5G In Healthcare Market Key Players Analysis - AT&T Inc., Verizon Communications, NEC Corporation, Cisco Systems, Inc., SK Telecom Co., Ltd.

InsightAce Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global 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 2034"

The global 5G in the healthcare market is estimated to reach over USD 1046.70 Billion by the year 2034, exhibiting a CAGR of 32.4% during the forecast period.

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5G technology represents a pivotal advancement in the healthcare industry, facilitating the development of a more efficient, cost-effective, and scalable healthcare ecosystem capable of addressing patient needs effectively. The adoption of 5G networks in healthcare has experienced significant growth in recent years. The convergence of robotics, the Internet of Things (IoT), and artificial intelligence (AI) is anticipated to further evolve healthcare systems into highly interconnected ecosystems, thereby amplifying the importance of 5G networks. Key factors driving market expansion include the increased use of robotic surgery and telehealth services. Additionally, advancements in telecommunications, the proliferation of 5G-enabled wearable medical devices, rapid transmission of large volumes of patient data, and the availability of affordable sensors are accelerating market growth. Collaborative initiatives by leading industry stakeholders and government agencies to support the integration of 5G technology within healthcare are also contributing to this upward trajectory. Furthermore, the escalating demand for faster and more reliable data communication within the healthcare sector is expected to sustain market development in the forthcoming years.

List of Prominent 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

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Market Dynamics
Drivers:
Information and Communication Technology (ICT) combined with medical expertise has consistently played a crucial role in advancing patient care. The global expansion of robotic surgery and remote diagnostic services is being propelled by rapid developments in ICT, which enable new possibilities for these procedures. Telemedicine, reliant on high-quality, real-time video transmission, necessitates robust network infrastructure capable of meeting these technical demands. Numerous countries have increasingly acknowledged the benefits of telemedicine and telehealth, implementing initiatives aimed at establishing comprehensive statewide telehealth coverage, clear reimbursement frameworks, and regulatory policies to facilitate telehealth operations. The superior capabilities of 5G technology have further accelerated the adoption of telehealth solutions, significantly contributing to market growth.

Challenges:
The transition from 4G to 5G technology entails substantial capital expenditure. The costs associated with base station deployment, ongoing interest rates, and throughput density requirements collectively influence the overall investment needed for 5G infrastructure. Achieving effective ultra-dense small cell deployment demands cost reductions in these areas. Communications Service Providers (CSPs) are required to invest billions of dollars to upgrade their network infrastructure toward a virtualized environment and transition services from legacy 3G and 4G systems to 5G. Simultaneously, they must address escalating risks related to network disruptions and cybersecurity threats. These significant financial burdens represent a primary obstacle to the broad adoption of 5G technology.

Regional Trends:
The North American healthcare 5G market is anticipated to secure a substantial revenue share and exhibit a strong compound annual growth rate (CAGR) over the forecast period. This expansion is driven by widespread adoption of advanced technologies, increased utilization of IoT-enabled medical devices, continual enhancements in network connectivity, and proactive government initiatives supporting IoT integration. With vigorous research and development activities focused on 5G technology, network design, and deployment, North America maintains a leadership position in 5G infrastructure. Concurrently, the Asia Pacific region is projected to witness significant growth, fueled by government strategies to incorporate 5G in healthcare, the rising availability of 5G-compatible medical devices, the adoption of innovative technologies, the proliferation of IoT-enabled devices, ongoing improvements in network connectivity, and supportive government policies promoting IoT adoption.

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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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This release was published on openPR.