Global 5G in Healthcare Market Insights Forecasts to 2033

• The Global 5G in Healthcare Market Size was Valued at USD 2.60 Billion in 2023
• The Market Size is Growing at a CAGR of 34.05% from 2023 to 2033
• The Worldwide 5G in Healthcare Market Size is Expected to Reach USD 48.70 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global 5G in Healthcare Market Size is Anticipated to Exceed USD 48.70 Billion by 2033, Growing at a CAGR of 34.05% from 2023 to 2033.

Market Overview

The term 5G in healthcare describes the use of fifth-generation (5G) cellular network technology in the medical field. Comparing 5G to other cellular generations, far greater data transmission speeds and reduced latency are anticipated. The increased internet connectivity between devices at the point of treatment will enable novel applications in healthcare, including real-time mobile ultrasound, networked robotic assistance, remote surgery, and more. The global expansion of telehealth, virtual care, and remote patient monitoring services can be facilitated by the enhanced network capacity offered by 5G. The market is booming as a result of developing telecommunications innovation, the use of 5G-enabled wearable medical devices, the ability of 5G technology to download large patient data files quickly, and the availability of low-cost sensors. 5G networks have the potential to alter and improve all of the essential elements of healthcare. Advances in robotics, IoT, and AI demonstrate the applications of 5G networks, which have been used more frequently in the healthcare industry over the past few years. This will transform healthcare systems into a new linked ecosystem. 5G has a lot to offer and its strong connectivity, low latency, wide coverage, and high speed will transform the healthcare industry.

Report Coverage

This research report categorizes the market for the global 5G in healthcare market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global 5G in healthcare market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global 5G in healthcare market.

Driving Factors

The primary driver fueling the market's expansion is the growing use of robotic surgery and telehealth. Telehealth and robotic surgery have made it possible for patients to receive a quicker and more precise diagnosis as well as treatment. The potential 5G holds to transform AR and VR applications is driving its incorporation into the healthcare industry. 5G networks fast data rates and minimal latency improve AR and VR's realistic, real-time experience in medical situations. By facilitating faster and more reliable communication between medical professionals and patients, 5G deployment will improve the effectiveness of healthcare services.

Restraining Factors

The high cost of 5G network adoption is one of the main barriers to its adoption in the healthcare sector. The market growth of 5G in the healthcare sector will be restricted by the high manufacturing cost of 5G infrastructure, security issues, and record errors.

Market Segmentation

The global 5G in healthcare market share is classified into component, application, and end-user.

• The hardware segment dominates the market with the largest market share through the forecast period.

Based on the component, the global 5G in healthcare market is categorized into hardware, connectivity, services, and others. Among these, the hardware segment dominates the market with the largest market share through the forecast period. Because it is necessary to upgrade or replace equipment regularly to take advantage of the newest technology available. The hardware market is predicted to expand as a result of technological advancements and the rising demand for huge connections, ultra-low latency, and ultra-high bandwidth.

• 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 categorized 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. Due to a rise in senior citizens and an increase in the need for online health examinations. Remote patient monitoring enables medical professionals to collaborate with patients to self-manage diseases from home, driven by the increasing emphasis on patient-centric care models and costs to reduce hospital readmissions.

• The healthcare providers segment accounted for the largest revenue share through the forecast period.

Based on the end-user, the global 5G in healthcare market is categorized into healthcare providers, healthcare payers, and others. Among these, the healthcare providers segment accounted for the largest revenue share through the forecast period. The increase in patient quantity the number of hospitals and ambulatory care facilities expanding, the need for faster technologies that enable the rapid transfer of large data files, the growth of telehealth, and the growing use of wearable medical devices with 5G connections.

Regional Segment Analysis of the Global 5G in Healthcare Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global 5G in healthcare market over the predicted timeframe.

North America is projected to hold the largest share of the global 5G in healthcare market over the forecast period. Because of the significant presence of top 5G infrastructure suppliers and healthcare IT firms in the market. Compared to other locations, North America has been able to create dependable 5G networks throughout large hospitals and clinics more quickly. In government programs to implement 5G in the healthcare industry and the rise in 5G-capable medical devices. As more people become aware of the benefits of integrating 5G technology into healthcare products and services, the speed of adoption of the technology will increase.

Asia Pacific is expected to grow at the fastest CAGR growth of the global 5G in healthcare market during the forecast period. Due to the widespread use of cutting-edge technology, improved network connectivity, and a rise in government awareness campaigns about telehealth and the rollout of 5G in the healthcare sector. To strengthen telehealth, for example, the Chinese government and the health operator IHH Healthcare established a WeChat program in November 2020.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global 5G in healthcare 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.

List of Key Companies

• 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
• Others

    Key Target Audience

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

Recent Developments

• In March 2023, Qualcomm declared that it has acquired San Jose-based Xilinx, a supplier of 5G technologies to the medical field. Qualcomm's 5G portfolio will be strengthened by the acquisition, which will also assist healthcare clients in network optimization for increased dependability and performance.

• In May 2023, In owning Cisco Systems Inc., Ericsson (Sweden) was able to expanded, and Cisco's healthcare clients will be able to leverage 5G technology to improve patient care.

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