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Healthcare Virtual Reality Market to Grow at 53% CAGR to 2023

December 17, 2018 / Fred Donovan

The healthcare virtual reality market is forecast by IT Intelligence Markets to increase at a CAGR of 53 percent through 2023. Key market players identified in the report include GE Healthcare, Virtual Realties, Virtalis, CAE Healthcare, Stryker Corporation, Brainlab, Philips, Siemens, Intuitive Surgical, Vital Images, and Medtronic. Virtual reality (VR) can be employed in healthcare in a number of ways, such as enabling education of healthcare practitioners, medical students, and patients about surgical and therapeutic procedures; making it easy for surgeons to visualize operating areas; and making image-guided surgeries more efficient. VRHealth CEO Eran Orr predicted that VR will be a game changer for the healthcare market in three years, according to a recent Forbes article. The Israeli start-up recently signed an agreement with VR firm Oculus to bring Oculus Go and Rift products to the healthcare market.