Wireless Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Wireless Healthcare Market is segmented by Technology (Wireless Personal Area Network (WPAN), Wi-Fi, Worldwide Interoperability for Microwave Access (WiMAX), and Wireless Wide Area Network (WWAN)), Component (Hardware, Software, and Services), Application (Hospitals and Nursing Homes, Home Care, and Pharmaceuticals), and Geography.

Market Snapshot

wireless healthcare market
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Europe

Largest Market:

Asia Pacific

CAGR:

21.2 %

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Market Overview

The Wireless Healthcare Market was valued at USD 108.01 billion in 2020 and is expected to reach USD 337.55 billion by 2026, at a CAGR of 21.2% over the forecast period 2021 - 2026. According to the Centers for Disease Control, hospital-acquired infections cause approximately 100,000 deaths in the United States, each year. Hence, improving hand hygiene is a significant focus for the World Health Organization and the Centers for Disease Control. Sensors in soap and hand sanitizer dispensers that communicate with RFID tags in staff identification badges can now determine if and when the staff members sanitized their hands, which is a key trend in the market studied.

  • The penetration of internet and wireless communication technology is driving the market studied. In a connected hospital, caregivers use wireless medical equipment to provide the best quality of care to patients, rather than being preoccupied by time-consuming administrative tasks. Doctors and nurses can easily access up-to-date patient information, enabling treatment decisions supported by real-time medical information, thus, resulting in improved outcomes for patients.
  • Wearable devices for continuous monitoring are driving the market. Owing to the proliferation of smartphones and the acceptance of wearable devices, medical device and diagnostic centers are experimenting with body-worn sensors that can monitor vital signs and transmit them in real time to an online platform that can be remotely accessed.
  • However, issues pertaining to cybersecurity and privacy are restraining the market growth, as vast amounts of healthcare data are generated during the course of treatment in medical centers, such as hospitals and clinics, and the theft of such data can damage the privacy of patients.

Scope of the Report

The wireless healthcare market is growing, as the increase in the global geriatric population level is leading to a rise in the number of patients visiting hospitals. The aforementioned factor is also the root cause of the demand for the adoption of integrated and connected solutions in hospitals, nursing homes, and home care centers.

Technology
Wireless Personal Area Network (WPAN)
Wi-Fi
Worldwide Interoperability for Microwave Access (WiMAX)
Wireless Wide Area Network (WWAN)
Component
Hardware
Software
Services
Application
Hospitals and Nursing Homes
Home Care
Pharmaceuticals
Other Applications
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

IoT in Medical Sector to Increase its Share

The evolution of healthcare IT has been augmented by the intervention of Internet of Things (IoT) in the industry, which called for a connected hospital environment. Wireless network solutions are helping the healthcare industry by allowing practitioners to access files remotely to direct diagnosis, in case of unavailability.

At the moment, biosensors are among the most important elements of healthcare digital transformation. They can help users by collecting data about all their physical activities, sleep, and overall health in hospitals. Some of these devices record indicators with high sensitivity and specificity, making them very useful for health management, especially for treating elderly patients with several chronic diseases at once.

Blockchain initiatives are being widely implemented in the healthcare sector. For instance, the Estonian eHealth Foundation and Guardtime Company entered into a partnership for integrating a blockchain-based system to secure millions of medical records.

As the heart disease rate is increasing at a rapid pace, the IoT system utilizes algorithms for continuous ECG monitoring in patient at the hospital. In electrocardiogram (ECG) monitoring, the system keeps track of the heart rate and basic rhythm, by recording electrical activities of the heart. The ECG monitor consists of a wireless transmitter and a receiver. An automated application can identify an abnormal heart activity and the data is transferred in real time to mobile phones and the doctor’s clinic via the network.

wireless healthcare market

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Europe to Hold a Significant Share

Europe is a big market for wireless healthcare systems because of the increasing aging problems in this region. The proportion of Europeans aged 65 years and older is estimated to grow from 16% in 2000 to 24% by 2030. This is expected to put an enormous pressure on the present healthcare system. Hence, technologies, like wireless healthcare systems, may help ease the system of providing treatment to the growing elderly population.

Healthcare in Europe is increasingly becoming digitized and there is a growing need to develop and deploy sophisticated information systems. They are already being deployed for non-intrusive patient monitoring and for keeping track of the vital metrics. This information can be relayed back to caregivers and doctors, in order to increase the efficiency of the medical treatment.

For instance, the UK government has been welcoming the technology revolution in the country and has been willing to allow the implementation of automation solutions. The pharmaceutical industry has also entered the technology domain, with 63% of the major companies investing in developing mobile applications for automatically resetting the prescription deadlines and reminding the patients regarding the refilling of prescriptions.

wireless healthcare market

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Competitive Landscape

The wireless healthcare market is fragmented, as the players are striving to increase their market shares through strategies, such as improvements in the existing solutions and software platforms, development of new platforms, and strategic alliances with other market players. Therefore, several players account for significant individual shares in the market. Key players include AT&T Inc., Cisco Systems Inc., and Motorola Solutions Inc., among others 

  • June 2019 - Aerohive Networks, a leader in cloud-managed networking, was announced as the second-largest vendor in the enterprise-class cloud-managed wireless LAN (WLAN) market in the “Cloud Managed Wireless LAN Services White Paper". There are many advantages of using Aerohive’s Cloud-managed WLAN services, and over time, small to large enterprises may take complete advantage of these services to further simplify their business models and gain operational efficiencies that come from artificial intelligence (AI) and machine learning (ML) in the healthcare sector.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Penetration of Internet and Wireless Communication Technology

      2. 4.3.2 Wearable Devices for Continuous Monitoring

    4. 4.4 Market Restraints

      1. 4.4.1 Cybersecurity and Privacy Issues

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology

      1. 5.1.1 Wireless Personal Area Network (WPAN)

      2. 5.1.2 Wi-Fi

      3. 5.1.3 Worldwide Interoperability for Microwave Access (WiMAX)

      4. 5.1.4 Wireless Wide Area Network (WWAN)

    2. 5.2 Component

      1. 5.2.1 Hardware

      2. 5.2.2 Software

      3. 5.2.3 Services

    3. 5.3 Application

      1. 5.3.1 Hospitals and Nursing Homes

      2. 5.3.2 Home Care

      3. 5.3.3 Pharmaceuticals

      4. 5.3.4 Other Applications

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 AT&T Inc.

      2. 6.1.2 Cisco Systems Inc.

      3. 6.1.3 Motorola Solutions Inc.

      4. 6.1.4 Philips Healthcare

      5. 6.1.5 Qualcomm

      6. 6.1.6 Samsung Group

      7. 6.1.7 Verizon Communication Inc.

      8. 6.1.8 Apple Inc.

      9. 6.1.9 Aerohive Networks Inc.

      10. 6.1.10 Allscripts Healthcare Solutions Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Wireless Healthcare Market market is studied from 2018 - 2026.

The Wireless Healthcare Market is growing at a CAGR of 21.2% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

  • AT&T Inc.
  • Cisco Systems Inc.
  • Motorola Solutions Inc.
  • Philips Healthcare
  • Qualcomm

Are the major companies operating in Wireless Healthcare Market.

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