Healthcare Metaverse Market Forecasted to Grow by 2033

The metaverse is becoming part of our reality. It has already found its niche in the healthcare market – telemedicine, patient education, and innovative surgical methods are already part of medical care processes.

Experts are confident that the trend of creating and implementing metaverses in healthcare will continue to develop. In their recent reports, leading analytics companies like Spherical Insights, Towards Healthcare and Research and Markets note that metaverse technologies can provide almost unlimited growth of the healthcare market over the next decade.

According to the data, the global healthcare metaverse market was valued at approximately $8.97–10.5 billion in 2023. Experts predict that the compound annual growth rate (CAGR) will range from 26.3% to 49.3%.

Analysts are confidently forecasting that by 2033, the global healthcare metaverse market will reach approximately $80-100 billion. The latest Spherical Insights report published on February 23 gives an even bolder prediction — over $496.23 billion.

New information technologies occupy leading positions in all metaverse sectors, including healthcare. Analysts name Microsoft, Nvidia, Google and Meta among the most attractive companies in this area. Medical technology companies are joining them as well.

Hardware and augmented reality (AR) lead the steady growth of average annual growth rate. Virtual reality remains in high demand, while augmented reality – digital images overlaid on the real world – shows increasing promise for applications in training and surgery. Spherical Insights experts note that surgeons can use AR devices for planning and navigating surgical procedures, as well as obtaining real-time information during operations.

Analysts also note a significant increase in telemedicine after COVID-19. According to R&M company’s report, only 11% of Americans used telemedicine before the pandemic. Since then, that figure has risen to 76%.

More and more consumers around the world are choosing remote services. User interfaces, virtual clinics, and patient appointments will increasingly rely on metaverse technologies. This trend can potentially stimulate healthcare market growth, as well as the global implementation of metaverse technology as the basis for patient service and improvement of medical care quality.