Virtual Reality Exposure Therapy For Mental Disorders Market - Forecast(2024 - 2030)

Virtual Reality Exposure Therapy For Mental Disorders Market Overview

Virtual Reality Exposure Therapy For Mental Disorders Market size is estimated to reach $1.1 billion by 2027, growing at a CAGR of 21.4% during the forecast period 2022-2027. Virtual Reality Exposure Therapy (VRET) is a virtual immersion therapy that utilizes specially designed programmed computers to help in the treatment of psychological conditions. The technology used in Virtual Reality Exposure Therapy builds artificial environments that depict real-life situations. Arrangement in an immersive and interactive virtual world prepares individuals with the practice and machinery required to prosper. Body dysmorphia is a psychological symptom that averts numerous people with eating ailments from embracing recovery. Virtual reality therapy has been utilized to endeavor to treat eating ailments and body dysmorphia. According to a study conducted, participants finished different tasks in virtual reality environments which could not have been effortlessly reproduced without the technology. Virtual reality (VR) exposure is conceivably an effective and economical treatment of anxiety ailments. VR exposure therapy decreased the fear of heights in the earliest controlled investigation of virtual reality in the treatment of a psychiatric ailment. Current research demonstrates that individuals with mental issues like obsessive compulsive disorder (OCD), post-traumatic stress disorder (PTSD), or phobias gain from exposure therapy utilizing simulated visuals. The use of virtual reality in cognitive behavioral therapy is increasingly taken advantage of for the treatment of mental disorders. Virtual Reality Exposure Therapy for Mental Disorders Industry applications include entertainment and the health industry.

The data points and information accumulated from Virtual Reality (VR) therapy are far superior and more useful to the patient reactions in conventional treatment methodologies and this is set to drive the Virtual Reality Exposure Therapy for Mental Disorders Market. The increasing predominance of mental ailments like obsessive-compulsive disorder is set to propel the growth of the Virtual Reality Exposure Therapy for Mental Disorders Industry during the forecast period 2022-2027. This represents the Virtual Reality Exposure Therapy for Mental Disorders Industry Outlook.

Report Coverage

The “Virtual Reality Exposure Therapy For Mental Disorders Market Report - Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Virtual Reality Exposure Therapy for Mental Disorders Market.

Key Takeaways

The Virtual Reality Exposure Therapy for Mental Disorders Market based on component can be further segmented into Virtual Reality Headset, Virtual Reality Earphones, Virtual Reality Software and Modules, Virtual Reality Workstation, Virtual Reality Position Tracker / Sensors, Biofeedback, Monitor and Others. The Virtual Reality Headset Segment held the largest Virtual Reality Exposure Therapy for Mental Disorders market share in 2021. This growth is owing to the surging application of virtual reality headsets in virtual reality exposure therapy. Virtual Reality headsets constitute the essential portion of the therapy which provides real-life like experience in the three-dimensional (3D) format with the competency of computerized technology. The soaring demand for virtual reality headsets owing to the introduction of progressive, reduced cost and wireless virtual reality headsets is further propelling the growth of the Virtual Reality Headset segment.

Furthermore, the Virtual Reality Headset segment is estimated to grow with the fastest CAGR of 22.8% during the forecast period 2022-2027 owing to the heightening compatibility and ease of application of virtual reality headsets with a smartphone application for the treatment of serious mental ailments.

Virtual Reality Exposure Therapy For Mental Disorders Market Segment Analysis – By End User:

The Virtual Reality Exposure Therapy for Mental Disorders Market based on end user can be further segmented into Hospitals, Therapy Clinics and Surgical Centers, Research And Training Organizations and Others. The Hospitals Segment held the largest Virtual Reality Exposure Therapy for Mental Disorders market share in 2021. This growth is owing to the surging awareness of the government and financing for connected devices for healthcare infrastructure. Virtual Reality Exposure Therapy may be applied to improve the treatment of anxiety ailments. The increasing predominance of mental ailments across the world requiring specialized hospitals equipped with experienced and qualified physicians and the provision to arrange for exposures in virtual reality are further propelling the growth of this segment.

Furthermore, the Therapy Clinics and Surgical Centers segment is estimated to grow with the fastest CAGR of 23.3% during the forecast period 2022-2027 owing to the proliferating admission of patients enduring cardiac strokes and the heightening requirement for post-cardiac stroke/surgery therapy.

Virtual Reality Exposure Therapy For Mental Disorders Market Segment Analysis – By Geography:

The Virtual Reality Exposure Therapy for Mental Disorders Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and Rest of the World. North America (Virtual Reality Exposure Therapy for Mental Disorders Market) held the largest Virtual Reality Exposure Therapy for Mental Disorders market share with 35% of the overall market in 2021. The growth of this region is owing to the surging application of Virtual Reality (VR) in therapy resulting in a boost in ease, acceptability and efficiency of treatment for anxiety in the North American region. Continuous development of VR applications for clinical utilization is supported, specifically when established in collaboration with software developers, clinical users, therapists who are experienced in VR Exposure Therapy (VRET) and researchers. The burgeoning government financing in healthcare infrastructure is further propelling the growth of the Virtual Reality Exposure Therapy for Mental Disorders Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR over the forecast period 2022-2027. This growth is owing to factors like the increasing predominance of stroke in countries like Japan, Taiwan, China and India in the Asia-Pacific region. The headquarters for the majority of the providers for workstations and electronic parts are in the Asia-Pacific region which is further fuelling the progress of the Virtual Reality Exposure Therapy for Mental Disorders Market in the Asia-Pacific region. 

Virtual Reality Exposure Therapy For Mental Disorders Market Drivers

Surging Applications of Virtual Reality Exposure Therapy for Mental Disorders are Projected to Drive the Growth of Virtual Reality Exposure Therapy for Mental Disorders Market:

Body Dysmorphic Disorder (BDD) or body dysmorphia is a mental health condition where a person spends enormous time worrying about flaws in appearance. VR-based exposure therapy has demonstrated outcomes in the evaluation and treatment of different mental issues inclusive of the treatment of anxiety disorder and particular phobias like the fear of heights, fear of lying, driving phobia, spider phobia and social phobia and agoraphobia. In fact, the domain of managing symptoms of the ailment has also been investigated. Anxiety ailments are among the most typical mental ailments influencing almost 18.1% of adults. The estimated predominance of anxiety disorders worldwide is 7.3% as per WHO reports and they bring about a soaring proportion of the worldwide burden of disease. Anxiety symptoms can bring about considerable agony, hinder the quality of life and add stress. Anxiety builds risk for a series of co-occurring physical conditions, inclusive of chronic pain. Given the preponderance of anxiety and its effect on mental and physical health, efficient treatment is clearly required, yet most of the affected individuals stay untreated. Exposure therapy for anxiety ailments has a powerful proof base, yet a smaller number of therapists use this technique and patient and therapist misunderstandings restrict its accessibility. Exposure therapy includes step-by-step and recurrent exposure to feared stimuli with resultant alterations in cognitions, behaviors and emotional and physical responses. Feared stimuli can be nearly anything: living organisms, inanimate objects, situations, activities, thoughts, mental images, physical symptoms and/or affective experiences. Comprehensive research shows the efficiency of exposure-based therapy for different anxiety ailments, specifically phobias. Exposure expedites extinction of the fear response and assists in altering dysfunctional evaluations of threat and not assistive responses, decreasing the conditioned anxiety related to feared stimuli. Slow exposure permits habituation and re-assessment of the threat to happen. While brief negative thoughts are usual, extended negative feelings regarding oneself can result in conditions like body dysmorphia. Virtual reality can assist patients with negative body image in viewing themselves more precisely. Guided exposure therapy can be a significant instrument for individuals to eventually be able to accept their bodies. Certain typical applications of Virtual Reality Exposure Therapy for Mental Disorders industry include the utilization of virtual reality as an educational constituent to teach people about the factors that worsen or enhance symptoms and exposure to persecutory fears. The surging applications of Virtual Reality Exposure Therapy for Mental Disorders in cognitive behavioral therapy are therefore fuelling the growth of the Virtual Reality Exposure Therapy for Mental Disorders Market during the forecast period 2022-2027.

Soaring Advances in Immersive Virtual Reality Interventions for Mental Ailments are Expected to Boost the Growth of the Virtual Reality Exposure Therapy For Mental Disorders Market:

As per World Health Organization (WHO), in 2019, 1 in every 8 people, or 970 million people across the world were residing with a mental ailment, with anxiety and depressive ailments being the most typical and in 2020, the count of people residing with anxiety and depressive ailments increased considerably owing to the COVID-19 pandemic. Further WHO Updates indicate that basic estimates demonstrate a 26% and 28% boost respectively for anxiety and serious depressive disorders in just one year. Immersive virtual reality (VR) has been recognized as a potentially revolutionary tool for psychological interventions. Investigations have been conducted involving present advances in immersive VR-based therapies for mental disorders. With VR, persons move into computer-generated simulations of real-life situations. Users can communicate with the virtual environment and the environment responds to the activities of the user in like anxiety, sweating, or joy, comparable to reactions in real life. This immersive feature of VR simulations — feeling real — makes it a strong tool for therapy. Early generation VR software and hardware permitted only clear simulations, imitating real-world situations and was principally utilized for VR exposure therapy (VRET) for anxiety. However, developments have been advancing expeditiously and the possibility goes far beyond utilizing VR for exposure. With VR, actions that are impossible or infeasible in the real world can be performed, allowing innovative strategies that could enhance therapeutic interventions. Furthermore, the technology can be utilized for inspecting mechanisms included in the endurance of mental disorders, for example, heightened social stress reactivity in relation to psychosis liability or the role of distorted body image in eating ailments. One current development includes stand-alone, self-guided, or automated VR treatments. This development is fuelled by the belief that access to evidence-based psychological treatment can be challenging and waiting lists are a constant issue. Automated VR applications can make psychological therapy more readily accessible for numerous people and may also be utilized to boost treatment intensity, for example, by complementing face-to-face therapy with home VR exercises, or as a booster session after completing treatment. One typical Virtual Reality Exposure Therapy for Mental Disorders industry application is in the treatment of psychosis. In a therapeutic setting, Previous research demonstrates that individuals with Body Dysmorphic Disorder (BDD) or Body Dysmorphia misconstrue ambiguous social information in a negative and threatening manner. Virtual Reality provides people with obsessive compulsive disorder, the favorable chance to practice exposure to objects and environments that otherwise would be impractical or challenging in a psychologist’s office. The soaring advances in immersive virtual reality interventions for mental ailments are therefore driving the growth of the Virtual Reality Exposure Therapy for Mental Disorders Market during the forecast period 2022-2027.

Virtual Reality Exposure Therapy For Mental Disorders Market Challenges

Challenges Related to Virtual Reality Exposure Therapy are Hampering the Growth of the Virtual Reality Exposure Therapy For Mental Disorders Market:

As per World Health Organization (WHO), in 2019, 301 million people were residing from an anxiety ailment involving 58 million children and teenagers. There are numerous reasons for Virtual Reality (VR) Exposure Therapy being applied less for the treatment in spite of its efficiency. Impediments involve apprehension of being exposed. Patients frequently take a step back prior to getting into exposure therapy and decline the treatment out of fear. Exposing themselves to the most alarming stimuli once more in their lifetime scares them immensely. Another impediment is the organization of exposures. As VR is targeted toward displaying the images that a client is frightened of, a therapist may find it hard to mimic an analogous environment by way of technology. Though a patient may disclose his/her fears elaborately, the practical arrangement may prove to act as an impediment. Furthermore, therapists that offer exposure therapy are uniformly concerned regarding the fear that they may breed in the patient through the application of this technique. This may result in the raised dropout rate of patients owing to worsened possibilities of pushing the anxiety levels higher. Furthermore, the count of VR tools attending to obsessive-compulsive disorder (OCD) is still lacking owing to the heterogeneous symptoms of obsessive compulsive disorder (OCD) and poor comprehension of the association between VR and OCD. These issues are thus hampering the growth of the Virtual Reality Exposure Therapy for Mental Disorders Market.

Virtual Reality Exposure Therapy For Mental Disorders Industry Outlook

Technological Innovations and R&D Activities are key strategies adopted by players in the Virtual Reality Exposure Therapy For Mental Disorders Market. The top 10 companies in the Virtual Reality Exposure Therapy For Mental Disorders Market are:

1. Microsoft Corporation
2. Google LLC
3. Proprio
4. Psious
5. Mindmaze Labs
6. Firsthand Technology
7. Atheer
8. Medical Realities
9. Virtually Better
10. Accelerated Care Plus Corporation

Recent Developments

• In June 2022, in an interview with Xavier Palomer, CEO of Psious. It was revealed that Psious Toolsuite is the earliest online platform particularly developed for mental health. It is an app planned by psychologists for psychologists who utilize virtual reality and 3D technology for the treatment of anxiety disorders. The project was initiated by Dani Roig, the other founder and Xavier Palomer, CEO of Psious.

• In September 2021, Rendever declared the introduction of its novel interdisciplinary VR fitness platform, RendeverFit™ - the earliest VR application that combines physical fitness with cognitive behavioral therapy and socialization, planned particularly for older mature grown-ups. This novel product offering comes on the heels of a $2M NIH Phase II grant, permitting the Rendever team to further research the impact of VR on seniors. Investigations demonstrate that physical activity among older adults decreases the hazard of many ailments and chronic conditions, defers the outset of dementia and enhances complete health and wellbeing.

• In April 2020, Psious, a virtual reality platform for mental health, declared the introduction of Amelia Virtual Care for Smartphones, its novel solution that permits therapists from across the world to conduct remote therapy sessions with the application of virtual environments. 

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