Uploaded on Jul 26, 2021
The healthcare satellite market is expected to grow from US$ 6,797.22 million in 2021 to US$ 10,105.21 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The growth of the healthcare satellite connectivity market is attributed to factors such as government initiatives for promotion and development of satellite connectivity-based solutions in healthcare and rising adoption of e-Health. However, concerns regarding data privacy hinder the market growth. For More Info @ https://www.theinsightpartners.com/reports/healthcare-satellite-connectivity-market/
Healthcare Satellite Connectivity Market is expected to reach US$ 10,105.21 Mn by 2028
Healthcare Satellite Connectivity Market Forecast to 2028 The healthcare satellite market is expected to grow from US$ 6,797.22 million in 2021 to US$ 10,105.21 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028. Healthcare satellite connectivity allows for remote medical diagnosis and care in the comfort of one's own home. It enables digital imaging, remote patient monitoring, e-learning and consultation, and access to life sessions to improve the knowledge of medical professionals located at a distance. Lucrative Regional Healthcare Satellite Connectivity Markets The growth of the healthcare satellite connectivity market is attributed to factors such as government initiatives for promotion and development of satellite connectivity- based solutions in healthcare and rising adoption of e-Health. However, concerns regarding data privacy hinder the market growth. Market Insights Growing Healthcare IT Industry in Emerging Economies Healthcare systems are experiencing growth in consumer engagement worldwide. In developing countries, the systems are becoming technologically friendly. These are experiencing an internationalization of care as established brands—such as the US-based Cleveland Clinic—expanded their businesses in the UAE, and start-ups—such as England-based Babylon, a primary care diagnostic app powered by machine learning and AI—entered into China and Rwanda markets. Moreover, with increasing investments in the Asia Pacific healthcare sector, IT start-ups offer lucrative opportunities for its growth. For instance, in December 2020, DXY (a Chinese healthcare portal company) raised US$ 500 million in a Series E round led by Trustbridge Partners. Alodokter, an Indonesian health tech platform, raised US$ 33 million Series C funding. The growing healthcare IT industry in Asia Pacific is anticipated to provide lucrative opportunities for players to expand their capabilities across the region. Also, COVID-19 pandemic has accelerated the use of digital health technologies globally. The pandemic prioritized remote monitoring solutions. Governments in the area are promoting the use of telemedicine. For instance, in March 2020, the Indian government issued the Telemedicine Practice Guidelines to enable registered medical practitioners to provide healthcare services using telecommunication and digital technologies. Such initiatives would offer lucrative opportunities for the growth of the patient portal market in the coming years. Component-Based Insights The healthcare satellite connectivity market, based on component, is segmented into medical device, system and software, and service. In 2021, the system and software segment held the largest share of the market. The same segment is expected to register the highest CAGR during 2021 to 2028. Application-Based Insights By application, the healthcare satellite connectivity market is bifurcated into e-Health and others. In 2021, the e-Health segment held a larger share of the market. However, the others segment is expected to register a higher CAGR in the market in the coming years Connectivity-Based Insights Based on connectivity, the healthcare satellite connectivity market is bifurcated into mobile satellite services and fixed satellite services. In 2021, the fixed satellite services segment held a larger share of the market. On the other side, the mobile satellite services segment is expected to register a higher CAGR in the market during the forecast period. End User-Based Insights Based on end user, the healthcare satellite connectivity market is segmented into clinical research organizations, hospitals and clinics, research and diagnostic laboratories, and others. In 2021, the hospitals and clinics segment held the largest share of the market. However, the clinical research organizations segment is expected to register the highest CAGR in the market in the coming years. Strategic Insights Product launches and approvals are commonly adopted strategies by companies to expand their global footprints and product portfolios. Moreover, the healthcare satellite connectivity market players focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name globally. The Healthcare Satellite Connectivity Market based on product is segmented into medical device, system and software, services. The system and software segment held the largest share in 2021, also the same segment is anticipated to register the highest CAGR in the market during the coming years. System and software comprise the tools that are used to provide a mobile frame and storage system. Healthcare satellite connectivity system comprises the equipment that can be used in patients at home and in a clinical setting. For instance, blood pressure monitors, Bluetooth-enabled scales, and pulse oximetry monitors are used by specialists as well as consumers. This cart is generally the most popular equipment which helps in a program running. With this help, physicians can move patient’s data room to room. Moreover, they can record and transmit a patient’s medical data. Company Profiles • Inmarsat Global Limited • Hughes Network Systems • SES S.A. • X2nSat • Expedition Communications • Globalstar • EUTELSAT COMMUNICATIONS SA • AT&T Intellectual Property • DISH Network L.L.C. • Ligado Networks Dominating Segments Healthcare Satellite Connectivity Market – by Application e-Health Telemedicine Clinical Operations Others Healthcare Satellite Connectivity Market – by Connectivity Mobile Satellite Services Fixed Satellite Services Healthcare Satellite Connectivity Market – by End User Clinical Research Organizations Hospitals and Clinics Research and Diagnostic Laboratories Others Healthcare Satellite Connectivity Market Access Full Research Report at: https://www.theinsightpartners.com/reports/healthcare-satellite-connectivity-market/ Thank You! Thank You!
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