5G in Healthcare Market worth $3,667 million by 2026 - Exclusive Report by MarketsandMarkets™

 

5G in Healthcare Market by Component (Hardware, Connectivity, Services) Application (Remote Patient Monitoring, Connected Medical Devices, AR/VR, Connected Ambulance, Asset Tracking) End User (Healthcare Providers, Payers) - Global Forecast to 2026", published by MarketsandMarkets™, the 5G in Healthcare Market is projected to reach USD 3,667 million by 2026, at a CAGR of 76.3% between 2021 and 2026. The growing adoption of telemedicine and robotic surgery due to COVID-19 and the growing adoption of 5G-enabled wearable medical devices for real-time remote patient monitoring are key factors driving the growth of this market.

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The ability of 5G technology to transmit large patient data files quickly, advancements in telecommunication, and the availability of low-cost sensors are other major factors that are driving the growth of this market.

Market Segmentation

In this report, the 5G in healthcare market is segmented into component, application, end user, and region.

The Hardware segment accounted for the largest market share

Based on component, the 5G healthcare market is segmented into hardware, services, and connectivity. The hardware segment accounted for the largest share of the 5G in healthcare market This segment is projected to reach USD 1,871.7 million by 2026, at a CAGR of 76.0% during the forecast period.

The Connected Medical Devices segment accounted for the largest market share

Based on application, the 5G healthcare market is segmented into remote patient monitoring, connected ambulance, connected medical devices, asset tracking for medical devices, and AR/VR. The connected medical devices segment accounted for the largest share of the 5G in healthcare market in 2020. This application segment is projected to reach USD 1,405.3 million by 2026 from USD 94.5 million in 2021, at a CAGR of 71.6% during the forecast period.

The Healthcare Providers segment accounted for the largest market share

Based on end users, the market is segmented into healthcare providers, healthcare payers, and other end users. The healthcare providers segment accounted for the largest share of the 5G in healthcare market in 2020. This end-user segment is projected to reach USD 3,011.1 million by 2026 from USD 170.4 million in 2021, at a CAGR of 77.6% during the forecast period.

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Asia Pacific was the largest regional market for 5G healthcare market

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

Key Market Players

The prominent players in the 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), NTT DOCOMO (UK), NEC Corporation (Japan), Telefónica (Spain), Airtel (India), Huawei Technologies Co., Ltd. (China), and Cisco (US). These companies adopted strategies such as service launches, business expansions, agreements, partnerships, collaborations, and acquisitions to strengthen their presence in the 5G in healthcare market.

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