5G technology in healthcare is Prospering Owing to the increased Adoption of Telehealth and IoMT

5G in healthcare Market is expected to expand at a reasonable CAGR of around 75% during the forecast period (2021-2027). 5G, the fifth generation of cellular wireless technology, has the potential to provide massive connection power and fast speeds that can help transform healthcare delivery. 5G can impact the Internet of Medical Things (IoMT). Also, it will assist in enabling medical innovations by utilizing augmented reality, virtual reality, artificial intelligence (AI), remote medical learning, remote patient monitoring, and much more.

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The demand for the 5G in the healthcare market is burgeoning on account of the rising adoption of 5G-enabled wearable medical devices for real-time remote patient monitoring and the increasing adoption of telehealth and robotics surgery due to COVID-19. Telemedicine involves a network that can establish real-time high-quality video, which often means wired networks. 5G and telemedicine will encourage incremental improvements, as monitoring across patient populations can help suggest more efficient business models for healthcare facilities.

Based on Component, the market is fragmented into Hardware, Services, and Connectivity. The Hardware segment dominated the market in 2020 and is expected to grow at lucrative growth owing to the need for frequent up-gradation or replacement to make optimal use of the latest software available in the market.

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Based on Application, the market is fragmented into Connected Medical Devices, Remote Patient Monitoring, AR/VR, Asset tracking for medical devices, and Connected Ambulance. The Connected Medical Devices segment dominated the market in 2020 owing to the growing inclination towards home healthcare and growth in the telehealth market. Also, the high burden of COVID-19, rising healthcare costs, strong government support as well as initiatives, and the growing focus on the quality of care and patient safety are intensifying the segment growth.

Based on End Users, the market is fragmented into Healthcare Service Providers, Healthcare Payers, and Other End Users. The Healthcare Service Providers segment dominated the market in 2020 and is expected to grow at lucrative growth during the forecasted period owing to the rising need for an efficient healthcare system, growing patient volume, and an increasing number of hospitals and ambulatory care centers. Moreover, the growth in telehealth, rising adoption of 5G-enabled wearable medical devices, and the rising demand for better technologies that assist in the easy transfer of large data files also drive the market growth.

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For a better understanding of the market adoption of 5G in healthcare, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific is expected to dominate the 5G in the healthcare market on account of the presence of a smaller number of vendors. In addition, the significant adoption of advanced technologies, increasing number of IoT-enabled medical devices, continuously enhancing network connectivity, and government initiatives for IoT also drive the market growth in the region. Some of the major players operating in the market include AT&T, Verizon, China Mobile Limited, T-Mobile, Ericsson, Telit, Telus, Vodafone, Nokia, and Samsung. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Global 5G in healthcare Market Segmentation

Market Insight, by Component

• Hardware
• Services
• Connectivity

Market Insight, by Application

• Connected Medical Devices
• Remote Patient Monitoring
• AR/VR
• Asset tracking for medical devices
• Connected Ambulance

Market Insight, by End Users

• Healthcare Service Providers
• Healthcare Payers
• Other End Users

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Singapore
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• AT&T
• Verizon
• China Mobile Limited
• T-Mobile
• Ericsson
• Telit
• Telus
• Vodafone
• Nokia
• Samsung SDS