5G in Healthcare Market, (By Component: Hardware, Services, Connectivity. By End-User: Healthcare Providers, Healthcare Payers & Others. By Application: AR/VR, Remote Patient Monitoring, Connected Ambulance, & Others. By Region - North America, Europe , Asia-Pacific , LAMEA) - Global Market Analysis, Growth, Trends & Forecast, 2022 to 2032

The global 5G in healthcare market was valued at $0.26 billion in 2021 and it is expected to reach $3.67 billion at a CAGR of 25.8% between 2022 and 2032. The increasing use of telemedicine and robotic surgery is driving the global market. The market is expanding due to a rise in telecommunications innovation, the introduction of wearable medical devices powered by 5G technology, the ability of 5G technologies to download large patient data files at light speed, and the availability of cheap sensors. Additionally, the government and major industry players are increasing their efforts in the implementation of 5G in healthcare, which is accelerating market growth.

By region, North America accounted for the largest share of the global 5G in healthcare market. 

By enabling the necessary levels of connection for a new health ecosystem that can precisely, efficiently, cost-effectively, conveniently, and on a significant scale address the demands of patients and providers, 5G marks a significant advancement in cellular technology and healthcare. A new health ecosystem that can correctly, effectively, easily, affordably, and at a sizeable scale address the demands of patients and providers will be made possible by 5G, which promises to deliver the necessary levels of connection. Additionally, compared to 4G LTE networks, it can offer faster speeds, lower latency, and more capacity. One of the most rapid and reliable technologies ever created. That will have a big influence on how we live, work, and play and entail faster downloads and far less lag. Furthermore, with the help of 5G networks, businesses can create smart factories and fully utilize innovations like automation, artificial intelligence, augmented reality for problem-solving, and the Internet of Things (IoT). Operators can develop new sources of income with 5G. 

Source: SAI Research

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One of the industries with the quickest rate of growth is the healthcare sector, which places difficult demands on the network in terms of, among other things, data rate, latency, and capacity. With the help of 5G technology, healthcare providers may meet several new connectivity needs. More connection density, quicker speeds, the ability to ensure the quality of service, and lower latency are requirements for the capability to create new use cases. Modern technology is what's propelling the market. A revolutionary solution that could improve and transform patient care is being tested on the 5G network for use in healthcare. Major players in the 5G healthcare market are concentrating on creating cutting-edge technologies to strengthen their position in the industry.

However, the high cost of 5G network deployment could slow the market's expansion for 5G in healthcare. The required yearly interest rate, base station pricing, which is more than five times that of the lower frequencies used in 4G LTE, and other elements have a significant impact on the cost of 5G infrastructure. Additionally, in low-middle income countries, the high price of 5G medical technologies and equipment may deter the majority of payers and providers from implementing the network. 

Based on component type, the hardware segment holds most of the market share of 5G in healthcare. Healthcare procedures can be seamlessly digitalized using hardware that uses 5G solutions. In addition, the development of technology and the rise in demand for ultra-low latency, enormous connection, and high bandwidth are anticipated to create opportunities for the hardware market to expand. Wi-Fi, network hardware, and 5G tiny cells are a few examples of 5G hardware. Data transfer, telediagnosis, wearable technologies, and telerobotic surgery are just a few applications for 5G hardware. On the other hand, the services segment is also anticipated to accelerate market growth during the forecast period. Hence, the growth is attributable to the rising need for faster and more reliable data transfer, better mobile broadband, and the higher frequencies provided by 5G services, as well as the rising demand for better connectivity for medical devices. 

In terms of end-user type, the healthcare providers segment has been driving the market over the past few years. The adult population's rising prevalence of chronic diseases will increase patient traffic in healthcare facilities. This is linked to the growing need for better technologies, the expanding patient volume, the growing use of wearable medical devices with 5G technologies, and the growing number of hospitals and ambulatory care facilities.

Based on application type, the remote patient monitoring category accounted for the largest share of this 5G in the healthcare market. To effectively treat chronic conditions and provide pro-active healthcare, remote patient monitoring is essential. Additional factors driving the market for remote patient monitoring include increasing healthcare costs, consumers' greater focus on personal health, an aging population, and a rise in the demand for remote health checks.

Geographically, the North American region holds most of the market share and is estimated to hold its dominant position in the future. The expansion of the regional industry is being influenced by several factors, including the increased frequency of coronary artery disorders (CAD), the rapidly aging population, and novel product introductions by major market competitors. Additionally, it is anticipated that this region will have increased development potential as a result of government attempts to implement 5G in healthcare and an increase in the number of 5G-enabled medical devices. On the other hand, Due to the significant uptake of cutting-edge technologies, improved network connectivity, increased government initiatives to increase public awareness of telehealth, and the penetration of 5G in the healthcare sector, the Asia-Pacific region is also anticipated to experience the second-fastest market growth. 

According to the study, key players such as AT&T (U.S), China Mobile (China), Deutsche Telekom (Germany), Ericsson (Sweden), Nokia (Finland), Orange (France), SK (South Korea), Samsung (South Korea), Telus (Canada), Telit (U.S), Vodafone (U.K), Verizon Communications (U.S),  among others are leading the global 5G in healthcare market.

Scope of the Report:

The Global 5G in Healthcare Market Has Been Segmented Into:

 The Global 5G in Healthcare Market – by Component Type:

• Hardware
• Services
• Connectivity

 The Global 5G in Healthcare Market – by End-User Type:

• Healthcare Providers
• Healthcare Payers
• Others

The Global 5G in Healthcare Market – by Application Type:

• AR/VR
• Remote Patient Monitoring
• Connected Ambulance
• Connected Medical Devices
• Asset Tracking
• Others

The Global 5G in Healthcare Market – by Regions:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The U.K.
  • France
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • Australia
  • Rest of Asia Pacific
• LAMEA
• Middle East
  • Saudi Arabia
  • UAE
  • Others
• Latin America
  • Brazil
  • Chile
  • Others
• Africa
  • South Africa
  • Egypt
  • Others