5G in Healthcare Market by Component (Hardware, Services [Professional, Managed], Connectivity), Application (Healthcare Management, Remote Healthcare, AR/VR, Asset Tracking, Connected Medical Devices), End User (Payer, Provider) - 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 2024 to 2030. The fifth generation of cellular wireless technology has the potential to revolutionize healthcare with its high-speed connectivity. 5G technology is driving innovations in healthcare via mixed/augmented/virtual reality, remote medical learning, and artificial intelligence.

The healthcare domain is time sensitive and critical in nature thus, requires continuous access to real-time data and advanced medical technologies. The implementation of 5G technology in healthcare enables effective & improved communications and quick & efficient transmission of vast amounts of data to assist in the treatment of life-threatening diseases. The high computing and low latency capabilities of 5G can accelerate and enhance the rate of therapy and diagnosis exponentially.

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Increasing Adoption of 5G-enabled Medical Devices for Patient Monitoring is Driving the Market Growth

Remote patient monitoring is one of the key drivers for the proactive and efficient delivery of chronic disease management and healthcare services. Smart wearables, e-health devices, and connected sensors enable the collection and analysis of patient data without hospital visits and the need for face-to-face appointments, significantly reducing hospital stays and visits to hospitals.

5G connectivity offers remote patient monitoring at a large scale due to its high security and service reliability, increased connections per square kilometer, and high mobility. Furthermore, the benefits of 5G, such as ultra-low latency, high-speed connectivity, and high throughput, are expected to drive the adoption of 5G in healthcare during the forecast period.

Increasing use of Telehealth is Supporting the Market Growth

During the COVID-19 pandemic, consumers and healthcare providers increased the adoption of virtual care and telehealth services. Due to fear of infection, patients worldwide did not prefer visits to healthcare facilities. According to the data published by T-MOBILE US, INC. (U.S.) in 2021, over 51% of the population in the U.S. were concerned about visiting a hospital or any other healthcare facility during the initial stage of the pandemic. However, technology-enabled services allowed healthcare professionals to continue to address patient concerns and deliver efficient care services while mitigating the risk of infection to staff, clinicians, and patients. The high reliability and connectivity offered by 5G are expected to increase the adoption of telehealth services with advanced videoconferencing experience.

5G also provides a more flexible approach, supporting telehealth with a smartphone or tablet. Additionally, the implementation of 5G in telehealth further enables the fundamental democratization of healthcare. Patients are not restricted by location and can access top medical specialists or professionals despite residing in another country.

Key Findings in the Global 5G in Healthcare Market Study:

Based on component, in 2024, the hardware segment is expected to generate a large proportion of revenue

The need for technology upgradation or replacement in existing technology and the high demand for hardware supporting ultra-low latency and ultra-high bandwidth contribute to the market growth of this segment.

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 attributed to the increasing need for home healthcare services, the rising adoption of telehealth by healthcare providers, the increasing number of hospitals, the rising geriatric population, the growing demand for remote monitoring, and the shift towards remote management of chronic diseases.

Based on end user, in 2024, the healthcare providers segment is expected to account for the largest share of the market

The growth of this segment is attributed to the rising demand for efficient healthcare systems, the increasing investments in digital healthcare, the growing need for connected devices in hospitals, the increasing adoption of telehealth consultations, the surge in patient volume, and the growing need for high-speed connectivity to transfer of large volumes of patient data.

Asia-Pacific: Fastest growing regional market

The growth of this regional market is attributed to the increasing geriatric population, the rising prevalence of chronic diseases in developing nations, the increasing investments in the healthcare sector in developing countries such as China and India, the growing focus on digitizing the healthcare sector, and the increased adoption of smart medical devices for remote patient care. Furthermore, government initiatives to develop 5G infrastructure and the increasing investments by major market players are driving the growth of the 5G in healthcare market in Asia-Pacific.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players between 2020 and 2022. The key players profiled in the global 5G in healthcare market report 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), Telefónica, S.A.(Spain), SAMSUNG ELECTRONICS CO., LTD. (South Korea), BT Group plc (U.K.), NEC Corporation (Japan), and QUALCOMM Incorporated (U.S.).

Scope of the Report:

5G in Healthcare Market, by Component

• Hardware
• Services
  • Professional Services
  • Managed Services
• Connectivity

5G in Healthcare Market, 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, by End User

• Healthcare Providers
• Healthcare Payers
• Other End Users
  (Note: Other end users include pharmaceutical, educational, and research organizations.)

5G in Healthcare Market, by Geography

• North America
  • U.S.
  • Canada
• 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
• Middle East & Africa

Key questions answered in the report: