The medical sector's innovations drive ongoing change in the healthcare technology sector. From MRI scans and X-rays to robotic surgery and virtual reality, the healthcare industry is undergoing a significant digital shift. To get a report in detail, contact us at - info@insights10.com
2. 2
This reports covers:
1. Metaverse in Healthcare: Definition
2. Transformation of Healthcare by Metaverse
ā¢ Immersive Training
ā¢ Digital Diagnostics
ā¢ Patient and Caregiver Wellness
ā¢ Care planning and Delivery
ā¢ Virtual Therapeutics
ā¢ Interoperability
3. Challenges of Metaverse
ā¢ Privacy and Data Security
ā¢ High Cost of Technology
ā¢ Gaining Traction from Audience
4. Major Players Integrating Metaverse in Healthcare
3. 3
Metaverse in Healthcare: Definition
The Metaverse in Medicine can be defined as the medical Internet of Things facilitated using AR and VR glasses
Telemedicine
ā¢ Post COVID, the use of
telemedicine gained traction
from around 43% of healthcare
facilities delivering remote
therapy to patients, rose up to
95%
ā¢ Metaverse will offer a virtual
office where patients and
doctors can consult in a 3D
clinic or any other setting
ā¢ In safe settings where every
encounter can be properly
watched and managed, patients
can interact with situations that
make them anxious
Blockchain
ā¢ Blockchain is a crucial
component of the metaverse in
the field of healthcare since it
enables decentralised
communities managed
democratically through smart
contracts and a record of digital
"ownership" of surroundings or
even things in the virtual world
ā¢ Most well-known application of
blockchain in healthcare is the
administration and protection of
our extremely precious health
data
Digital Twins
ā¢ Patient might be the patient's
digital twin in the metaverse
ā¢ Digital twin is an online
healthcare service specialized
in occupational health, will
eventually be used as ātest
dummiesā for individuals,
predicting everything from how
we will recover from surgery to
how we would react to specific
medicines
Three major channels fueling the use of metaverse in healthcare
4. 4
Transformation of Healthcare by Metaverse (1/2)
Immersive Training:
The metaverse places the student in whichever environment they require. Consider virtual experiences that help
teach sensitivity and empathy by placing providers in the patient's shoes. Medical students can safely practise
operations in simulated operating rooms, and surgeons can model surgeries using digital twins of organs to
examine potential outcomes without putting a patient at risk
Digital diagnostics
Through augmented reality, we may enable various diagnostics by using movement, location, and interactivity. For
example, by observing eye movements, medical professionals can notice neurological indicators or ocular disorders
like glaucoma
Patient and caregiver wellness
Patients and carers can learn in the metaverse just like clinicians can. Doctors can explain and even demonstrate
illness symptoms and treatment options using immersive environments. These settings can aid in teaching carers
how to take care of a family member at home. Better health literacy and greater adherence to care plans can result
from improved educational experiences, which can eventually improve results
5. 5
Transformation of Healthcare by Metaverse (2/2)
Care planning and delivery:
Immersive technologies support the next development of care planning and procedural preparation by simulating
procedures. For instance, Accenture and Microsoft collaborated to transform surgery in Mexico and Latin America.
During operations, surgeons can use augmented reality to view patient records, X-rays, CT, and MRI scans. Clinical
staff can benefit from real-time data sharing in less complex circumstances as well. First responders can have real-
time live video and audio communication with distant doctors using RespondEye's augmented reality technology
Virtual therapeutics
To assist patients with pain management, neurological problems, behavioural health, and physical health, new
digital therapies are leveraging extended reality technologies. BehaVR uses an evidence-based platform to
immerse patients in virtual worlds while providing them with tools and lifetime coping mechanisms that help them
deal with stress, anxiety, and terror
Tokenization and interoperability
Users may securely own, share, and manage patient, provider, and payer data with the use of web3, blockchain
technology, and other advancements (e.g., digital health identity and record management, secure payments,
rewards and incentives leveraging NFTs)
6. 6
Challenges of Metaverse in Healthcare and Patient Care
Privacy and Security in Metaverse
ā¢ Increasing technology innovations and awareness among the patients have raised immense concerns around the
privacy and security of the data in Metaverse
High Cost of Technology
ā¢ High-tech equipment, such as eyewear, gloves, sensors, and other wearables that can read patients' vital signs, are
required to enable healthcare to reach its full potential, is too expensive which limits to those who can afford it
Gaining Traction from Audience
ā¢ For metaverse, gaining the market traction is solely dependent on the adaption and acceptation of this new tech in
the market, elderly people or the rural population who are less tech savvy would hamper this emerging technology
7. 7
Major Companies Integrating Metaverse in Healthcare
ā¢ Developing a āvirtual hospitalā.
It comprises a Virtual
Reality(VR) hospital
environment, where treatments
will at first be focused on
physiotherapy services
ā¢ First component to be offered
by 2022 was a mental health
clinic offering services primarily
in virtual reality
ā¢ Apollo hospital group has
announced a unique
collaboration with ā8chili Incā to
enable engagement within the
metaverse
ā¢ A first-of-its-kind initiative, will
enable pre/post-operation
patient counseling through VR,
enabling increased patient
engagement as well as providing
skill mastery for hands-on
training to the healthcare
workers
ā¢ First-ever hospital foundation to
be launched in the Decentraland
Metaverse
ā¢ Supports the largest free-
standing, comprehensive tertiary
rehabilitation hospital in Canada,
serving patients of all ages who
require complex rehabilitation to
enable them to participate in life
to the fullest
LATUS HEALTHCARE iMining Apollo Hospitals
9. Who should buy this report?
MedTech
Players
HealthTech
Companies
Digital Health
Entities
Pharmaceutical
Players
Other Lifesciences
Companies
10. Cost of this report:
$2,500
Annual Subscription:
$125,000 $60,000
(Includes a total of 50 reports)
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Topics of Upcoming Reports
Patient Engagement- a New Standpoint on Care that
is Patient-Centered
E-Rx, the Digital Version of Prescription Improvising
the Chances of Better Patient Outcomes
Integration of Healthcare Systems with Big Data and
Data Silos
12. 12
Research Methodology
āŖ Insights 10ās research methodology delves deeper into the market, covering the macro and micro aspects of the industry. We identify the
key growth drivers, opportunities, and restraints that might promote or hinder the future industry growth along with an expansive
overview of the competitive landscape to help our clients make informed strategic decisions
āŖ We implement a mix of primary and secondary research for our market estimate and forecast. The secondary research forms the initial
phase of our study where we conduct extensive data mining, referring to verified data sources such as independent studies, government
and regulatory published material, technical journals, trade magazines, and paid data sources
āŖ For forecasting, the following parameters are considered:
ā Market drivers and restraints along with their current and expected impacts
ā Technological scenario and expected developments
ā End use industry trends and dynamics
ā Trends in the consumer behavior
ā Regulatory scenario and expected developments
ā Current capacity and expected capacity additions up to 2030
āŖ We assign weights to these parameters and quantify their market impacts using the weighted average analysis to derive the expected
market growth rate
āŖ We appoint data triangulation strategies to explore different areas of the market. Our qualitative and quantitative assessments are time-
sensitive, reflecting the most recent value and volume of the market across regions
āŖ All our estimates and forecasts are verified through exhaustive primary research with the Key Industry Participants (KIPs)
āŖ Currency used in the report is the US dollar (USD), with the market size indicated in USD million/billion (Mn/Bn)
13. 13
Analysis Methodology
Our Analysis Methodology involves three critical stages:
Primary
Research
Secondary
Research
Market Trends
Market Sizing &
Analysis
Data Triangulation &
Validation
Analysis &
Interpretation
Insights
Presentation &
Reporting
Data Collection
Market Data Analysis
& Statistical Model
Interpretation &
Presentation
14. 14
Data Triangulation & Data Validation
Bottom Up Approach
Summarization of revenue
generated from companies
to arrive at total market size
Revenue generated by products &
services offered by companies
Validation from
Primary Interview
Final
Market
Size
Top Down Approach
Final Market size break up to
rest of segmentation
Arriving at market size
of each segment
Validation from
Primary Interview
Final
Summary
15. 15
Key Benefits for Stakeholders from this Report
Study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent
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Our tools provides stakeholders with a cohesive understanding of the industry outlook, considering the qualitative and
quantitative industry variables
Comprehensive analysis of factors that drive and restrict the market growth is provided
Comprehensive quantitative analysis of the industry from 2021 to 2030F is provided to enable the stakeholders to capitalize on
the prevailing market opportunities
Extensive analysis of the key segments of the industry helps understand the applications and technologies used globally
Our rigorous data collection, thorough statistical analysis and specialist assessments ensure that our clientele has a greater
understanding of the industry space, supply chain, price fluctuations, competitive landscape, and other vital factors
16. 2021
2022-
2030
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21. Market Research Reports
across various domains of healthcare
Healthcare
Services
Clinical
Trials
OTC &
Nutraceuticals
Pharmaceuticals
(Diseases & Drugs)
Digital
Health
Medical
Devices
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01 03
02 04 05
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Data
Market
Dynamics
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Analysis
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Company Websites/Annual Reports
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Online Databases
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25. Research Projects Done
Over the years, we have developed an in-depth experience of executing
market analysis at global, regional & country specific level in life sciences.
Our team has
conducted market
research across 62+
global markets in
America, Europe,
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Asia Pacific regions
26. Mukesh is an engineering graduate
with an MBA in Marketing. He is a
seasoned healthcare market
research & marketing professional
with a progressive experience of over
20 years in Life Sciences, Pharma
and Medical Device sectors . With an
in-depth understanding of primary
research, he has conducted
hundreds of interviews of various
stakeholders in pharma & healthcare
& completed several research
projects across life sciences industry.
Ritu has over 6 years of experience in
strategy building, market assessments,
market sizing, and RWE for global MNC
healthcare & biopharma clients across
diff. markets (America, Europe, Africa,
APAC and Middle East). Her areas of
expertise include: Indentifying emerging
trends in life sciences industry,
Competitor landscape assessment,
Disease opportunity assessments etc.
She is a pro in secondary and primary
research with a deep domain expertise
in healthcare sector.
Purav is a physician and an
entrepreneur with 12+ years of
experience in Healthcare & Life
Sciences industry spanning across
strategy, market access, health
informatics and RWE, Digital
Healthcare, analytics and data science.
Purav studied medicine from Gujarat
University and also completed his MBA
from IIM-Kozhikode. Purav started his
career with Deloitte working on strategy
consulting engagements and also co-
founded ConvergeHealth by Deloitte.
Dhruv Joshi is an engineer and has done
Masters in Hospital Administration with
over 4 years of experience in the
healthcare and life science industry. He
has gained proficiency in market
research, market assessment, and
developing insights from it. He has
worked on various consulting projects
across different geographies including
Asia, Europe, US, MENA. He has been
aligned in working for sector reports of
various geographies along with market
sizing and forecasting.
Dr. Purav Gandhi
Founder & CEO
Mukesh Nayak
Head - Marketing
Ritu Baliya
Engagement Manager
Dhruv Joshi
Consultant
Project Leadership Team
27. 7 years of experience working with leading organizations in pharma, MedTech
and healthcare domain. Some of our recent clients are mentioned below
ā¦ and many more