trend gaining momentum in the metaverse in healthcare market is product innovation. Major companies in the market are actively pursuing next-generation technologies and innovations to advance the metaverse in healthcare. For instance, in December 2022, GOQii, an Indian fitness technology company, introduced a fusion of the company's metaverse and preventative healthcare. This Web3-based health technology aims to motivate users to achieve fitness and health goals by integrating physical health and fitness into the digital environment. The platform has been launched in the UAE and is set to expand to India, the United Kingdom, and Japan in the coming months. The collaboration with the Harley International Medical Clinic enables users to create virtual avatars, providing a unique and engaging way to digitally age while maintaining a healthier lifestyle.

Major companies in the metaverse in healthcare market are increasingly focusing on introducing personalized virtual features to gain a competitive edge. Personalized virtual features involve customized elements within a virtual environment or digital platform. For example, in February 2023, Indegene, an India-based life sciences commercialization company, launched Metaverse capabilities aimed at helping life sciences companies create immersive healthcare experiences using metaverse technology. These capabilities are designed to offer personalized, scalable, and omnichannel experiences for patients and physicians, allowing interaction with healthcare professionals in virtual medical congresses, attending virtual educational lectures, and connecting in virtual patient hubs.

In February 2022, Apollo Hospitals Group, a multinational healthcare group based in India, collaborated with 8chili Inc., a US-based MedTech startup, to enable involvement in the metaverse through a pioneering initiative. The immersive experience provided by virtual reality has shown to enhance patient engagement and skill acquisition for practical training. The introduction of virtual reality environments with calming 'narratives' can empower individuals to control their own body and physiological responses, improving patient counseling pre/post-operation in virtual reality. 8chili, as a MedTech startup, is focused on shaping the future of surgical training and remote collaboration.

Major companies operating in the metaverse in healthcare market report are Brainlab AG, PlushCare, BioFlight VR, Siemens Healthineers, Meta Platforms Inc., Novarad Corporation, Nvidia Corporation, Microsoft Corporation, Roblox Corporation, GE Healthcare, Medtronic PLC, Google LLC, Wipro Ltd., Global Healthcare Academy, 3D Systems Corp., AccuVein Inc., Vuzix, Magic Leap, zSpace Inc, VirtaMed, Virtually Better, EchoPixel Inc, InfiVR, Intuitive Surgical Inc., CableLabs, Augmedics, Immersive Touch, Chill Inc., Medical Realities Ltd., Sesame Care, Aimedis B.V., ARBREA LABS, Veyond Metaverse, GameChange VR.

North America was the largest region in the metaverse in healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the metaverse in healthcare market during the forecast period. The regions covered in the metaverse in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metaverse in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main components of a metaverse in healthcare are software and hardware. The software includes applications, scripts, and programs running on devices intended for outpatient use, qualified to assist medical practices in obtaining meaningful use certification. Various technologies involved are augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and mixed reality (MR). The devices include VR headsets, AR devices, and mixed reality platforms. These technologies find applications in various sectors such as medical training and education modules, diagnosis, treatment, designing operating rooms, surgical training, remote monitoring, and others.

The metaverse in healthcare market research report is one of a series of new reports that provides metaverse in healthcare market statistics, including metaverse in healthcare industry global market size, regional shares, competitors with a metaverse in healthcare market share, detailed metaverse in healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the metaverse in the healthcare industry. This metaverse in healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.