Introduction The global 5G in healthcare market is expected to grow at a significant rate in the coming years. The market is driven by the increasing demand for high-speed internet connectivity, the rising adoption of connected devices, and the need for better healthcare services. 5G technology offers several benefits to the healthcare industry, including improved connectivity, faster data transfer, and increased network reliability. This article provides an overview of the global 5G in healthcare market, including trends, forecast, and opportunities.
Market Overview The global 5G in healthcare market was valued at US$ 167 million in 2020 and is expected to reach US$ 3,077 million by 2028, with a CAGR of 45.2% during the forecast period. The market is segmented based on component, application, end-user, and geography.
Based on the component, the market is segmented into hardware, software, and services. The hardware segment is expected to dominate the market during the forecast period due to the increasing adoption of 5G-enabled devices in the healthcare industry. Based on application, the market is segmented into telemedicine, remote surgery, medical imaging, and others. The telemedicine segment is expected to dominate the market during the forecast period due to the increasing demand for remote healthcare services.
Based on end-user, the market is segmented into hospitals and clinics, ambulatory surgical centers, research laboratories, and others. The hospitals and clinics segment is expected to dominate the market during the forecast period due to the increasing adoption of 5G technology for improving patient care.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate the market during the forecast period due to the increasing adoption of 5G technology and the presence of a large number of market players in the region.
Trends and Drivers The increasing demand for high-speed internet connectivity and the rising adoption of connected devices are the key drivers of the global 5G in healthcare market. With the increasing use of connected devices, there is a growing need for high-speed internet connectivity, which is driving the demand for 5G technology in the healthcare industry. Additionally, the need for better healthcare services and the increasing adoption of telemedicine and remote healthcare services are driving the demand for 5G technology in the healthcare industry.
The use of 5G technology in the healthcare industry is also expected to improve patient care by enabling faster data transfer and increasing network reliability. With 5G technology, healthcare providers can offer better patient care by providing real-time information to healthcare professionals and improving patient monitoring. Furthermore, the use of 5G technology in remote surgery and medical imaging is expected to increase the accuracy and efficiency of these procedures.
Opportunities The global 5G in healthcare market offers several opportunities for market players. With the increasing demand for high-speed internet connectivity and the rising adoption of connected devices, there is a growing need for 5G technology in the healthcare industry. Additionally, the increasing adoption of telemedicine and remote healthcare services is expected to drive the demand for 5G technology in the healthcare industry.
Moreover, the increasing adoption of 5G-enabled devices in the healthcare industry is expected to create opportunities for market players in the hardware segment. Market players can also focus on developing software and services that are compatible with 5G technology to cater to the growing demand for 5G-enabled healthcare services.
Conclusion The global 5G in healthcare market is expected to grow at a significant rate in the coming years, driven by the increasing demand for high-speed internet connectivity and the rising adoption of connected devices. The market offers several opportunities for market players, including the development of 5G-enabled devices, software, and services.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Everest Market Insights journalist was involved in the writing and production of this article.