Product Code: GVR-4-68039-962-1
5G In Healthcare Market Growth & Trends:
The global 5G in healthcare market size is expected to reach USD 454.7 billion by 2030, expanding at a CAGR of 40.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The IoT ecosystem is developing and is expected to enable networks to connect billions of devices. The demand for a real-time network with faster internet access and greater bandwidth has been driven by the development of modern technologies such as artificial intelligence, wired, and wireless communications, and machine learning. Moreover, the market is driven by the increasing demand for wearable medical devices incorporated with 5G technology for real-time remote patient monitoring and the rising acceptance of robotic surgery and telehealth.
The COVID-19 pandemic had a positive impact on the market owing to the adoption of telehealth and remote patient monitoring by medical professionals, medical institutions, and hospitals during the pandemic to monitor isolated COVID-19 patients and stop the further spread of the virus by monitoring patients through remote patient monitoring methods. Since the integration of several low-power devices is required for patient remote monitoring, 5G services can be effectively used to develop a proper remote monitoring infrastructure for patients. Furthermore, government bodies and hospitals made efforts to deploy 5G during the COVID-19 pandemic. For instance, in February 2020, the U.S. Veterans Affairs (VA) Healthcare System deployed 5G in the hospital to treat patients using remote patient monitoring and promote the use of telemedicine.
The key players are adopting strategies such as partnerships, mergers and acquisitions, product and service launches, agreements, joint ventures, collaborations, and expansion to strengthen their position in the market. In February 2020, China's first 5G-capable remote emergency rescue system was constructed by the Second Affiliated Hospital of Zhejiang University School of Medicine and China Mobile Zhejiang. This system consists of many supporting technologies, including VR immersive diagnosis and therapy, 5G-enabled remote ultrasonography, and a 5G-enabled emergency rescue command center.
5G In Healthcare Market Report Highlights:
- Hardware segment held the largest revenue share of 70.1% in 2023. The growth is driven by the frequent need for device replacements or upgrades to leverage the latest technologies.
- Services segment is anticipated to expand at the fastest CAGR during the forecast period. The growth is driven by the rising demand for enhanced connectivity for medical devices, faster and more reliable data transmission, and the improved mobile broadband and greater frequencies provided by 5G services.
- Remote patient monitoring segment accounted for the largest revenue share of over 64.0% in 2023. The growth is driven by the rising geriatric population and increasing demand for remote health checkups.
- Connected medical devices segment is expected to register the fastest growth rate from 2024 to 2030. The growth is attributed to increased demand for medical devices by consumers for daily health tracking, a rise in demand for telehealth devices, and the increasing trend of home healthcare.
- Healthcare providers segment dominated the market with the largest revenue share in 2023. This growth is attributed to increasing demand for better technologies, the growing use of wearable medical devices with 5G technologies, growing patient volume, and increasing adoption of 5G-based solutions by hospitals and ambulatory care centers.
- Healthcare payers segment is anticipated to expand at the fastest growth rate over the forecast period. Payers include both public and commercial insurance companies.
- North America 5G in healthcare market dominated globally and accounted for the largest revenue share of 34.5% in 2023.
- Asia Pacific 5G in healthcare market is expected to register the fastest growth rate over the forecast period. The growth is attributed to the significant adoption of advanced technologies, enhanced network connectivity, and increased government programs for raising awareness regarding telehealth and the penetration of 5G in the healthcare industry.
Table of Contents
Chapter 1. Research Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Component
- 1.1.2. Application
- 1.1.3. End Use
- 1.1.4. Regional scope
- 1.1.5. Estimates and forecast timeline.
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database.
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.2. Approach 1: Commodity flow approach
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Component outlook
- 2.2.2. Application
- 2.2.3. End Use
- 2.2.4. Distribution Channel
- 2.2.5. Regional outlook
- 2.3. Competitive Insights
Chapter 3. 5G In Healthcare Market Variables, Trends & Scope
- 3.1. Market Dynamics
- 3.1.1. Market driver analysis
- 3.1.2. Market restraint analysis
- 3.1.3. Market Opportunity Analysis
- 3.2. 5G In Healthcare Market Analysis Tools
- 3.2.1. Industry Analysis - Porter's Five Forces
- 3.2.1.1. Supplier power
- 3.2.1.2. Buyer power
- 3.2.1.3. Substitution threat
- 3.2.1.4. Threat of new entrant
- 3.2.1.5. Competitive rivalry
- 3.2.2. PESTEL Analysis
- 3.2.2.1. Political landscape
- 3.2.2.2. Economic landscape
- 3.2.2.3. Social landscape
- 3.2.2.4. Technological landscape
- 3.2.2.5. Environmental landscape
- 3.2.2.6. Legal landscape
- 3.2.3. COVID-19 Impact Analysis
Chapter 4. 5G In Healthcare Market: Component Estimates & Trend Analysis
- 4.1. Component Type Market Share, 2023 & 2030
- 4.2. Segment Dashboard
- 4.3. Global 5G In Healthcare Market by Component Type Outlook
- 4.4. Hardware
- 4.4.1. Market estimates and forecast 2018 to 2030 (USD Billion)
- 4.5. Service
- 4.5.1. Market estimates and forecast 2018 to 2030 (USD Billion)
Chapter 5. 5G In Healthcare Market: Application Estimates & Trend Analysis
- 5.1. Application Market Share, 2023 & 2030
- 5.2. Segment Dashboard
- 5.3. Global 5G In Healthcare Market by Application Outlook
- 5.4. Remote Patient Monitoring
- 5.4.1. Market estimates and forecast 2018 to 2030 (USD Billion)
- 5.5. Connected Medical Devices
- 5.5.1. Market estimates and forecast 2018 to 2030 (USD Billion)
- 5.6. AR/VR
- 5.6.1. Market estimates and forecast 2018 to 2030 (USD Billion)
- 5.7. Connected Ambulance
- 5.7.1. Market estimates and forecast 2018 to 2030 (USD Billion)
- 5.8. Asset Tracking
- 5.8.1. Market estimates and forecast 2018 to 2030 (USD Billion)
Chapter 6. 5G In Healthcare Market: End Use Estimates & Trend Analysis
- 6.1. End Use Market Share, 2023 & 2030
- 6.2. Segment Dashboard
- 6.3. Global 5G In Healthcare Market by End Use Outlook
- 6.4. Healthcare Providers
- 6.4.1. Market estimates and forecast 2018 to 2030 (USD Billion)
- 6.5. Healthcare Payers
- 6.5.1. Market estimates and forecast 2018 to 2030 (USD Billion)
- 6.6. Other End Users
- 6.6.1. Market estimates and forecast 2018 to 2030 (USD Billion)
Chapter 7. 5G In Healthcare Market: Regional Estimates & Trend Analysis, By Product, By Application, By End Use
- 7.1. Regional Market Share Analysis, 2023 & 2030
- 7.2. Regional Market Dashboard
- 7.3. Global Regional Market Snapshot
- 7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
- 7.5. North America
- 7.5.1. U.S.
- 7.5.1.1. Key country dynamics
- 7.5.1.2. Regulatory framework/ reimbursement structure
- 7.5.1.3. Competitive scenario
- 7.5.1.4. U.S. market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.5.2. Canada
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Regulatory framework/ reimbursement structure
- 7.5.2.3. Competitive scenario
- 7.5.2.4. Canada market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.5.3. Mexico
- 7.5.3.1. Key country dynamics
- 7.5.3.2. Regulatory framework/ reimbursement structure
- 7.5.3.3. Competitive scenario
- 7.5.3.4. Canada market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.6. Europe
- 7.6.1. UK
- 7.6.1.1. Key country dynamics
- 7.6.1.2. Regulatory framework/ reimbursement structure
- 7.6.1.3. Competitive scenario
- 7.6.1.4. UK market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.6.2. Germany
- 7.6.2.1. Key country dynamics
- 7.6.2.2. Regulatory framework/ reimbursement structure
- 7.6.2.3. Competitive scenario
- 7.6.2.4. Germany market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.6.3. France
- 7.6.3.1. Key country dynamics
- 7.6.3.2. Regulatory framework/ reimbursement structure
- 7.6.3.3. Competitive scenario
- 7.6.3.4. France market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.6.4. Italy
- 7.6.4.1. Key country dynamics
- 7.6.4.2. Regulatory framework/ reimbursement structure
- 7.6.4.3. Competitive scenario
- 7.6.4.4. Italy market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.6.5. Spain
- 7.6.5.1. Key country dynamics
- 7.6.5.2. Regulatory framework/ reimbursement structure
- 7.6.5.3. Competitive scenario
- 7.6.5.4. Spain market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.6.6. Norway
- 7.6.6.1. Key country dynamics
- 7.6.6.2. Regulatory framework/ reimbursement structure
- 7.6.6.3. Competitive scenario
- 7.6.6.4. Norway market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.6.7. Sweden
- 7.6.7.1. Key country dynamics
- 7.6.7.2. Regulatory framework/ reimbursement structure
- 7.6.7.3. Competitive scenario
- 7.6.7.4. Sweden market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.6.8. Denmark
- 7.6.8.1. Key country dynamics
- 7.6.8.2. Regulatory framework/ reimbursement structure
- 7.6.8.3. Competitive scenario
- 7.6.8.4. Denmark market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.7. Asia Pacific
- 7.7.1. Japan
- 7.7.1.1. Key country dynamics
- 7.7.1.2. Regulatory framework/ reimbursement structure
- 7.7.1.3. Competitive scenario
- 7.7.1.4. Japan market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.7.2. China
- 7.7.2.1. Key country dynamics
- 7.7.2.2. Regulatory framework/ reimbursement structure
- 7.7.2.3. Competitive scenario
- 7.7.2.4. China market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.7.3. India
- 7.7.3.1. Key country dynamics
- 7.7.3.2. Regulatory framework/ reimbursement structure
- 7.7.3.3. Competitive scenario
- 7.7.3.4. India market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.7.4. Australia
- 7.7.4.1. Key country dynamics
- 7.7.4.2. Regulatory framework/ reimbursement structure
- 7.7.4.3. Competitive scenario
- 7.7.4.4. Australia market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.7.5. South Korea
- 7.7.5.1. Key country dynamics
- 7.7.5.2. Regulatory framework/ reimbursement structure
- 7.7.5.3. Competitive scenario
- 7.7.5.4. South Korea market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.7.6. Thailand
- 7.7.6.1. Key country dynamics
- 7.7.6.2. Regulatory framework/ reimbursement structure
- 7.7.6.3. Competitive scenario
- 7.7.6.4. Singapore market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.8. Latin America
- 7.8.1. Brazil
- 7.8.1.1. Key country dynamics
- 7.8.1.2. Regulatory framework/ reimbursement structure
- 7.8.1.3. Competitive scenario
- 7.8.1.4. Brazil market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.8.2. Argentina
- 7.8.2.1. Key country dynamics
- 7.8.2.2. Regulatory framework/ reimbursement structure
- 7.8.2.3. Competitive scenario
- 7.8.2.4. Argentina market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.9. MEA
- 7.9.1. South Africa
- 7.9.1.1. Key country dynamics
- 7.9.1.2. Regulatory framework/ reimbursement structure
- 7.9.1.3. Competitive scenario
- 7.9.1.4. South Africa market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.9.2. Saudi Arabia
- 7.9.2.1. Key country dynamics
- 7.9.2.2. Regulatory framework/ reimbursement structure
- 7.9.2.3. Competitive scenario
- 7.9.2.4. Saudi Arabia market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.9.3. UAE
- 7.9.3.1. Key country dynamics
- 7.9.3.2. Regulatory framework/ reimbursement structure
- 7.9.3.3. Competitive scenario
- 7.9.3.4. UAE market estimates and forecasts 2018 to 2030 (USD Billion)
- 7.9.4. Kuwait
- 7.9.4.1. Key country dynamics
- 7.9.4.2. Regulatory framework/ reimbursement structure
- 7.9.4.3. Competitive scenario
- 7.9.4.4. Kuwait market estimates and forecasts 2018 to 2030 (USD Billion)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company/Competition Categorization
- 8.3. Key company market share/position analysis, 2023
- 8.4. Company Profiles
- 8.4.1. AT&T
- 8.4.1.1. Company overview
- 8.4.1.2. Financial performance
- 8.4.1.3. Technology Type benchmarking
- 8.4.1.4. Strategic initiatives
- 8.4.2. Verizon
- 8.4.2.1. Company overview
- 8.4.2.2. Financial performance
- 8.4.2.3. Technology Type benchmarking
- 8.4.2.4. Strategic initiatives
- 8.4.3. China Mobile International Limited
- 8.4.3.1. Company overview
- 8.4.3.2. Financial performance
- 8.4.3.3. Technology Type benchmarking
- 8.4.3.4. Strategic initiatives
- 8.4.4. Quectel
- 8.4.4.1. Company overview
- 8.4.4.2. Financial performance
- 8.4.4.3. Technology Type benchmarking
- 8.4.4.4. Strategic initiatives
- 8.4.5. Telit
- 8.4.5.1. Company overview
- 8.4.5.2. Financial performance
- 8.4.5.3. Technology Type benchmarking
- 8.4.5.4. Strategic initiatives
- 8.4.6. Telus
- 8.4.6.1. Company overview
- 8.4.6.2. Financial performance
- 8.4.6.3. Technology Type benchmarking
- 8.4.6.4. Strategic initiatives
- 8.4.7. Huawei Technologies Co., Ltd.
- 8.4.7.1. Company overview
- 8.4.7.2. Financial performance
- 8.4.7.3. Technology Type benchmarking
- 8.4.7.4. Strategic initiatives
- 8.4.8. Cisco System Inc.
- 8.4.8.1. Company overview
- 8.4.8.2. Financial performance
- 8.4.8.3. Technology Type benchmarking
- 8.4.8.4. Strategic initiatives
- 8.4.9. Orange
- 8.4.9.1. Company overview
- 8.4.9.2. Financial performance
- 8.4.9.3. Technology Type benchmarking
- 8.4.9.4. Strategic initiatives
- 8.4.10. NEC Corporation
- 8.4.10.1. Company overview
- 8.4.10.2. Financial performance
- 8.4.10.3. Technology Type benchmarking
- 8.4.10.4. Strategic initiatives