5G in Healthcare Market by Component (Hardware, Services [Professional, Managed], Connectivity), Application (Healthcare Management, Remote Healthcare, AR/VR, Asset Tracking, Connected Medical Devices), End User (Payer, Provider) - Global Forecast to 2030,’ published by Meticulous Research®, the 5G in healthcare market is projected to reach $166.1 billion by 2030, at a CAGR of 29.5% from 2023 to 2030.
The fifth generation of cellular wireless technology has the potential to revolutionize healthcare with its high-speed connectivity. 5G technology is driving innovations in healthcare via mixed/augmented/virtual reality, remote medical learning, and artificial intelligence.
The healthcare domain is time-sensitive and critical in nature, thus requires continuous access to real-time data and advanced medical technologies. The implementation of 5G technology in healthcare enables effective and improved communications and quick and efficient transmission of vast amounts of data to assist in the treatment of life-threatening diseases.
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The high computing and low latency capabilities of 5G can accelerate and enhance the rate of therapy and diagnosis exponentially. For example, remote medical learning can be facilitated with the help of 5G technology, enabling healthcare professionals to receive real-time medical training and updates from any location. The low latency and high-speed connectivity of 5G can also enable the seamless use of mixed/augmented/virtual reality to create immersive healthcare experiences for patients, enhancing their understanding and participation in their treatment plans.
Overall, the implementation of 5G technology in healthcare can transform the delivery of healthcare services by improving accessibility, affordability, and quality of care.
Based on component, in 2023, the hardware segment is expected to account for the largest share of the 5G in healthcare market. The growth of this segment is attributed to the rising need to replace & upgrade devices to enable the use of the latest software in the market and the rising demand for ultra-high bandwidth and ultra-low latency connectivity.
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Based on application, the remote healthcare segment is projected to register the highest growth rate during the forecast period.
Based on end user, in 2023, the healthcare providers segment is expected to account for the largest share of the 5G in healthcare market. The growth of this segment is attributed to the high adoption of 5G-enabled medical wearable devices
Based on geography, in 2023, North America is expected to account for the largest share of the 5G in healthcare market, followed by Europe and Asia-Pacific. Furthermore, the U.S. is expected to be the largest shareholding market in North America in 2023. The market growth in the U.S. is attributed to the high disposable incomes of the population, the rising number of patients with chronic diseases, favorable government investments for the digitalization of the healthcare sector, and the availability of advanced infrastructure for the implementation of 5G services. However, APAC is expected to witness a rapid growth during the forecast period.
Key Players:
The key players operating in the 5G in healthcare market are AT&T Inc. (U.S.), Verizon Communications Inc. (U.S.), LM ERICSSON TELEPHONE COMPANY (Sweden), T Mobile USA, Inc. (U.S.), Cisco Systems, Inc. (U.S.), TELUS Corporation (U.S.), Telit corporate group (U.S.), Orange SA (France), Telefónica, S.A.(Spain), SAMSUNG ELECTRONICS CO., LTD. (South Korea), BT Group plc (U.K.), NEC Corporation (Japan), and QUALCOMM Incorporated (U.S.).
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Key questions answered in the report-
• Which are the high-growth market segments in terms of component, application, end user, and region/country?
• What was the historical market size for 5G in healthcare across the globe?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, challenges, opportunities, and trends in the global market of 5G in healthcare?
• Who are the major players in the global 5G in healthcare market?
• How is the competitive landscape, and who are the market leaders in the global 5G in healthcare market?
• What are the recent developments in the 5G in healthcare market?
• What are the different strategies adopted by the major players in the 5G in healthcare market?
• What are the geographical trends and high growth regions/countries?
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/5G-in-healthcare-market-5431
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