Digital health solutions are on the brink of a significant increase in market value due to the emergence of technologies such as virtual reality and augmented reality. Metaverse is proved to be a boon for these digital health programs, as it has been well known for some time that the healthcare framework is not sustainable in the long run because of increasing medical costs and expenses; the shortage of medical expertise and personnel, as well as inadequate resources and assets, are major concerns.
Therefore, it is essential to cover and utilize models that shift medical care from the doctor’s office to the home. Digital health is playing a major role in revolutionizing the healthcare industry by becoming a driving force of progress in biotechnology fields.
Metaverse’s virtual office for telemedicine visits will make the client experience better. This is done by using virtual reality and other technologies. This will help patients to feel like they are in the room with the doctor. This is important because it allows patients to be treated by specialists in any part of the world. This is also helpful for doctors because it makes it easier to get information from patients.
This article talks about Opportunities and Challenges in Metaverse Healthcare Industry
Opportunities In Metaverse Healthcare Industry:
Medical Education
The use of augmented reality and virtual reality will be instrumental in the way medical education is delivered. Augmented reality allows students to learn by actually performing medical procedures, using medical instruments, and seeing how the patient’s body reacts. Virtual reality gives students a virtual world of surgical theatres and rooms to practice on, allowing them to practice in a more realistic environment than their actual hospital ward. This makes learning more interactive and enjoyable for students. Celebrity coaches can be appointed for an even more entertaining learning experience.
Digital Twins
The digital twin is a technology that gives an exact representation of objects in the real world, as well as their state changes. Digital twins are designed to help you learn more about your product or service, analyze it and study it and make decisions accordingly. It is imperative that we find and apply models of care that move medical services from the doctor’s office to the home.
Blockchain
Blockchain has the potential to revolutionize the healthcare industry as it is an essential element of metaverse development. Many big entrepreneurs and researchers agree that it takes into account decentralized networks controlled by smart contracts, as well as a record of ownership of the environment or even things in our digital world. The most prominent application of blockchain technology in the healthcare industry is the administration and protection of highly critical healthcare-related data and information.
Fitness
Fitness and wellness gamification will play a crucial role in these services. Metaverse will connect users and healthcare providers, who can enjoy health and fitness applications with virtual instructors. Using metaverse and virtual reality, it would be possible to deliver more effective workouts and guidance to users.
People who are shy find virtual reality more interactive, engaging, and entertaining than other kinds of exercise. This has positively impacted those who are shy or timid. With virtual reality, augmented reality will emerge as a therapist for individuals because it has greater potential and horizon than traditional forms of fitness or traditional ways of maintaining health and fitness.
Augmented Reality
Clinical and medical schools are starting to integrate augmented reality into their educational programs so that students can gain significant learning potential from it during training and practical practice. Medical programs can create patient encounters by using augmented reality, allowing students to picture and practice their learnings during training sessions or practical practice time
Challenges In Metaverse Healthcare Industry
Huge Capital Investment
One of the major challenges is that there is a need for huge capital investment to enjoy the benefits of the metaverse. This means that companies in developing economies will have to invest in infrastructure such as 5G internet connection, wearables, and other advanced technology.
Cyberattacks
The healthcare industry is a frequent target of cyberattacks by cyber criminals. They want to misuse and manipulate patient data to their advantage. By 2025, there will be an estimated 1 billion people with smartphones worldwide. This means that there will be more than just 600 million smartphone users in the United States alone. With so much data in one place, it’s possible for hackers to access the information they shouldn’t have access to.
Data Privacy
As it becomes more widely used, the metaverse could create issues with healthcare that are related to who owns the devices, how comfortable they are with technology, and how accessible the internet is. Additionally, virtual entities like digital twins bring up questions about who owns the healthcare data and how private it is.
In a Nutshell,
There are certainly greater opportunities despite the risks involved. The use of virtual reality and augmented reality as components of the metaverse could help students in medical education and training. These technologies could create a replica of the real-world environment and provide real-world physical medical devices for training and practical purposes. The research determined that this market is projected to be worth USD 16.20 billion by 2028 while growing at a CAGR of 5.50%. However, the lack of skilled personnel, unfavorable reimbursement scenarios, and the high cost of the procedure might impede the growth of the market.
The Metaverse healthcare industry is gaining worldwide attraction. Webcom Systems has found that the metaverse healthcare industry market will exhibit a high growth rate over the next coming years. Governments and enterprises are focusing on reducing healthcare expenditures which will drive the growth of developing metaverse in the healthcare industry.
Recommended Read: Cost to Develop a Metaverse Platform
