5G is a widely popular nomenclature for the emerging and fifth generation of mobile and telecommunications technology. 5G in telecommunications, as well as in a varied set of industry verticals can bring about path breaking changes and enable users to connect to a whole new information ecosystem. 5G in healthcare market can bring around infinite possibilities by providing users enhanced connectivity and meet their requirements efficiently, conveniently, accurately, substantially, and cost effectively. The global 5G in healthcare market can offer users a part in the massive new network that can potentially include billions of connected healthcare devices such as health monitoring devices, clinical wearables, as well as remote sensors.
Solutions in the global 5G in healthcare market can aid medical professionals to transfer massive patient data files faster. This, along with easy availability of cost effective sensors as well as advancements and breakthroughs in telecommunication technologies are expected to fuel the demand in global 5G in healthcare market in coming years. On the other hand, high cost of deployment associated with the solutions in the global 5G in healthcare market can restrict the growth in the global 5G in healthcare market in coming years.
Global 5G in Healthcare Market: Major Trends and Drivers
Rising adoption of telehealth as well as robotics surgeries owing to the novel corona virus pandemic are two of the most important drivers for the enhancement of the global 5G in healthcare market in recent times. Moreover, increasing usage as well as adoption of 5G technology enabled wearable medical devices that can remote monitor patients in real time is also an important driver for the development of the global 5G in healthcare market.
While increasing integration of other emerging and latest technologies, such as Artificial Intelligence or AI in solutions in the global 5G in healthcare market may favour the growth of the industry, rising concerns over security and safety of consumer data may hamper the industry’s upward climb. Increasing instances of data breach may demotivate customers to opt for the products in the global 5G in healthcare market.
Global 5G in Healthcare Market: Key Players and Manufacturers
Some of the leading and incumbent players operating within the global 5G in healthcare market include Verizon, T-Mobile, Telit, Vodafone, Samsung, Orange S. A., BT Group, NEC Corporation, Airtel, Cisco, Swisscom, Fibocom wireless Inc., Sequans, AT & T, China Mobile Limited, Ericsson, Telus, Nokia, Deutsche Telekom AG, SK Telecom Co., Ltd., NTT DOCOMO, Telefonica, Huawei Technologies Co., Ltd., Sierra Wireless, Qualcomm, and Quectel, among others. Players and manufacturers in the global 5G in healthcare market are adopting various strategies such as expansions, partnerships, mergers and acquisitions, service launches, agreements, and collaborations in order to strengthen their foothold in the global 5G in healthcare market in coming years.
For example, AT & T partnered up with Rush medical Centre in order to bring out the latest telecommunications technology in clinical care sector based on 5G technology in January of 2019. This partnership can help them improve communications experience, enhance patient care experience, and meet their higher data processing needs.
Global 5G in Healthcare Market: Regional Assessment
Regionally, Asia Pacific is expected to account for the largest share in the global 5G in healthcare market in coming years. This trend can be attributed to rising number of medical devices in the region being enabled by internet of things or IoT, increase in the government initiatives bolstering adoption of IoT, fast paced adoption of various new and advanced technologies, and constant efforts of enhancing the mobile network connectivity by mobile service providers in the region. Rising demands from countries such as Japan and China are also expected to foster the development in global 5G in healthcare market in Asia Pacific in near future.
