5G in Healthcare Market to Hit USD 35557.05 Million by 2030 Driven by Rising Demand for Remote Patient Monitoring and Need for Faster and More Reliable Connectivity | Research by SNS Insider

The advancements in technologies such as artificial intelligence, the Internet of Things, and wearables are driving the adoption of 5G in healthcare, enabling real-time data collection, analysis, and communication.

Pune, April 27, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, the estimated value of the 5G in Healthcare Market was USD 379.26 million in 2022, and it is projected to reach USD 35557.05 Million by 2030, growing at a CAGR of 76.4% during the forecast period of 2023-2030.

Market Overview

5G technology is set to revolutionize the healthcare industry, transforming the way healthcare is delivered, and improving patient outcomes. 5G in healthcare refers to the use of the fifth generation of wireless technology to provide faster, more reliable, and more secure connectivity for healthcare applications and services. 5G technology is characterized by its high-speed data transfer capabilities, low latency, and high bandwidth, making it well-suited for a range of healthcare applications such as remote patient monitoring, telemedicine, and medical robotics.

Market Analysis

The global 5G in healthcare market is witnessing rapid growth owing to various factors such as the rising adoption of robotic surgery and telehealth. Telehealth, in particular, has emerged as a popular alternative to traditional in-person healthcare services, especially in remote and rural areas, where healthcare services are not readily accessible. The deployment of 5G technology has enabled high-quality telehealth services, including real-time video consultations and remote patient monitoring, enhancing the delivery of healthcare services. In addition, the increasing developments in telecommunication and the deployment of wearable medical devices with 5G technology have contributed to the growth of the market.

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Key Company Profiles Listed in this Report Are:

  • AT&T Inc.
  • BT Group
  • Ericsson
  • Orange S.A.
  • Cisco Systems, Inc.
  • Telus Communications Inc.
  • Telit
  • T‑Mobile USA, Inc.
  • Telefónica, S.A.
  • Verizon, and Others

5G in Healthcare Market Report Scope:

Report Attributes Details
Market Size in 2022 US$ 379.26 Million
Market Size by 2030 US$ 35557.05 Million
CAGR CAGR of 76.4% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
5G in Healthcare Market: Key Segmentation • By Component (Hardware, Connectivity, Services)
• By Application (Remote Patient Monitoring, AR/VR, Connected Medical Devices, Asset tracking for medical devices, Connected Ambulance)
• By End Users (Healthcare Providers, Healthcare Payers)
Key Regional Coverage North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

Impact of Russia-Ukraine Conflict on 5G in Healthcare Market Growth

The Russia-Ukraine conflict could have significant implications for the 5G in healthcare market, including disruption of the global supply chain, delays in deployment, and reduced international cooperation. The conflict could also impact international cooperation and collaboration on 5G technology development and standardization. The market is a global market, and international collaboration is crucial to ensure interoperability and standardization of 5G technology. However, the full impact of the conflict on the market remains to be seen, and it is important to closely monitor the situation and adapt to any changes as they occur.

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Key Regional Developments

The adoption of 5G technology in the healthcare industry has been gaining momentum globally, with North America and Asia Pacific taking the lead. North America has emerged as the frontrunner in the 5G in healthcare market, owing to the high adoption rate of advanced technologies in the region. The widespread use of smart devices and the increasing demand for high-speed internet have led to the growth of 5G in the healthcare sector.

Key Takeaway from 5G in Healthcare Market Study

  • The healthcare industry is experiencing a revolution with the adoption of 5G technology, and the connectivity segment is set to take the lead in this transformation. With its lightning-fast speed and low latency, 5G is poised to revolutionize the way healthcare is delivered, making it more efficient, accessible, and personalized than ever before.
  • The healthcare industry is on the brink of a new era of innovation with the adoption of 5G technology, and the remote patient monitoring segment is poised to dominate the market. With its ability to collect and transmit real-time patient data, remote monitoring is set to revolutionize the way healthcare is delivered, making it more efficient, accessible, and patient-centric than ever before.

Recent Developments Related to 5G in Healthcare Market

  • JACS Solutions and Baicells have announced their collaboration to launch a range of end-to-end private 5G solutions specifically designed for the healthcare industry. The new 5G solutions will enable hospitals and healthcare facilities to access secure and reliable network connectivity, offering significant improvements in patient care and outcomes.
  • GE Healthcare has announced the opening of its first 5G Innovation Lab in India, a state-of-the-art facility that will serve as a hub for the development of next-generation healthcare solutions. The lab will leverage the power of 5G technology to drive innovation and accelerate the delivery of cutting-edge healthcare products and services.

Table of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. 5G in Healthcare Market Segmentation, By Component

9. 5G in Healthcare Market Segmentation, By Application

10. 5G in Healthcare Market Segmentation, By End Users

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Conclusion

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