The Wireless Health Market Size was valued at USD 210.54 billion in 2023 and is expected to reach USD 1160.97 billion by 2031 and grow at a CAGR of 23.79% over the forecast period 2024-2031.
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.
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DRIVERS
Technological developments in wireless communication
More people using the Internet
Wearable Technology 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
RESTRAINTS
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
OPPORTUNITIES
Mobile Communications
New Key Enabling Technology Developments
CHALLENGES
Data Security and Privacy
Utilizing Wireless Health Solutions in Health Care Organizations
Insufficient data management and collaboration
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.
By Application
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.
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
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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.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The 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
The Major key players are Alcatel-Lucent, Cerner Corporation, Omron Corporation, Aerohive Networks, Qualcomm, Allscripts Healthcare Solutions, Verizon Communications, AT &T, Vocera Communications, Philips Healthcare and other players.
| Report Attributes | Details |
|---|---|
| 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 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| 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 |
Ans: The Wireless Health Market Size was valued at USD 170.08 Bn in 2022.
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
Ans: The Wireless Health Market is to grow at a CAGR of 23.7% over the forecast period 2023-2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 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
8.1 WLAN/Wi-Fi
8.2 WPAN
8.3 WiMAX
8.4 WWAN
9. Wireless Health Market Segmentation, By Component Type
9.1 Software
9.2 Hardware
9.3 Services
10. Wireless Health Market Segmentation, By Application
10.1 Patient-specific
10.2 Physiological Monitoring
10.3 Patient Communication and Support
10.4 Provider/Payer-specific
11. Wireless Health Market Segmentation, By End User
11.1 Providers
11.2 Payers
11.3 Patients/Individuals
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Alcatel-Lucent
13.1.1 Financial
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
13.5 Qualcomm
13.6 Allscripts Healthcare Solutions
13.7 Verizon Communications
13.8 AT &T
13.9 Vocera Communications
13.10 Philips Healthcare
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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