Global wireless health market is projected to expand at a CAGR of 20.4% during forecast period

The global wireless health market was worth around USD 111.23 billion in 2021 and is estimated to grow to about USD 343.45 billion by 2028, with a compound annual growth rate (CAGR) of approximately 20.4 percent over the forecast period. The report analyzes the wireless health market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the wireless health market.

It is a basic human need to have better healthcare, from diagnosis through treatment. Everybody should have access to high-quality healthcare, which is now achievable owing to the design of advanced healthcare applications. Wireless technologies are on the verge of revolutionizing health care. The advancement of smart healthcare systems is a common trend these days, and wireless communication is the foundation of these systems. All healthcare units are implementing advanced technologies in order to provide patients with a variety of health services, treatments, and diagnoses both remotely and within hospitals. In the current circumstances, remote healthcare is widely used to provide healthcare to persons living in rural regions and those who are unable to travel. Remote health monitoring and telemedicine are two ways that make this service possible.

The global wireless health market is growing at a significant rate. Some of the primary factors that are bolstering the growth of the market include increasing use of smartphones, rising internet penetration, and growing necessity for remote patient monitoring. In addition to this, the growing inclination of the geriatric population and their family members towards wireless health for patient care is also one of the key aspects that are fostering the growth of the global market. Further, millennials choosing wireless health over other traditional methods are also equally contributing to the growth of the global market. Moreover, major players are heavily investing in the development of patient as well as provider-specific applications which in turn is boosting the market for wireless health. Additionally, wireless communication technologies are being adopted by healthcare organizations to retrieve, store, exchange, and deliver data. Healthcare practitioners increasingly use wirelessly linked laptops or tablets to enter data and use mobile phones or wireless video cameras to monitor patients and patient information. Telemedicine is carried out using a range of wireless gadgets that allow patients and healthcare practitioners to communicate with one another. All these factors are fueling the growth of the market. Furthermore, technological advancements leading to the use of wireless devices are expected to drive the growth of the market during the forecast period. However, growing concerns regarding data security with an increase in the number of cyber-attacks may limit the growth of the market.

Browse the full “Wireless Health Market By Technology (Wireless Personal Area Network (WPAN), Wi-Fi, Worldwide Interoperability for Microwave Access (WiMAX), and Wireless Wide Area Network (WWAN)), By Component (Hardware, Software, and Services), By Application (Hospitals & Nursing Homes, Home Care, and Pharmaceuticals), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/wireless-health-market

The global wireless health market is divided based on component, technology, application, and region. Based on the component segment, the global market is categorized into software, hardware, and services. Wireless Wide Area Network (WWAN), Worldwide Interoperability for Microwave Access (WiMAX), Wi-Fi, and Wireless Personal Area Network (WPAN) are the technology of the market. The application segment is bifurcated into pharmaceuticals, home care, and hospitals & nursing homes.

North America is the largest market for wireless health, the region holds nearly 40 percent of the share in the global wireless health market. This is primarily due to the increasing adoption of remote healthcare in the United States and Canada. Also, increasing penetration of smartphones equally contributes to the expansion of the market. Asia Pacific is also expected to grow at a rapid pace over the forecast period.

Recent development

• In May 2020, Philips introduced a new wearable biosensor for early identification of patient deterioration, as well as clinical management for COVID-19.
• Qure4u, AT&T, and Samsung will form a partnership in December 2021 to use FirstNet® to deliver remote patient monitoring for high-risk patients.

Major players functioning in the global wireless health market include Qualcomm, Philips Healthcare, Motorola Solutions Inc., Cisco Systems Inc., AT&T Inc., Allscripts Healthcare Solutions Inc., Aerohive Networks Inc., Apple Inc., Verizon Communication Inc., and Samsung Group.

Global wireless health market is segmented as follows:

By Technology

• Wireless Personal Area Network (WPAN)
• Wi-Fi
• Worldwide Interoperability for Microwave Access (WiMAX)
• Wireless Wide Area Network (WWAN)

By Component

• Hardware
• Software
• Services

By Application

• Hospitals and Nursing Homes
• Home Care
• Pharmaceuticals
• Other

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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