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5G in healthcare Market: Current Analysis and Forecast (2021-2027)

Region:Global

Product Code:UMHE21546

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Published On

November 2021

Total pages

251

About the Report

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. Nowadays, it is necessary to get access to the near real-time data, as well as to make split-second decisions in healthcare environments, and 5G will provide benefits to this sector in the forecast period. The implementation of 5G in healthcare will lead to better communications with high efficiencies, faster diagnostics at lightning speeds, transfers of massive files, images, and other content.
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. As per the report by Frost & Sullivan, telehealth will grow sevenfold by 2025, with a compounded annual growth rate of 38.2%, parallel with the emergence and rollout of 5G. The government efforts of several countries for the establishment of telemedicine & telehealth defined reimbursement policies, and a legal framework for telehealth practices is intensifying the market growth. For example, in April 2019, the Centers for Medicare & Medicaid Services (CMS) announced and finalized changes in Medicare's telehealth policy to enable remote patient monitoring for patients to access the latest technology and improve the coordination of healthcare processes. In addition, the ability of 5G technology to transmit large patient data files at a faster speed, advancements in telecommunication, and the availability of low-cost sensors also drive the market growth. Moreover, the rising integration of Artificial Intelligence in solutions in the global 5G in the healthcare market also intensifies the market growth.
However, some of the restraints in the market are the high cost of deployment of the 5G network and rising concerns over the security and safety of consumer data.
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. 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 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. 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 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.
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.

Scope of the Report

Products

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.

Companies

AT&T, Verizon, China Mobile Limited, T-Mobile, Ericsson, Telit, Telus, Vodafone, Nokia, and Samsung

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the 5G in Healthcare Market

2.2. Research Methodology of the 5G in Healthcare Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the 5G in Healthcare Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL 5G IN HEALTHCARE MARKET COVID-19 IMPACT

6 GLOBAL 5G IN HEALTHCARE MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY COMPONENT

7.1. Hardware

7.2. Services

7.3. Connectivity

8 MARKET INSIGHTS BY APPLICATION

8.1. Connected Medical Devices

8.2. Remote Patient Monitoring

8.3. AR/VR

8.4. Asset tracking for medical devices

8.5. Connected Ambulance

9 MARKET INSIGHTS BY END USERS

9.1. Healthcare Providers

9.2. Healthcare Payers

9.3. Other End Users

10 MARKET INSIGHTS BY REGION

10.1. North America 5G in Healthcare Market

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe 5G in Healthcare Market

10.2.1. Germany

10.2.2. U.K.

10.2.3. France

10.2.4. Spain

10.2.5. Rest of Europe

10.3. Asia Pacific 5G in Healthcare Market

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. Australia

10.3.5. Rest of Asia Pacific

10.4. Rest of World 5G in Healthcare Market

11 5G IN HEALTHCARE MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 5G IN HEALTHCARE MARKET OPPORTUNITIES

13 5G IN HEALTHCARE MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Competitive Landscape

17.1.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. AT&T

18.2. Verizon

18.3. China Mobile Limited

18.4. T-Mobile

18.5. Ericsson

18.6. Telit

18.7. Telus

18.8. Vodafone

18.9. Nokia

18.10. Samsung SDS

19 DISCLAIMER

Research Methodology

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