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Massive Machine Type Communication in Healthcare Market 2021-2026: Wireless Machine Holds the Dominant Position - ResearchAndMarkets.com

·4 min read

The "Massive Machine Type Communication in Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

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.

Key Market Trends

Wireless Machine Holds the Dominant Position in the Massive Machine Type Communication in Healthcare Market

Health condition monitoring is particularly important in chronic conditions hence, continuous monitoring and recording of signals through wearable provides a realistic view of the patient's health condition. Low power wearable also prevents patients daily visit to the clinical center for regular checkups and enable to track blood pressure, pulse rates, temperature, and HRR, etc. In the future, devices are expected to be connected to the wireless ecosystem and will transmit data automatically to the application server, via the M2M network, and enable the doctors to track the patient's health conditions remotely.

Wireless transmission through the devices improves the patient's mobility and provides an opportunity to monitor outside the health organizations. It will also act as a lifesaver by monitoring the patient's condition in real-time and in case of an emergency the information from sensors can be communicated to the nearby hospitals.

North America holds the Dominant Position in the Massive Machine Type Communication in Healthcare Market

North America is expected to be the highest revenue contributor to the market, by 2025, due to an increase in the health-conscious customer base and investments in R&D of technologies and devices, to remotely provide expert medical treatment.

Next-generation 5G systems that are designed to provide wireless connectivity for massive machine-type communications (mMTC) and to support ultra-reliable, low latency communication (URLLC) are also driving the market in North America. Many hospitals are investing on equipment's and technologies to improve clinical outcomes and enhance patient safety. For instance, Saratoga Hospital in Saratoga Springs, New York, is ultilizing Philips' IntelliVue Guardian Solution patient monitoring technology, and has reduced 63% of the cases being transferred to the intensive care units.

Competitive Landscape

The massive machine type communication in healthcare market consists of several major players and is moderately competitive. Few of the major players currently dominate the market, in terms of market share. The market is moderately fragmented and there is a high level of competition. These major players, with prominent shares in the market, are focusing on expanding the customer base across foreign countries, through strategic alliances.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Insights

5 Market Dynamics

5.1 Market Drivers

5.1.1 Augmented Demand for a Better Healthcare Connectivity Experience

5.1.2 Emergence of 5G Complementing Healthcare IoT

5.2 Market Challenges

5.2.1 Huge Initial Capital Investment Involved in Developing 5G Infrastructure

5.2.2 Security and Privacy of Patient's Data

5.3 Industry Value Chain Analysis

6 Market Segmentation

6.1 By Communication Channel Type

6.2 By Application (Qualitative Trend Analysis)

6.2.1 Equipment Management

6.2.2 Remote Monitoring

6.2.3 Medical diagnostic

6.2.4 Others Applications

6.3 By Region

7 Competitive Landscape

  • Telefonaktiebolaget LM Ericsson

  • Nokia Corporation

  • Cisco Systems Inc.

  • Panasonic Corporation

  • Koninklijke Philips NV

  • Huawei Technologies Co. Ltd

  • Telecom Italia (TIM SpA)

  • Qualcomm Incorporated

  • Intel Corporation

8 Investment Analysis

9 Future of The Market

For more information about this report visit https://www.researchandmarkets.com/r/yskp98

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210305005231/en/

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