Why Virtual Reality is the Future of Healthcare

CmW7lDKXYAATP7GWill 2016 be a year of virtual reality? This question has been discussed over the last six months in the major media outlets such as Fortune Magazine, BBC, Bloomberg, Venture Beat, and The Guardian. With Oculus Rift coming into retail, new generations of headsets, and growing amount of high-quality content, the technology is becoming a reality—opening a lot of new business opportunities. While the video games industry is the absolute market leader, other industries are beginning to incorporate augmented and virtual reality technologies into their systems.

No wonder venture capitalists and other investors have moved from skeptical spectator seats to active participants. They injected $658 million in virtual reality startups in 2015 and $1.1 billion in just the first three months of 2016. Interestingly, more than half of the investments has been made in early stage companies, with seed and angel funding accounting for 59% of all the money.

According to the latest study conducted by Goldman Sachs, the industry growth will continue and, in ten years, virtual and augmented reality will yield $80 billion in revenues ($23 billion in the bear-case and $182 billion in the bull-case, respectively).

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About Peter Coffaro 1136 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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