Healthcare Satellite Connectivity Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (System and Software, Medical Device, and Services), Application (e-Health and Others), Connectivity (Mobile Satellite Services and Fixed Satellite Services), and End Users (Clinical Research Organizations, Hospitals and Clinics, Research and Diagnostic Laboratories, and Others) and Geography
Publication Month: Jul 2021 | Report Code: TIPHC00002288 | No. of Pages: 274 | Category: Healthcare IT | Status: Published
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.
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.
Lucrative Regions for Healthcare Satellite Connectivity Market
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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.
Healthcare Satellite Connectivity Market by Component – 2021 and 2028
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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 report segments the Healthcare Satellite Connectivity Market as follows:
Healthcare Satellite Connectivity Market – by Component
- System and Software
- Remote Device Management
- Network Bandwidth Management
- Data Analytics
- Application Security
- Network Security
- Medical Device
- Wearable External Device
- Implanted Medical Device
- Stationary Medical Device
- Services
- System Integration Services
- Consulting
- Training and Education
- Support and Maintenance Services
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 – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South and Central America
- Brazil
- Argentina
- Rest of South and Central America
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
The List of Companies - Healthcare Satellite Connectivity Market
- 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
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Healthcare Satellite Connectivity Market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Healthcare Satellite Connectivity Market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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