The Global 5G in Healthcare market size is estimated to reach $3,092 million by 2026, growing at a CAGR of 61.2% over the forecast period of 2021-2026.

Global 5G in Healthcare Market Overview

5G offers speeds that are faster than its predecessor, 4G. Moreover, it provides rates that are 100x faster than the previous version. Hence, it can be attributed that the following is a quantum leap of achieving faster-paced activities, thereby reducing the latency aspect. Additionally, the throughput ratio which was being observed is 10x times faster than 4G.

Moreover, the connection density or the number of devices connected per unit area stands at 100 per part. Which from the previous version was close to 12 per part. The key participants would benefit from the 5G aspect differently, such as providers, payers, or pharmaceutical giants.

Further, COVID-19 showed the potential of 5G in the healthcare aspect, as the 5G enables devices could do more than just track equipment. It helped hospitals understand the vital variables such as bed occupancy levels and the general movement of people. Integration of 5G in the EMR systems could bring out unprecedented results.

Owing to the advent and advances in IoT, AI, and Robotics, along with the growing need to digitalize significant aspects of the healthcare setup, the 5G in the healthcare industry is projected to offer lucrative opportunities.

Impact of COVID-19:

The COVID-19 pandemic had a positive impact on the revenue part of healthcare around the world. Apparently, technology that plays a vital role in enabling accessible digital health services in pandemic conditions and against the recurrence of COVID-19 disease helped grow 5G systems and 5G-capable e-health solutions in the foreground.

Key Takeaways from Global 5G in Healthcare Market Report:

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level – for type, application, ancillary, end-users, and by different industry verticals.
• Understand the market dynamics – key driving factors, challenges, and hidden opportunities.
• Get in-depth insights on your competitor's performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.
• Analyze the sales and distribution channels across key geographies to improve top-line revenues.
• Understand the industry supply chain with a deep dive on the value augmentation at each step to optimize value and bring efficiencies in your processes.
• Get a quick outlook on the market entropy – M&As, deals, partnerships, product launches of all key players for the past four years.
• Evaluate the supply-demand gaps, import-export statistics, and regulatory landscape for more than the top 20 countries globally for the market.

Market Dynamics

Driver:  

The transformational opportune has readily aided the market.

Apart from suffering regular pain and agony, patients go through several operational challenges such as language barrier, distance barrier, and various others, which now has been readily solved by the advent of 5G. The transformational change now allows quick transmission of large imaging files. Due to the file's large sizes, the bandwidths are narrowed, reducing the overall transmission.

This culminates in patients waiting for long treatment times, while the healthcare providers lose the opportunity costs. Hence, 5G has and will ease transmitting vital information. Additionally, the telemedicine industry has been regularly demanding high-speed 5G servers as the entire model enables healthcare to supplement the needs of rural areas while uplifting the patient coverage in urban areas.

Lastly, the usage of remote monitoring presents excellent cost savings for hospitals in the long run as wearables carry the potential to decrease hospital costs by up to 16% in the coming five years.

Challenge: 

The privacy challenge looming around the implementation of 5G has hampered the market growth.

Patients have growing concerns over data theft, which are now primarily targeted at healthcare institutions. Medical records, undoubtedly the most sensitive piece of information, as they have the power to exploit one's life.

Attacks may also hinder revenue generation and the ability to recover costs promptly, mainly if they affect a hospital's ability to bill patients when financial records are compromised, or systems become locked.

The recovery time and costs associated with breaches of critical data pose significant financial burdens and hamper the ability of healthcare institutions to provide care, which could ultimately have human costs.

Moreover, cyber-attacks against healthcare institutions rose by over 55% in 2020 compared to the year before. Additionally, restoration of data, on average, took 236 days. Owing to such challenges, 5G in the healthcare market would face ready challenges.

By application, the market for Remote Patient Monitoring to grow at the highest CAGR during the forecast period.

The Remote Patient Monitoring is predicted to develop at the fastest rate of XX%. The senior population is rising, making it challenging to travel to hospitals or clinics. According to the CDC, 22% of the population will be aged by 2040 in the US, currently at 16%. The segment will register swift growth Owing to such conditions.

As a result, remote Patient Monitoring held a dominant market share in 2020. The following has been recognized as the critical driver for efficient and proactive healthcare services and chronic disease management. 5G has helped the segment by allowing reliability of patients on the security services and increasing the capacity for the number of connected devices per square kilometers.

By End-users, 5G in the Healthcare market for Payer's to grow at the highest CAGR during the forecast period.

The Payer's segment is estimated to be the fastest-growing during the projection period, with a CAGR of XX%. Payers refer to private insurance companies and governmental agencies. The insights about a patient's health can be shared directly with the Payer.

Moreover, they will benefit from the following program. For one, a patient's health can be cured at the right stage. Further, it will save costs for the medical insurance payers, as a cancer treatment toward the end-stage is far expensive than to treat it at the right stage.

The FY 2022 budget proposes $131.8billion in discretionary budget authority and $1.5 trillion in mandatory funding in the US. Pharmaceutical Companies. Providers held a dominant market share in the year 202o. Providers represent a broad category of hospitals, clinics, or even medical device manufacturers. Hospitals predominantly integrated 5G with EMR or electronic medical records to enhance customer satisfaction.

Geographical Overview

Asia-Pacific to account for the largest market share during the forecast period

Asia-Pacific held the largest share of the 5G in the Healthcare market in 2020, with a global market share of 38%. It is owing to the ready adoption the following region has seen in terms of advancement about 5G incorporation.

Moreover, South Korea-Taiwan-Japan- China has been the squadron leader in incorporating 5G in their setups. For example, Korea's Samsung Medical Center has become the first hospital in the world to use 5G technology for on-site medical procedures. Further, the hospital has established it as a 5G Smart Hospital powered by AI and other Digitals.

The Asia Pacific is also the fastest-growing over 2021-2026. It is due to low penetration in India, Pakistan, Indonesia, and the Philippines for the 5G. However, the government policies are rightly placed, which allow for the inclusion of 5G in the Healthcare Market.

Key Market Players

Key Players in the Global 5G in Healthcare Market consist of AT&T, Ericsson, Vodafone, Samsung, SK Telecom Co., Airtel, Huawei Technologies Co., Ltd., Cisco, Sierra Wireless, Qualcomm, among others.

Recent Developments:

• In February 2021, VA and Airforce test out 5G in hospital settings; further, VA's 5G powered hospitals are a sign of modernization in the federal medical space. Moreover, the application providers set out that the population is growing, costs are growing, and the healthcare provider is shrinking. The VA and agencies such as the Department of Defence are testing 5G to develop and validate healthcare applications that could improve patient care.
• In May 2021, Thailand hospital's 5G platform wrote a new prescription for improved healthcare. Investing in a new cloud-based communications platform that may serve as an early medical trial for the technology's use in the healthcare vertical. The partnership with Huawei to jointly develop a cloud-based unified management system and secure a 5G private network with edge computing capabilities.

Report Coverage and Scope

The report "Global 5G in Healthcare Market" by Research Informatic covers an in-depth, detailed analysis of the following segments, which are covered under the scope.

By Type

• Predictive
• Preventive
• Personalized
• Participatory

By Application

• Connected Medical Devices
• Remote Patient Monitoring
• AR/VR
• Connected Ambulance
• Others

By Ancillary

• IoT
• AI and ML
• Robotics
• Others

By End-users

• Providers
• Payers
• Pharmaceutical Companies

Geography

• North America
• Europe
• APAC
• RoW

Global 5G in Healthcare Market Growth, Trend and Forecast 2021-2028

Chapter 1 5G in Healthcare Market Overview
1.1 Product Overview and Scope of 5G in Healthcare
1.2 5G in Healthcare Market Segmentation by Type
1.2.1 Global Production Market Share of 5G in Healthcare by Type in 2020
1.2.1 Type 1
1.2.2 Type 2
1.2.3 Type 3
1.3 5G in Healthcare Market Segmentation by Application
1.3.1 5G in Healthcare Consumption Market Share by Application in 2020
1.3.2 Application 1
1.3.3 Application 2
1.3.4 Application 3
1.4 5G in Healthcare Market Segmentation by Regions
1.4.1 North America
1.4.2 China
1.4.3 Europe
1.4.4 Southeast Asia
1.4.5 Japan
1.4.6 India
1.5 Global Market Size (Value) of 5G in Healthcare (2014-2028)

Chapter 2 Global Economic Impact on 5G in Healthcare Industry
2.1 Global Macroeconomic Environment Analysis
2.1.1 Global Macroeconomic Analysis
2.1.2 Global Macroeconomic Environment Development Trend
2.2 Global Macroeconomic Environment Analysis by Regions

Chapter 3 Global 5G in Healthcare Market Competition by Manufacturers
3.1 Global 5G in Healthcare Production and Share by Manufacturers (2020 and 2020)
3.2 Global 5G in Healthcare Revenue and Share by Manufacturers (2020 and 2020)
3.3 Global 5G in Healthcare Average Price by Manufacturers (2020 and 2020)
3.4 Manufacturers 5G in Healthcare Manufacturing Base Distribution, Production Area and Product Type
3.5 5G in Healthcare Market Competitive Situation and Trends
3.5.1 5G in Healthcare Market Concentration Rate
3.5.2 5G in Healthcare Market Share of Top 3 and Top 5 Manufacturers
3.5.3 Mergers & Acquisitions, Expansion

Chapter 4 Global 5G in Healthcare Production, Revenue (Value) by Region (2014-2021)
4.1 Global 5G in Healthcare Production by Region (2014-2021)
4.2 Global 5G in Healthcare Production Market Share by Region (2014-2021)
4.3 Global 5G in Healthcare Revenue (Value) and Market Share by Region (2014-2021)
4.4 Global 5G in Healthcare Production, Revenue, Price and Gross Margin (2014-2021)
4.5 North America 5G in Healthcare Production, Revenue, Price and Gross Margin (2014-2021)
4.6 Europe 5G in Healthcare Production, Revenue, Price and Gross Margin (2014-2021)
4.7 China 5G in Healthcare Production, Revenue, Price and Gross Margin (2014-2021)
4.8 Japan 5G in Healthcare Production, Revenue, Price and Gross Margin (2014-2021)
4.9 Southeast Asia 5G in Healthcare Production, Revenue, Price and Gross Margin (2014-2021)
4.10 India 5G in Healthcare Production, Revenue, Price and Gross Margin (2014-2021)

Chapter 5 Global 5G in Healthcare Supply (Production), Consumption, Export, Import by Regions (2014-2021)
5.1 Global 5G in Healthcare Consumption by Regions (2014-2021)
5.2 North America 5G in Healthcare Production, Consumption, Export, Import by Regions (2014-2021)
5.3 Europe 5G in Healthcare Production, Consumption, Export, Import by Regions (2014-2021)
5.4 China 5G in Healthcare Production, Consumption, Export, Import by Regions (2014-2021)
5.5 Japan 5G in Healthcare Production, Consumption, Export, Import by Regions (2014-2021)
5.6 Southeast Asia 5G in Healthcare Production, Consumption, Export, Import by Regions (2014-2021)
5.7 India 5G in Healthcare Production, Consumption, Export, Import by Regions (2014-2021)

Chapter 6 Global 5G in Healthcare Production, Revenue (Value), Price Trend by Type
6.1 Global 5G in Healthcare Production and Market Share by Type (2014-2021)
6.2 Global 5G in Healthcare Revenue and Market Share by Type (2014-2021)
6.3 Global 5G in Healthcare Price by Type (2014-2021)
6.4 Global 5G in Healthcare Production Growth by Type (2014-2021)

Chapter 7 Global 5G in Healthcare Market Analysis by Application
7.1 Global 5G in Healthcare Consumption and Market Share by Application (2014-2021)
7.2 Global 5G in Healthcare Consumption Growth Rate by Application (2014-2021)
7.3 Market Drivers and Opportunities
7.3.1 Potential Applications
7.3.2 Emerging Markets/Countries

Chapter 8 5G in Healthcare Manufacturing Cost Analysis
8.1 5G in Healthcare Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Price Trend of Key Raw Materials
8.1.3 Key Suppliers of Raw Materials
8.1.4 Market Concentration Rate of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.3 Manufacturing Process Analysis of 5G in Healthcare

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
9.1 5G in Healthcare Industrial Chain Analysis
9.2 Upstream Raw Materials Sourcing
9.3 Raw Materials Sources of 5G in Healthcare Major Manufacturers in 2020
9.4 Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders
10.1 Marketing Channel
10.1.1 Direct Marketing
10.1.2 Indirect Marketing
10.1.3 Marketing Channel Development Trend
10.2 Market Positioning
10.2.1 Pricing Strategy
10.2.2 Brand Strategy
10.2.3 Target Client
10.3 Distributors/Traders List

Chapter 11 Market Effect Factors Analysis
11.1 Technology Progress/Risk
11.1.1 Substitutes Threat
11.1.2 Technology Progress in Related Industry
11.2 Consumer Needs/Customer Preference Change
11.3 Economic/Political Environmental Change

Chapter 12 Global 5G in Healthcare Market Forecast (2021-2028)
12.1 Global 5G in Healthcare Production, Revenue Forecast (2021-2028)
12.2 Global 5G in Healthcare Production, Consumption Forecast by Regions (2021-2028)
12.3 Global 5G in Healthcare Production Forecast by Type (2021-2028)
12.4 Global 5G in Healthcare Consumption Forecast by Application (2021-2028)
12.5 5G in Healthcare Price Forecast (2021-2028)

Chapter 13 Appendix