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Massive Machine Type Communication in Healthcare Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Massive Machine Type Communication in Healthcare Market is Segmented by Communication Channel Type (Wired and Wireless), Application (Remote Monitoring, Equipment Management, and Medical Diagnostic), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

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Massive Machine Type Communication In Healthcare Market Size

Massive Machine Type Communication In Healthcare Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.34 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

Massive Machine Type Communication In Healthcare Market Key Players

*Disclaimer: Major Players sorted in no particular order

Massive Machine Type Communication In Healthcare Market Analysis

The Massive Machine Type Communication in Healthcare Market is expected to grow at a CAGR of 7.34% over the forecast period (2021-2026). With the rapid penetration of advanced technology and embedded devices, healthcare is undergoing an expeditious transformation toward a distributed, patient-centric approach, accommodating the need for faster, accurate, and real-time response solutions.

Healthcare devices are currently running on existing technologies, such as Wi-Fi, Bluetooth, and low-power technologies, but as the market matures, the need for connectivity to various devices will fuel the growth of massive machine type communication.

  • Today, the healthcare segment faces numerous challenges such as infrastructure, connectivity, optimal resource, need for a specialist, data management, and real-time monitoring, driving the technological applications to fill the considerable gap. As per close examination of the worldwide statistics with available data for 2005-2015, indicated that around 40% of countries have less than one physician per 1000 population and less than 18 hospital beds per 10,000 population, driving the growth of the market.
  • The emerging 5G network is anticipated to support smart healthcare applications that can fulfill most of the requirements, such as ultra-low latency, high bandwidth, ultra-high reliability, high density, and high energy efficiency. The advent of 5G is expected to support smart healthcare by faster and precise communication between machines and devices.

Massive Machine Type Communication In Healthcare Market Trends

This section covers the major market trends shaping the Massive Machine Type Communication In Healthcare Market according to our research experts:

Wireless Machine Holds the Dominant Position in the Massive Machine Type Communication in Healthcare Market

Health condition monitoring is particularly important in chronic conditions hence, continuous monitoring and recording of signals through wearable provides a realistic view of the patient's health condition. Low power wearable also prevents patients daily visit to the clinical center for regular checkups and enable to track blood pressure, pulse rates, temperature, and HRR, etc. In the future, devices are expected to be connected to the wireless ecosystem and will transmit data automatically to the application server, via the M2M network, and enable the doctors to track the patient's health conditions remotely.

Wireless transmission through the devices improves patient’s mobility and provides an opportunity to monitor outside the health organizations. It will also act as a lifesaver by monitoring the patient's condition in real-time and in case of an emergency the information from sensors can be communicated to the nearby hospitals.

Medical transportation vehicles are challenging and can cost a life due to missed or delayed arrival because of lesser experienced or unavailability of driver. Hence, there is the desire in the healthcare industry for a unique solution to deliver patient on time. Autonomous vehicle (Ambulance) in future could be employed by the hospitals to delivery patient. Currently, companies are investing to research and develop methods for patient delivery through autonomous vehicles. For instance, seven major cities around the world (four in the United States) are participating in the Bloomberg Aspen Initiative (a collaboration between Bloomberg Philanthropies and The Aspen Institute) to research and develop the means for promoting AV patient delivery. 

Massive Machine Type Communication In Healthcare Market Research

North America holds the Dominant Position in the Massive Machine Type Communication in Healthcare Market

North America is expected to be the highest revenue contributor to the market, by 2025, due to an increase in the health-conscious customer base and investments in R&D of technologies and devices, to remotely provide expert medical treatment.

Next-generation 5G systems that are designed to provide wireless connectivity for massive machine-type communications (mMTC) and to support ultra-reliable, low latency communication (URLLC) are also driving the market in North America. Many hospitals are investing on equipment's and technologies to improve clinical outcomes and enhance patient safety. For instance, Saratoga Hospital in Saratoga Springs, New York, is ultilizing Philips' IntelliVue Guardian Solution patient monitoring technology, and has reduced 63% of the cases being transferred to the intensive care units.

Massive Machine Type Communication In Healthcare Market Trends

Massive Machine Type Communication In Healthcare Industry Overview

The massive machine type communication in healthcare market consists of several major players and is moderately competitive. Few of the major players currently dominate the market, in terms of market share. The market is moderately fragmented and there is a high level of competition. These major players, with prominent shares in the market, are focusing on expanding the customer base across foreign countries, through strategic alliances. 

In February 2020, Telenor Sweden signed an agreement with Ericsson and joined the Ericsson Industry Connect partner program. Telenor Sweden is the first mobile network operator across the globe to join the Ericsson's program and also become a reseller of Ericsson Industry Connect. The customer base of Telenor Sweden with this are expected to be able to fully utilize the potential of IT-centric LTE networks customized for smart manufacturing applications. 

Massive Machine Type Communication In Healthcare Market Leaders

  1. Nokia Corporation

  2. Telefonaktiebolaget lm ericsson

  3. Cisco Systems, Inc.

  4. Panasonic Corporation

  5. Huawei Technologies Co., Ltd

*Disclaimer: Major Players sorted in no particular order

Nokia Corporation, Telefonaktiebolaget lm ericsson, Cisco Systems, Inc., Panasonic Corporation, Huawei Technologies Co., Ltd
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Massive Machine Type Communication In Healthcare Market Report - Table of Contents

  1. 1. Introduction

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. Research Methodology

  3. 3. Executive Summary

  4. 4. Market Insights

    1. 4.1 Market Overview

    2. 4.2 Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

  5. 5. Market Dynamics

    1. 5.1 Market Drivers

      1. 5.1.1 Augmented Demand for a Better Healthcare Connectivity Experience

      2. 5.1.2 Emergence of 5G Complementing Healthcare IoT

    2. 5.2 Market Challenges

      1. 5.2.1 Huge Initial Capital Investment Involved in Developing 5G Infrastructure

      2. 5.2.2 Security and Privacy of Patient's Data

    3. 5.3 Industry Value Chain Analysis

  6. 6. Market Segmentation

    1. 6.1 By Communication Channel Type

      1. 6.1.1 Wired

      2. 6.1.2 Wireless

    2. 6.2 By Application (Qualitative Trend Analysis)

      1. 6.2.1 Equipment Management

      2. 6.2.2 Remote Monitoring

      3. 6.2.3 Medical diagnostic

      4. 6.2.4 Others Applications

    3. 6.3 By Region

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia Pacific

      4. 6.3.4 Rest of the World

  7. 7. Competitive Landscape

    1. 7.1 Company Profiles

      1. 7.1.1 Telefonaktiebolaget LM Ericsson

      2. 7.1.2 Nokia Corporation

      3. 7.1.3 Cisco Systems Inc.

      4. 7.1.4 Panasonic Corporation

      5. 7.1.5 Koninklijke Philips NV

      6. 7.1.6 Huawei Technologies Co. Ltd

      7. 7.1.7 Telecom Italia (TIM SpA)

      8. 7.1.8 Qualcomm Incorporated

      9. 7.1.9 Intel Corporation

    2. *List Not Exhaustive

  8. 8. Investment Analysis

  9. 9. Future of The Market

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Massive Machine Type Communication In Healthcare Industry Segmentation

Massive machine communication (MMC) or massive machine to machine communication is a machine to machine communication over wired or wireless networks, where data generation, information exchange, and actuation takes place with minimal or no intervention from humans.

By Communication Channel Type
Wired
Wireless
By Application (Qualitative Trend Analysis)
Equipment Management
Remote Monitoring
Medical diagnostic
Others Applications
By Region
North America
Europe
Asia Pacific
Rest of the World
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Massive Machine Type Communication In Healthcare Market Research FAQs

The Massive Machine Type Communication in Healthcare Market is projected to register a CAGR of 7.34% during the forecast period (2024-2029)

Nokia Corporation, Telefonaktiebolaget lm ericsson, Cisco Systems, Inc., Panasonic Corporation and Huawei Technologies Co., Ltd are the major companies operating in the Massive Machine Type Communication in Healthcare Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Massive Machine Type Communication in Healthcare Market.

The report covers the Massive Machine Type Communication in Healthcare Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Massive Machine Type Communication in Healthcare Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Massive Machine Type Communication in Healthcare Industry Report

Statistics for the 2024 Massive Machine Type Communication in Healthcare market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Massive Machine Type Communication in Healthcare analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Massive Machine Type Communication in Healthcare Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)