According to a report by Global Industry Analysts, the global market for Virtual Reality (VR) in Healthcare is estimated to be worth $3.8 billion by 2020. The United States is expected to be the largest market globally driven by increasing spend on R&D and investments in VR technology by government and private companies. Meanwhile, Asia-Pacific is projected to be the fastest growing market with a growth rate of 23.2% annually. Billion Dollar Unicorn club member MindMaze is a leading player in this market.
MindMaze’s Offerings
Ecublens, Switzerland-based MindMaze was founded by neuroscientist Tej Tadi. Prior to founding MindMaze, Tej was a senior scientist at Switzerland’s prestigious École Polytechnique Fédérale de Lausanne (EPFL). During his PhD at the institute, he set up an immersive virtual reality system in combination with brain imaging technologies to help deliver trans-disciplinary work in cognitive psychology, neuroimaging, and virtual reality. In 2011, he set up MindMaze to design and develop applications in Neuro-Rehabilitation, Game training and Interfaces with the intention of setting up a service to help with neurology, psychiatry, and sports rehabilitation.
Today, MindMaze operates an online platform that delivers an intuitive human machine interface to integrate virtual reality, computer graphics, brain imaging, and neuroscience. Its medical grade virtual reality platform is able to help patients by stimulating neural recovery and has proven to heal patients faster than traditional physical therapy.
MindMaze’s technology uses a motion-sensing camera that projects the patient’s avatar onto VR goggles. The patient then has as many as 32 electrodes placed on the head to command the virtual arm or leg to perform a task. Its technology helps reactivate damaged neurons in a patient’s brain. The first-of-its-kind multisensory technology from MindMaze has been commercialized for stroke and brain-injury survivors and with its regulatory approvals, it is able to accelerate placement of devices in Europe and Asia.
No Comments