5G in Healthcare Market Research Report Size | Trends Analysis Report - 2031

"5G In Healthcare Market (By Offering (Hardware And Services), Application (AR/VR, Virtual Consultations, Remote Patient Monitoring, Connected Ambulance, Inventory Management Devices And Others) And End Use (Healthcare Providers, Healthcare Payers And Pharmaceutical Companies))- Market Outlook And Industry Analysis 2031"

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The global 5G in the healthcare market is estimated to reach over USD 59.90 billion by 2031, exhibiting a CAGR of 36.73 % during the forecast period.

By enabling a new health ecosystem that can efficiently, affordably, quickly, and on a broad scale meet patients' requests, 5G represents a massive leap in the healthcare industry. In recent years, the use of 5G networks in the healthcare industry has grown. Robotics, IoT, and A.I. advancements will transform the health system into a newly connected ecosystem, giving 5G networks a boost.

The increasing use of robotic surgery and telehealth is driving the global market. Growing telecommunications innovation, the use of wearable medical devices powered by 5G technology, the ability of 5G technology to download enormous patient data files at light speed, and the availability of cheap sensors are all contributing to the market's expansion. Additionally, significant industry participants and the government are strengthening their efforts to integrate 5G in healthcare, propelling market growth. Moreover, the requirement for faster and more reliable data transmission in the healthcare industry will drive market growth in the years to come.

Major Players in the 5G in Healthcare Market:
AT&T Inc.
Verizon Communications
NEC Corporation
Cisco Systems, Inc.
S.K. Telecom Co., Ltd.
Fibocom Wireless Inc.
Qualcomm
Ericsson
Nokia Corporation
Huawei Technologies Co., Ltd.
China Mobile Limited
Samsung Electronics Co., Ltd.
B.T. Group
Deutsche Telekom AG
Vodafone
China Mobile Limited
China Unicom
Saudi Telecom Company (STC)
T-Mobile

Market Dynamics:
Drivers-
ICT and medical expertise have long been a potent duo for improving patient care. Robotic surgery and remote diagnosis are widely utilized worldwide, and thanks to the rapid development of ICT, even more possibilities for these procedures are becoming a reality. A network that can support real-time, high-quality video is necessary for telemedicine, which frequently entails wired networks. Several nations have demonstrated significant support for telemedicine and telehealth, and they are starting to set up statewide telehealth coverage, clear reimbursement guidelines, and a regulatory framework for telehealth operations. The advantages of 5G have further contributed to the rising use of telehealth solutions, fueling the market's expansion.

Challenges:
Huge investments would be required to switch from 4G to 5G technology. The base station price, periodic interest rate, and needed throughput density all have a significant effect on the cost of the 5G infrastructure. For effective and ultra-dense tiny cell deployments, these expenses must be reduced. CSPs must invest billions of dollars in new network equipment to transition their network to a virtualized infrastructure and move services from 3G and 4G to 5G. At the same time, they must safeguard their operations against the rising risks of disruptions and cyber threats. Therefore, the high cost of 5G network implementation restricts the market's adoption of 5G.

Regional Trends:
The North American 5G in the healthcare market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. This expansion can be ascribed to the widespread use of cutting-edge technology, the rise of IoT-enabled medical equipment, ongoing network connectivity improvements, and government initiatives for IoT.

With the research and development (R&D) efforts for 5G technology, network design and deployment, and the presence of significant market players, North America is the leading region for 5G infrastructure. Besides, the Asia Pacific is anticipated to grow at a considerable rate over the forecast period. Government plans to implement 5G in healthcare, and an increase in 5G-capable medical devices are other factors contributing to the growth. Furthermore, this development can be due to the huge uptake of cutting-edge technology, the rise of medical devices with loT capabilities, the constant improvement of network connectivity, and government initiatives for loT.

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Recent Developments:
• In February 2021, the U.S. Department of Veterans Affairs (V.A.) and AT&T collaborated to test the 5G-enabled healthcare advancements. By extensively examining 5G and multi-access edge computing (MEC) technology, the company was able to better deliver healthcare to the approximately 9 million Veterans who use V.A. healthcare services annually. It also assisted the company in boosting its revenue and R&D capabilities.
• In January 2019, to enhance communications, data processing requirements, and the patient experience, Rush University Medical Center teamed with AT&T (U.S.) to introduce the newest mobile communications technology to clinical care based on 5G.

Segmentation of 5G in the Healthcare Market-
By Offering-
• Hardware
• Serivces

By Application-
• AR/VR
• Virtual Consultations
• Remote Patient Monitoring
• Connected Ambulance
• Inventory Management Devices
• Others

By End Use-
• Healthcare Providers
• Healthcare Payers
• Pharmaceutical Companies

By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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