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SOUTH KOREA VR IN HEALTHCARE MARKET FORECAST 2022-2028

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SOUTH KOREA VR IN HEALTHCARE MARKET FORECAST 2022-2028

The South Korea VR in healthcare market is estimated to grow at a CAGR of 31.34% during the forecasting years, reaching a revenue share of $43.01 million by 2028. The base year considered for the market studied is 2021, and the forecasted period is from 2022 to 2028.

SOUTH KOREA VR IN HEALTHCARE MARKET FORECAST 2022-2028

South Korea VR in Healthcare Market by End-user (Hospitals & Clinics, Research Laboratories, Others) Market by Application (Surgical Planning, Behavioral Neurology/rehabilitation, Pain Management, Other Applications) Market by Component (Hardware, Software) Market by Product Type (VR Semiconductor Components, VR Devices, VR Sensors, Others) Market by Technology (Head Mounted, Gesture Tracking, Projectors and Displays)

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The South Korea VR in healthcare market is estimated to grow at a CAGR of 31.34% during the forecasting years, reaching a revenue share of $43.01 million by 2028. The base year considered for the market studied is 2021, and the forecasted period is from 2022 to 2028.

South Korea VR in healthcare Market

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The increasing technological innovations and developments, in addition to the presence of well-established companies, are set to play a pivotal role in augmenting the market growth of the country.

Virtual reality (VR) utilizes computer technology to generate a simulated setting. Contrasting traditional user interfaces, virtual reality places the user inside an experience. As a result, users are immersed and can interact with 3D worlds instead of viewing a screen in front of them. Moreover, the technology simulates as many senses as possible, including vision, hearing, smell, and even touch.

South Korea is a pioneer in the avenue of technological innovations and advancements. However, the country is yet to witness prominent developments, such as those in Japan, thus opening South Korea to numerous expansion prospects. Moreover, several companies have their presence in the country, including Microsoft Corporation, Acer Inc, and Seiko Epson Corporation, among others.

On the other hand, a start-up based in South Korea raised nearly $4.2 million in order to develop as well as test its software treatments for neurological conditions following the launch of the first digital therapeutics clinical trial in the nation. Seoul-based Nunaps also plans to develop its platform while assessing Nunap Vision, its first product. It offers perception training through the use of a virtual reality headset. This would help treat visual field defects caused by brain damage, such as from strokes. Therefore, these factors are expected to augment the South Korea VR in healthcare market growth over the estimated period.

The South Korea VR in healthcare market is segmented into end-user, application, product type, component, and technology. The component category is further segmented into hardware and software. The growth of the hardware segment is predominantly fueled by the increasing number of VR-based hardware for rehabilitation and surgeries. These include head-mounted displays, sensors, motion sensors, and input devices. In this regard, Precision VR by surgical theater is a medical visualization platform. It delivers patient-specific VR reconstructions directly to the patient and helps educate them about their medical condition as well as upcoming procedures.

Conversely, specific software and programs develop VR and AR-based applications. As VR is a full-3D condition developed through the combination of software and programming components, it enables users to transition completely to the virtual world.

Prominent firms operating in the South Korea VR in healthcare market are Alphabet Inc (Google), Nunaps, Microsoft Corporation, Samsung, etc.

Sony Corporation, headquartered in Japan, is a designer, manufacturer, developer, and marketer of audio, imaging, video, game, information technology, and communications products. Catering to the industrial, consumer, and professional industries, the group operates in the entertainment, financial services, and electronics sectors. It also provides a wide range of products, such as mobile phones, accessories, tablets, applications, and portable game consoles.

The company’s NUCLeUS digital integrated OR solution, coupled with VR, is utilized to provide medical students with an immersive first-hand perspective of procedures without being present in the operating room.

Report Synopsis

Report Scope Details
Market Forecast Years 2022-2028
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million)
Segment Analyzed End-User, Application, Product Type, Component, and Technology
Country Analyzed South Korea
Companies Analyzed

Alphabet Inc (Google), Microsoft Corporation, Nunaps, Samsung, and LooxidLabs

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • COUNTRY SNAPSHOT
      • COUNTRY ANALYSIS
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
    3. KEY ANALYTICS
      • IMPACT OF COVID-19 ON SOUTH KOREA VR IN HEALTHCARE MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VALUE CHAIN ANALYSIS
    4. MARKET BY END-USER
      • HOSPITALS & CLINICS
      • RESEARCH LABORATORIES
      • OTHERS
    5. MARKET BY APPLICATION
      • SURGICAL PLANNING
      • BEHAVIORAL NEUROLOGY/REHABILITATION
      • PAIN MANAGEMENT
      • OTHER APPLICATIONS
    6. MARKET BY COMPONENT
      • HARDWARE
      • SOFTWARE
    7. MARKET BY PRODUCT TYPE
      • VR SEMICONDUCTOR COMPONENTS
      • VR DEVICES
      • VR SENSORS
      • OTHERS
    8. MARKET BY TECHNOLOGY
      • HEAD MOUNTED
      • GESTURE TRACKING
      • PROJECTORS AND DISPLAYS
    9. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS/DIVESTITURES
      • COMPANY PROFILES
        • ALPHABET INC (GOOGLE)
        • LOOXIDLABS
        • MICROSOFT CORPORATION
        • NUNAPS
        • SAMSUNG

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – SOUTH KOREA VR IN HEALTHCARE

    TABLE 2: SOUTH KOREA VR IN HEALTHCARE MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 3: SOUTH KOREA VR IN HEALTHCARE MARKET, BY END-USER, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 4: SOUTH KOREA VR IN HEALTHCARE MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 5: SOUTH KOREA VR IN HEALTHCARE MARKET, BY APPLICATION, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 6: SOUTH KOREA VR IN HEALTHCARE MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 7: SOUTH KOREA VR IN HEALTHCARE MARKET, BY COMPONENT, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 8: SOUTH KOREA VR IN HEALTHCARE MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 9: SOUTH KOREA VR IN HEALTHCARE MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 10: SOUTH KOREA VR IN HEALTHCARE MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 11: SOUTH KOREA VR IN HEALTHCARE MARKET, BY TECHNOLOGY, FORECAST YEARS, 2022-2028 (IN $ MILLION)                        

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VALUE CHAIN ANALYSIS

    FIGURE 5: SOUTH KOREA VR IN HEALTHCARE MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

    FIGURE 6: SOUTH KOREA VR IN HEALTHCARE MARKET, BY HOSPITALS & CLINICS, 2022-2028 (IN $ MILLION)

    FIGURE 7: SOUTH KOREA VR IN HEALTHCARE MARKET, BY RESEARCH LABORATORIES, 2022-2028 (IN $ MILLION)

    FIGURE 8: SOUTH KOREA VR IN HEALTHCARE MARKET, BY OTHERS, 2022-2028 (IN $ MILLION)

    FIGURE 9: SOUTH KOREA VR IN HEALTHCARE MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021

    FIGURE 10: SOUTH KOREA VR IN HEALTHCARE MARKET, BY SURGICAL PLANNING, 2022-2028 (IN $ MILLION)

    FIGURE 11: SOUTH KOREA VR IN HEALTHCARE MARKET, BY BEHAVIORAL NEUROLOGY/REHABILITATION, 2022-2028 (IN $ MILLION)

    FIGURE 12: SOUTH KOREA VR IN HEALTHCARE MARKET, BY PAIN MANAGEMENT, 2022-2028 (IN $ MILLION)

    FIGURE 13: SOUTH KOREA VR IN HEALTHCARE MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)

    FIGURE 14: SOUTH KOREA VR IN HEALTHCARE MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2021

    FIGURE 15: SOUTH KOREA VR IN HEALTHCARE MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)

    FIGURE 16: SOUTH KOREA VR IN HEALTHCARE MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)

    FIGURE 17: SOUTH KOREA VR IN HEALTHCARE MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2021

    FIGURE 18: SOUTH KOREA VR IN HEALTHCARE MARKET, BY VR SEMICONDUCTOR COMPONENTS, 2022-2028 (IN $ MILLION)

    FIGURE 19: SOUTH KOREA VR IN HEALTHCARE MARKET, BY VR DEVICES, 2022-2028 (IN $ MILLION)

    FIGURE 20: SOUTH KOREA VR IN HEALTHCARE MARKET, BY VR SENSORS, 2022-2028 (IN $ MILLION)

    FIGURE 21: SOUTH KOREA VR IN HEALTHCARE MARKET, BY OTHERS, 2022-2028 (IN $ MILLION)

    FIGURE 22: SOUTH KOREA VR IN HEALTHCARE MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2021

    FIGURE 23: SOUTH KOREA VR IN HEALTHCARE MARKET, BY HEAD MOUNTED, 2022-2028 (IN $ MILLION)

    FIGURE 24: SOUTH KOREA VR IN HEALTHCARE MARKET, BY GESTURE TRACKING, 2022-2028 (IN $ MILLION)

    FIGURE 25: SOUTH KOREA VR IN HEALTHCARE MARKET, BY PROJECTORS AND DISPLAYS, 2022-2028 (IN $ MILLION)       

    1. MARKET BY END-USER
      • HOSPITALS & CLINICS
      • RESEARCH LABORATORIES
      • OTHERS
    2. MARKET BY APPLICATION
      • SURGICAL PLANNING
      • BEHAVIORAL NEUROLOGY/REHABILITATION
      • PAIN MANAGEMENT
      • OTHER APPLICATIONS
    3. MARKET BY COMPONENT
      • HARDWARE
      • SOFTWARE
    4. MARKET BY PRODUCT TYPE
      • VR SEMICONDUCTOR COMPONENTS
      • VR DEVICES
      • VR SENSORS
      • OTHERS
    5. MARKET BY TECHNOLOGY
      • HEAD MOUNTED
      • GESTURE TRACKING
      • PROJECTORS AND DISPLAYS

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