Healthcare Applications in of the Digital world of the metaverse might greatly enhance patient outcomes by creating new channels for delivering efficient care. By 2030, MRFR (Market Research Future) projects that the worldwide healthcare market will have grown to $5,373 million, with a 48.3% CAGR between 2024 and 2030. The metaverse is anticipated to alter the paradigm of the healthcare system, enhancing treatment efficacy, surgical accuracy, and more.
Still in its early stages, the metaverse is growing quickly. The technology, which combines web 3.0, augmented reality, virtual reality, and artificial intelligence, has a lot of potential in the field of healthcare. Robotics, quantum computing, and the Internet of Medical Devices are all set to change the healthcare industry in fundamental ways. The metaverse is expected to change the way the healthcare system works, making therapy more effective, improving the accuracy of surgery, and more.
Major hospital chains and health care providers are moving quickly into the metaverse, which is a virtual world, to improve patient care. According to MRFR, a significant 48.3% CAGR is expected to drive the worldwide healthcare in the metaverse market to $5,373 Mn by 2030. This guess is based on the fact that many patients have already joined this virtual environment or are thinking about doing so.
There is proof that health information technology makes healthcare safer and better. Using the healthcare application in virtual world of metaverse can make a big difference for patients by opening up new ways to get affordable medicines to them. The Metaverse can be a great tool for doctors and nurses because it makes remote monitoring and telemedicine possible for people who don’t have easy access to medical care.
The Role of the Metaverse in the Future of Medicine
Metaverse moves health 4.0 forward by combining AI, AR, and VR. This lets patients participate and gives them a clear picture of their health status. It can be thought of as the next generation of the internet. It uses technologies like AI, AR, VR, and 5G networks to create more immersive, interactive, and experiential online experiences.
The metaverse is one of the main technologies that will expand the serviceable area to a larger patent base around the world, allowing for more services and ways to pay for them. Since the metaverse is where people will interact online in the future. Because of this, it is expected that this technology will grow a lot in the healthcare field over the next few years.
How Metaverse will modify medicine and health care in the future
The strain from recurring problems including chronic diseases, ageing populations, a shortage of health workers and resources, rising expenses, and these factors makes the healthcare system seem unstable. The metaverse has the potential to have the biggest revolutionary impact on the healthcare sector, it is now abundantly obvious. The technology will be applied in the following five areas: clinical care and wellness, teamwork, healthcare education, and revenue generation.
As a result of the pandemic, digital services like telehealth were used by a lot of people. This pushed the healthcare system to become more digital and automated. Due to social isolation and contactless regulations, remote care became important, and telepresence, digital twinning, and blockchain became important ways to change healthcare. With these three technologies, treatments will be much better, which will help patients get better care and save money.
Digital health is changing the way healthcare is given and is also a key part of the biotechnology and pharmaceutical industries. VR and AR are expected to have an effect on how medical education training modules are made and how doctors and medical students learn to communicate.
By putting these technologies into place, the healthcare industry as a whole, including the way we prevent and treat illness now, will be greatly improved. There is still a long way to go before the medical field goes through a metaverse revolution.
Start-up ecosystem builders in the healthcare metaverse
Different tech companies, startups, businesspeople, investors, and government agencies started to get more involved in the metaverse. They started looking into both old and new ideas to figure out how the technology could be used in medicine. For example, on September 13, 2022, LG Electronics’ North American Innovation Center (LG NOVA) announced that it had chosen 9 startups to start new businesses in digital health, the Metaverse, and electric transportation.
LG wants to play a bigger role in finding new services and apps for businesses that want to use Metaverse features. Mission for the Future’s worldwide challenge program includes healthcare and metaverse finalists Digbi Health, LifeNome, Mindset Medical, XRHealth, NeuroTrainer, and iQ3 Connect. These businesses will work with LG NOVA on new business ventures and try to get investments from LG and other investors in the LG NOVA ecosystem to make big changes.
On the other hand, on September 12, 2022, XRHealth, a Metaverse company that offers therapeutic VR solutions to improve patient care, announced that it had added NeuroReality’s cognitive training to its virtual clinics. Patients who have had a stroke or brain injury can play Koji’s Quest, an immersive VR game made by NeuroReality.