North America Wireless Healthcare Market - Growth, Trends, Forecasts (2022 - 2027)

North America Wireless Healthcare Market - Growth, Trends, Forecasts (2022 - 2027)

The North America Wireless Healthcare market is expected to grow at a CAGR of 21% during the forecast period of 2020-2025. Wireless technology creates highly connected healthcare environments that can help hospitals address the challenges, and it is also playing a critical role in reshaping the future of healthcare, for both patients and healthcare professionals.

Key Highlights
  • The growing demand for remote patient monitoring solutions, owing to the aging population and long-term chronic disease conditions,especially in the US, is the major factor impacting the growth of the market. There is a constant pressure on hospital administrators to lower costs while continuing to improve the level of patient care. In this environment, hospitals are turning to wireless technologies, to operate more efficiently, support patient care, and improve their experience.
  • Wireless RFID technology also allows hospitals to track the real-time location of critical equipment and the condition of the equipment. The Shands hospital in Florida experienced a 98.8% reduction in the hours spent searching for missing items, by adopting wireless technology.
  • There is an increased number of services and applications associated with IoT across different end-user industry disciplines. IoT has evolved from RFID and wireless sensor network (WSN) technologies to more advanced technology, with the integration of cloud computing, Internet services, cyber-physical systems, and interconnections between hardware and software devices. Machine learning and AI capabilities are taking their skills to the next level, especially in the current healthcare industry.
  • A worldwide shortage of healthcare workers is another parameter influencing the market dynamics. For instance, the United States alone is projected to face a shortage of 124,000 physicians by 2025, which is much lesser than the anticipated shortages in Asian and African regions. These factors indicate the need for the upgraded medical facilities and improvement in the healthcare sector, which, in turn, is expected to drive the market, as advanced and connected medical equipment are likely to experience more demand.
Key Market TrendsHardware to hold a Major market share
  • The healthcare organizations, in order to balance the complexities of digital transformation with innovative technology, are maintaining safety and compliance. This involves dealing with challenges, like streamlining processes, interoperability, and maintaining connectivity, drive better patient outcomes. This is expected to boost the adoption of the hardware that enable them to maintain the connectivity.
  • The emergence of wireless wide area networks (WWAN), such as 5G, is one of the prominent factors that is propelling the players in the hardware sector to make their offerings compatible with the emerging network trend, in turn boosting the market growth over the forecast period,
  • In April 2019, the US President, Trump, spoke about the 5G arrangements and announced the US-wide deployment of 5G, for the enhancement of wireless healthcare services. North America is one of the leading regions in wireless healthcare services. According to Extreme Networks, 71% of the hospitals in this region have biomedical devices on wireless networks.
  • Verizon has also announced to invest over USD 1 billion in physical infrastructure for 5G network in the United States. Shifting the healthcare to a 5G network is an evolution, and it is expected to take certain time, but such investments are expected to drive the growth for wireless healthcare market in the region, as 5G enables fast data processing.
Pharmaceutical to Hold the Highest Market Share
  • Pharmaceutical companies have a central role in the digital revolution of the healthcare industry. Pharmaceutical companies are trying to keep pace with the changes brought about by digital technology. The cloud, advanced analytics, mobile communications, and IoT are among the innovations that are starting to transform the healthcare industry.
  • Wireless healthcare is helping pharmaceutical marketers to promote brand awareness and to enhance communication accuracy by supporting consumers who are willing to improve their health. Pharma innovations can be introduced to targeted care specialists through automated reminders and non-intrusive messaging. Pharmaceutical mobile technology also helps various researchers and other medical personnel to access protocols, guidelines, and other vital training materials more easily.
  • The IoT technology keeps patients better connected to doctors via remote monitoring and virtual visits. It optimizes the pharmaceutical manufacturing process, which can result in lower drug prices. Furthermore, it maintains quality control and manages sensitive items, while they are in transit. It can even lower the healthcare costs by streamlining the overall process.
  • Rush University Medical Center and the Rush System for Health in Chicago partnered with AT&T to use 5G network, its multi-access edge computing (MEC), and cloud-based edge IT service environment to offer connected healthcare service by expanding telemedicine, delivering real-time remote healthcare monitoring, and creating the capability to transmit large imaging files quickly.
  • Moreover, Novartis partnered with Qualcomm Life to develop an internet-connected inhaler (known as the Next-generation Breezhaler), which has the ability to send information to a cloud-based Big Data analytics platform, which healthcare providers can use to treat patients with chronic obstructive pulmonary disease (COPD). The company announced plans to launch the product by the end of 2019, following manufacturing, testing, and regulatory approval.
Competitive Landscape

The Wireless Healthcare Market in North America appears to be concentrated due to the presence of a less number of vendors. This industry research report offers information about the competitive environment among players in this market space. Major players includeAT&T Inc, Apple Inc, Cisco Systems Inc. Samsung Electronics Co Ltd., among others.

  • December 2019- Qualcomm introduces the world’s most advanced 5G platform known as Qualcomm Snapdragon 865 5G Mobile platform, which is equipped with the world’s most advanced 5G modem- RF system that gives premium experience for the upcoming next generation smartphone devices that give uninterrupted connectivity surpassing most wired connections and advance performance, which are expected from the next generation smartphone devices.
  • December 2019- Verizon has introduced its 5G wireless technology into 20 countries for better connectivity. The Ulta 5G bandwidth has been a network connection for next generation connectivity.
Additional Benefits:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Assesment of Covid-19 impact on Wireless Healthcare Market
4.3 Market Drivers
4.3.1 Increasing Adoption of Connected Devices in Healthcare
4.3.2 Growing Technological Advancements
4.4 Market Restraints
4.4.1 Lack of Networking Infrastructure
4.4.2 Data Security and Device Certification Challenges
4.5 Value Chain Analysis
4.6 Porters Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Technology Snapshot
4.7.1 Wireless Personal Area Network (WPAN)
4.7.2 Wi-Fi
4.7.3 Worldwide Interoperability for Microwave Access (WiMAX)
5 MARKET SEGMENTATION
5.1 Component
5.1.1 Hardware
5.1.2 Software
5.1.3 Services
5.2 Application
5.2.1 Hospitals and Nursing Homes
5.2.2 Home Care
5.2.3 Pharmaceuticals
5.3 Country
5.3.1 USA
5.3.2 Canada
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AT&T Inc
6.1.2 Cisco Systems Inc.
6.1.3 Motorola Solutions Inc.
6.1.4 Qualcomm Inc.
6.1.5 Samsung Electronics Co. Ltd
6.1.6 Verizon Communication Inc
6.1.7 Apple Inc.
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET

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