Global 5G in Healthcare Market

The 5G in the healthcare market is valued at USD 215 million in 2021, and it is estimated to reach USD 3,667 million by 2027 with a CAGR of 76.3% during the forecast period. The increasing adoption of 5G-enabled wearable medical devices for real-time remote patient monitoring is the key driver for the growth of the 5Gmarket. The ability of 5G technology to transmit large patient data files quickly, advancements in telecommunication, the accessibility of low-cost sensors are the other major factors driving the growth of this market. However, the high deployment of the 5G network is believed to slow down the growth of this market.

What is the 5G Healthcare Market?

With 5G, healthcare systems can allow mobile and other digital devices networks to handle telemedicine appointments, greatly increasing the program’s reach. When healthcare systems utilize this technology, patients can often get treated sooner and access specialists otherwise unavailable. 5G constitutes a big leap in cellular technology and healthcare by providing basic levels of connectivity to authorize a new health ecosystem, one that can meet the necessaries of patients and providers accurately, efficiently, low cost, conveniently, and at a substantial scale. This massive network will add billions of low-bitrates and low-energy connected health monitoring devices, remote sensors, and clinical wearables, with 5G providing a backbone infrastructure for IoT(internet of things).

Growth Driver

Increasing in the adoption of telehealth and robotics surgery

ICT (information communication and technology) and medical service providers have been a powerful combination for improvement for patient care for many years; remote diagnosis and robotic-assisted surgery are mostly used across the countries. The increasing pace at which ICT evolves means that even greater possibilities for these techniques are becoming a reality. Tele medicines have required a network that can support high-quality real-time video, which means wired networks. Many countries have shown growing support for telehealth and are starting to establish statewide telehealth coverage, defined reimbursement policies and a lawful framework for telehealth practices. The Medical centers for Medicare & Medicaid Services (CMS) declares and finalizes charges in Medicare’s telehealth policy to authorize remote patient monitoring for patients to access the latest and advanced technology and improve the coordination of health processes. The high standard of virtual care, coupled with the presence of 5G and its significant potential, healthcare delivery will transform to great levels the 5G Enhanced Mobile Broadband (eMBB) technology will enable remote support of quality healthcare while reducing patient exposure to contagion by minimizing in-person visits to doctor or healthcare facilities. For patients who cannot easily travel to their healthcare providers, 5G will allow the provider to visit them via telepresence systems.

Opportunities

Increase in the role of AI in 5G Healthcare

An AI-powered, real-time remote monitoring solution authorized the caregivers to passively detect changes in the conditions, reduce hospitalizations, and improve quality metrics. An AI and 5G-allow the devices to track users’ daily livelihood activities using novel gesture-detection algorithms and provide insights and portending analytics around them, including sleep quality, fall risk, fall detection, drinking/hydration, activity patterns, wandering, and UTI risk. These data deliver continuous clinical insights to healthcare contributors, helping them sustain good contact with and enrich the well-being of those under their care. The Internet of Things (IoT) enabled medical devices and AI-powered data analysis to streamline health monitoring and create a fully “connected” hospital. IoT can also support and assist in driving greater efficiencies in auxiliary functions such as logistics and supply chain.

Restrain

High cost of deployment of the 5G network

Increased use of automated healthcare technologies provides greater extend and productivity in healthcare delivery but has high-security risks due to the wider access. Almost one-third of data breaches result in medical identity theft in the healthcare industry, mainly due to the shortage of internal control over patient information, outmoded policies and methods or non-adherence to existing ones, and inadequate personnel training. 5G brings together applications dependent on data moving immediately in a real-time atmosphere. Regardless, it is not just about more rapid speeds to the smartphone; it is about connecting devices and machines to each other. But integrating these devices comes with its own set of concerns.

Pre Covid-19 Impact on global 5G Healthcare Market

Before the covid-19, Apps and wearables based upon AI can support 5G and machine learning for medical diagnosis and emergency care-related data analysis. Many key healthcare functions are beginning to use artificial intelligence (AI) to persistent potential diagnoses and conclude the best treatment plan for a specific patient. Additionally, AI can help predict which patients are more likely to have postoperative complications, allowing healthcare systems to provide early interventions when necessary. By moving to 5G networks, healthcare organizations can use the AI tools they need to provide the best care possible.

Covid-19 Impact on global 5G Healthcare Market

COVID-19 is a novel coronavirus.5G network could be transformed and improved in all the commentating components of healthcare, a subject mostly significant today as the spread of the coronavirus has put unrevealed stress on healthcare systems across the countries. The long desired fifth generation of cellular wireless technology is an uprising in healthcare with its high speed and enormous connection power. In company with its many first advantages, it will also empower medical innovations via extended reality (augmented/virtual/mixed reality), artificial intelligence, remote medical learning, patient care, and monitoring, to name a few. The healthcare domain’s critical and time-sensitive nature makes it even more essential to have continuous access to near real-time data to support and derive full use of the advanced technologies today. The applications of 5G in healthcare assure better and effective communications, efficient and fast transmission of large amounts of data for preliminary diagnosis of life-threatening diseases, coupled with low visibility and high accretion power to support and accelerate the growth of diagnosis and therapy steadily. Such applications of 5G technology would also be of great assistance when dealing with the unprecedented ImpactImpact of COVID-19 on healthcare systems worldwide.

Post Covid-19 Impact on global 5G Healthcare Market

Remote healthcare is being encouraged with the emergence of COVID-19 to reduce infection transmission and a load of patients at hospital premises. Remote services are contingent on physical infrastructure for 4G and 5G communication. 5G networks offer better services with a notable progress contrast & measure to prior generations. The innovation of 5G is to use intelligence-based communication tools to turn the world into a safe and interlinked digital society. Telehealth is a productive approach to secure and better healthcare and train medical professionals & service providers. Deep learning can also be considered an approach to ensuring better health services through the latest technology – 5G. Wireless communication technologies can help monitor the spread of viruses, improving the health and treatment processes. In disaster scenarios, hospitals are burdened with overwhelming patient admissions. Minimizing the physical contact between treatment seekers and physicians is an effective way to avoid this problem. Using IoMT (internet for medical things) products and robots in hospital and diagnostic centers will help reduce a hospital’s burden.

By Component Segmental Analysis

The 5G in the healthcare market is segmented into hardware, services, and connectivity based on the component segment. The hardware segment considers the highest share of the 5G in the healthcare market in 2020. This segment is estimated to reach USD 1,871.7 million by 2026, at a CAGR of 76.0% during the forecast period. The highest share of this segment is first to be connected to the need for regular upgradation or substitute to make optimal use of the latest software available in the market.

By End-user segmental Analysis

The 5G in the healthcare market is segmented into healthcare providers or suppliers, healthcare payers, and other end-users based on end-users. The healthcare providers segment considers the largest share of the 5G in the healthcare market in 2020. This end-user segment will hold USD 3,011.1 million by 2027. The largest share of the segment can be credited to the increase in the need for a well-planned healthcare system, increase in the patient volume, a growing number of hospitals and ambulatory care centers, growth in telehealth, increase in the acceptance of 5G-enabled wearable medical devices, and the increase in the demand for better advance technologies that help in the easy transfer of large data files.

By Region Segmental Analysis

The global 5G in the healthcare market is segmented into five major regions: APAC, South America, North America, Middle East & Africa and Europe. In 2020, Asia Pacific accounted for the highest share of 33.8% of the global market. The APAC is the largest and constantly-growing region in the 5G in the healthcare market. This growth can be attributed to the considerable acceptance of the latest and advanced technologies, increasing the number of IoT-enabled medical devices, continuously enhancing network connectivity and government initiatives for IoT.

Competitor Analysis

The companies adopted strategies such as service launches, expansions, agreements, partnerships to strengthen the 5G market are-AT&T, Verizon, China Mobile Limited, T-mobile, Ericsson, Telit, Telus, Vodafone, Nokia, Samsung, Deutsche Telekom, Orange SA, SK Telekom Co.Ltd., BT Group, NTT DOCOMO, ZTE, Huawei technologies, cisco Sierra wireless, Swisscom, Qualcomm, Fibocom wireless, Quectel, Sequams are the prominent key players in the global 5G in the healthcare market. Key stakeholders

• Market research and consulting firms
• Industry associations
• Global 5G Healthcare Companies
• Global 5G Healthcare providers
• Local government
• Regulatory bodies
• Suppliers
• Retailers

Recent Developments

• In January 2019, Rush University Medical Center collaborated with AT&T to bring the latest and new technology mobile communications to clinical care based on 5G for better communications, data processing needs, and the patient experience.
• In May 2019, Ooredoo worked with Ericsson to support 5G technology in ambulances to permit the doctors to treat patients remotely by authority for a special haptic glove worn by the paramedic on the scene.
• In February 2020, Emory Healthcare partnered with Verizon. Emory Healthcare is using Verizon’s 5G Ultra-Wideband to improve augmented reality and virtual reality (AR/VR) applications for medical education, telemedicine, and remote monitoring, in addition to diagnostic and imaging systems from ambulances to ER.
• In January 2020, China Telecom, ZTE, and West China hospitals promoted remote coronavirus diagnosis via 5G.
• In June 2020, ZTE and Huawei created 5G demo sites for remote consultation and outpatient & image diagnosis.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 3667 Million
The revenue forecast in 2027	USD 7.1021 Billion
Growth Rate	CAGR of 76.3% from 2021 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	AT&T, Verizon, China Mobile Limited, T-mobile, Ericsson, Telit, Telus, Vodafone, Nokia, Samsung, Deutsche Telekom, Orange S.A., SK Telekom Co.Ltd., BT Group, NTT DOCOMO, ZTE, Huawei technologies, cisco Sierra wireless, Swisscom, Qualcomm, Fibocom wireless, Quectel, Sequams.

Market Modelling

By Component

• Hardware
• Connectivity
• Services

By Application

• Remote Patient
• Monitoring
• Connected Medical Devices
• AR/VR
• Connected Ambulance
• Asset Tracking

By End-user

• Healthcare providers
• Payers

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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