5G in Healthcare market projected to reach $834.24 billion by 2032 with CAGR of 36.56%
From GlobeNewswire: 2025-02-03 09:50:00
The global 5G in Healthcare market was valued at USD 50.64 billion in 2023 and is projected to reach USD 834.24 billion by 2032, with a CAGR of 36.56% from 2024 to 2032. The integration of 5G technology in healthcare enables real-time patient monitoring, telemedicine, and connected medical devices, with the COVID-19 pandemic accelerating telehealth adoption. Major players in the market include China Mobile International, Quectel, TELUS International, Huawei, Cisco Systems, Orange, NEC Corporation, Fibocom Wireless, Qualcomm, Ericsson, Nokia, China Mobile, and Samsung Electronics.
In 2023, the hardware segment dominated the 5G healthcare market, accounting for 70.4% of the market share. The services segment is growing rapidly due to the demand for network management, consulting, and support services. The remote patient monitoring (RPM) application segment led the market in 2023, with connected medical devices being the fastest-growing application segment. The adoption of 5G technology is transforming healthcare delivery through enhanced telemedicine and real-time patient monitoring.
Recent developments in the industry include a Malaysian telecommunications provider partnering with a leading healthcare company to enhance healthcare tourism through 5G-powered AI and telemedicine solutions. Another major telecommunications company collaborated with a hospital network to implement a cutting-edge 5G IoT integration network solution, advancing 5G-powered healthcare infrastructure. A technology firm has launched a ‘5G Applications Lab’ to drive innovation in healthcare, focusing on telemedicine, robotic surgery, and AI diagnostics. North America leads with a 34.5% market share, driven by strong digital infrastructure and government support. Asia Pacific is expected to see the highest growth, with China, Japan, and South Korea leading the 5G healthcare transformation.
Read more at GlobeNewswire: 5G in Healthcare Market Size Projected to Hit USD 834.24