The 5G in healthcare market is valued at an estimated USD 215 million in 2021 and is projected to reach USD 3,667 million by 2026, at a CAGR of 76.3% during the forecast period. The increasing adoption of telehealth and robotics surgery due to COVID-19 and the rising adoption of 5G-enabled wearable medical devices for real-time remote patient monitoring are key factors driving the growth of this market.
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5G stands for the fifth generation of mobile communication technology. With each generation’s new technology and standards, there have been improvements in transmission speed and network capacity. 5G represents a big leap in cellular technology and in healthcare by providing essential levels of connectivity to enable a new health ecosystem, one that can meet the needs of patients and providers accurately, efficiently, cost-effectively, conveniently, and at a substantial scale.
Key Market Players
The prominent players in the 5G in healthcare market are AT&T (US), Verizon (US), China Mobile Limited (China), T-Mobile (US), Ericsson (Sweden), Telit (Poland), Telus (Canada), Vodafone (UK), Nokia (Finland), Samsung (South Korea), Deutsche Telekom AG (Germany), Orange S.A. (France), SK Telecom Co., Ltd. (South Korea), BT Group (UK), NTT DOCOMO (UK), NEC Corporation (Japan), Telefónica (Spain), Airtel (India), Huawei Technologies Co., Ltd. (China), Cisco (US), Sierra Wireless (Canada), Swisscom (Switzerland), Qualcomm (US), Fibocom Wireless Inc. (China), Quectel (China), and Sequans (France)
AT&T
AT&T is the leading player in the 5G healthcare market. AT&T provides its global SIM-enabled connectivity in more than 200 countries and across 500 carriers, which would provide fast and highly secure equipment connectivity to enterprises and help them deploy more devices using IoT and M2M technologies. after the pandemic, AT&T strategized lending connectivity services for various industries, including healthcare.
VERIZON
Verizon is the second-leading player in this market. It has developed an innovative product portfolio that is being upgraded to 5G. The company has seen an upsurge in the number of subscriptions, much more than the previous year. It offers reliable and secure network connectivity to its customers so that they can support their employees and for business continuity.
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Asia Pacific was the largest regional market for 5G healthcare Market
The global 5G in healthcare market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific accounted for the largest share of 33.8% of the global market. The APAC is the largest and fastest-growing region in the market.
Recent Developments
- Cisco and Accedian: In February 2022, Cisco announced its acquisition of Accedian, a Montreal-based provider of 5G network performance solutions for the healthcare industry. The acquisition will strengthen Cisco’s 5G network portfolio and help healthcare customers optimize network performance, security, and reliability.
- AT&T and Aira: AT&T announced in October 2022 its acquisition of Aira, a San Diego-based provider of 5G-enabled remote healthcare solutions. The acquisition will help AT&T expand its 5G capabilities in the healthcare industry and enable Aira to offer more comprehensive remote healthcare solutions to healthcare providers.
- Nokia and Vodafone: Nokia announced its acquisition of Vodafone’s 5G and IoT business in February 2023. The acquisition will strengthen Nokia’s 5G capabilities and help Vodafone create a more comprehensive 5G offering for healthcare customers.
- Qualcomm and Xilinx: Qualcomm announced in March 2023 its acquisition of Xilinx, a San Jose-based provider of 5G technologies for the healthcare industry. The acquisition will strengthen Qualcomm’s 5G portfolio and help healthcare customers optimize their networks for better performance and reliability.
- Ericsson and Cisco: Ericsson announced its acquisition of Cisco’s 5G and IoT business in May 2023. The acquisition will expand Ericsson’s 5G capabilities and help Cisco’s healthcare customers leverage 5G technology to improve patient care.
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