The global Healthcare Satellite Connectivity market size is expected to be worth around US$ XX billion by 2030, according to a new report by Vision Research Reports.
The global Healthcare Satellite Connectivity market size was valued at US$ 15.1 billion in 2020 and is anticipated to grow at a CAGR of 17.1 % during forecast period 2021 to 2030.
Growth Factors
The rising healthcare expenditure toward the development of eHealth, telemedicine, telehealth, and other mHealth solutions is one of the key contributors to the growth of the market.
The usage of different technology platforms is increasing rapidly as hospitals and medical institutions are focusing more on efficiency and improved delivery of services to patients. The rising prevalence of chronic diseases, advancing age of the population, and rise in overall medical service costs are leading to the increasing adoption of technology in the healthcare industry. Many rural areas still lack healthcare infrastructure, skilled workforce, and access to quality health services. The integration of technology-enabled services along with satellite connectivity assists in providing improved access to better health services to such deprived areas. The implementation of satellite connectivity enables digital imaging, remote patient monitoring, e-learning & consultation, and access to life sessions to improve the knowledge of medical professionals located at a distance.
Report Highlights
The system & software segment held the majority of revenue share in 2020 accounting for about 49.7%. Various software is available for the management of the patient database, medical records, and other operations. The growing demand for data analytics in healthcare and the rapid implementation of technology in medical services contribute to the large share of the segment.
The services segment is expected to emerge as the fastest-growing segment over the forecast period with a CAGR of 7.5%. Rising demand for seamless data flows between people and devices to boost the efficiency of medical devices, enhance security, and enable informed decision-making in real-time are some of the factors that are expected to drive the growth of this segment.
System integration services, consulting, training & education, and support & maintenance services are the various technology-based services in the healthcare market. Growing demand for seamless data flows between people and devices to boost the efficiency of the medical devices, enhance security, and enable informed decision-making in real-time are some of the factors that are expected to drive the services segment.
The satellite technology in eHealth was the dominating segment in 2020. The increasing number of government initiatives in various regions, rising concern for patient safety, and an upsurge in demand for effective delivery of care services are some of the key contributors to the healthcare satellite connectivity market growth.
The other segment is anticipated to emerge as the fastest-growing segment with a CAGR of 8.6% during the forecast period. The other segment includes applications such as connected imaging, emergency services & disaster response, and distance education. Advanced miniaturized equipment is used to transfer data to the medical center through the satellite systems during emergencies and in response to disasters or rescue operations.
For instance, the European Space Agency's DELTASS (Disaster Emergency Logistic Telemedicine Advanced Satellite System) is a space-based system that assists in disaster response activities and management of medical-aid in natural disasters. In these cases, the satellite communications help complement the damaged terrestrial communications. The growing adoption of satellite technology and the Internet of Things (IoT) in connected imaging is expected to drive the growth of this segment in the future.
The hospitals & clinics segment held the majority of the market in 2020 with a share of 65.3% and is expected to continue its dominance over the forecast period. The increasing demand for efficient management of hospital operations, streamlining the workflow, increasing focus on improved patient safety, rising need to reduce the associated high costs, and reduce the errors in prescription & dispensing are some of the factors that contribute to the large share of the segment.
There has been a growing adoption of technology in streamlining and managing the operations of hospitals and clinics. Adopting of technological solutions in core activities of hospital results in various benefits such as remote monitoring of a patient’s data, data analysis from Real-Time Location Systems (RTLS) to maintain a central database record of all patients, and real-time monitoring of patient conditions, which enable the provision of enhanced treatments.
Rising awareness about such benefits is a key factor expected to boost the usage of information technologies in hospitals and clinics. The growing focus on improved patient safety and achieving clinical efficiency is also a key contributing factor for increasing the usage of satellite communication technology in hospitals and clinics.
Based on connectivity, the market is segmented as Fixed Satellite Services (FSS) and Mobile Satellite Services (MSS). The FSS segment was the dominating segment in 2020 due to its rising usage and increased application in eHealth and telemedicine. However, the MSS segment is expected to be the fastest-growing segment with a CAGR of 10.5% over the forecast period.
FSS in healthcare is anticipated to grow rapidly owing to the growing demand for data transmission and connectivity. The FSS operates using the ground station at a given position, which is fixed to a specific location and uses the Very Small Aperture Terminal (VSAT) technology to enable high-speed data transmission to users across different locations.
The use of mobile stationary services is growing rapidly due to technological advancements such as the use of mobile apps, sensors, real-time patient monitoring, and asset tracking. The rising consumption of voice and data services from emerging areas such as eHealth, telehealth, and emergency & disaster response is anticipated to significantly boost growth over the forecast period.
North America dominated the market with a revenue share of 35.4%. 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 the region. 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 market growth over the forecast period.
The U.S. is the largest market in the region due to the wide usage of telehealth and related services. Various government as well as nongovernment initiatives are boosting the penetration of information technologies in healthcare. The National HIT initiative promotes Health IT, which includes interoperability, adoption, privacy & security, and collaborative governance. This initiative aims to save 10% of overall healthcare expenditure.
Insurance providers are also collaborating with telemedicine providers for a number of their health plans. For instance, in 2014, the Blue Cross Blue Shield Association collaborated with the provider American Well to provide telemedicine services to approximately 3.5 million of its members. This trend is further strengthening the market growth in the U.S.
Asia Pacific is anticipated to be the fastest-growing region with a CAGR of 8.5%. The region is witnessing increasing spending on healthcare, growing adoption of advanced technologies, and rising government initiatives for the adoption of digital & advanced technologies for better outcomes. For instance, in India, the government launched a telemedicine initiative called “Sehat” in 2015 in line with its vision of Digital India. This initiative aims to connect healthcare centers & facilities all over the nation and provide access to improved care to all the citizens.
Key Players
Inmarsatplc; Hughes Network Systems LLC, SES S.A., X2nSat, Expedition Communications, Globalstar, and Eutelsat
Market Segmentation
Component Outlook
Medical Device
Wearable External Devices
Implanted Medical Devices
Stationary Medical Devices
System & Software
Remote Device Management
Network Bandwidth Management
Data Analytics
Application Security
Network Security
Services
System Integration Services
Consulting, Training & Education
Support & Maintenance Services
Application OutlooK
eHealth
Telemedicine
Clinical Operations
Others
Connected Imaging
End-use Outlook
Clinical Research Organization (CRO)
Hospitals & Clinics
Research & Diagnostic Laboratories
Others
Connectivity Outlook
Mobile Satellite Services (MSS)
Fixed Satellite Services (FSS)
Regional Outlook
North America
The U.S.
Canada
Europe
Germany
UK
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
MEA
South Africa
Nigeria
The Healthcare Satellite Connectivity market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Healthcare Satellite Connectivity market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Healthcare Satellite Connectivity market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Healthcare Satellite Connectivity market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Healthcare Satellite Connectivity market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Healthcare Satellite Connectivity capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Healthcare Satellite Connectivity by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Healthcare Satellite Connectivity market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Healthcare Satellite Connectivity market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Healthcare Satellite Connectivity market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Healthcare Satellite Connectivity industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Healthcare Satellite Connectivity market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Healthcare Satellite Connectivity market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Healthcare Satellite Connectivity market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Healthcare Satellite Connectivity market. These factors have benefited the growth of the global market for Healthcare Satellite Connectivity. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Healthcare Satellite Connectivity. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Healthcare Satellite Connectivity are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
1
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers