The 5G in Healthcare Market is fast emerging as enhanced connectivity enables new technologies like remote patient monitoring, AR/VR-aided surgeries and precision medicine.

The Global 5G in Healthcare Market is estimated to be valued at US$ 22.60 Billion in 2024 and is expected to exhibit a CAGR of 30% over the forecast period 2024 to 2031.

Key Takeaways

Key players in the 5G in Healthcare Market are Ericsson, Telit, Verizon, Cisco, Orange S.A., Tata Elxsi, NEC Corporation, AT&T Inc., Fibocom Wireless Inc., BT Group, Huawei Technologies Co., Ltd., SK Telecom Co., Ltd., GE Healthcare. Key players are focusing on developing 5G-enabled IoT devices and solutions for remote care delivery, hospital operations as well as drug development.

The rising demand for telehealth and remote care services is a major factor driving the 5G in Healthcare Market growth. 5G connectivity can help manage chronic conditions and improve access to care in remote areas. It is estimated that over 50% of health consultations in developed markets will be remote by 2025.

Globally, countries are increasingly adopting 5G networks to modernize their healthcare infrastructure through technologies like AR/VR, AI, IoT, and predictive analytics. As 5G coverage expands to rural areas, it will help bridge the gaps in accessibility and quality of care worldwide. North America and Europe currently dominate the 5G in Healthcare Market but Asia Pacific is expected to see the fastest CAGR owing to China and India's digital healthcare plans.

Market Drivers

The key driver fueling the 5G In Healthcare Market Size is enhanced connectivity supporting technologies like telehealth, remote monitoring, AI/AR-aided diagnostics and drug discovery. Compared to 4G, 5G provides up to 100X faster speeds and ultra-low latency that is vital for real-time telesurgery and emergency response. Field tests have shown 5G's ability to transmit 4K quality medical videos, X-rays and genome data almost instantly. This could help improve clinical outcomes as well as expand access to care in developing nations.

Impact of Geopolitical Situation on 5G in Healthcare Market Growth

The current geopolitical environment has introduced several challenges for the growth of 5G in the healthcare market globally. Political tensions among major economies have restricted cross-border collaborations and investments needed for further development of 5G infrastructure. This is a critical obstacle as 5G networks require massive investments and coordination across multiple stakeholders like telcos, technology providers and governments. However, a few countries have prioritized 5G deployments even in remote areas to ensure access to virtual healthcare facilities.

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