New York, June 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “5G in Healthcare Global Market Report 2022” – https://www.reportlinker.com/p06286057/?utm_source=GNW
The global 5G in healthcare market is expected to grow from $0.25 billion in 2021 to $0.40 billion in 2022 at a compound annual growth rate (CAGR) of 59.64%. The 5G in healthcare market is expected to reach $2.88 billion in 2026 at a CAGR of 63.90%.
The 5G in the healthcare market consists of the sale of 5G technology and services by entities (organizations, partnerships, and sole proprietors) that refers to 5G technology and services used by healthcare institutions for telehealth, data management, real-time remote monitoring, and other applications. 5G technologies and services provide faster connectivity, lower latency, and increased bandwidth for improved patient care. 5G widens the huge potential for healthcare stakeholders to restructure, transition to holistic data-driven individualized care, improve medical resource use, provide convenience in care delivery, and increase patient value.
The main components of 5G in healthcare includes hardware, services, and connectivity.The 5G hardware refers to components such as 5G small cells or similar hardware to enable seamless and uninterrupted 5G connections in healthcare.
They are used in operations of data transmission, wearable devices, telediagnosis, telemonitoring, telerobotic surgery, and others. They are used by healthcare providers, healthcare payers, and other end-users.
Asia-Pacific was the largest region in the 5G in healthcare market in 2021, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the 5G in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing adoption of telehealth is significantly driving the growth of the 5G in the healthcare market.Telehealth refers to the use of digital information and communication technologies such as computers and mobile devices (by patient or doctor) to access health care services remotely and manage patients’ health care.
Telehealth offers various advantages such as easy access to healthcare and medical specialists, services with limited mobility, time or transportation options, improved communication and coordination between healthcare professionals and patients, and support for self-management of health care.Telehealth is one of the significant applications that make use of 5G technology for providing prompt healthcare services.
For instance, according to the Ministry of Health and Family Welfare, Government of India, the government’s telemedicine service, eSanjeevani has surpassed 14 million teleconsultations in October 2021 from just 3 million consultations in March 2021.This rapid growth of telemedicine adoption needs high-speed connectivity that can be provided through 5G services.
Hence, the increasing adoption of telehealth propels the growth of the 5G in the healthcare market.
Technological advancement is a key trend gaining popularity in the 5G in the healthcare market.Technological advancements include the use of the 5G network in healthcare to test and bring a new solution that can improve and transform patient care.
Major companies operating in the 5G in the healthcare market are focused on developing innovative technologies to strengthen their market position.For instance, in February 2020, Verizon, a telecom company based in the USA, and Emory Healthcare, a healthcare system based in the USA, formed a strategic partnership to create and test 5G Ultra Wideband-enabled use cases that could revolutionize the healthcare market.
As part of the collaboration, Verizon provides the 5G Ultra Wideband service to the Emory Healthcare Innovation Hub (EHIH), making it the USA’s first 5G healthcare innovation center. EHIH is a healthcare advancement and commercialization program dedicated to enhancing the healthcare provider experience and patient care.
In July 2019, Cisco Systems Inc, a USA-based company involved in IT and networking services, acquired Acacia Communications for $2.84 billion in cash. The acquisition will strengthen Cisco’s technology for service providers transitioning to 5G and position the company’s optical portfolio ahead of the shift towards plug-and-play devices across various communication segments. Acacia Communications is a USA-based optical networking strategy and technology company involved in designing, manufacturing, developing, and marketing communication equipment including devices used in 5G services.
The countries covered in the 5G in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06286057/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.