5G, the fifth generation of cellular wireless technology, has the potential to deliver the massive connection power and fast speeds that can assist transform healthcare delivery. 5G can impact the Internet of Medical Things (IoMT). Also, it will help in allowing the medical innovations by using the augmented reality, virtual reality, artificial intelligence (AI), remote medical learning, remote patient monitoring, and much more. During the present time, it is necessary to get admittance to the near real-time data, as well as to make split-second decisions across the healthcare environments, and 5G will deliver the benefits to this sector in the forecast duration. The implementation of 5G in healthcare will lead to better communications with high efficiencies, quicker diagnostics at lightning speeds, transfers of enormous files, images, and other content.
According to the report analysis, ‘5G in healthcare Market: Current Analysis and Forecast (2021-2027)’ states that the requirement for the 5G in the healthcare market is burgeoning on account of the growing adoption of 5G-enabled wearable medical devices for the real-time remote patient monitoring and the augmenting implementation of telehealth and robotics surgery owing to COVID-19. Telemedicine includes a network that can establish the real-time high-quality video, which often means wired networks.
The government efforts of countless countries for the establishment of telemedicine & telehealth well-defined reimbursement policies, and a legal framework for telehealth practices is increasing the market growth. For example, during April 2019, the Centers for Medicare & Medicaid Services (CMS) announced and finalized changes in Medicare’s telehealth policy to allow the remote patient monitoring for patients to admittance the latest technology and advance the coordination of healthcare processes. In addition, the capability of 5G technology to transmit large patient data files at a quicker speed, innovations in telecommunication, and the availability of low-cost sensors also propel the market growth. Moreover, the augmenting integration of Artificial Intelligence in solutions in the international 5G in the healthcare market also deepens the market growth.
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Based on End Users, the market is classified into Healthcare Providers, Healthcare Payers, and Other End Users. The Healthcare Providers segment registered the market during 2020 and is projected to grow at lucrative growth during the reviewed period owing to the rising requirement for an efficient healthcare system, increasing the patient volume, and an augmenting the number of hospitals and ambulatory care centers. Moreover, the growth in telehealth, augmenting the adoption of 5G-enabled wearable medical devices, and the growing demand for better technologies that help in the easy transfer of large data files also propel the market growth.
Asia-Pacific is projected to register the 5G in the healthcare market on account of the existence of a smaller number of vendors. In addition, the significant implementation of advanced technologies, augmenting number of IoT-enabled medical devices, continuously improving the network connectivity, and government initiatives for IoT also propel the market growth in the region. Therefore, it is predicted that during the near future the market of 5G healthcare will augment more proficiently around the globe over the review period.
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Ankur Gupta, Head Marketing & Communications