5G IN HEALTHCARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

5G In Healthcare Market Size and Trends

Global 5G in healthcare market is estimated to be valued at USD 2.72 Bn in 2024 and is expected to reach USD 22.60 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 35.3% from 2024 to 2031.

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5G in healthcare market is expected to witness significant growth during the forecast period due to  increasing demand for virtual healthcare, rising adoption of telehealth and telemedicine services, increasing investments by healthcare organizations and government bodies to adopt 5G technologies. Real-time health monitoring abilities and improved connectivity offered by 5G is also expected to boost its adoption across various healthcare applications like remote patient monitoring, connected ambulances, AR/VR enabled advanced surgeries, and wearable devices. The  availability of high-speed internet through 5G network would allow healthcare organizations to adopt technologies like AI, ML and analytics with greater efficiency.

Growing Applications of Telehealth and Telemedicine

Telehealth and telemedicine services are expected to witness growth significantly with the emergence of 5G technology. 5G enables real-time virtual consultation between patients and physicians through high-definition video calls and transmission of vital health data. This allows people in remote and rural areas to access quality healthcare services without having to travel long distances to hospitals and clinics. 5G's low latency capabilities makes it possible to conduct remote surgeries and procedures by providing surgeons with real-time feedback. 5G networks can support applications like remote patient monitoring which involves continuous monitoring of patients outside of healthcare facilities through wearable medical devices. Chronic disease patients can be monitored remotely for conditions like blood pressure, blood sugar levels, oxygen saturation, and others. This ensures timely detection of health issues and reduces costs for patients and providers. The availability of fast, reliable internet connectivity through 5G is expected to boost adoption of telehealth and telemedicine services globally. 

The integration of internet of things (IoT) devices in healthcare is expected to drive the 5G in healthcare market growth. 5G networks provide the connectivity and bandwidth required to support a large number of connected IoT devices. Healthcare IoT refers to devices such as connected wearables, medical equipment, smart beds and monitoring sensors that generate and exchange huge amounts of data. With 5G, these devices can transmit patient data to doctors, nurses and other healthcare providers in real-time. This facilitates remote and continuous monitoring of patients. 5G also enables fast and reliable connectivity between medical equipment inside hospitals. Integration of IoT makes possible applications such as asset tracking of medical devices, predictive equipment maintenance, remote diagnostics of equipment and streamlining of hospital workflows. Growing number of connected healthcare IoT devices generating large volumes of data boosts the need for high-speed 5G networks in the healthcare ecosystem.