Market Overview:
Global 5G in Healthcare Market Size Was Valued at USD 40.3 Billion in 2022, and is Projected to Reach USD 147.42 Billion by 2030, Growing at a CAGR of 17.6 % From 2023-2030.
The implementation of 5G technology in healthcare has the potential to revolutionize healthcare delivery by enhancing speed and capacity while reducing latency. The efficiency of 5G networks offers numerous advantages in the healthcare sector, such as enabling telehealth initiatives, facilitating the transmission of large medical images, and supporting remote patient monitoring systems. By embracing and integrating 5G technology, healthcare services can be expanded at a lower cost, which is crucial given the escalating total health costs.
Top Key Players Covered In The 5G in Healthcare Market:
- NTT DOCOMO (UK)
- Bharti Airtel Ltd (India)
- AT&T Inc., (US)
- Qualcomm (US)
- Cisco (US)
- T-Mobile (US)
- Orange S.A. (France)
- Telit (Poland)
- Telus (Canada)
- Huawei Technologies Co., Ltd. (China)
- Vodafone Group Plc. (UK)
- Nokia Corporation (Finland)
- NEC Corporation (Japan)
- Samsung (South Korea)
- Ericsson (Sweden)
- Deutsche Telekom AG (Germany)
- SK Telecom Co., Ltd. (South Korea)
- Verizon (US)
- BT Group (UK)
- Telef?nica (Spain)
- China Mobile Limited (China) And Other Major Players.
Market Dynamics and Factors:
Smart healthcare is undergoing a significant shift from traditional hospital-centered systems to decentralized patient-centric systems. Rapid advancements in technology have sparked a transformative revolution in the healthcare industry. These smart healthcare systems incorporate cutting-edge diagnostic devices to provide advanced treatment and enhance the quality of healthcare through real-time data. They enable remote check-up services, reducing treatment time and costs, while also allowing healthcare providers to extend their services beyond geographical limitations.
In the future, ambulance technology will facilitate the vital transmission of information from first responders to healthcare professionals, resulting in significant time savings. The utilization of 5G technology will enable immediate data transfer, allowing emergency doctors to gain a preliminary understanding of the case even before the patient arrives in the emergency room. However, since 5G is still an evolving technology, it is not without its challenges. It?s versatility and wide range of use cases can make it vulnerable to cyber-attacks.
The 5G in Healthcare Market Report Highlight:
- By product type, the wearable device segment is anticipated to dominate the market over the forecast period. Wearable devices play a significant role in the 5G healthcare market, enabling remote patient monitoring, health tracking, and real-time data transmission.
- By component type, the hardware segment is anticipated to dominate the market over the forecast period. 5G in healthcare involves the integration of hardware components, such as specialized devices and equipment, that utilize the capabilities of 5G technology to enhance medical services and improve patient care.
- By application, the connected medical device segment is anticipated to dominate the market over the forecast period. In the realm of healthcare, a 5 G-connected medical device pertains to a device that leverages the capabilities of 5G technology to establish a connection and transmit data in real time.
- By end users, the healthcare providers segment is anticipated to dominate the market over the forecast period. Healthcare providers serve as the main beneficiaries and users of 5G technology in healthcare. With the help of 5G technology, healthcare providers can benefit from faster and more reliable connectivity, leading to improved efficiency and effectiveness in delivering healthcare services.
- North America region is expected to dominate the market over the forecast period. The 5G healthcare market in the region is primarily driven by the United States and Canada, as they are the key economies involved. The increasing demand for advanced solutions like mHealth and home healthcare, which rely on high-speed internet, is being fueled by the growing ageing population.
Key Industry Developments in the Global 5G in Healthcare Market:
In February 2022, Cisco announced its acquisition of Accedian, a Montreal-based provider of 5G network performance solutions for the healthcare industry. The acquisition will strengthen Cisco?s 5G network portfolio and help healthcare customers optimize network performance, security, and reliability.
In October 2022 AT&T and Aira its acquisition of Aira, a San Diego-based provider of 5G-enabled remote healthcare solutions. The acquisition will help AT&T expand its 5G capabilities in the healthcare industry and enable Aira to offer more comprehensive remote healthcare solutions to healthcare providers.
5G in Healthcare Market Segmentation:
By Product Type
- Data Transmission
- Wearable Device
- Telediagnosis
- Telemonitoring
- Telerobotic Surgery
- Others
By Component Type
- Hardware
- Connectivity
- Services
By Application
- Remote Patient Monitoring
- Connected Medical Devices
- AR/VR
- Connected Ambulance
- Others
By End Users
- Healthcare Providers
- Ambulatory Surgical Centers
- Others
For this report, Introspective Market Research has segmented the 5G in Healthcare Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
