5G in Healthcare Global Market Report 2024 to 2033 | AT&T Inc., Verizon Communications Inc., Telefonaktiebolaget LM Ericsson, T-Mobile USA Inc

The Business Research Company recently released a comprehensive report on the Global 5G in Healthcare Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The 5g in healthcare market size has grown exponentially in recent years. It will grow from $0.64 billion in 2023 to $1.04 billion in 2024 at a compound annual growth rate (CAGR) of 62.6%. The growth in the historic period can be attributed to high-speed data transfer, low latency, increased network capacity.

The 5g in healthcare market size is expected to see exponential growth in the next few years. It will grow to $7.36 billion in 2028 at a compound annual growth rate (CAGR) of 63.0%. The growth in the forecast period can be attributed to increasing healthcare expenditure, increasing chronic diseases, increasing penetration of internet, growing users of smartphones. Major trends in the forecast period include ai and machine learning applications, iot expansion in healthcare, ar and vr for medical training, edge computing integration, telemedicine and remote monitoring advancements.

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Market Drivers and Trends:

The increasing adoption of telehealth is significantly driving the growth of the 5G in the healthcare market. Telehealth refers to the use of digital information and communication technologies such as computers and mobile devices (by patient or doctor) to access health care services remotely and manage patients' health care. Telehealth offers various advantages such as easy access to healthcare and medical specialists, services with limited mobility, time or transportation options, improved communication and coordination between healthcare professionals and patients, and support for self-management of health care. Telehealth is one of the significant applications that make use of 5G technology for providing prompt healthcare services. For instance, according to the Ministry of Health and Family Welfare, Government of India, the government's telemedicine service, eSanjeevani has surpassed 14 million teleconsultations in October 2021 from just 3 million consultations in March 2021. This rapid growth of telemedicine adoption needs high-speed connectivity that can be provided through 5G services. Hence, the increasing adoption of telehealth propels the 5G in the healthcare market growth.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

AT&T Inc., Verizon Communications Inc., Telefonaktiebolaget LM Ericsson, T‑Mobile USA Inc., Cisco Systems Inc., NEC Corporation, SK Telecom Co. Ltd., Fibocom Wireless Inc., Qualcomm Incorporated, Nokia Corporation, Huawei Technologies Co. Ltd., China Mobile Limited, Telus Corporation, Vodafone Group plc, Deutsche Telekom AG, Telefónica S. A., Bharti Airtel Limited, Sierra Wireless Inc., Swisscom AG, Quectel Wireless Solutions Co. Ltd., Sequans Communications, Koninklijke Philips N. V., Samsung Electronics Co. Ltd., HTC Corporation, Sony Corporation, Siemens Healthineers AG, Telit Communications Ltd., BT Group plc, NTT Docomo Inc., Doximity Inc.

5G in Healthcare Market 2024 Key Insights:

• The 5g in healthcare market size is expected to see exponential growth in the next few years. It will grow to $7.36 billion in 2028 at a compound annual growth rate (CAGR) of 63.0%.
• Telehealth Boom Drives 5G In Healthcare Market Growth As Connectivity Becomes Critical For Remote Healthcare Services
• 5G Revolutionizes Healthcare With Technological Advancements
• Asia-Pacific was the largest region in the 5G in healthcare market in 2023, and it is also expected to be the fastest-growing region in the forecast period

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