About 5G in Healthcare
The healthcare vertical globally is all set for a paradigm change with increasing adoption of devices with sensing equipment, technology, and telemedicine evolution. 5G is the fifth generation of cellular wireless technology, which can offer massive connection power and fast internet speed for data transfer. In healthcare, according to sources a USD 76 billion revenue opportunity in 2026 for operators addressing healthcare transformation with 5G. For transformation to succeed, a collaboration between different players is essential.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. Powerful players in the healthcare industry have turned their attention to internet infrastructure in recent years, arguing that connectivity has become integral to healthcare access. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global 5G in Healthcare market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Capsule Technologies (United States), Ericsson (Sweden), Huawei Technologies (China), Intel Corp (United States), Samsung Electronics (South Korea), AT&T (United States), Verizon (United States), Cisco System (United States), SK Telecom (South Korea) and Fibocom Wireless (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Huawei (China) and Orange (France).
Segmentation Overview
AMA Research has segmented the market of Global 5G in Healthcare market by Type (Data Transmission, Wearable Devices, Telediagnosis, Telemonitoring, Telerobotic Surgery and Others), Application (Home Healthcare, Remote Medicine and Emergency Care, Healthcare Training, Therapeutic and Rehabilitative) and Region.
On the basis of geography, the market of 5G in Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End User, the sub-segment i.e. Hospitals will boost the 5G in Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Growing demand for real-time information and The Rise in Demand due to 5G will finally bring telemedicine into the healthcare Internet of Things
Market Growth Drivers:
The Increasing Demand for the Smart wearables and The Rising Adoption of the 5G in Healthcare due to Emergency Medical Services
Challenges:
The Concern Regarding the Connectivity
Restraints:
The Growing concern related to Data Privacy and Security
Opportunities:
Secure online consultations and remote procedures like robotic surgery will improve resource efficiency and meet consumer demands for greater convenience and freedom of choice. This technological transformation of the healthcare sector offers numerous opportunities.
Market Leaders and their expansionary development strategies
In July 2022, GE Healthcare announce launched of its 5G Innovation Lab in India, the first for the company across the globe. With the advantage of massive bandwidth, high data speeds, low latency, and highly reliable connectivity, 5G has the potential to disrupt the patient care continuum, transforming diagnosis, therapy, and prognosis, the company noted.
Key Target Audience
Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.