Medical Device Security Market Technology Growth and Development 2021 to 2024

The Global Medical Device Security Market Research Report 2021-2024 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.

The Global Medical Device Security Market is expected to register a CAGR of nearly 8.3% during 2018-2023 (the forecast period).

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Top Companies in the Global Medical Device Security Market: CA TECHNOLOGIES, CHECK POINT SOFTWARE TECHNOLOGIES, CHECK POINT SOFTWARE TECHNOLOGIES, CISCO SYSTEMS, DXC TECHNOLOGY, FIREEYE, GE HEALTHCARE, IBM, KONINKLIJKE PHILIPS N.V., MCAFEE , and SYMANTEC CORPORATION and Other

Increasing Instances Of Healthcare Cyberattacks and Threats

There is an increase in cyber attacks on the healthcare facilities systems and their medical devices and theft of personal data that are critical to hospitals and patient privacy. This has led to implementation of strict government guidelines by FDA and National Institute for Standards and Technology (NIST). For medical devices (MRI scanners, surgery robots, X-ray machines, dental devices) endpoints are Internet-enabled with IP network. In the healthcare endpoints are prone to security threat by hackers. Endpoint security has become increasingly important for data protection and protection of systems from unauthorized manipulation and preventing use of malicious softwares. Medical devices with configurable embedded computer systems are more vulnerable to cyber security threats. With rise in use of medical devices across healthcare organizations, the device manufacturers and hospitals have become more vigilant in improving their network security. Medical devices in hospital room in an intensive care units are integrated to a cloud bases infrastructure for online sharing of encrypted healthcare data. Thus arising the need for providing security for medical devices, which is further contributing to the growth of medical device security market. Other factors which are driving the medical device security market growth are increasing demand for connected medical devices and government regulations along with need for compliance.

Limited Healthcare Security Budgets

Security threats in healthcare are increasing continuously, this pose a risk to patient safety. Despite increase in data breaches the healthcare industry still allots a limited security budget to defend against the hackers. Security budgets in healthcare lag behind other industries. Most healthcare facilities are reluctant to invest as they have thin revenue margins and the investment in cybersecurity improvement does not generate revenue. They also has to invest on expensive equipment for the facility. The most purchased cybersecurity solutions are to comply with the regulatory guidelines and most organizations fail to evaluate their investments in security. Digital devices in hospitals are not upgraded and usually run on old operating systems which are less secure. Hospitals fail to allot budgets for upgrading the devices as it is costly and if upgraded that will trigger FDA certification. Therefore, limited healthcare security budgets is acting as a major factor responsible to hinder the growth of medical device security market.

The US Lead the Market in North America Region

In United States there is a rise in adoption of wired and wireless networked medical devices because they have important role in individuals health outcomes. Because they collect vast clinical data these medical device systems are prone to security risk. In 2018, FDA released a safety action plan outlining proposals for improvement of cyber security in medical devices. These government initiatives to lessen the data breaches by increasing the security of medical devices is a major factor responsible to contribute for the growth of medical device security market in US.

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The market factors explained in the report:

Market Overview: It includes Medical Device Security Market study scope, top key players, segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.

Executive Summary: The Medical Device Security Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Regional Study: All of the regions and countries analyzed in the Medical Device Security Market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.

Key Players: This part of the Medical Device Security Market report discusses expansion plans of companies, key mergers and acquisitions, funding and investment analysis, company establishment dates, revenues of manufacturers, and their areas served and manufacturing bases.

Market Forecast: Here, the report offers a complete forecast of the global Medical Device Security Market by product, application, and region. It also offers global sales and revenue forecasts for all years of the forecast period.

Reasons to Purchase This Report

 Market analysis of the Medical Device Security market, with region-specific assessments and competition analysis, on global and regional scales
 Analyzing various perspectives of the industry with the help of Porters five forces analysis
 The treatment type that is expected to dominate the market
 Regions that are expected to witness the fastest growth during the forecast period
 Identify the latest developments, market shares, and strategies employed by the major market players
 3 months analyst support along with the Market Estimate sheet (in excel)

Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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This release was published on openPR.