Market Size of Massive Machine Type Communication in Healthcare Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.34 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Massive Machine Type Communication In Healthcare Market Analysis
The Massive Machine Type Communication in Healthcare Market is expected to grow at a CAGR of 7.34% over the forecast period (2021-2026). With the rapid penetration of advanced technology and embedded devices, healthcare is undergoing an expeditious transformation toward a distributed, patient-centric approach, accommodating the need for faster, accurate, and real-time response solutions.
Healthcare devices are currently running on existing technologies, such as Wi-Fi, Bluetooth, and low-power technologies, but as the market matures, the need for connectivity to various devices will fuel the growth of massive machine type communication.
- Today, the healthcare segment faces numerous challenges such as infrastructure, connectivity, optimal resource, need for a specialist, data management, and real-time monitoring, driving the technological applications to fill the considerable gap. As per close examination of the worldwide statistics with available data for 2005-2015, indicated that around 40% of countries have less than one physician per 1000 population and less than 18 hospital beds per 10,000 population, driving the growth of the market.
- The emerging 5G network is anticipated to support smart healthcare applications that can fulfill most of the requirements, such as ultra-low latency, high bandwidth, ultra-high reliability, high density, and high energy efficiency. The advent of 5G is expected to support smart healthcare by faster and precise communication between machines and devices.
