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

Posted by Johnny on July 27th, 2022

The 5G in healthcare market is valued at an estimated USD 215 million in 2021 and is projected to reach USD 3,667 million by 2026, at a CAGR of 76.3% during the forecast period. 5G stands for the fifth generation of mobile communication technology. With each generation's new technology and standards, there have been improvements in transmission speed and network capacity.

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5G represents a big leap in cellular technology and in healthcare by providing essential levels of connectivity to enable a new health ecosystem, one that can meet the needs of patients and providers accurately, efficiently, cost-effectively, conveniently, and at a substantial scale.

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.

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

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.

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.

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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.