The global medical device security market size reached US$ 8.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.9 Billion by 2028, exhibiting a growth rate (CAGR) of 15.1% during 2023-2028.
Medical device security refers to the implementation of tools, techniques and procedures for preventing unauthorized access to medical devices. The security solutions enable healthcare providers to track patients and healthcare data and secure sensitive information from security threats and attacks, such as leakage of data and unlawful control of medical equipment. Medical device security utilizes encryption, data loss prevention, identity and access management, antivirus and antimalware, risk and compliance solutions and services that can be deployed on-premises or on the cloud. They also aid in preventing invasion of privacy, maintaining health records and increasing diagnostic accuracy. As a result, medical device security solutions are widely used across hospitals, clinics, diagnostic laboratories and ambulatory surgical centers.
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Medical Device Security Market Trends:
The increasing instances of cyber-attacks and threats in the healthcare industry represent one of the key factors driving the growth of the market. Medical device security is widely used for data and system protection from unauthorized manipulation and malicious software to safeguard patient records that are critical to hospitals. Additionally, the widespread adoption of digital solutions for automated collection and storage of data for improving patient care and reducing errors is favoring the market growth. Moreover, various technological advancements, such as the integration of healthcare systems with artificial intelligence (AI) and the Internet of Things (IoT) solutions, are providing a thrust to the market growth. These technologies aid in protecting systems, networks and data by identifying and neutralizing cyber threats and malicious activities with security monitoring and real-time dynamic threat intelligence. Other factors, including the implementation of various government initiatives promoting the adoption of digital security solutions in the healthcare industry, along with the widespread adoption of cloud-based medical device security solutions, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medical device securitymarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on device type, component, deployment mode and end user.
Breakup by Device Type:
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Stationery Medical Devices
Internally Embedded Medical Devices
External Medical Devices and Consumer Wearable
Breakup by Component:
Solution
Identity and Access Management Solutions
Antivirus and Antimalware Solutions
Encryption Solutions
Data Loss Prevention Solutions
Risk and Compliance Management
Intrusion Detection Systems and Intrusion Prevention Systems
Disaster Recovery Solutions
Distributed Denial of Service Solutions
Others
Services
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by End User:
Healthcare Institutions
Medical Device Manufacturers
Others
Breakup by Region:
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Check Point Software Technologies Ltd., Cisco Systems Inc., ClearDATA, FireEye (Symphony Technology Group), Fortinet Inc., General Electric Company, International Business Machines Corporation, Koninklijke Philips N.V., McAfee Corp., Medigate, Palo Alto Networks Inc. and Synopsys Inc.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Device Type, Component, Deployment Mode, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Check Point Software Technologies Ltd., Cisco Systems Inc., ClearDATA, FireEye (Symphony Technology Group), Fortinet Inc., General Electric Company, International Business Machines Corporation, Koninklijke Philips N.V., McAfee Corp., Medigate, Palo Alto Networks Inc. and Synopsys Inc.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global medical device security market was valued at US$ 8.5 Billion in 2022.
We expect the global medical device security market to exhibit a CAGR of 15.1% during 2023-2028.
The rising integration of artificial intelligence and IoT solutions with medical devices, for protecting
healthcare data by identifying malicious activities with real-time dynamic threat intelligence, is
currently driving the global medical device security market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of medical device
security that enable the healthcare providers to remotely track patients and secure sensitive
information.
Based on the device type, the global medical device security market has been divided into stationery
medical devices, internally embedded medical devices, and external medical devices and consumer
wearable. Among these, stationary medical devices exhibit a clear dominance in the market.
Based on the component, the global medical device security market can be categorized into solution
and services, where solution currently holds the majority of the total market share.
Based on the deployment mode, the global medical device security market has been segmented into
on-premises and cloud-based. Currently, on-premises mode represents the largest market share.
Based on the end user, the global medical device security market can be bifurcated into healthcare
institutions, medical device manufacturers, and others. Among these, healthcare institutions
currently account for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global medical device security market include Check Point Software
Technologies Ltd., Cisco Systems Inc., ClearDATA, FireEye (Symphony Technology Group), Fortinet
Inc., General Electric Company, International Business Machines Corporation, Koninklijke Philips
N.V., McAfee Corp., Medigate, Palo Alto Networks Inc., and Synopsys Inc.
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