(MENAFN- P&S Intelligence) As per a report by P&S Intelligence, the global 5G in healthcare market generated a value of USD 40.2 billion in 2022, and it will grow at a 17.6% CAGR, to touch USD 147 billion, by 2030.
This growth can be credited to the growing 5G infrastructure, increasing count of launches of AR/VR devices for medicinal applications, rising healthcare industry, rising demand for high-speed connectivity, and snowballing research and development expenditure by key players.
ICTs hold the strength to offer patient-centric upkeep at a low price, improved standard of care, advanced data sharing, recommendations to medical specialists and patients on healthier treatment methods, stimulate a different user interface with patients and medicinal care workers, and reduce commute time.
In 2022, the healthcare providers category dominated the market, with a 64% revenue share, and it is also projected to be dominant throughout the forecast period.
This can be mainly credited to the mounting pace of improvements in the healthcare sector, the increasing quantity of healthcare settings, including hospitals and ASCs, the growing number of patients, the increasing requirement for e-medicine, mushrooming acceptance of 5G-enabled wearable devices, and the rising demand for better technologies for the quicker sharing and storage of huge medicinal datasets.
In 2022, the connected medical devices category generated the highest revenue share, approximately 44%, and the category is also projected to lead the industry in the future as well.
This is mainly because of the mounting popularity of telemedicine, the growing fondness of patients for house-based care, the increasing popularity of customized care, increasing healthcare prices, an also the increasing attention of specialists on advancing the standard of care and patient wellbeing.
In 2022, North America led the 5G in the healthcare market with a revenue share, of 36%, and the region is also projected to be in the top spot throughout the forecast period.
This is mainly because of the sophisticated healthcare set-up, high disposable income, rising count of key players, technological improvements, and supportive government backing situation for the healthcare industry.
The U.S. generates a major revenue share in the regional market credited to the growing number of medicinal care workers, high research and development investment in healthcare, and advanced networking infrastructure.
Furthermore, the nation is the center of the IT and ICT industry, which moves to the convenient obtainability of 5G-powered devices and related network services.
Hence, the growing 5G infrastructure, increasing count of launches of AR/VR devices for medicinal applications, rising healthcare industry, rising demand for high-speed connectivity, and snowballing research and development expenditure by key players, are the major factors propelling 5G in healthcare market.
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