5G in Healthcare Market Size, Share & Industry Report [2032]
5G in Healthcare Market Size, Share & Industry Report [2032]
Segments - 5G in Healthcare Market by Component (Hardware, Services, and Connectivity), Application (Connected Medical Devices, Remote Patient Monitoring, and Others), End-user (Healthcare Providers and Payers), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024 – 2032
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| Report ID :HC-6622
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| 265 Pages
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Report Description
The global 5G in healthcare market size was USD 37.5 Billion in 2023 and is likely to reach USD 625.1 Billion by 2032, expanding at a CAGR of 36.7% during 2024–2032. The market growth is attributed to the increasing adoption of telehealth and robotic surgery and rising awareness for reliable communication.
5G technology in healthcare is an exception technology, transforming digital health. The new generation of wireless technology is promising advanced healthcare with high speed, reliability, and strong connectivity, which are tremendously important in healthcare. The impact of 5G in healthcare is multifaceted for enhancing the patient experience and the efficiency of healthcare system.
Impact of Artificial Intelligence (AI) in 5G in Healthcare Market
Integration of Artificial Intelligence is significantly boosting the opportunities in the market. The enhanced telemedicine technology and virtual consultation with 5G technology is providing high bandwidth for seamless and high-definition consultation. The virtual consultation is ensuring the accessibility of healthcare, especially in remote and underserved areas. The improvement in patient experience and reduction in the healthcare facilities is expected to fuel the global market during the forecast period.
5G in Healthcare Market Dynamics
Major Drivers
Increasing adoption of telehealth and robotic surgery is driving the global market exponentially. The rising awareness for the faster and reliable communication between doctors and patients is providing an efficient healthcare service with boosting the market. The increasing developments in telecommunication and deployment of wearable medical devices with 5G technology is fueling the market.
Existing Restraints
Requirement of large infrastructural cost is hampering the market. The deployment of a successful 5G system in healthcare requires robust infrastructure. Infrastructure such as 5G cell towers, particularly in remote areas is challenging. Furthermore, the transition to 5G technology in healthcare involves substantial cost, including the investments of novel equipment is restraining the global market.
Emerging Opportunities
5G technology facilitates the remote patient monitoring, allowing healthcare providers to track vital signs and patient data in real-time. Furthermore, the augmented reality and virtual reality is aiding into complex surgeries and medical training due to the low latency pf 5G. The patient rehabilitation and immersive offerings with interactive experience enhances the learning and treatment.
Scope of the 5G in Healthcare Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
5G in Healthcare Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2023 |
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Historic Data |
2017–2022 |
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Forecast Period |
2024–2032 |
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Segmentation |
Component (Hardware, Services, and Connectivity), Application (Connected Medical Devices, Remote Patient Monitoring, and Others), End-user (Healthcare Providers and Payers) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
AT&T; China Mobile International Limited; Cisco System Inc.; Huawei Technologies Co., Ltd.; NEC Corporation; Orange; Quectel; Telit; Telus; and Verizon |
Market Segment Insights
Regional Analysis
In terms of region, the global 5G in healthcare market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominates the global market in 2023 owing to the increasing availability of 5G-enabled medical devices. Moreover, the high awareness and adoption rate for the latest and advanced technologies is boosting the regional market. For instance,
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In August 2021, Biden Administration invested USD 19 million for the improvement of telehealth services in rural areas and expanding the telehealth innovations for the quality healthcare systems.
The market in Asia Pacific is projected to grow at a significant pace in the years to come owing to the increasing government initiatives for the adoption of the 5G technology. The enhanced network connectivity and rising awareness for the telehealth and remote patient monitoring is driving the regional market. For instance,
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In November 2020, the IHH healthcare along with the government of China launched the WeChat program for the enlargement of telehealth service across the region.
Segment Analysis
Component Segment Analysis
Based on component, the 5G in healthcare market is divided into hardware, services, and connectivity. The hardware segment held the largest share in the global market in 2023 owing to the growing demand do the ultra-bandwidth and massive connectivity. The need for frequent replacement or up-gradation of the devices to make the optimal use of the latest technologies is fueling the segment.
The services segment is anticipated to grow at a substantial CAGR during the forecast period due to the increasing demand for faster and reliable data transmission. The growing demand for better connectivity for medical devices is driving the segment. Furthermore, the need for an improved mobile broadband and greater frequencies offered by 5G service is boosting the segment.
Application Segment Analysis
On the basis of application, the global market is segregated into connected medical devices, remote patient monitoring, and others. The remote patient monitoring segment is anticipated to register a considerable CAGR in over the predicted period due to the increasing demand for remote health check-ups. The increasing preference of home-based healthcare setup for maintaining patient health records is fueling the segment.
The connected medical devices segment is projected to register a robust growth rate during the assessment years owing to the increasing demand for home health. Additionally, the rising demand for daily health tracking and telehealth services is boosting the segment.
End-user Segment Analysis
On the basis of end-user, the 5G in healthcare market is segmented into healthcare providers and payers. The healthcare providers segment registers a robust growth rate in 2023 due to the increasing burden of chronic health conditions. Moreover, the increasing demand for ambulatory surgical centers is driving the segment. The increasing number of hospitals and growing adoption of better technology is driving the segment.
The payer’s segment is expected to expand at a significant growth rate over the projection period due to the increasing number of health insurance policyholders. The increasing burden of chronic health conditions is fueling the segment significantly. The increasing adoption of 5G-enabled wearable medical devices and increasing demand for better technologies is furling the segment.
Segments
The 5G in healthcare market has been segmented on the basis of
Component
- Hardware
- Services
- Connectivity
Application
- Connected Medical Devices
- Remote Patient Monitoring
- Others
End-user
- Healthcare Providers
- Payers
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- AT&T
- China Mobile International Limited
- Cisco System Inc.
- Huawei Technologies Co., Ltd.
- NEC Corporation
- Orange
- Quectel
- Telit
- Telus
- Verizon
Competitive Landscape
Key players competing in the global 5G in healthcare market are AT&T; China Mobile International Limited; Cisco System Inc.; Huawei Technologies Co., Ltd.; NEC Corporation; Orange; Quectel; Telit; Telus; and Verizon
These players utilize several development strategies, such as product launches and acquisitions, to boost their global presence. For instance,
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In February 2023, Nokia and Vodafone 5G merged to acquire Vodafone’s 5G IoT business and improves the Nokia 5g capability. This is helping customers for a more comprehensive and advanced healthcare offerings to the customers.
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In February 2022, Cisco, announced the acquisition of Accedian. Accedian provides 5G network performance solution for the healthcare industry. The acquisition is expected to boost the Cisco 5G network’s portfolio and help the healthcare customers to optimize network performance and security.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. 5G in Healthcare Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. 5G in Healthcare Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. 5G in Healthcare Market - Supply Chain
4.5. Global 5G in Healthcare Market Forecast
4.5.1. 5G in Healthcare Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. 5G in Healthcare Market Size (000’ Units) and Y-o-Y Growth
4.5.3. 5G in Healthcare Market Absolute $ Opportunity
5. Global 5G in Healthcare Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. 5G in Healthcare Market Size and Volume Forecast by Types
5.3.1. Connected Medical Devices
5.3.2. Remote Patient Monitoring
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global 5G in Healthcare Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. 5G in Healthcare Market Size and Volume Forecast by End Users
6.3.1. Healthcare Providers
6.3.2. Payers
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global 5G in Healthcare Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. 5G in Healthcare Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global 5G in Healthcare Demand Share Forecast, 2019-2026
8. North America 5G in Healthcare Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America 5G in Healthcare Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America 5G in Healthcare Market Size and Volume Forecast by Types
8.4.1. Connected Medical Devices
8.4.2. Remote Patient Monitoring
8.4.3. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America 5G in Healthcare Market Size and Volume Forecast by End Users
8.7.1. Healthcare Providers
8.7.2. Payers
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America 5G in Healthcare Demand Share Forecast, 2019-2026
9. Latin America 5G in Healthcare Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America 5G in Healthcare Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America 5G in Healthcare Market Size and Volume Forecast by Types
9.4.1. Connected Medical Devices
9.4.2. Remote Patient Monitoring
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America 5G in Healthcare Market Size and Volume Forecast by End Users
9.7.1. Healthcare Providers
9.7.2. Payers
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America 5G in Healthcare Demand Share Forecast, 2019-2026
10. Europe 5G in Healthcare Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe 5G in Healthcare Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe 5G in Healthcare Market Size and Volume Forecast by Types
10.4.1. Connected Medical Devices
10.4.2. Remote Patient Monitoring
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe 5G in Healthcare Market Size and Volume Forecast by End Users
10.7.1. Healthcare Providers
10.7.2. Payers
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe 5G in Healthcare Demand Share Forecast, 2019-2026
11. Asia Pacific 5G in Healthcare Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific 5G in Healthcare Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific 5G in Healthcare Market Size and Volume Forecast by Types
11.4.1. Connected Medical Devices
11.4.2. Remote Patient Monitoring
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific 5G in Healthcare Market Size and Volume Forecast by End Users
11.7.1. Healthcare Providers
11.7.2. Payers
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific 5G in Healthcare Demand Share Forecast, 2019-2026
12. Middle East & Africa 5G in Healthcare Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa 5G in Healthcare Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa 5G in Healthcare Market Size and Volume Forecast by Types
12.4.1. Connected Medical Devices
12.4.2. Remote Patient Monitoring
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa 5G in Healthcare Market Size and Volume Forecast by End Users
12.7.1. Healthcare Providers
12.7.2. Payers
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa 5G in Healthcare Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global 5G in Healthcare Market: Market Share Analysis
13.2. 5G in Healthcare Distributors and Customers
13.3. 5G in Healthcare Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. AT&T
13.4.2. China Mobile International Limited
13.4.3. Cisco System Inc.
13.4.4. Huawei Technologies Co., Ltd.
13.4.5. NEC Corporation
13.4.6. Orange
13.4.7. Quectel
13.4.8. Telit
13.4.9. Telus
13.4.10. Verizon
Methodology
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