According to a research report published by Spherical Insights & Consulting, the Global 5G in Healthcare Market Size is Expected to Grow from USD 2.60 Billion in 2023 to USD 48.70 Billion by 2033, at a CAGR of 34.05% during the forecast period 2023-2033.

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5G in healthcare refers to using fifth-generation (5G) wireless technology to improve medical services and healthcare delivery. High-speed data transmission, low latency, massive connectivity, and reliability are features that make 5G enable innovative healthcare solutions. 5G is substantially faster than any previous cellular generation in data transmission speeds, and the latency is substantially reduced. This means transformational opportunities in healthcare in terms of real-time mobile ultrasound, networked robotic assistance, remote surgery at the point of care, and more. The capacity of the enhanced network being brought about by 5G drives the expansion of telehealth, virtual care, and remote patient monitoring services worldwide. Furthermore, the main factor driving the market’s growth is the increasing adoption of robotic surgery and telehealth. Telehealth and robotic surgery have enabled patients to receive a faster and more accurate diagnosis and treatment. 5G networks have high data rates and low latency enhancing the realistic, real-time experience of AR and VR in medical settings. However, the market hampered by the high trade cost of 5G infrastructure, safety issues, and record errors.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global 5G in Healthcare Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Connectivity, Services and Others), By Application (Remote Patient Monitoring, Connected Medical Devices, AR/VR, Connected Ambulance, Asset Tracking and Others), By End User (Healthcare Providers, Healthcare Payers and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

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The hardware segment is expected to hold the greatest market share through the forecast period.

On the basis of the component, the global 5G in healthcare market is divided into hardware, connectivity, services, and others. Among these, the hardware segment is expected to hold the greatest market share through the forecast period. This is the consequence of routinely upgrading or replacing equipment to utilize the most recent technological advancements. Technology developments and the growing need for massive connections, ultra-low latency, and ultra-high bandwidth are expected to drive growth in the hardware market.

The remote patient monitoring segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the application, the global 5G in healthcare market is divided into remote patient monitoring, connected medical devices, AR/VR, connected ambulances, asset tracking, and others. Among these, the remote patient monitoring segment is anticipated to grow at the fastest CAGR growth through the forecast period. This is attributed to the number of elderly individuals is growing and the demand for online health assessments is rising. With the growing emphasis on patient-centric care models and costs to reduce hospital readmissions, remote patient monitoring allows medical professionals to work with patients to self-manage diseases from home.

The healthcare providers segment is expected to hold the greatest revenue share through the forecast period.

On the basis of the end-user, the global 5G in healthcare market is divided into healthcare providers, healthcare payers, and others. Among these, the healthcare providers segment is expected to hold the greatest revenue share through the forecast period. This is attributed to the number of patients rising, hospitals, and ambulatory care centers growing, telehealth expanding, wearable medical devices with 5G connections becoming more popular, and faster technologies required to transfer large data files quickly.

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North America is expected to hold the greatest share of the global 5G in healthcare market over the projected timeframe.

North America is expected to hold the greatest share of the global 5G in healthcare market over the projected timeframe. North America has been able to establish reliable 5G networks across large hospitals and clinics faster than other regions. The growth of medical devices with 5G capabilities and government initiatives to introduce 5G in the healthcare sector. The rate at which 5G technology is adopted will accelerate as more people realize the advantages of incorporating it into healthcare goods and services.

Asia Pacific is expected to grow at a rapid CAGR growth of the global 5G in healthcare market during the forecast period. The consequence of increased government awareness campaigns regarding telehealth and the introduction of 5G in the healthcare industry, the ubiquity of advanced technology, and enhanced network connectivity. For instance, the Chinese government and the health operator IHH Healthcare launched a WeChat program in November 2020 to promote telehealth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global 5G in healthcare market are Cisco Systems, Inc, Nokia Corporation, Ericsson, BT Group, Fibocom Wireless Inc., Orange S.A., VerizonTelit Corporate Group, Deutsche Telekom AG, Quectel, Telus, Ericsson, T-Mobile, Deutsche Telekom AG, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development

• In September 2023, The Government of India’s Ministry of Development of the North Eastern Region opened the country’s first 5G training facilities and 5G health applications in each of the country’s eight North Eastern States. The Assam Electronic Development Corporation (AMTRON), a PSU of the Assam government, is carrying out the project with central funding provided by the North East Council (NEC).

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global 5G in healthcare market based on the below-mentioned segments:

Global 5G in Healthcare Market, By Components

• Hardware
• Connectivity
• Services
• Others

Global 5G in Healthcare Market, By Application

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

Global 5G in Healthcare Market, By End User

• Healthcare Providers
• Healthcare Payers
• Others

Global 5G in Healthcare Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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