Medical Device Security Market Valuation Reach of USD 556.5 Mn till 2023 | Technology Growth Empowers the Healthcare Industry to expand at a noteworthy CAGR of 8.8%

Medical Device Security Market to Expand Noteworthy from 2017 to 2023: Market Research Future (MRFR) has published a report asserting that the global medical device security market is marked to expand at a noteworthy CAGR of 8.8% during the forecast period of 2017-2023 and reach the valuation of USD 556.5 Mn by the end of the forecast period from USD 335.5 Mn in the year 2017.

Market Scenario

The incidences of cyber-attacks and theft of personal data have increased significantly in past few years due to rapid adoption of technologically advanced medical devices that are connected through IoT in the healthcare sector of various developing and developed regions, leading to the emergence of robust security solutions.

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Rise in incidences of cybercrime and misuse of personal data is inducing high demand for advanced medical device security modules, leading to the significant expansion of the global medical device security market.

Key Players

The major players profiled by MRFR that are operating in the global medical device security market are Cisco Systems (the U.S.), IBM (the U.S.), GE Healthcare (the U.S.), Symantec (the U.S.), CA Technologies (the U.S.), Philips (Netherlands), DXC Technology (the U.S.), CloudPassage (the U.S.), FireEye (the U.S.), Check Point Software Technologies (Israel), Sophos (the U.K.), Imperva (the U.S.), Fortinet (the U.S.), Palo Alto Networks (the U.S.), and ClearDATA (the U.S.).

Segmentation

Medical Device Security Market has been segmented on the basis of component, type and end user. Based on component, the medical device security market has been segmented into solutions and services. The solutions segment has been sub-segmented into identity & access management solutions, antivirus/ antimalware solutions, encryption solutions, data loss prevention solutions, risk & compliance management, intrusion detection system/ intrusion prevention systems, disaster recovery solutions, distributed denial of service solutions and others. The services segment has been sub-segmented into professional services and managed security services. The professional services sub-segment includes consulting services, training & education, support & maintenance and design & integration. The solutions segment commands for the major share in the global medical device security market.

Based on type, the medical device security market has been segmented into network security, endpoint security, application security, cloud security and others. The endpoint security segment commands for the lion's share in the global medical device security market. Based on end user, the medical device security market has been segmented into healthcare providers, medical device manufacturers and healthcare players. the healthcare providers segment commands for a dominant share in the global medical device security market.

Regional Analysis

medical device security market has been segmented into four major regions such as Europe, Americas, Asia Pacific and the Middle East and Africa.

The Americas command for the major share in the global medical device security market owing to the presence of large number of players that are providing healthcare industry with advanced security solutions, rapid adoption of internet of things and higher threat of cyber-attacks in this region.

The Europe region is projecting noteworthy growth in the global medical device security market owing to the increased incidences of cybercrime, rise in utilization of advanced connected medical devices and increased research and development expenditure for introducing highly effective security solutions in the healthcare sector in this region.

The Asia Pacific region is projecting significant expansion at the fastest growth rate in the global medical device security market owing to the increasing usage of connected medical devices that are operating with the help of healthcare IoT and rise in concern regarding data security in the healthcare sector of developing economies in this region.

The Middle East and Africa region is expanding at a slow growth rate in the global medical device security market owing to the low penetration of advanced technology in the healthcare sector of the underdeveloped areas of this region.

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Research Methodology

MRFR leverages its in-house expertise for drawing insightful conclusions into the market. Extensive primary and secondary research are undertaken which include SEC filings, interviews with stakeholders across the value chain, whitepaper references, etc. for backing the research findings. Top-down and bottom-up approaches employed validate the authenticity of the statistical observations available in the report. Furthermore, a multi-layer verification process is applied for eliminating deviations and discrepancies.

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