5G in Healthcare Market - Key Players & Growth Strategies Adopted by Them

 

Overview of This Study:

This study involved four major activities for estimating the current size of the 5G in healthcare market. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets.

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Major Growth Driving Factors:

Rising adoption of telehealth as well as robotics surgeries owing to the novel corona virus pandemic are two of the most important drivers for the enhancement of the global 5G in healthcare market in recent times.

 

Recent Developments in 5G in Healthcare Market

·         In January 2019, Rush University Medical Center partnered with AT&T (US) to bring the latest mobile communications technology to clinical care based on 5G to improve communications, data processing needs, and the patient experience.

·         In May 2019, Ooredoo (Qatar) worked with Ericsson (Sweden) to leverage 5G technology in ambulances to allow doctors to treat patients remotely by controlling a special haptic glove worn by the paramedic on the scene.

·         In February 2020, Emory Healthcare partnered with Verizon (US). Emory Healthcare is using Verizon’s 5G Ultra-Wideband to enhance augmented reality and virtual reality (AR/VR) applications for medical training, telemedicine, and remote monitoring, in addition to diagnostic and imaging systems from ambulances to ER.

·         In January 2020, China Telecom (China), ZTE (China), and West China hospital are facilitating the remote diagnosis of coronavirus via 5G.

·         In June 2020, ZTE (China), along with Huawei (China), built  5G demo sites for remote consultation and outpatient & image diagnosis.

 

Restraints: High cost of deployment of the 5G network

The cost of the 5G infrastructure depends heavily on the required throughput density, periodic interest rate, and base station price. The reduction of these costs is important for effective and ultra-dense small cell deployments. The challenge for CSPs in transitioning to 5G is to justify the multibillion dollars of investments in new network equipment required to transform their network to a virtualized infrastructure, move services from 3G and 4G to 5G, all while protecting their business against the ever-increasing risks of disruptions and cyber threats.

The prominent players in the 5G in healthcare market are AT&T (US), Verizon (US), China Mobile Limited (China), Qualcomm (US), T-Mobile (US), Ericsson (Sweden), Telit (Poland), Telus (Canada), Vodafone (UK), Nokia (Finland), Samsung (South Korea), Deutsche Telekom AG (Germany), Orange S.A. (France), SK Telecom Co., Ltd. (South Korea), BT Group (UK)

Different Growth Strategies Adopted by Them:

Market Competitive Analysis:

Top 10 players in this industry profiled in the report include. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.

The 5G in healthcare market is valued at an estimated USD 215 million in 2021 and is projected to reach USD 3,667 million by 2026, at a CAGR of 76.3% during the forecast period. The increasing adoption of telehealth and robotics surgery due to COVID-19 and the rising adoption of 5G-enabled wearable medical devices for real-time remote patient monitoring are key factors driving the growth of this market.

AT&T

AT&T is the leading player in the 5G healthcare market. AT&T provides its global SIM-enabled connectivity in more than 200 countries and across 500 carriers, which would provide fast and highly secure equipment connectivity to enterprises and help them deploy more devices using IoT and M2M technologies.

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Major Revenue Growth Expectations:

5G in Healthcare Market Size is projected to reach USD 3,667 million by 2026, at a CAGR of 76.3% between 2021 and 2026.