The healthcare tech industry is a growing sector. As new, innovative solutions and use cases emerge to improve care delivery, they put complex demands on the network in terms of data rate, latency and bandwidth. The demand for a real-time network with faster internet access and greater bandwidth has been driven by the development of modern technologies such as AI, wired and wireless communications and machine learning – they are all needed to support innovative healthcare services.
The COVID-19 pandemic did impact the global healthcare industry due to the increased patient burden. The pandemic also accelerated the shift toward the digital transformation of the healthcare system – a much-needed change – with a focus on adopting telehealth and remote care services as well as thermal imaging solutions, among others.
These services require higher bandwidth and dependable data connectivity, made possible with 5G networks.
With the rising adoption of telehealth and remote care services, the global 5G in health care market size is expected to reach $454.7 billion by 2030, based on a new report by Grand View Research, expanding at a CAGR of 34.5% from 2022 to 2030.
Cellular technology is expected to improve the speed, coverage and responsiveness of wireless networks in the industry. As a result, the growing demand for faster and more reliable data transmission in the industry will fuel market growth.
5G technology enables necessary levels of connection for a new health ecosystem that can cost-effectively and conveniently fulfill the requirements of patients and providers. In addition to remote sensors, clinical wearables, low-bitrate and low-energy connected health monitoring devices, 5G will serve as the IoMT's backbone infrastructure.
Furthermore, government bodies and hospitals made efforts to deploy 5G during the COVID-19 pandemic. North America held a revenue share of over 35% in 2021 due to government initiatives. In August 2021, the Biden administration announced an investment totaling over $19 million to improve telehealth services in rural areas and to expand telehealth innovation and quality nationwide.
5G networks offer the potential to enhance and revolutionize patient care. Major players in the 5G in the healthcare market are focusing on developing innovative technologies to improve their market position leveraging a new era of wireless connectivity, including private 5G networks for healthcare providers.
Edited by
Erik Linask
