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/
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