5G in Healthcare Market To See Huge Growth By 2022-2028 | Telit, T?Mobile USA, Inc., Telefónica, S.A., SAMSUNG, Verizon, and other players.
This press release was orginally distributed by SBWire
Pune, Maharashtra — (SBWIRE) — 07/19/2022 — 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 in healthcare. In addition to distant sensors, clinical wearable, and billions of low-bitrate, low-energy connected health monitoring devices, 5G will serve as the IoT backbone infrastructure. By offering users improved connectivity and meeting their needs effectively, conveniently, correctly, and substantially, 5G in the healthcare business can open up a world of possibilities.
As per the recent market research study report by SNS Insider, the 5G in healthcare market is anticipated to reach USD 11426 million by 2028, with a CAGR of 76.4% over the forecast period of 2022–2028.
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Drivers, Restraints, Opportunities, and Challenges
The growth of the 5G in healthcare market is primarily being driven by the rising usage of telemedicine and robotic surgery as a result of COVID-19 and the rising deployment of 5G-enabled wearable medical devices for real-time remote patient monitoring. Other significant reasons propelling the expansion of this market include the capacity of 5G technology to send massive patient data files fast, developments in telecommunication, and the accessibility of inexpensive sensors. Medical practitioners can transport large patient data files more quickly with the help of solutions in the global 5G healthcare market. On the other hand, the high implementation costs linked to the market solutions for worldwide 5G in healthcare may limit market expansion in the ensuing years.
Impact of the COVID-19 Pandemic
The rollout of 5G services has already begun, and it is expected to disrupt several industries, including agriculture, the automotive, real estate, manufacturing, and industrial sectors, as well as the healthcare sector. The healthcare sector in particular has benefited greatly from the 5G network during this pandemic. A quicker connection is essential for providing remote healthcare services given the rise in online consultations and telehealth systems.
Market Segmentation
By Component
1.Hardware
2.Connectivity
3.Services
By Application
1.Remote Patient Monitoring
2.AR/VR
3.Connected Medical Devices
4.Asset tracking for medical devices
5.Connected Ambulance
By End Users
1.Healthcare Providers
2.Healthcare Payers
The hardware segment held the biggest market share for 5G in healthcare when broken down by component. The requirement for periodic replacement or upgrades to make the best use of the most recent software on the market is principally responsible for the huge proportion of this industry.
The 5G in healthcare market was dominated by the linked medical equipment category. The market for connected medical devices in the 5G in healthcare is further being driven by the high burden of COVID-19, rising healthcare expenses, strong government backing and initiatives, and the increased focus on the quality of care and patient safety.
The market for 5G in healthcare growth led by the healthcare providers group, according to end-user. The significant market share of this sector can be ascribed to the expanding number of hospitals, patients, and 5G-enabled wearable medical gadgets that facilitate the quick transfer of big data sets.
Regional Analysis
Asia-Pacific is predicted to experience the fastest growth of any region over the forecast period owing to growing senior population, increased investment in healthcare infrastructure, and rising awareness of 5G technology among healthcare professionals,. Additionally, the infrastructure for healthcare is being modernized more and more, which is giving industry participants new opportunities. North America is predicted to dominate the 5G in healthcare market on account of increasing expenditures in 5G infrastructure, technical breakthroughs, changing healthcare models, and the presence of significant industry players throughout the region.
Competitive Landscape Outlook
Some of the prominent companies present in the 5G in healthcare market include Cisco Systems, Inc., Verizon, AT&T Inc., T?Mobile USA, BT Group, SAMSUNG, Ericsson, Telefonica, S.A., Orange S.A., and Telus Communications Inc.
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Table Of Content
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine Ware
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. 5G In Healthcare Market Segmentation, By Component
8.1 Hardware
8.2 Connectivity
8.3 Services
9. 5G In Healthcare Market Segmentation, By Application
9.1 Remote Patient Monitoring
9.2 AR/VR
9.3 Connected Medical Devices
9.4 Asset Tracking For Medical Devices
9.5 Connected Ambulance
10. 5G In Healthcare Market Segmentation, By End Users
10.1 Healthcare Providers
10.2 Healthcare Payers
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest Of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest Of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest Of Latin America
12 Company Profiles
12.1 AT&T Inc.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS View
12.2 BT Group
12.3 Ericsson, Orange S.A.
12.4 Cisco Systems, Inc.
12.5 Telus Communications Inc.
12.6 Telit
12.7 T Mobile USA, Inc.
12.8 Telefonica
12.9 S.A.
12.10 SAMSUNG
12.11Verizon
13 Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14 Conclusion
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