5G In Healthcare Market Will Grow the Fastest in the APAC Region

The 5G in healthcare market will touch USD 147 billion by 2030, powering at a rate of 17.6% in the next 7-8 years. This is because of the improving 5G infra, growing healthcare industry, rising count of launches of VR/ AR devices for medical uses, snowballing R&D investments by players, and surging requirement for high-speed connectivity.

The hardware category had the higher revenue in 2022, and it will continue dominating in the years to come as well. This is because of the increasing requirement for the replacement and upgradation of connected medical devices, for allowing them to make the best use of trailblazing technologies, and increasing need for high- or ultra-high bandwidths, low latency, and enormous connectivity.

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Basically, the growing use of the 5G technology for effective data transmission in telediagnosis, telerobotic surgeries, and wearable devices will power the growth of the industry.

Healthcare providers had the largest share, of 64%, in 2022, and this will maintain its dominance in the years to come.

This will be as a result of the increasing pace of progressions in the healthcare industry, growing number of hospitals and ASCs, mounting number of patients, mounting requirement for e-medicine, growing acceptance of 5G-integrated wearable devices, and increasing requirement for improved technologies for the faster sharing and stowing of large medical datasets.

The connected medical devices had the largest revenue share, of about 44%, in 2022, and it will power its dominance in the years to come.

This will be as a result of the increasing trend of telemedicine, increasing preference of patients for home-based care, growing traction for tailored care, and growing healthcare costs, along with the mounting emphasis of doctors on enhancing the excellence of care and patient safety.

North America 5G in healthcare market had the largest share, of 36%, in 2022, and it will maintain its position in the years to come. This is as a result of the well-developed healthcare infra, high income, increasing count of industry players, tech progressions, and favorable government funding scenario for the healthcare industry.

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APAC will grow the fastest in the years to come, credited to the increasing health consciousness as a result of government efforts, improving network connectivity, increasing electronics and electrical industry, where this kind of connected devices are mass-produced; and increasing investment by international players, which is a developing hub for this kind of technologies.

It is because of the rising integration of telemedicine and connected medical devices, the demand for 5G in healthcare will continue to do the same in the years to come as well.

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