“Global 5G In Healthcare Market to reach a market value of 627.3 Billion by 2031 growing at a CAGR of 39.5%”
The Global 5G In Healthcare Market size is expected to reach $627.3 billion by 2031, rising at a market growth of 39.5% CAGR during the forecast period.
The segment's expansion is driven by the growing demand for continuous health monitoring solutions and the rising prevalence of chronic diseases such as diabetes, cardiovascular disorders, and hypertension. The ultra-low latency and high-speed connectivity of 5G networks enable real-time transmission of patient data from wearable devices and IoT-enabled sensors to healthcare providers, ensuring timely interventions and improved patient outcomes. This capability is especially advantageous in remote and underserved regions, where access to in-person medical treatment is restricted, as it enables the management of healthcare in a cost-effective and efficient manner. Thus, the remote patient monitoring segment witnessed 55% revenue share in the 5G in healthcare market in 2023.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In October, 2024, Nokia expanded its multi-year partnership with NTT Data, a global digital business and IT services company, to drive private 5G adoption across various industries including smart cities and airports. This partnership focuses on offering low-latency, high-security private 5G networks to improve operations and enable real-time data sharing. Additionally, In August, 2024, Nokia Corporation came into partnership with Bounteous x Accolite, a global consultancy in digital transformation, to utilize its Network as Code platform and developer portal. This collaboration aims to develop innovative 5G use cases in healthcare, such as improving ambulance response times through location tracking. The partnership will also allow developers to leverage 5G network capabilities to create new applications, enhancing services across various industries, including healthcare.
Based on the Analysis presented in the KBV Cardinal matrix; AT&T Inc., Huawei Technologies Co., Ltd., Verizon Communications, Inc., Samsung Electronics Co., Ltd., and Cisco Systems, Inc. are the forerunners in the 5G In Healthcare Market. Companies such as Orange S.A., Nokia Corporation, BT Group plc are some of the key innovators in 5G In Healthcare Market. In August, 2024, AT&T Inc. partnered with Oracle, a technology company, to leverage the operator’s 5G network and programmable APIs for delivering cloud applications across industries like telehealth and utility management. Their collaboration enables IoT connectivity and near real-time communications, enhancing performance and reliability while simplifying integration for businesses, particularly in public safety.
The COVID-19 pandemic initially disrupted the progress of 5G adoption in healthcare due to supply chain issues, delaying the manufacturing and delivery of essential infrastructure components like base stations and medical devices. Healthcare budgets were reallocated to immediate pandemic needs, such as PPE and ventilators, deprioritizing investments in 5G technology. Thus, the pandemic had an overall positive impact on the market.
The demand for telemedicine has surged in recent years, driven by the transformative capabilities of 5G technology, which has revolutionized how healthcare is delivered. Telemedicine has become indispensable for the provision of medical care remotely, thereby eliminating the necessity for in-person visits to healthcare facilities.
Additionally, powered by 5G technology, remote patient monitoring has reached new heights, enabling the continuous transmission of patient data from virtually anywhere to healthcare facilities. The uninterrupted transmission of data from wearable devices, sensors, or other monitoring equipment is guaranteed by the ultra-fast speeds and minimal latency of 5G networks. Thus, by enabling continuous monitoring and effective management of chronic diseases, 5G is reshaping the healthcare landscape.
The deployment of sector involves a significant financial commitment, which can challenge its widespread adoption. Establishing a robust 5G infrastructure requires the installation of numerous base stations and specialized network hardware to ensure seamless connectivity and coverage. Hence, high initial infrastructure costs remain a significant barrier to the widespread adoption of 5G in healthcare.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.
Based on component, the market is bifurcated into hardware and services. The hardware segment garnered 67% revenue share in the market in 2023. Hospitals and healthcare facilities require advanced hardware components, such as 5G-compatible IoT devices, routers, and diagnostic equipment, to support high-speed connectivity and seamless data transmission. The growing reliance on remote patient monitoring systems and wearable health devices further fuels the demand for 5G hardware.
On the basis of end use, the market is classified into healthcare providers, healthcare payers, and others. The healthcare payers segment recorded 24% revenue share in the market in 2023. Insurance companies and other payers are adopting 5G to improve claims processing, fraud detection, and member services by leveraging real-time data transmission and AI-driven insights.
By application, the market is divided into remote patient monitoring, connected medical devices, AR/VR, connected ambulance, and asset tracking. The AR/VR segment procured 13% revenue share in the market in 2023. This segment is being driven by the increasing utilization of augmented and virtual reality in patient therapy, surgical simulations, and medical training. 5G’s high bandwidth and low latency ensure that AR/VR applications deliver immersive, real-time experiences, which are critical for robotic surgeries and virtual consultations.
Free Valuable Insights: Global 5G In Healthcare Market size to reach USD 627.3 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment recorded 32% revenue share in the market in 2023. European countries are increasingly adopting 5G-enabled technologies to enhance telemedicine, optimize hospital workflows, and facilitate cross-border data sharing for collaborative research and care delivery.
The 5G in Healthcare market is highly competitive, driven by the demand for faster, more reliable connectivity to enhance patient care and operational efficiency. Key attributes include ultra-low latency, high-speed data transfer, and improved network reliability, enabling advancements like remote surgeries, telemedicine, and real-time health monitoring. The market benefits from trends such as digital health transformation, increasing use of IoT devices, and the need for enhanced connectivity in critical care. Scalability and security remain vital for widespread adoption.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 45.9 Billion |
| Market size forecast in 2031 | USD 627.3 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 39.5% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units (24 Counts), Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 265 |
| Tables | 363 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Component, End Use, Application, Region |
| Country scope |
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| Companies Included | AT&T Inc., Verizon Communications, Inc., Ericsson AB, Cisco Systems, Inc., Nokia Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Orange S.A., Samsung Electronics Co., Ltd. (Samsung Health), NEC Corporation and BT Group plc |
By Component
By End Use
By Application
By Geography
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