Global 5G in healthcare market projected to reach $48.70 billion by 2033 with a CAGR of 34.05%
From GlobeNewswire: 2024-06-19 08:00:00
The Global 5G in Healthcare Market Size is set to grow from $2.60 billion in 2023 to $48.70 billion by 2033, with a CAGR of 34.05% during the projected period. The market growth is driven by advancements in telecommunication, use of 5G in wearable medical devices, and efficiency in transferring large patient data files quickly.
5G technology in healthcare enables faster data transfer speeds and lower latency, leading to new applications like real-time mobile ultrasonography, remote surgery, and networked robotic assistance. However, the high cost of implementing 5G networks poses a challenge to its adoption in the healthcare sector.
The hardware segment dominates the global 5G in healthcare market due to technological advancements and the growing need for ultra-high bandwidth and low latency. The remote patient monitoring segment is expected to grow rapidly, driven by the increasing demand for online health checkups and self-management of medical conditions from home.
North America is expected to lead the global 5G in healthcare market, supported by a well-established healthcare system and high per capita income. Meanwhile, Asia Pacific is forecasted to grow the fastest due to factors like medical tourism, increasing chronic illnesses, and emphasis on integrated healthcare services.
Key vendors in the global 5G in healthcare market include Cisco Systems, Nokia Corporation, and Ericsson. Recent collaborations like Ericsson and Chunghwa Telecom enabling 5G connected ambulances are advancing emergency medical services. The market is segmented based on components, applications, end-users, and regions, providing a comprehensive analysis for decision-makers.
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Read more at GlobeNewswire: Global 5G in Healthcare Market Size To Worth USD 48.70