5G In Healthcare Market To Hit Value 4.7 Billion By 2025 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on June 7th, 2023 San Francisco, 7 June 2023: The Report 5G In Healthcare Market Size, Share & Trends Analysis Report By Component (Hardwar, Services), By Application (Remote Patient Monitoring, Connected Medical Devices), By End-use, By Region, And Segment Forecasts, 2022 - 2030 The global 5G in healthcare market size is expected to reach USD 454.7 billion by 2030, based on a new report by Grand View Research, Inc, expanding at a CAGR of 34.5% from 2022 to 2030. 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. The global market is driven by the rising adoption of robotic surgery and telehealth. An increase in the developments in telecommunication, deployment of wearable medical devices with 5G technology, the capacity of 5G technology to transfer massive patient data files at light speed, and the accessibility of inexpensive sensors are also fueling the market growth. Furthermore, an increase in investments by the government and key market players in the deployment of 5G in healthcare is propelling the market growth. For instance, the Government of India launched a special incentive scheme to support 75 startups in telemedicine and digital health in 2021. The COVID-19 pandemic significantly impacted the global healthcare industry, especially hospitals, due to the increased patient burden. 5G offers advanced technologies including the internet of things, big data, cloud computing, artificial intelligence, and enabling smart healthcare. Access Research Report of 5G In Healthcare Market @ https://www.grandviewresearch.com/industry-analysis/5g-healthcare-market-report 5G In Healthcare Market Report Highlights
List of Key Players of 5G In the Healthcare Market
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