5G in Healthcare Market by Component (Hardware, Services, Connectivity), Application (Healthcare Management, Remote Healthcare, AR/VR, Asset Tracking, Connected Medical Devices), End User (Payer, Provider) - Global Forecast to 2030
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- Verizon Communications Inc.
- LM ERICSSON TELEPHONE COMPANY
- T-Mobile USA, Inc.
- Cisco Systems, Inc.
- TELUS Corporation
- Telit corporate group
- Orange SA
- Telefonica, S.A.
- ³²¹Ì SUNG ELECTRONICS CO., LTD.
- BT Group plc
- NEC Corporation
- QUALCOMM Incorporated
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LSH
5G in Healthcare Market Size, Share, Forecast, & Trends Analysis by Component (Hardware, Services [Professional, Managed], Connectivity), Application (Healthcare Management, Remote Healthcare, Connected Medical Devices), End User-Global Forecast to 2030
The 5G in healthcare market is projected to reach $166.1 billion by 2030 at a CAGR of 29.5% from 2023 to 2030.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report provides an analysis of key industry drivers, restraints, opportunities, and challenges.
The growth of this market is driven by the advancements in telecommunication technologies, the increased patient data transmission rate offered by 5G technology, the increasing adoption of telehealth and nursing robots after the COVID-19 outbreak, the availability of low-cost sensors, and the increasing adoption of 5G-enabled medical devices for patient monitoring.
The report offers a competitive landscape based on an extensive assessment of the product portfolios, geographic presence, and key strategic developments of leading market players during the last four years (2020-2023). The key players operating in the 5G in healthcare market are AT&T Inc. (U.S.), Verizon Communications Inc. (U.S.), LM ERICSSON TELEPHONE COMPANY (Sweden), T-Mobile USA, Inc. (U.S.), Cisco Systems, Inc. (U.S.), TELUS Corporation (U.S.), Telit corporate group (U.S.), Orange SA (France), Telefonica, S.A.(Spain), SAMSUNG ELECTRONICS CO., LTD. (South Korea), BT Group plc (U.K.), NEC Corporation (Japan), and QUALCOMM Incorporated (U.S.).
Based on component, in 2023, the hardware segment is expected to account for the largest share of the 5G in healthcare market. The segment's large share is attributed to the rising need to replace & upgrade devices to enable the use of the latest software and the rising demand for ultra-high bandwidth and ultra-low-latency connectivity.
Based on application, the remote healthcare segment is projected to register the highest growth rate during the forecast period. The growth of this segment is driven by the rising need for remote medical report analysis, real-time streaming, and remote patient data monitoring through wearables and health devices.
Based on end user, in 2023, the healthcare providers segment is expected to account for the largest share of the 5G in healthcare market. The largest share of this segment is attributed to the high adoption of 5G-enabled medical wearable devices, the rising prevalence of chronic diseases, the increasing number of ambulatory centers and hospitals, and the need for connected medical devices.
An in-depth analysis of the geographical scenario in the 5G in healthcare market provides detailed qualitative and quantitative insights into five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2023, North America is expected to account for the largest share of the 5G in healthcare market. Furthermore, in 2023, the U.S. is expected to account for the major share of the 5G in healthcare market in North America. Market growth in the U.S. is driven by high disposable incomes, the rising number of patients with chronic diseases, favorable government initiatives for the digitalization of the healthcare sector, and the availability of advanced infrastructure for the implementation of 5G services.
Scope of the Report:
5G in Healthcare Market Assessment-by Component
- Hardware
- Services
- Professional Services
- Managed Services
- Connectivity
5G in Healthcare Market Assessment-by Application
- Healthcare Management Software
- Remote Healthcare
- Remote Patient Monitoring
- Virtual Consultations
- Video-enabled Prescription Management
- Augmented Reality (AR)/Virtual Reality (VR)
- Asset Tracking for Medical Devices
- Connected Medical Devices
- Other Applications
Note: Other applications include smart wearables, connected ambulances, and medical/nursing telerobotics.
5G in Healthcare Market Assessment-by End User
- Healthcare Providers
- Healthcare Payers
- Other End Users
Note: Other end users include pharmaceutical, educational, and research organizations.
5G in Healthcare Market Assessment-by Geography
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
TABLE OF CONTENTS
1. Introduction
- 1.1. Market Definition
- 1.2. Market Ecosystem
- 1.3. Currency
- 1.4. Key Stakeholders
2. Research Methodology
- 2.1. Research Process
- 2.2. Data Collection & Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research
- 2.3. Market Assessment
- 2.3.1. Market Size Estimation
- 2.3.1.1 Bottom-up Approach
- 2.3.1.2. Top-down Approach
- 2.3.1.3. Growth Forecast
- 2.3.2. Market Share Analysis
- 2.4. Assumptions for this Study
- 2.5. Limitations for the Study
3. Executive Summary
4. Market Insights
- 4.1. Market Overview
- 4.2. Drivers
- 4.2.1. Advancements in Telecommunication
- 4.2.2. Growing Adoption of Telehealth
- 4.2.3. Increased Transmission Rate of Patient Data Files Using 5G Technology
- 4.2.4. Increasing Adoption of 5G-enabled Medical Devices for Patient Monitoring
- 4.3. Restraints
- 4.3.1. High Costs Associated with the Deployment of 5G Network
- 4.4. Opportunity
- 4.4.1. AI in 5G healthcare
- 4.5. Challenges
- 4.5.1. Data Breach and Security Concerns
- 4.6. Impact of COVID-19 on the 5G in Healthcare Market
5. Global 5G in Healthcare Market, by Component
- 5.1. Introduction
- 5.2. Component
- 5.3. Hardware
- 5.4. Services
- 5.4.1. Professional Services
- 5.4.2. Managed Services
- 5.5. Connectivity
6. Global 5G in Healthcare Market, by Application
- 6.1. Introduction
- 6.2. Healthcare Management Software
- 6.3. Remote Healthcare
- 6.3.1. Remote Patient Monitoring
- 6.3.2. Virtual Consultations
- 6.3.3. Video-enabled Prescription Management
- 6.4. Augmented Reality (AR)/Virtual Reality (VR)
- 6.5. Asset Tracking for Medical Devices
- 6.6. Connected Medical Devices
- 6.7. Other Applications
7. Global 5G in Healthcare Market, by End User
- 7.1. Introduction
- 7.2. Healthcare Providers
- 7.3. Healthcare Payers
- 7.4. Other End Users
8. 5G in Healthcare Market, by Geography
- 8.1. Introduction
- 8.2. North America
- 8.2.1. U.S.
- 8.2.2. Canada
- 8.3. Europe
- 8.3.1. Germany
- 8.3.2. U.K.
- 8.3.3. France
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Rest of Europe (RoE)
- 8.4. Asia-Pacific (APAC)
- 8.4.1. China
- 8.4.2. Japan
- 8.4.3. India
- 8.4.4. Rest of APAC (RoAPAC)
- 8.5. Latin America
- 8.5.1. Brazil
- 8.5.2. Mexico
- 8.5.3. Rest of Latin America (RoLATM)
- 8.6. Middle East & Africa
9. Competitive Landscape
- 9.1 Introduction
- 9.2 Key Growth Strategies
- 9.3 Competitive Benchmarking
- 9.4. Market Share Analysis (2022)
10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- 10.1. AT&T Inc.
- 10.2. Verizon Communications Inc.
- 10.3. LM ERICSSON TELEPHONE COMPANY
- 10.4. T-Mobile USA, Inc.
- 10.5. Cisco Systems, Inc.
- 10.6. TELUS Corporation
- 10.7. Telit corporate group
- 10.8. Orange SA
- 10.9. Telefonica, S.A.
- 10.10. SAMSUNG ELECTRONICS CO., LTD.
- 10.11 BT Group plc
- 10.12 NEC Corporation
- 10.13 QUALCOMM Incorporated
11. Appendix
- 11.1. Questionnaire
- 11.2. Available Customization