Global 5G Enabled Healthcare Services Market: Introduction
5G is the fifth generation of cellular wireless technology, which can offer massive connection power and fast internet speed for data transfer. Implementation of 5G technology accelerated the demand for various healthcare technologies such as the Internet of Medical Things, AR/VR, artificial intelligence (AI), remote medical learning, remote patient monitoring, etc.
Global 5G Enabled Healthcare Services Market Dynamics
Increasing demand for real time information
Patient real time information is important data for doctors to take decisions in a critical situation. This has accelerated the demand for advanced technologies in the healthcare sector. For instance, telemedicine requires an advanced network that offers support in real time, providing high-quality video communication without slowing down the facility’s network. Integration of 5G network in existing infrastructure provides real time data transfer of images, documents, and real time videos for video-based medical consultations, to improve the quality of care.
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North America Dominated the Global 5G Enabled Healthcare Services Market in 2019
- Based on region, the global 5G enabled healthcare services market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- North America held a dominant share of the global 5G enabled healthcare services market in 2019. It is expected to continue its dominance throughout the forecast period. The U.S. and Canada are the major countries that drive the 5G enabled healthcare services market in the region.
- The aging population is expected to increase the demand for advanced solutions such as mHealth solutions, and home healthcare, which require high-speed internet. According to the Population Reference Bureau, in 2018, 15% of the total North American population was above the age of 65 and is expected to reach 23% by 2050. Hence, the increasing aging population is accelerating the demand for 5G enabled healthcare services.
- The 5G enabled healthcare services market in Asia Pacific is expected to expand at a fast-paced CAGR during the forecast period. India, China, Japan, and Australia are major countries of the 5G enabled healthcare services market in the region. Increasing adoption of advanced communication solutions in the healthcare industry, majorly in developing countries where health care systems are often unprepared to tackle the challenges of a growing elderly population, has raised the need for high-speed internet services in the healthcare sector. Hence, this augments the adoption rate of 5G services in the healthcare industry.
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Key Players Operating in the Global 5G Enabled Healthcare Services Market
Key players operating in the global 5G enabled healthcare services market are listed below:
- Capsule Technologies
- Huawei Technologies
- Intel Corporation
- Samsung Electronics
- Telefonaktiebolaget LM Ericsson,
- Verizon Communications Inc
Global 5G Enabled Healthcare Services Market: Research Scope
Global 5G Enabled Healthcare Services Market, by Application
- Home Healthcare
- Remote Medicine and Emergency Care
- Healthcare Training
Figure: Global 5G Enabled Healthcare Services Market, by Application
Global 5G Enabled Healthcare Services Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Figure: Global 5G Enabled Healthcare Services Market , by Region
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.