Report Id: SNS/HC/2297 | July 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The Wireless Health Market Size was valued at USD 170.08 billion in 2022, and is expected to reach USD 932.45 billion by 2030, and grow at a CAGR of 23.7% over the forecast period 2023-2030.
With the goal of assisting people in enhancing their own health, wireless health is a feature that incorporates the incorporation of wireless technology into medical products. With the help of this tool, healthcare managers can quickly see how the networks are spread and determine what, if anything, is degrading user experience or performance. Productivity is thereby increased. By using these health gadgets with wireless technology, people can quickly alter their lifestyles and enhance their health. These wireless gadgets are capable of measuring a number of significant data, including temperature and heart rate, which can be used to assess a person's physical fitness.
Technological developments in wireless communication
More people using the Internet
Wearable Technology's Development
Increasing the Use of Connected Devices for the Management of Chronic Conditions
HCIT Environment that is Favorable for Promoting Wireless Health
The Use of a Patient-Centered Approach by Healthcare Professionals
Healthcare Services Can Be Provided Without Interruptions With Strong 3G and 4G Network Penetration
Including Cloud Computing in Everyday Life
Traditional Healthcare Professionals' Reticence
Market for End Users Is Fragmented
In underdeveloped and developing nations, there is a lack of internet access.
Wearable health technology is expensive up front
The Healthcare Industry Lacks Skilled IT Professionals
New Key Enabling Technology Developments
Data Security and Privacy
Utilizing Wireless Health Solutions in Health Care Organizations
Insufficient data management and collaboration
IMPACT OF COVID-19
The global COVID-19 epidemic and the ensuing lockout have caused the healthcare market to continue to decline. Aside from affecting communities, COVID-19 had devastating effects on the major world economies, particularly the healthcare industry. Important parties are continuing to modify their tactics in response to the fast-shifting circumstances. The healthcare sector is expected to see severe long-term effects from COVID-19. Prioritized healthcare reforms would need to be implemented by nations and significant stakeholders until the situation is resolved.
The near future will see significant advancements in technology, cost control, and expanded accessibility in healthcare reforms. In the ongoing outbreak, telemedicine and digital health have assumed a prominent role. The significance of remote diagnosis, care, and consultation was reemphasized in COVID-19. Growth in Telehealth has been delayed over the last few years by legislative and behavioural constraints. However, because so many healthcare organisations are presently experimenting with video conferencing and telephone calls, the growth of this market will multiply several times during the following two years.
Patients with mild symptoms were also required to consult online as part of the social distancing strategies. Additionally, it significantly lessens the strain on hospitals, who were already overburdened by COVID-19 patient counts. Medical IoT devices that reside in the patient's house are now utilised to maximize outpatient care and reduce follow-up visits; these devices can also be employed in an emergency. During the pandemic, there were serious resource shortages. Future market growth is anticipated to be accelerated by the creation of value-based pricing models and competitive pricing.
By Technology Type
WPAN, WLAN/Wi-Fi, WiMAX, and WWAN are other subsectors of the wireless health business. The highest share of the market is held by the WPAN technology market category. The most extensively used wireless health technologies are WPAN ones since they are both very secure and reasonably priced. WPAN technology is further divided into Bluetooth, RFID, Ant+, Zigbee, Z-wave, and UWB segments.
By Component Type
Hardware, software, and services make up the three market segments. The largest portion of the worldwide market belongs to the software sector. The main factors influencing the growth of this market are the rising use of healthcare IT solutions and the growing demand to update the current software.
Patient-specific applications and provider/payer-specific applications make up the next two market segments in wireless health. A significant portion of the global market is occupied by patient-specific applications as a result of the growing use of wireless technology and the demand for high-quality healthcare.
By End User
Providers, payers, and patients/individuals make up the additional market segments for wireless health. The majority of the global market is accounted for by the provider’s sector.
Some of the major key players are as follows: Alcatel-Lucent, Cerner Corporation, Omron Corporation, Aerohive Networks, Qualcomm, Allscripts Healthcare Solutions, Verizon Communications, AT &T, Vocera Communications, Philips Healthcare.
By Technology Type
By Component Type
Patient Communication and Support
By End User
For wireless communication technology in the healthcare business, the North American region offers the highest market opportunity. The U.S. and Canada are investing a sizable sum of money in healthcare IT to combat chronic diseases. The improvement of patient care in these nations is being sped up by smartphone technology and personalized wireless healthcare solutions.
Healthcare providers in the Asia-Pacific area place a higher priority on providing dependable, high-quality care that is affordable. Healthcare organisations are enhancing their infrastructure by implementing various wireless communication technology-based infrastructure in order to deliver healthcare services to the growing chronically elderly population. Healthcare IT spending is increasing in the European region.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 170.08 Billion|
|Market Size by 2030||US$ 932.45 Billion|
|CAGR||CAGR of 23.7% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Technology Type (WLAN/Wi-Fi, WPAN, WiMAX, WWAN)
• By Component Type (Software, Hardware, Services)
• By Application (Patient-specific, Physiological Monitoring, Patient Communication and Support, Provider/Payer-specific)
• By End User (Providers, Payers, Patients/Individuals)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Alcatel-Lucent, Cerner Corporation, Omron Corporation, Aerohive Networks, Qualcomm, Allscripts Healthcare Solutions, Verizon Communications, AT &T, Vocera Communications, Philips Healthcare.|
|Key Drivers||• Technological developments in wireless communication
• More people using the Internet
• Wearable Technology's Development
|Restraints||• Concerns about Data Privacy & Security
• Exorbitant Deployment Costs
• Investments in Infrastructure Are Needed to Support Patient Portals
Frequently Asked Questions (FAQ) :
For wireless communication technology in the healthcare business, the North American region offers the highest market opportunity.
Patient-specific, Physiological Monitoring, Patient Communication and Support, and Provider/Payer-specific are the sub segments of Wireless Health market.
Key drivers of the Wireless Health Market is More people using the Internet, Wearable Technology's Development, and Increasing the Use of Connected Devices for the Management of Chronic Conditions
With the goal of assisting people in enhancing their own health, wireless health is a feature that incorporates the incorporation of wireless technology into medical products.
Wireless Health Market Size was valued at USD 137.5 billion in 2021, and expected to reach USD 609.7 billion by 2028, and grow at a CAGR of 23.7% over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Wireless Health Market Segmentation, By Technology Type
9. Wireless Health Market Segmentation, By Component Type
10. Wireless Health Market Segmentation, By Application
10.2 Physiological Monitoring
10.3 Patient Communication and Support
11. Wireless Health Market Segmentation, By End User
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Cerner Corporation
13.3 Omron Corporation
13.4 Aerohive Networks
13.6 Allscripts Healthcare Solutions
13.7 Verizon Communications
13.8 AT &T
13.9 Vocera Communications
13.10 Philips Healthcare..
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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