5G In Healthcare Market Overview 2022 | Technology Advancement, Global Industry Size, SWOT Analysis
The Global 5G in the Healthcare market was valued at USD 254.8 million in 2021 and is expected to reach USD 4,385.64 million by the year 2028, at a CAGR of 50.21%
Technological advancement has resulted in a new dawn for the healthcare industry. With the industrial revolution and the boom in the Internet of Things (IoT), connected healthcare has become one of the trending topics. Increasing usage of smartphones, connective technologies, and remote management are some of the factors that have supported the digitization of the healthcare industry. The launch of 5G network services is further anticipated to improve many existing use cases, while new ones will be created that are currently unmet by current technologies, such as remotely performed patient examinations and even operations. Very low end-to-end latency and ultra-reliable communications will be critical for providing instant communication about patients' conditions - via HD images and access to medical records - as well as accurate feeling and tactile interaction in the case of remote surgical procedures.
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The healthcare sector is one of the fastest-growing markets, with an increase in the number of applications' reliance on the network's distinct types of data in varying sizes and formats, putting composite demands on the network in terms of bandwidth, data rate, and frequency, among other factors. Several emerging connectivity requirements of healthcare providers are addressed by 5G technology. Lower frequency, faster speeds, increased connection density, and the ability to guarantee the quality of service (QoS) required to create new use cases are examples of these. With the advancement of new 5G technologies, IT services and applications in the healthcare sector are becoming more connected than ever.
Future ambulance technology will aid in the critical transmission of information from first responders to healthcare professionals, saving time. 5G allows for the immediate transfer of data, allowing emergency doctors to gain a basic understanding of the case even before the patient arrives at the ER. 5G is still a developing technology with its own set of challenges. Its adaptability and wide range of use case functionality make it vulnerable to cyber-attacks. The full deployment of 5G can be costly, and infrastructure must be in sync with it. These issues will be addressed as 5G technology matures.
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Based on Component Type: the hardware segment is expected to dominate the market during the forecast period. The maximum share of this segment can especially be attributed to the need for frequent up-gradation or replacement to make optimal use of the latest software available in the market.
Based on End-Users: healthcare providers are expected to register the maximum market share during the forecast period. The large share of this segment can be attributed to the growing requirement for an efficient healthcare system, a growing number of hospitals and ambulatory care centers, rising patient volume, growth in telehealth, increasing adoption of 5G-enabled wearable medical devices, and the growing demand for better technologies that help in the easy transfer of large data files.
Based on the Application: the connected medical device is expected to dominate the market over the forecast period. The large share of this segment can be attributed to the rise in the telehealth market and the increasing tendency towards home healthcare.
By Product Type
• Data Transmission
• Wearable Device
• Telerobotic Surgery
• Remote Patient Monitoring
• Connected Medical Devices
• Connected Ambulance
By Component Type
By End Users
• Healthcare Providers
• Ambulatory Surgical Centers
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Regional Analysis of the 5G in the Healthcare Market:
North America region is expected to hold the maximum market share and continue its dominance across the forecast period. The U.S. and Canada are the key economies that drive the 5G healthcare market in the region. The aging population is anticipated to grow the demand for advanced solutions such as mHealth solutions, and home healthcare, which require high-speed internet.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)
Major Key Players Considered in the 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)
• Telefónica (Spain)
• China Mobile Limited (China)
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Key Industry Developments in the 5G in Healthcare Market
In January 2019, AT&T a 5G technology provider collaborated with Chicago-based RUSH University Medical Centre to deploy small cells in strategic locations around the hospital to make it a smart hospital. With the help of this technology hospital rooms can be intelligently scheduled for patients, moreover, patient care can be enhanced using artificial intelligence and machine learning.
In February 2020, Emory healthcare along with Verizon's 5G ultra-wideband joined hands to develop and test 5G ultra-wideband uses in the healthcare sector. This association is going to help doctors to create holographic 3D anatomical renderings which can be used to study from every aspect and guide doctors while performing surgery.
Table OF Content
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Product Type
3.2 By Component Type
3.3 By Application
3.4 By End-Users
Chapter 4: Market Landscape
Chapter 5: 5G in Healthcare Market by Product Type
To Be Continue……
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