5G in Healthcare Industry Overview
The report "5G in Healthcare Market by Component (Hardware, Connectivity, Services) Application (Remote Patient Monitoring, Connected Medical Devices, AR/VR, Connected Ambulance, Asset Tracking) End User (Healthcare Providers, Payers) - Global Forecast to 2026", size is projected to reach USD 3,667 million by 2026, at a CAGR of 76.3% between 2021 and 2026.
Gather more insights about the market drivers, restrains and growth of the 5G in Healthcare Market
The introduction of 5G technology in healthcare has enabled the development of several advanced applications such as remote patient monitoring, telemedicine, and artificial intelligence. These advanced applications enable healthcare providers to provide better services to their patients and improve the overall efficiency of healthcare services.
5G technology is expected to provide better data security and enable healthcare providers to store large amounts of data securely. It can also help healthcare providers in reducing the time taken to process medical images and other medical data.
The increasing adoption of mobile devices and the growing demand for advanced healthcare monitoring systems are the major factors driving the 5G in healthcare market. The growing demand for advanced telemedicine services and the increasing adoption of connected healthcare systems are also expected to fuel the market growth.
The increasing investments in 5G technology by governments of various countries are expected to create favorable opportunities for the 5G in healthcare market. Companies operating in the market are also focusing on developing advanced 5G enabled healthcare solutions to meet the growing demand.
Asia Pacific was the largest regional market for 5G in healthcare market
The global 5G in healthcare market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East Africa. Asia Pacific accounted for the largest share of 33.8% of the global market. The APAC is the largest and fastest-growing region in the 5G in healthcare market.
Key Market Players
The prominent players in the 5G in healthcare market are ATT (US), Verizon (US), China Mobile Limited (China), Qualcomm (US), T-Mobile (US), Ericsson (Sweden), Telit (Poland), Telus (Canada), Vodafone (UK), Nokia (Finland), Samsung (South Korea), Deutsche Telekom AG (Germany), Orange S.A. (France), SK Telecom Co., Ltd. (South Korea), BT Group (UK), NTT DOCOMO (UK), NEC Corporation (Japan), Telefónica (Spain), Airtel (India), Huawei Technologies Co., Ltd. (China), and Cisco (US).
The study categorizes the 5G in healthcare market into following segments sub-segments:
By Component
- Hardware
- Services
- Connectivity
By Application
- Connected Medical Devices
- Remote Patient Monitoring
- AR/VR
- Asset tracking for medical devices
- Connected Ambulance
By End Users
- Healthcare Providers
- Healthcare Payers
- Other End Users
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Share Insights
- Cisco and Accedian: In February 2022, Cisco announced its acquisition of Accedian, a Montreal-based provider of 5G network performance solutions for the healthcare industry. The acquisition will strengthen Cisco’s 5G network portfolio and help healthcare customers optimize network performance, security, and reliability.
- ATT and Aira: ATT announced in October 2022 its acquisition of Aira, a San Diego-based provider of 5G-enabled remote healthcare solutions. The acquisition will help ATT expand its 5G capabilities in the healthcare industry and enable Aira to offer more comprehensive remote healthcare solutions to healthcare providers.
- Nokia and Vodafone: Nokia announced its acquisition of Vodafone’s 5G and IoT business in February 2023. The acquisition will strengthen Nokia’s 5G capabilities and help Vodafone create a more comprehensive 5G offering for healthcare customers.
- Qualcomm and Xilinx: Qualcomm announced in March 2023 its acquisition of Xilinx, a San Jose-based provider of 5G technologies for the healthcare industry. The acquisition will strengthen Qualcomm’s 5G portfolio and help healthcare customers optimize their networks for better performance and reliability.
- Ericsson and Cisco: Ericsson announced its acquisition of Cisco’s 5G and IoT business in May 2023. The acquisition will expand Ericsson’s 5G capabilities and help Cisco’s healthcare customers leverage 5G technology to improve patient care.
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