Overview and Scope
Wireless healthcare refers to the integration of wireless technology into traditional medicine, such as diagnosis, monitoring, and treatment of illness, as well as other tools that can help individuals improve their personal health and wellbeing. Wireless healthcare ensures the accuracy of real-time documentation, reduces costs for consumers, provides access to real-time patient records, and enables real-time monitoring of patients’ conditions even from a remote location.
Sizing and Forecast
The wireless healthcare market size has grown rapidly in recent years. It will grow from $174.27 billion in 2023 to $205.78 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to wearable health devices, remote patient monitoring, wireless medication management, health information exchange (hie), telehealth and telemedicine expansion.
The wireless healthcare market size is expected to see rapid growth in the next few years. It will grow to $422.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to global health crisis response, cybersecurity measures, expansion of wireless health networks, digital therapeutics integration. Major trends in the forecast period include focus on chronic disease management, interoperability and data security, wearable technology integration, regulatory landscape changes, behavioral health apps.
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Segmentation & Regional Insights
The wireless healthcare market covered in this report is segmented –
1) By Technology: Wireless Personal Area Network (WPAN), Worldwide Interoperability for Microwave Access (WiMAX), Wi-Fi, Wireless Wide Area Network (WWAN)
2) By Component: Hardware, Software, Services
3) By Application: Patient Specific, Provider Specific
4) By End-User: Providers, Payers, Patients/Individuals
Asia-Pacific was the largest region in the wireless healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wireless healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising demand for remote access to healthcare via mobile phones is a major driver of the wireless healthcare market. Remote access to healthcare services via mobile phones ensures cost benefits of telehealth as less equipment is required, and it also enhances the benefits of remote patient monitoring (RPM) to reduce the burden on medical professionals. The use of smartphones also enables doctors to view patients’ documents and records. For instance, mobile devices have become commonplace in healthcare settings. In fact, research conducted by the American Medical Association in 2021 found that nearly 9 in 10 physicians see an advantage in using digital health tools. Further, healthcare providers are increasing their use of a variety of tools, including mobile devices. Thus, the increase in demand for remote access to healthcare via mobile phones is driving the wireless healthcare market growth.
Key Industry Players
Major companies operating in the wireless healthcare market report are AT&T Inc., Allscripts Healthcare Solutions Inc., Cerner Corporation, Omron Corporation, Koninklijke Philips N. V., Verizon Communications Inc., Qualcomm Inc., Vocera Communications Inc., Alcatel-Lucent Enterprise, Cisco Systems Inc., Motorola Solutions Inc., Healthcare Solutions Inc., Aerohive Networks Inc., GE Healthcare Technologies Inc., Polar Electro Oy, Nihon Kohden Corporation, Siemens AG, McKesson Corporation, Athenahealth Inc., International Business Machines Corporation, Honeywell International Inc., Medtronic plc, Boston Scientific Corporation, AstraZeneca PLC, Bristol-Myers Squibb Company, Eli Lilly and Company, UnitedHealth Group Inc., Anthem Inc., Humana Inc., Cigna Corporation, CVS Health Corporation, Walgreens Boots Alliance Inc., Rite Aid Corporation, HCA Healthcare Inc., Tenet Healthcare Corporation
The wireless healthcare market report table of contents includes:
1. Executive Summary
2. Wireless Healthcare Market Characteristics
3. Wireless Healthcare Market Trends And Strategies
4. Wireless Healthcare Market – Macro Economic Scenario
5. Global Wireless Healthcare Market Size and Growth
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26. South America Wireless Healthcare Market
27. Brazil Wireless Healthcare Market
28. Middle East Wireless Healthcare Market
29. Africa Wireless Healthcare Market
30. Wireless Healthcare Market Competitive Landscape And Company Profiles
Top Major Players:
- AT&T Inc
- Allscripts Healthcare Solutions Inc
- Cerner Corporation
- Omron Corporation
- Koninklijke Philips N. V
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