The global 5G in healthcare market is expected to witness significant growth in the coming years, driven by the increasing adoption of telemedicine, remote patient monitoring, and medical imaging services. A recent research report sheds light on the current state and future prospects of the global 5G in healthcare market.
Market Overview According to the research report, the global 5G in healthcare market was valued at USD 420 million in 2020 and is expected to reach USD 11.51 billion by 2026, growing at a CAGR of 63.1% during the forecast period (2021-2026). The increasing adoption of telemedicine, remote patient monitoring, and medical imaging services, along with the growing demand for high-speed internet and real-time information, is driving the growth of the market.
Market Segmentation The global 5G in healthcare market is segmented based on application, end-user, and geography.
Application:
- Telemedicine
- Remote Patient Monitoring
- Medical Imaging
- Others
End-User:
- Hospitals and Clinics
- Diagnostic Centers
- Research Institutes
- Others
Geography:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Key Players The key players operating in the global 5G in healthcare market include AT&T Inc., Verizon Communications Inc., Huawei Technologies Co., Ltd., Ericsson AB, Nokia Corporation, Qualcomm Technologies, Inc., Intel Corporation, Samsung Electronics Co., Ltd., Medtronic Plc, and Cerner Corporation.
Recent Developments
- In January 2021, Qualcomm Technologies, Inc. announced the launch of its new 5G-enabled Snapdragon 480 processor, which is expected to support the adoption of 5G technology in healthcare applications.
- In December 2020, Verizon Communications Inc. announced a partnership with Walgreens to launch 5G-enabled healthcare solutions, including remote patient monitoring and virtual care services.
- In September 2020, AT&T Inc. announced the launch of its 5G-enabled healthcare platform, which is designed to enable faster and more efficient communication between healthcare providers and patients.
Conclusion The global 5G in healthcare market is witnessing significant growth, driven by the increasing adoption of telemedicine, remote patient monitoring, and medical imaging services. The market is expected to continue to grow in the coming years, driven by the growing demand for high-speed internet and real-time information. The key players operating in the market are investing in the development of innovative products and services to meet the growing demand for 5G-enabled healthcare solutions.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Everest Market Insights journalist was involved in the writing and production of this article.