Get More Information on 5G In Healthcare Market - Request Sample Report
The 5G In Healthcare Market Size was valued at USD 25.2 billion in 2023 and is expected to reach USD 185.13 billion by 2031, and grow at a CAGR of 28.31% over the forecast period 2024-2031.
The fifth generation of cellular wireless technology, 5G, has the potential to deliver massive connectivity capacity and fast speeds that could help transform healthcare delivery. The Internet of medical devices could be affected by the 5G network. By using Augmented Reality, Virtual Reality, Artificial Intelligence AI, Remote Medical Education, Remote Patient Monitoring, and much more, it will help to enable medical innovation. Nowadays, it is important to be able to access near real time information and make split second decisions in the healthcare environment; 5G will have a positive impact on this industry over the forecast period. Better communication with high efficiency, faster diagnostics at lightning speed and transfer of large files, images or other content will result from the deployment of 5G in health care.
DRIVERS
The use of medical devices with 5G connectivity is becoming more and more widespread, which allows the monitoring of patients remotely.
Telecommunications have progressed
Telehealth and robotic surgery are becoming increasingly popular
The main driver of growth in this market is the increasing adoption of telemedicine and robotic surgical procedures. Telehealth and robotic surgery allow more efficient, precise diagnosis and treatment of patients. These technologies also allow patients to be monitored remotely, thereby increasing patient safety and convenience. The use of 5G will allow physicians and patients to communicate more quickly and reliably, which would improve the efficiency of medical care. In addition, the ability to perform remote surgical procedures that reduce the need for costly and time intensive in person surgeries will be made possible by improving 5G technology. This will lead to lower healthcare costs and better access for patients.
RESTRAINTS
The deployment of the 5G network has a high cost
There are many advantages for 5G in the healthcare market, e.g. quicker data exchange, more secure and reliable connections. However, the high cost of deploying a 5G network is one of the main barriers to its deployment on the healthcare market. Due to the need for new infrastructure and equipment, the cost of rolling out a 5G network is much more expensive than its predecessors such as 4G or 3G networks. In addition, the cost of devices equipped with 5G technology is also higher compared to those that are already in operation on existing networks. The growth of 5G in the healthcare market can be hampered by such high deployment costs and hardware.
OPPORTUNITIES
The high resilience and lower latency 5G networks will give rise to a new wave of health apps
The role of artificial intelligence in 5G healthcare
With its faster speeds, reduced latency and improved data accuracy, 5G technology is revolutionising the healthcare industry. This has made it possible for healthcare providers to obtain and analyze patient data in a timely and accurate way. In the healthcare sector, the combination of 5G technology and artificial intelligence could lead to massive improvements. Automated mundane tasks can be automated with AI, which makes it easier for healthcare providers to provide better treatment. In addition to creating personalised patient care plans, AI can analyse data for detecting anomalies and disease outbreaks as well as help healthcare providers make better decisions.
CHALLENGES
Data breach and security concerns
The growing use of 5G technology in the healthcare sector, a number of data breaches and security problems have a risen. It also opens up the possibility of data breaches and cyber-attacks as 5G allows for a higher level of storage, transfer or retrieval. Due to the high sensitivity of health information and the risk that it may pose to patients, the healthcare sector is particularly susceptible to these threats. Therefore, in order to ensure the security of their data, healthcare organisations are required to invest in strong protocols and encryption technologies.
The war between Russia and Ukraine is a geopolitical conflict which has implications for various sectors, including healthcare and 5G. It is difficult to predict with any certainty the impact of this conflict on the 5G healthcare market, which depends on a variety of factors and variables. The disruption of supply chains and manufacturing processes is one potential impact of the conflict on the 5G market in the healthcare sector. If the conflict escalates or remains unresolved, disruptions in production and distribution of 5G enabled healthcare equipment and devices as well as raw materials and components for their manufacture may be caused. This could lead to delays or shortages of 5G equipped healthcare products, which would have adverse effects on the growth and adoption of this technology.
Moreover, the potential impact of the conflict on this market is on the investment and funding for R&D. This could have a negative impact on investments and funding for 5G in healthcare research and development if the conflict exacerbates political tensions or economic instability across the region. This could slow innovation and inhibit the development of new healthcare products and services that are able to take advantage of 5G technologies. But the conflict can also be a catalyst for innovation and investments in 5G on the healthcare market. The need for more advanced and effective healthcare technologies is increasing as health systems are confronted with ever greater challenges and pressure.
By Component
In 2023, the hardware segment held the largest revenue share of over 70.2% due to the need to replace or upgrade devices at regular intervals in order to achieve optimum use of the latest technologies on the market, due to the necessity for frequent replacement. In addition, the opportunity for growth of the hardware segment is anticipated to be facilitated by advances in technology and growing demand for Ultra High bandwidth, massive connectivity or Low Latency.
By Application
In 2023, The remote patient monitoring segment accounted for the largest revenue share of over 61.0% due to the growing elderly population, as well as an increasing demand for telemedicine visits. In order to manage chronic conditions and to provide effective and proactive healthcare, remote patient monitoring is essential. The increasing burden of COVID 19 cases, increased healthcare costs and a growing consumer focus on individual health are also driving the market for Remote Patient Monitoring.
By End-Use
In 2023, the healthcare providers segment dominated the market with a revenue share of over 60.3% owing to the growing use of wearable medical devices with 5G technology, increasing demand for better technology, increasing patient numbers, and an increasing number of hospitals and ambulatory care centres. On the basis of end use, the market is split between healthcare providers and health insurance companies.
Need any customization research on 5G In Healthcare Market - Enquiry Now
The North America 5G in healthcare market is dominating the market during the forecast period owing to a number of factors contribute to the region's growth, including an increasing prevalence of coronary artery diseases (CAD) and a rapidly ageing population as well as new product launches by key market participants. The deployment of 5G technology in healthcare products and services will be accelerated by increasing awareness about the benefits associated with its introduction.
The Asia Pacific market for 5G in the healthcare sector is expected to grow at the fastest compound annual growth rate from 2024 to 2031. As a result of widespread use of cutting-edge technologies, improved network connectivity, increased government initiatives to increase public awareness of telehealth and 5G in the healthcare sector. In addition, the largest market share in the Asia Pacific region is held by China in the 5G healthcare market, and the fastest growing market in the Asia Pacific region is India in the 5G healthcare market.
Some of the major key players are as follows: AT&T Inc., Ericsson, Orange S.A., BT Group, Telus Communications Inc., Telit, Cisco Systems, Inc.,T‑Mobile USA, Inc., Telefónica, S.A., SAMSUNG, Verizon and other players.
In May 2023, Ericsson, Sweden, acquired Cisco Systems, Inc., U.S. The acquisition will make it possible to expand the 5G capabilities of Ericsson and allow Cisco's healthcare clients to benefit from this technology in order to improve care.
In February 2022, the acquisition of Accedian, a Montreal based provider of 5G network performance solutions for the healthcare industry, has been announced by Cisco. This acquisition will increase the portfolio of Cisco 5G networks and help health care customers improve network performance, security or reliability.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 25.2 Billion |
| Market Size by 2031 | US$ 185.13 Billion |
| CAGR | CAGR of 28.31% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
• By Component (Hardware, Connectivity, Services) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | AT&T Inc., Ericsson, Orange S.A., BT Group, Telus Communications Inc., Telit, Cisco Systems, Inc.,T‑Mobile USA, Inc., Telefónica, S.A., SAMSUNG, Verizon |
| DRIVERS |
• The use of medical devices with 5G connectivity is becoming more and more widespread, which allows the monitoring of patients remotely. • Telecommunications have progressed |
| RESTRAINTS |
• The cost of deploying a 5G network is extremely high. |
Ans: The 5G in Healthcare Market Size was valued at USD 25.2 Billion in 2023.
Ans: The 5G In Healthcare Market is to grow at a CAGR of 28.31% over the forecast period 2024-2031
Asia Pacific will hold the highest share of the global market.
Telecommunications have progressed, Low-cost sensors are available. are strict, are the drivers of Laboratory Informatics market.
AI's Importance in 5G Health, High resiliency and low latency are two of the most important factors to consider. A new wave of healthcare apps will benefit from 5G networks. are the opportunities of 5G in healthcare market.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.1.1 Introduction
5.1.2 United States
5.1.3 Canada
5.1.4 Germany
5.1.5 France
5.1.6 UK
5.1.7 China
5.1.8 Japan
5.1.9 South Korea
5.1.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. 5G In Healthcare Market Segmentation, by Component
9.1 Introduction
9.2 Trend Analysis
9.3 Hardware
9.4 Service
9.5 Connectivity
10. 5G In Healthcare Market Segmentation, by Application
10.1 Introduction
10.2 Trend Analysis
10.3 Remote Patient Monitoring
10.4 Connected Medical Devices
10.5 AR/VR
10.6 Connected Ambulance
10.7 Asset Tracking
11. 5G In Healthcare Market Segmentation, by End-use
11.1 Introduction
11.2 Trend Analysis
11.3 Oral
11.4 Topical
11.5 Transdermal
11.6 Parenteral
11.7 Rectal
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 AT&T Inc.
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 BT Group
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Ericsson
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Orange S.A.
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Cisco Systems, Inc.
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Telus Communications Inc.
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Telit
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 T Mobile USA Inc.
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Telefónica, S.A.
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 SAMSUNG
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Verizon
13.11.1 Company Overview
13.11.2 Financial
13.11.3 Products/ Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
By Component
Hardware
Service
Connectivity
By Application
Remote Patient Monitoring
Connected Medical Devices
AR/VR
Connected Ambulance
Asset Tracking
By End-Use
Healthcare Providers
Healthcare Payers
Request for Segment Customization as per your Business Requirement: Segment Customization Request
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
The Positron Emission Tomography (PET) Market size was estimated at USD 2.6 billion in 2023 and is expected to reach USD 4.35 billion by 2032 with a growing CAGR of 5.9% during the forecast period of 2024-2032.
The STD diagnostics Market was valued at USD 10.05 Bn in 2023 and is expected to grow to USD 18.78 Bn by 2032, growing at a CAGR of 7.2% from 2024 to 2032.
The Medical Image Analysis Software Market Size was valued at USD 3.26 billion in 2023 and is expected to reach USD 6.46 billion by 2032 and grow at a CAGR of 7.9% over the forecast period 2024-2032.
The Venous Leg Ulcer (VLU) Treatment Market Size was valued at USD 4.07 billion in 2023, and is expected to reach USD 7.3 billion by 2032, and grow at a CAGR of 6.7% over the forecast period 2024-2032.
The Weight Management Services Market Size was valued at USD 4.78 Billion in 2023, and is expected to reach USD 8.54 Billion by 2032, and grow at a CAGR of 6.95% over the forecast period 2024-2032.
The Patient Registry Software Market Size was evaluated at USD 16.79 billion in 2023, and is predicted to increase at a CAGR of 9.7% from 2024 to 2031, to reach USD 35.23 billion by 2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
