Healthcare Satellite Connectivity Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027 )

Healthcare Satellite Connectivity Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027 )

The global healthcare satellite connectivity market studied is expected to grow with an estimated CAGR of 7.1%, over the forecast period of 2022-2027.

The COVID-19 pandemic affected the demand for the global healthcare satellite connectivity market in 2020. The COVID-19 pandemic led to a dramatic decline in the footfall in the clinics and hospitals owing to the high infectivity of the SARS-CoV-2 virus because of which the demand for online consultations increased during the pandemic. For instance, according to the research study published in March 2022, titled “Telehealth Adoption During the COVID-19 Pandemic: A Social Media Textual and Network Analysis”, the pandemic may have significantly expanded the use of telemedicine, but findings indicate that this use may continue even after the pandemic has passed and hence, the COVID-19 pandemic is expected to have a significant impact on the studied market over the forecast period.

Chronic diseases like hypertension, high cholesterol, arthritis, coronary heart diseases, diabetes, kidney disorders, depression, heart failure, Alzheimer’s disease, and chronic obstructive pulmonary diseases are more common in the geriatric population. The global market for healthcare satellite connectivity has grown over time as the population ages and healthcare costs rise. These elements help the industry accept new technology more quickly. The best way to enable technology in medical services to deliver better healthcare is through satellite communication.

The growing healthcare spending on the development of telemedicine, eHealth, mHealth, and other telehealth technologies is currently driving the global healthcare satellite connectivity market. A significant development in the field of telemedicine and mobile healthcare is satellite-enabled technology. The market for healthcare satellite connections received a boost from rising device and consumer demand. The market's expansion has also been aided by the Internet of Things (IoT) rapid adoption and the rising demand for secure medical services. The adoption of information technology in medical offices and hospitals has also sped up the expansion of the global market for satellite connectivity in the healthcare industry.

In many rural areas, a lack of healthcare infrastructure, skilled workforce, and access to quality health services is observed in developing countries. The combination of satellite communication and technology-enabled services helps to enhance access to better healthcare in these underserved locations. Through the use of satellite communication, medical practitioners can learn to diagnose more remotely by using digital imaging, remote patient monitoring, consulting, and access to live sessions. Therefore, owing to the above-mentioned factors, the healthcare satellite connectivity market over the forecast period. However, bandwidth problems along with low penetration of internet services in remote areas are expected to restrain the growth of the studied market.

Key Market TrendsHospitals and Clinics Segment is Expected to Hold Significant Share Over The Forecast Period

The hospitals & clinics segment held the majority of the market. Some of the factors that contribute to the large share of the segment include the rising demand for effective hospital operations management, workflow streamlining, increased focus on improved patient safety, rising need to reduce associated high costs, and reduction of prescription and dispensing errors.

The use of technology to manage and streamline operations in hospitals and clinics has increased. Adopting technological solutions in a hospital's core operations has several advantages, including the ability to remotely monitor a patient's data and analyze it using real-time location systems (RTLS) are used to keep an overall patient database record and to monitor patient status in real-time, allowing for the delivery of improved therapies. As per the Pubmed Central publications, RTLS can also be used to track patients' physical movements, especially in the case of Alzheimer's and dementia patients. When a patient comes too close to an entrance or an exit, for example, or wanders away from a designated area or tries to escape the building, an RTLS can warn staff and locate the resident.

North America Region is Expected to Occupy a Major Share in the Healthcare Satellite Connectivity Market Over the Forecast Period

With respect to geography, North America leads the global healthcare satellite connectivity market. The growing adoption of internet infrastructure & connectivity along with the rising number of Internet users is leading to the growth of the satellite connectivity market in this region. North America, being economically and technologically advanced, has solid internet connectivity with improved telecommunication technologies which boosted the healthcare satellite connectivity market in the North American region. The United States has been considered the biggest market in the region because of the huge usage of telemedicine and telehealth services. In the United States, collaboration the telemedicine providers with insurance providers have been strengthening the growth in the global healthcare satellite connectivity market. In the past few years, North America dominated the market. The presence of high-speed Internet, advanced telecommunication technologies, and the increasing need for integration of such technologies in healthcare are boosting the growth of the market in North America. Besides, a rise in chronic diseases that require critical care, and the presence of sophisticated healthcare infrastructure are further likely to drive healthcare satellite connectivity market growth over the forecast period. According to the National Diabetes Statistics Report 2022, 11.3% of the United States population has been suffering from Diabetes

Competitive Landscape

The healthcare satellite connectivity market is moderately competitive and consists of a small number of major players. In terms of market share, a small number of major players are currently dominating the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market by using new technologies. Major market players operating in the healthcare satellite connectivity market include Expedition Communications, Globalstar, SES S.A., Hughes, and Inmarsat plc.

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