Metaverse technologies are increasingly used in the healthcare sector. With the power of augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and mixed reality (MR), healthcare professionals can devise innovative strategies to serve patients better and optimize clinical operations.
According to a research report by Spherical Insights, the global Metaverse in healthcare market was valued at $8.97 billion in 2023, with a potential annual growth rate of 49.3% on average. Analysts estimate the healthcare Metaverse market will exceed $496.26 billion in 2033.
Several other analyst firms aren’t as optimistic in their forecasts. Towards Healthcare research predicts a 26.3% annual growth rate for the global Metaverse in healthcare market. The compound annual growth rate (CAGR) of the Metaverse healthcare industry is estimated at 34.1% by analysts from Research and Markets.
All researchers agree on the main drivers of industry growth, namely:
- the use of Metaverse technologies for remote consultations with medical professionals;
- the spread of telemedicine;
- the ability to comply with social distancing norms during the pandemic;
- the possibility of using the immersive method of examining pathologies and traumas to diagnose diseases and select optimal treatment;
- the use of virtual (VR) and augmented (AR) reality technologies to train medical professionals;
- doctors can share their experiences by attending virtual medical congresses and educational lectures.
Analysts also concur on the factors holding back the development of medical Metaverses. Among them are:
- low levels of data security;
- the need for significant financial investments for development;
- limited software and hardware;
- difficulty in certifying the use of Metaverse technologies.
The reports also highlighted the strong interest of large tech companies in developing health and medical-related Metaverses. Industry giants Meta, Microsoft, Google, and Nvidia were mentioned in each research report. North America was named the most active region for expanding medical Metaverses.
In 2022, the UAE opened the first virtual hospital. Since then, Metaverse technologies have been actively implemented in various healthcare sectors.
