The high demand for healthcare services in remote areas is providing new opportunities for the growth of the 5G infrastructure in healthcare market.
Covid-19 Impact & Market Status
The COVID-19 situation had severely impacted almost all the sectors. Due to lockdown, the situation became worse because due to the unavailability of transport and workers many patients could not get diagnosed by the medical team. Hence, they suffered in vain for treatment as the healthcare centers were flooding with COVID patients and they didn’t get the appointment on time. Hence the 5G market was a major source of increasing the strength of the healthcare sector. The 5G infrastructure support enabled the healthcare sector to provide various services to the patients that included diagnosis, monitoring, medicine recommendation, and much more
For the development of a smart healthcare system, the 5G infrastructure has provided various opportunities.
Various technologies are providing high support to the healthcare sector so that it can provide its services to remote areas. Hence, Various devices need high data connectivity to deliver their services and for this 5G infrastructure provides support for the timely delivery and operation of data and services respectively. In this way, doctors can keep a check on the health status of various remote patients, do their diagnoses, and provide required prescriptions. This helps in the connectivity of various services and physicians across the globe to perform various complex operations like cancer treatment via various complex robotic devices provided by the 5G technology.
Overall, this technology in combination with artificial intelligence, the internet of things, big data, etc. helps in the operation of various complicated surgeries with high precision.
The growing technologies and advancements in 5G infrastructure provide rapid delivery and effective services that drive the 5G infrastructure in healthcare market.
The main aim of all the industries in the market is to provide services to all remote areas so that they can expand their market. This provides new opportunities to the potential companies for their growth and development. The main requirement to achieve this target is the availability of various advanced services because connecting with remote areas is not easy as they don’t have various facilities for networking and development.
For this, the advancement in science and technology has brought up the solution in the form of 5G infrastructures that provide rapid delivery, effective networking, high connectivity, and various other services. With this, many industries can deliver heavy loads effectively in their pipeline that requires high-end data connectivity and speed. This is linked with communication, robotics, software platforms, cloud architecture, and many other applications. Hence, it covers a wide range of markets and is interconnected with various technologies that help it to increase its scope and provide services in all related sectors.
The Compound Annual Growth Rate (CAGR) of the global 5G infrastructure in healthcare market is expected to be 75.7% with increased market size of USD 3.85 Billion.
In the healthcare sector, diagnosis and treatment of remote patients have always been a crucial and difficult step due to various factors that limit the connectivity of medical staff and patients. Due to this, many patients have died as they were not able to get proper medical treatment or diagnosis of their disease. This has increased the death rate as people suffer from treatment and medicines in remote areas. To overcome this problem, the healthcare sector is using 5G infrastructure so that its services would be available to every patient irrespective of his location.
This solution comes with the installment of 5G networks and robots that help in the connectivity and monitoring of the patients respectively. Many robotic diagnosis platforms help patients to know about their diseases. These platforms can be online software applications that provide recommendations based on the symptoms or they can be regular monitoring systems that keep an eye on the patient to monitor their body functions and keep the doctor updated about their medical condition. In this way, a doctor can check more than one patient at a time and this is the current requirement as the number of patients is growing daily.
Various nations are increasing their expenditure on the 5G infrastructure in healthcare market as this helps them to increase the health ratio of their potential workers leading to the development of a nation. For this, various services like telehealthcare facilities are being provided to the patients. This includes telemedicine and other requirements along with proper diagnosis, monitoring, and regular checkup. In this way, 5G infrastructure has helped a lot in connecting the required subdomains with the healthcare sector so that various services can be provided to the patients.
Apart from this, various treatments like laser surgeries via robots require a high-end 5G infrastructure. These operations are complex and require skilled doctors for smooth operation. Hence, the whole healthcare sector is using 5G infrastructure to implement complex operation models and perform various operations that were not possible before. Various devices and tools use 5G infrastructure for their development and operation as it enables them to transmit data at a fast rate that helps in early and precise diagnosis of any disease.
Instead of its tremendous advantages, the initial implementation of 5G infrastructure is very expensive and this is one of the restrictions that limit the growth of the 5G infrastructure in healthcare market. The implementation of 5G services has various costs associated with it including base service cost, server cost, connectivity cost, and much more. Hence, it is not suitable for niche or small enterprises that generate low revenue. Also, the installment of 5G is quite complex, and the tools and devices offering 5G services require highly skilled operators for a better service experience.
Irrespective of high developmental cost, trending technologies like artificial intelligence, cloud computing, etc. are driving the 5G infrastructure market by providing backend support and new growth opportunities. This comes with the implementation and development of various AI-driven tools and applications that require high speed and connectivity for which 5G infrastructure is required.
The major players of the global 5G infrastructure in healthcare market are Sequans, AT&T, Quectel, Verizon, Fibocom Wireless Inc., China Mobile Limited, Qualcomm Technologies Inc., T-Mobile, Swisscom, Deutsche Telekom AG, Ericsson, Sierra Wireless, Orange S.A., Telit, Cisco, NTT DOCOMO, Telus, Huawei Technologies Co. Ltd., Vodafone, Airtel, Nokia, Telefonica, Samsung, NEC Co., BT Group, Capsule Technologies, and SK Telecom Co. Ltd.
Recent Innovations in Global 5G Infrastructure in Healthcare Market:
- In November 2021 Ericsson and Vodafone Idea have partnered together to improve 5G integration in healthcare.
5G Infrastructure In Healthcare Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 3.85 Billion|
|Growth Rate||CAGR of 75.7% during 2021-2028|
|Segment Covered||Component, Application, End-Users, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Sequans, AT&T, Quectel, Verizon, Fibocom Wireless Inc., China Mobile Limited, Qualcomm Technologies Inc., T-Mobile, Swisscom, Deutsche Telekom AG, Ericsson, Sierra Wireless, Orange S.A., Telit, Cisco, NTT DOCOMO, Telus, Huawei Technologies Co. Ltd., Vodafone, Airtel, Nokia, Telefonica, Samsung, NEC Co., BT Group, Capsule Technologies, and SK Telecom Co. Ltd.|
Key Segments of the Global 5G Infrastructure in Healthcare Market
Component Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Remote Patient Monitoring
- Connected Medical Devices
- Connected Ambulance
- Asset Tracking
End-Users Overview, 2018-2028 (USD Billion)
- Healthcare Providers
- Healthcare Payers
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa