From GlobeNewswire: 2024-06-13 07:18:00

The global 5G in healthcare market is projected to reach USD 22.60 billion by 2031, growing at a CAGR of 35.3% from 2024. 5G technology enables high resolution medical imaging, remote patient monitoring, and telemedicine applications. Implementation of 5G in healthcare facilities is expected to drive market growth, with North America leading the market share. Key players include Ericsson, Verizon, Cisco, and GE Healthcare, focusing on partnerships and innovation to strengthen their market position.

Remote patient monitoring using 5G networks allows healthcare providers to continuously monitor patients outside traditional clinical settings. The real-time transmission of vital signs such as ECG, blood pressure, and glucose levels over 5G networks enables efficient home healthcare and reduces costs for payers. 5G technology supports the connectivity of various medical devices, from wearable sensors to medical imaging equipment, promoting the development of smart hospitals with enhanced diagnostic and treatment capabilities. The proliferation of connected ambulance and surgical robotics through 5G facilitates telehealth and telemedicine services across different geographical regions.

The surge in chronic diseases and healthcare costs drives the adoption of telehealth solutions, especially during the COVID-19 pandemic. With hardware components accounting for around 40% of the market share in 2024, the 5G in healthcare market is expected to witness a CAGR of 35.3% from 2024-2031. Remote patient monitoring is anticipated to hold the largest market share, catering to the growing geriatric population and the need for home monitoring of chronic diseases. Healthcare providers are expected to be the dominant end user, emphasizing the demand for connected care solutions to enhance patient outcomes. Players in the market, such as Ericsson, Tata Elxsi, and GE Healthcare, are leveraging partnerships and product innovations to capitalize on growth opportunities.

Recent developments in the 5G in healthcare market include the launch of India’s first 5G training labs and applications in the health sector and GE Healthcare’s establishment of the 5G Innovation lab in India. The market is witnessing a growing trend in telemedicine and wearable medical devices, enabled by 5G technology. The focus on a patient-centric healthcare delivery model and the rapid growth of digital healthcare infrastructure are expected to drive lucrative growth opportunities for players in the 5G in healthcare market over the forecast period, with North America leading the market share.



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