Owing to the increased Adoption of Telehealth and IoMT has propelled the Growth of the 5G in healthcare Market in the Asia Pacific Region!

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.

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Moreover, owing to the significant adoption of advanced technologies, enhanced network connectivity, and increased government programs for raising awareness regarding telehealth and penetration of 5G in the healthcare industry. For instance, in November 2020, the health operator IHH Healthcare along with the Chinese government launched a WeChat program as an initiative to strengthen telehealth.

5G in healthcare Market is expected to grow at a CAGR of around 40% over the forecast period (2023-2030). Numerous variables, such as the rising incidence of chronic disease, the growing aging population, and the development of novel products by significant market rivals, are having an impact on the area industry’s growth. As the benefits of embedding 5G technology into healthcare products and services become more widely known, the adoption of the technology will quicken in the respective region.

Because of crucial lifestyle issues across the globe, the number is progressively rising every year. Innovative and reliable remote patient monitoring technologies are needed, driving regional industry trends, for better, continuous, and effective supervision of these patients.

Based on component, the market is fragmented into hardware, services, and connectivity. The Hardware segment dominated the market in 2022 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. Moreover, the rising adoption of new technologies in healthcare and their high implementation drives the demand for hardware. The main hardware components of 5G technology infrastructure include 5G small cell infrastructure and RAN towers.

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 2022 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. 5G infrastructure and connectivity provide the drug manufacturers an opportunity to place IoT-connected monitoring devices in the participants’ homes during clinical trials which reduce administrative overhead and processing costs. This brings down the price of each trial allowing pharma companies to trial more drugs every year. The availability of the data in real-time shortens the drug trial period. According to the renowned Irish-based multinational professional services company, 65% of consumers and 86% of doctors agree that wearables increase patients’ engagement with their health. This engagement is expected to decrease hospital costs by 16% over the next five years.

Based on end users, the market is fragmented into healthcare providers, healthcare payers, and other end users. The Healthcare Providers segment dominated the market in 2022 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, the 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 market growth.

5G in healthcare MarketSegmentation

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 USA, Inc.
• Telefonaktiebolaget LM Ericsson
• Telit
• TELUS
• Vodafone Idea Limited
• Nokia
• SAMSUNG SDS