Europe Virtual Reality (VR) Health Market is expected to grow with the CAGR of 33.5% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.
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Europe virtual reality (VR) health market is a fragmented market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.
The major players dealing in Europe virtual reality (VR) health market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio.
For instance,
- In August 2021, AppliedVR entered into a partnership with Curebase to run clinical trials to assess the effectiveness of VR-based therapy. Under this partnership, AppliedVR deployed the Curebase platform to run five clinical trials assessing the effectiveness of VR-based therapy to treat chronic pain. This has helped the company to grow in the market
Facebook is the dominating player in Europe virtual reality (VR) health market. The other key players existing in the market includes SyncThink Inc., AppliedVR, Koninklijke Philips N.V., EchoPixel, Psious, Firsthand Technology Inc, MindMaze Inc, Augmedix, Inc, VirtaMed AG, Vivid Vision, Inc, Virtually Better Inc, Osso VR, Inc, ImmersiveTouch, Inc, CAE Inc, Google (A Subsidiary of Alphabet Inc), Microsoft, General Electric, Medical Realities Ltd, and Siemens among others.
FACEBOOK
Facebook was incorporated in 2004, and is founded in California, U.S. The company is engaged in designing and providing AR/VR, engineering, AI, and gaming solutions to the customers. The product categories of the company include AI, Facebook reality labs, engineering, and gaming. The market focused category is Facebook reality labs.
- In July 2021, Facebook announced the integration of their Oculus virtual-reality headsets with Apple Inc.’s health app on iPhones. The feature would allow a user of the Oculus move workout system to add data – such as the number of calories burned -- to the iPhone health app. This has helped the company to enhance its offerings and to grow in the market.
The company has presence in North America, Europe, Asia-Pacific, Middle East and Africa, and South America. In addition to it, the company also generates its revenue from the various subsidiary companies such as Toei Hot Studio Inc., Facebook Ireland Limited, and Novi Financial Inc. among others.
MICROSOFT
Microsoft was founded in 1975 and is headquartered in Washington, U.S. The company is engaged in manufacturing and providing cloud-based solutions with software, services, platforms, and content and also provide support & consulting services. The business segments of the company productivity and business processes, intelligent cloud, and more personal computing. The market focused business segment is productivity and business processes. The product and solution categories of the company include software, PCs & devices, entertainment, business, developer & IT, and others. The market focused business category is developer & IT.
- In April 2021, Microsoft announced that they have won a U.S. Army contract for augmented reality headsets, worth up to USD 21.9 billion over 10 years. Under this, Microsoft will deliver more than 120,000 devices based on its HoloLens augmented reality headset to the U.S. Army. This will help the company to enhance its customer base and to grow in the market.
The company has presence in North America, South America, Europe, Asia, Middle East and Africa. In addition to it, the company also generates its revenue from the various subsidiary companies such as, Skype Communication S.a.r.l., LinkedIn Corporation, GitHub, and among others.
KONINKLIJKE PHILIPS INC.
Koninklijke Philips Inc. was incorporated in 1891 and is headquartered in Eindhoven, Netherlands. The company is engaged in designing and providing health technology to the customers. The business segments of the company include diagnosis & treatment business, connected care businesses, personal health businesses, and others. The market focused business segment is diagnosis & treatment business. The product categories of the company include consumer products, healthcare, and other business solutions. The market focused category is healthcare.
- In August 2021, Koninklijke Philips N.V. announced the launch of digital experience during the virtual European Society of Cardiology (ESC) 2021 Congress. Under this, the company spotlighted smart diagnostic and treatment solutions for the customers. This will help the company to enhance its offerings and to grow in the market
The company has presence in North America, Europe, Asia-Pacific, Middle East and Africa, and South America. In addition to it, the company also generates its revenue from the various subsidiary companies such as, Capsule Technologies Inc., Saeco, and Magnavox among others.
