Wireless Healthcare Global Market Report 2022

Wireless Healthcare Global Market Report 2022

  • June 2022 •
  • 175 pages •
  • Report ID: 6282663 •
  • Format: PDF
Major players in the wireless healthcare market are AT &T Inc., Allscripts Healthcare Solutions Inc., Cerner Corporation, Omron Corporation, Philips Healthcare, Verizon Communications Inc., Qualcomm Inc., Vocera Communications Inc., Alcatel-Lucent, Cisco Systems Inc., Motorola Solutions Inc., Healthcare Solutions Inc., Aerohive Networks Inc, GE Healthcare, Polar Electro, Nihon Kohden, and Siemens A.G.

The global wireless healthcare market is expected to grow from $123.0 billion in 2021 to $151.68 billion in 2022 at a compound annual growth rate (CAGR) of 23.31%. The market is expected to grow to $313.20 billion in 2026 at a CAGR of 19.87%.

The wireless healthcare market consists of sales of wireless helthcare products and related services by entities (organisations, sole traders and partnerships) that integrate wireless technology into the 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.

The main types of technologies for wireless healthcare include Wireless Personal Area Network (WPAN), Worldwide Interoperability for Microwave Access (WiMAX), Wi-Fi, and Wireless Wide Area Network (WWAN).Components of wireless healthcare include hardware, software, and services.

Wireless Personal Area Network (WPAN) is used to convey information over short distances among a private, intimate group of participant devices.It is a network for interconnecting devices centered around an individual person’s workspace in which the connections are wireless and the kind of network may rely on technologies such as Ultra-Wide Band (UWB), Bluetooth, or ZigBee.

The major applications of wireless healthcare are patient specific and provider specific. Major end users associated with wireless healthcare are providers, payers, and patients.

Asia Pacific was the largest region in the wireless healthcare market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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 usage of smartphones also enables the doctors to view patients’ documents and records.For instance, mobile devices have become commonplace in healthcare settings.

In fact, a 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 growth of the wireless healthcare market.

Wearable healthcare devices are a recent trend in the wireless healthcare market.Wearables are small electronic devices that are placed on the body, and can help measure temperature, blood pressure, blood oxygen, breathing rate, sound, GPS location, elevation, physical movement, changes in direction, and the electrical activity of the heart, muscles, brain, and skin.

The intelligent wearable sensors promote the transformation of healthcare from a traditional hospital-centered model to a personal portable device-centered model.There is an urgent need of real-time, multi-functional, and personalized monitoring of various biochemical target substances and signals based on the intelligent wearable sensors for health monitoring, especially wound healing.

Companies such as Proteus, Neurotech, and Philips Healthcare have launched wearable healthcare devices into the market.

In 2020, Philips Healthcare, a Netherlands based company that specializes in healthcare products, acquired BioTelemetry for $2.8 billion. Philips acquired BioTelemetry as it provides cardiac and mobile blood-glucose monitoring, centralized medical imaging and original equipment manufacturing services to the healthcare and clinical research sectors. BioTelemetry operates in diagnostic imaging systems, patient care and clinical informatics, and home healthcare.

The countries covered in the Wireless Healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.