A comprehensive overview of the 5G in healthcare Market is recently added by UnivDatos Market Insights to its humongous database. The 5G in healthcare Market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the 5G in healthcare Market. The 5G in healthcare Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the 5G in healthcare Market at the global and regional levels. The Global 5G in healthcare Market is expected to grow at a CAGR of around 75% by 2027.
Market Overview
The demand for the 5G in the healthcare market is burgeoning on account of the rising adoption of 5G-enabled wearable medical devices for real-time remote patient monitoring and the increasing adoption of telehealth and robotics surgery due to COVID-19. Telemedicine involves a network that can establish real-time high-quality video, which often means wired networks. As per the report by Frost & Sullivan, telehealth will grow sevenfold by 2025, with a compounded annual growth rate of 38.2%, parallel with the emergence and rollout of 5G. The government efforts of several countries for the establishment of telemedicine & telehealth defined reimbursement policies, and a legal framework for telehealth practices is intensifying the market growth. For example, in April 2019, the Centers for Medicare & Medicaid Services (CMS) announced and finalized changes in Medicare’s telehealth policy to enable remote patient monitoring for patients to access the latest technology and improve the coordination of healthcare processes. In addition, the ability of 5G technology to transmit large patient data files at a faster speed, advancements in telecommunication, and the availability of low-cost sensors also drive the market growth. Moreover, the rising integration of Artificial Intelligence in solutions in the global 5G in the healthcare market also intensifies the market growth.
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Global 5G in healthcare Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Component, the market is primarily bifurcated into
· Hardware
· Services
· Connectivity
The Hardware segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. rising adoption of new technologies in healthcare and their high implementation drives the demand for hardware.
By Application, the market is primarily segmented into
· Connected Medical Devices
· Remote Patient Monitoring
· AR/VR
· Asset tracking for medical devices
· Connected Ambulance
Amongst Application, the Connected Medical Devices segment accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the forecast period 2021-2027. High burden of COVID-19, rising healthcare costs, strong government support as well as initiatives, and the growing focus on the quality of care and patient safety are intensifying the segment growth
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By End Users, the market is primarily segmented into
· Healthcare Service Providers
· Healthcare Payers
· Other End Users
Amongst End Users, the Healthcare Service Providers segment dominated the market in 2020 and is expected to grow at lucrative growth during the forecasted period owing to the rising need for an efficient healthcare system, growing patient volume, and an increasing number of hospitals and ambulatory care centers.
5G in healthcare Market Geographical Segmentation Includes:
· North America (United States, Canada, Rest of North America)
· Europe (Germany, United Kingdom, France, Spain, and Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
· Rest of the World
Asia-Pacific is expected to dominate the 5G in the healthcare market on account of the presence of a smaller number of vendors. In addition, the significant adoption of advanced technologies, increasing number of IoT-enabled medical devices, continuously enhancing network connectivity, and government initiatives for IoT also drive the market growth in the region.
The major players targeting the market includes
· AT&T
· Verizon
· China Mobile Limited
· T-Mobile
· Ericsson
· Telit
· Telus
· Vodafone
· Nokia
· Samsung SDS
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the 5G in healthcare Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the 5G in healthcare Market?
• Which factors are influencing the 5G in healthcare Market over the forecast period?
• What are the global challenges, threats, and risks in the 5G in healthcare Market?
• Which factors are propelling and restraining the 5G in healthcare Market?
• What are the demanding global regions of the 5G in healthcare Market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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