The global medical device security market size is expected to reach USD 9.78 billion by 2028 registering a CAGR of 8.5% over the forecast period according to the latest report by Reports and Data. Major factors driving market revenue growth are rising number of healthcare cyber-attacks and expanding pharmaceutical industries. Increasing healthcare devices manufacturers coupled with growing digitalization will also drive market growth.
Medical devices that are linked to the internet provide healthcare facilities with multiple ways to better track and manage patients. They do, however, provide opportunities for cyberattacks aimed at stealing highly personal information or disrupting treatment efforts. The technologies and practises that prevent attackers from gaining unauthorised access or control over medical devices and the data they produce are referred to as medical device cybersecurity.
Medical devices are increasingly being connected to healthcare networks and other medical devices in order to have capabilities that increase the efficiency of health care providers to manage patients. Regulatory bodies that authorise the sale of such devices may refuse to approve them for use by general public if these same features increase the risk of potential cybersecurity threats. Medical devices are vulnerable to security breaches, which could jeopardise the device's safety and efficacy. Medical device manufacturers must be careful in recognising threats and hazards associated with their devices including cybersecurity dangers according to the US Food and Drug Administration. This has enhanced growth of the medical device protection market significantly.
Furthermore, the medical device protection market is expected to expand due to technological advancements, increasing healthcare research activities, rising digital health education trends, and proliferation of connected medical devices over the forecast period.
However, high security costs, lack of knowledge about security arrangements and complexity of medical device security are major factors that will limit market growth to a significant extent over the forecast period. Furthermore, revenue growth is hampered by scarcity of qualified professionals to operate such sophisticated security systems.
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The global Medical Device Security market research report covers study of competitive landscape, product analysis, application analysis, regional analysis, revenue assessment, cost structure analysis, and revenue forecast up to 2028. The report uses advanced analytical tools to research, gather, and analyze data. The in-depth research report has been formulated through extensive primary and secondary research and further corroborated from industry experts, professionals, and research analysts. The report covers a complete analysis of the Medical Device Security industry and offers the reader a competitive advantage to stay ahead of the other players.
Key companies operating in the global market and profiled in the report:
Cisco Systems, IBM, GE Healthcare, Symantec, CA Technologies, Philips, DXC Technology, CloudPassage, FireEye, Check Point Software Technologies, Sophos, Imperva, Fortinet, Palo Alto Networks, ClearDATA, Zscaler.
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The report offers a comprehensive analysis of the key geographical regions to provide insights into key factors influencing market growth in the regions. Production and consumption ratio, import/export analysis, supply and demand, consumer behavior and demands, current and emerging trends, regulatory framework, strategic alliances, technological advancements, economic growth, and robust presence of key players in each region. The report also covers an extensive country-wise analysis to provide better understanding of the market growth in each key region of the world and help investors, stakeholders, and clients to capitalize on lucrative growth opportunities.
Regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific(India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America(Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Medical Device Security Market Segmentation:
Type Outlook (Revenue, USD Million; 2018 – 2028)
- Network Security
- Endpoint Security
- Cloud Security
- Application Security
- Others
Device Outlook (Revenue, USD Million; 2018 – 2028)
- Wearable and External Medical Devices
- Hospital Medical Devices
- Internally Embedded Medical Devices
Component Outlook (Revenue, USD Million; 2018 – 2028)
- Solution
- Risk Compliance Management
- Identity Access Management (IAM)
- Encryption
- Antivirus/Antimalware
- Other Solutions
- Services
- Training Education Services
- Consulting
- Professional services
- Support Maintenance
- Design Integration
- Other Services
End User Outlook (Revenue, USD Million; 2018 – 2028)
- Healthcare Providers
- Medical Device Manufacturers
- Healthcare Payers
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