5G In Healthcare Market is Anticipated to Witness High Growth Owing to Expanding Telehealth Applications

5G In Healthcare Market is Anticipated to Witness High Growth Owing to Expanding Telehealth Applications

5G networks provide low-latency communication as well as seamless connectivity which enables real-time remote diagnosis, consultation and treatment. It allows transmission of high-quality audio and video along with large medical files like radiology images, X-rays and MRI scans enabling healthcare providers to examine patients located at distant locations. 5G can support advanced telehealth solutions like remote surgeries through robotics and AR/VR based training programs for medical practitioners.

The Global 5G in Healthcare Market is estimated to be valued at US$ 22.60 Bn in 2024 and is expected to exhibit a CAGR of 30% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the 5G in healthcare are Ericsson, Telit, Verizon, Cisco, Orange S.A., Tata Elxsi, NEC Corporation, AT&T Inc., Fibocom Wireless Inc., BT Group, Huawei Technologies Co., Ltd., SK Telecom Co., Ltd., GE Healthcare. Expansion of 5G networks globally coupled with increasing adoption of digital health solutions post-Covid pandemic has enabled key players to target new growth opportunities. For instance, Ericsson and Telit have partnered to launch 5G-ready devices and modules for telehealth use cases.

Key opportunities in the market include development of AR/VR powered remote diagnostic systems, 5G In Healthcare Market Size  enabled wearable medical devices, robotic telehealth solutions and digital twin aided healthcare simulations. Growing willingness among patients and healthcare providers to adopt telehealth is supporting the demand.

Global expansion of 5G healthcare solutions is taking place owing to rising investments by telecom operators and medtech companies. While North America currently dominates the market, Asia Pacific is expected to witness fastest growth on back of China, Japan and South Korea's focus on smart healthcare infrastructure. In Europe, countries like Germany and UK are working on national 5G healthcare projects.

Market drivers include advantages of 5G networks like high speed, low latency and high reliability required for real-time health services. 5G can help address issues of limited availability of doctors in remote areas by expanding telehealth access. Capability of transmitting large medical files quickly for remote diagnostics is a key factor augmenting demand.

Market restraints comprise high deployment and maintenance costs of 5G networks which is deterring commercialization in underdeveloped regions. Limited skilled workforce needed to develop 5G healthcare applications and ensure cybersecurity also poses challenges. Regulatory uncertainties and lack of uniform 5G standards could hamper market growth during initial years.

Segment Analysis

Networks infrastructure equipment segment dominates the 5G in healthcare market currently as proper network infrastructure is vital for deployment of 5G. Within this, small cell equipment holds major share as these offers localized coverage in targeted areas of hospitals and clinics. Remote patient monitoring application segment is expected to witness highest growth during the forecast period. 5G ability to handle large number of connected devices simultaneously makes it suitable for accurate remote health monitoring of patients using IoT based wearable medical devices.

Global Analysis

North America holds largest share in the 5G in healthcare market currently due to technological advancements and increasing adoption of smartphones and IoT devices. Asia Pacific is expected to grow at fastest pace during the forecast period with countries like China, India, Japan and South Korea among the major contributors. This is attributed to rising healthcare infrastructure, government initiatives for deployment of 5G and increasing cases of chronic diseases that require remote monitoring support. Europe holds second position in terms of revenue and is expected to exhibit steady growth due to strong focus towards applications of 5G in medical sector by key players based in countries like UK, Germany and France.

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