Medical Device Security Market - Global Trends, Analysis, Covid19 Impact and Regional Forecast to 2023

Market Research Future (MRFR)’s report reveals that the global medical device security market is set to expand at a CAGR of 8.8% during the forecast period 2018 to 2023. The valuation of the global market is estimated to witness a growth of USD 221 Mn over the review period. The developments in the healthcare sector have catalyzed the deployment of medical facilities systems.

Market Synopsis:

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. 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.

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Market Segmentation:

The Global 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.

Regional Analysis:

Geographically, the global 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.

Companies Covered:

Some of the key players operating in the global medical device security market are Cisco Systems (US), IBM (US), GE Healthcare (US), Symantec (US), CA Technologies (US), Philips (Netherlands), DXC Technology (US), CloudPassage (US), FireEye (US), Check Point Software Technologies (Israel), Sophos (UK), Imperva (US), Fortinet (US), Palo Alto Networks (US), ClearDATA (US).

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