Meticulous Research®, a premier global market research firm, has released its latest report, ''5G in Healthcare Market by Component, Application, End User - Global Forecast to 2030.' The report forecasts that the 5G in healthcare market will soar to $166.1 billion by 2030, growing at a robust CAGR of 29.5%.
The market's growth is driven by several factors, including significant advancements in telecommunication technology, enhanced patient data transmission rates offered by 5G, and the increased adoption of telehealth and nursing robots post-COVID-19. Other contributing factors include the availability of low-cost sensors and the growing use of 5G-enabled medical devices for patient monitoring.
The market is segmented into components such as hardware, services (professional and managed), and connectivity. The hardware segment is expected to lead in 2023, driven by the necessity of upgrading devices for optimal technology use, the demand for ultra-high bandwidth, and the need for extensive connectivity.
Applications for 5G in healthcare span healthcare management software, remote healthcare (remote patient monitoring, virtual consultations, and video-enabled prescription management), AR/VR, medical device asset tracking, and connected medical devices. The remote healthcare segment is projected to grow the fastest, driven by the need for long-term home care, the increasing prevalence of chronic diseases, the aging population, and the rising demand for remote health checkups. The increased awareness and demand for telehealth consultations further contribute to this segment's growth.
In 2023, healthcare providers are anticipated to hold the largest market share, driven by the need for 5G services in medical device tracking, patient monitoring, and healthcare data management. The growth of ambulatory centers and hospitals and the high adoption of 5G-enabled medical devices further boost this segment.
Regionally, North America is forecasted to hold the largest market share, followed by Europe and Asia-Pacific. The U.S. is expected to lead within North America due to high disposable incomes, a growing number of chronic disease patients, supportive government investments in healthcare digitalization, and advanced 5G infrastructure.
Key Players:
The key players operating in the 5G in healthcare market are AT&T Inc. (U.S.), Verizon Communications Inc. (U.S.), LM ERICSSON TELEPHONE COMPANY (Sweden), T‑Mobile USA, Inc. (U.S.), Cisco Systems, Inc. (U.S.), TELUS Corporation (U.S.), Telit corporate group (U.S.), Orange SA (France), Telefónica, S.A.(Spain), SAMSUNG ELECTRONICS CO., LTD. (South Korea), BT Group plc (U.K.), NEC Corporation (Japan), and QUALCOMM Incorporated (U.S.).
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Key questions answered in the report-
Which are the high-growth market segments in terms of component, application, end user, and region/country?What was the historical market size for 5G in healthcare across the globe?What are the market forecasts and estimates for the period 2023–2030?What are the major drivers, restraints, challenges, opportunities, and trends in the global market of 5G in healthcare?Who are the major players in the global 5G in healthcare market?How is the competitive landscape, and who are the market leaders in the global 5G in healthcare market?What are the recent developments in the 5G in healthcare market?What are the different strategies adopted by the major players in the 5G in healthcare market?What are the geographical trends and high growth regions/countries?Contact Us:
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