Global 5G in Healthcare Market to Reach USD 428,781.16 Million by 2031 | Growing at a CAGR of 37.93%
Category : Healthcare | Published Date : Nov 2024 | Type : Press Release
5G in Healthcare Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the 5G in Healthcare Market was valued at USD 32,809.32 Million in 2023 and is projected to reach USD 428,781.16 Million by 2031, expanding at a CAGR of 37.93% during the forecast period from 2024 to 2031. The integration of 5G technology in healthcare systems enables enhanced communication, low latency, and high bandwidth, facilitating real-time medical data transmission and improving patient care. The application areas include telehealth, connected medical devices, and augmented reality (AR) & virtual reality (VR) in healthcare.
The report comprises the 5G in Healthcare Market Share, Size & Industry Analysis, By Component (Hardware, Services, Connectivity), By Application (Telehealth, Healthcare Information Systems, Augmented Reality (AR) & Virtual Reality (VR), Connected Medical Devices, Others), By End User (Healthcare Providers, Healthcare Payers, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024–2031.
The report contains detailed information on 5G in Healthcare Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The increasing adoption of IoT in healthcare and the rise of telemedicine are driving market growth, while high deployment costs remain a significant restraint.
Segmental Analysis :
By Component, the market is divided into Hardware, Services, and Connectivity.
- Hardware dominated the market share in 2023 due to the high demand for 5G infrastructure components like base stations and MIMO antennas in healthcare applications.
- Services are expected to grow at the fastest CAGR, driven by the need for system integration and continuous optimization of 5G networks in healthcare settings.
By Application, the market includes Telehealth, Healthcare Information Systems, AR & VR, Connected Medical Devices, and Others.
- Telehealth accounted for the largest share of 44.05% in 2023, fueled by the increasing preference for remote healthcare services.
- Connected Medical Devices are anticipated to grow at the fastest CAGR, supported by the rising adoption of IoT-enabled medical devices for real-time patient monitoring.
By End User, the segments include Healthcare Providers, Healthcare Payers, and Others.
- Healthcare Providers held the largest share in 2023, owing to the widespread adoption of 5G for enhanced patient care and diagnostic services.
- Others, including diagnostic centers and pharmaceutical companies, are projected to grow rapidly, driven by the increasing use of 5G for remote clinical trials and advanced diagnostics.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America led the market with a share of 37.34%, supported by robust digital infrastructure and early adoption of telehealth services.
- Asia-Pacific is expected to register the fastest growth, attributed to rising healthcare investments and advancements in 5G infrastructure across the region.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 428,781.16 Million |
| CAGR (2024-2031) | 37.93% |
| By Component | Hardware, Services, Connectivity |
| By Application | Telehealth, Healthcare Information Systems, AR & VR, Connected Medical Devices, Others |
| By End User | Healthcare Providers, Healthcare Payers, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape of the 5G in Healthcare Market is characterized by key players focusing on strategic collaborations, product innovations, and market expansion to strengthen their market presence.
The competitive landscape encompasses major innovators, technology giants, and niche players, all analyzed by Consegic Business Intelligence in terms of their strengths, weaknesses, and potential value additions. The report includes detailed profiles of key players, market share analysis, mergers and acquisitions, and emerging trends.
List of prominent players in the 5G in Healthcare Industry:
- Verizon (United States)
- Telefonaktiebolaget LM Ericsson (Sweden)
- T‑Mobile USA, Inc. (U.S.)
- Qualcomm Technologies, Inc. (U.S.)
- Telefónica S.A. (Spain)
- TELUS (Canada)
- AT&T Intellectual Property (U.S.)
- Samsung (South Korea)
- BT Group (UK)
- Cisco Systems, Inc. (U.S.)
Recent Industry Developments :
- September 2024: True Corp collaborated with Intel to launch new smart healthcare solutions integrating 5G and AI for improved diagnosis and patient management.
- April 2022: Bharti Airtel partnered with Apollo Hospitals and Cisco to launch a 5G-connected ambulance service equipped with real-time health monitoring capabilities.
- July 2022: GE Healthcare opened its 5G Innovation Lab in Bengaluru, India, focusing on leveraging 5G for enhanced patient care and faster diagnostics.
