Here's How 5G in Healthcare Market Growing during 2024 - 2031 | AT&T Inc., Verizon, Ericsson, T‑Mobile USA Inc., Cisco Systems Inc., Telus Communications Inc., Telit, Orange S.A., Telefónica S.A., SAMSUNG, BT Group

5G in Healthcare Market estimated to grow at a compound annual growth rate (CAGR) of +32% during the forecast period (2024 - 2031).

The adoption of wearable medical devices powered by 5G technology, the ability of 5G technology to transfer enormous patient data files at light speed, and the availability of inexpensive sensors are the key market drivers propelling the industry's expansion.

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Top Key Players Profiled in This Report:
AT&T Inc., Verizon, Ericsson, T‑Mobile USA Inc., Cisco Systems Inc., Telus Communications Inc., Telit, Orange S.A., Telefónica S.A., SAMSUNG, BT Group and other prominent players.

The fundamental components of healthcare could all be changed and enhanced by 5G networks. Over the past several years, the use of 5G networks in healthcare has increased, and their applications have been strengthened by advancements in robotics, IoT, and AI that will change healthcare systems into a new connected ecosystem. The main challenge faced by healthcare systems is the fastest transmission of data.

The healthcare industry produces a vast amount of data. One patient may generate hundreds of gigabytes of data every day, which may include everything from patient medical records to the enormous image files generated by Magnetic resonance imaging, CAT, or PET scans. When the network capacity is constrained, the transfer of those massive data is slow or fails, which significantly slows the delivery of patient care.

The availability and capability of care can be improved by integrating high-speed 5G networks into current designs to help promptly and reliably move big data files of medical pictures. Therefore, the rising adoption of 5G networks in healthcare systems is expected to be the main driver of market growth in the next years.

The key questions answered in this report: -

1. What will be the Market Size and Growth Rate in the forecast year?
2. What are the Key Factors driving 5G in Healthcare Market?
3. What are the Risks and Challenges in front of the market?
4. Who are the Key Vendors in 5G in Healthcare Market?
5. What are the Trending Factors influencing the market shares?
6. What are the Key Outcomes of Porter's five forces model?
7. Which are the Global Opportunities for Expanding the 5G in Healthcare Market?

The adoption of 5G networks can offer significant computational abilities to operate virtual systems, boosting cloud deployment. The technology will strengthen the integration of IoT devices across medical facilities. The availability of digital networks and increasing access to broadband in several countries will represent new prospects for solution providers.

However, the high deployment cost of 5G networks may hamper the 5G in healthcare market expansion. The cost of 5G infrastructure is heavily influenced by various factors, such as required annual interest rate, throughput density, and base station pricing, which is over five times that of the lower frequencies deployed in 4G LTE. Also, in low-middle income nations, the high cost of 5G medical technologies and equipment could prevent most healthcare providers and payers from adopting 5G network.

Virtual consultations via 5G to expand reach of healthcare services

5G in healthcare market share from the virtual consultation applications was valued at more than USD 1 billion in 2021. The World Health Organization (WHO) encouraged medical institutes to conduct virtual consultations and use telemedicine as a primary practice to overcome the challenges associated with the COVID-19 pandemic. Several governments have since adopted supportive strategies to initiate these consultations.

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5G in Healthcare Market Segmentation by Component:
• Hardware
• Services
• Connectivity

5G in Healthcare Market Segmentation by Application:
• Connected Medical Devices
• Remote Patient Monitoring
• AR/VR
• Asset tracking for medical devices
• Connected Ambulance

5G in Healthcare Market Segmentation by End Users:
• Healthcare Providers
• Healthcare Payers
• Other End Users

5G in Healthcare Market by Regions:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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This release was published on openPR.