Medical Device Cybersecurity Solutions Market Research Report 2024-2033 | Size, Share, Growth, Growth Demand, Trends

"The new report published by The Business Research Company, titled Medical Device Cybersecurity Solutions Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the medical device cybersecurity solutions market size has grown exponentially in recent years. It will grow from $10.62 billion in 2023 to $13.29 billion in 2024 at a compound annual growth rate (CAGR) of 25.2%. The medical device cybersecurity solutions market size is expected to see exponential growth in the next few years. It will grow to $32.94 billion in 2028 at a compound annual growth rate (CAGR) of 25.5%.

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The Role Of Medical Device Cybersecurity Solutions In Mitigating Rising Cybersecurity Threats
The rising cybersecurity threats are expected to propel the growth of the medical device cybersecurity solutions market going forward. Cybersecurity threat refers to any malicious activity causing harm to data, unauthorized data access, or disruption of digital systems and operations. The rising cybersecurity threats are attributed to the growing complexity of cyberattacks, the proliferation of connected devices, the increasing value of healthcare data on the black market, and the evolving tactics of cybercriminals. Medical device cybersecurity solutions reduce cybersecurity threats by implementing access control, encryption, patch management, intrusion detection and prevention, endpoint security, secure configuration, and continuous monitoring measures. For instance, according to a report by the Identity Theft Resource Center, a US-based non-profit organization, the number of data compromises in 2023 was 3,205, an increase of 72% from 2021. Therefore, the rising cybersecurity threats are driving the growth of the medical device cybersecurity solutions market.

Advancements in AI-Based Medical Device Cybersecurity Solutions
Major companies operating in the medical device cybersecurity solutions market are focused on developing advanced solutions such as AI-based security solutions to enhance the protection of medical devices from cyber threats. AI-based security solutions for medical devices involve the application of artificial intelligence and machine learning technologies to improve the cybersecurity of medical devices. These solutions leverage AI's ability to detect patterns, predict potential threats, and respond to security incidents in real time. For instance, in December 2022, Palo Alto Networks, a US-based cybersecurity company, launched Medical IoT Security. Medical IoT Security offers automated device discovery, risk assessment, and zero trust policy recommendation and enforcement. It uses machine learning to quickly identify and profile 90% of devices within 48 hours of connection. It also seamlessly integrates with Palo Alto Networks' cloud services, such as advanced threat prevention and URL Filtering for the best threat protection.

The medical device cybersecurity solutions market covered in this report is segmented -

1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Types
2) By Solution: Identity And Access Management Solutions, Antivirus Or Antimalware Solutions, Encryption Solutions, Data Loss Prevention Solutions, Risk And Compliance Management, Intrusion Detection Systems Or Intrusion Prevention Systems, Disaster Recovery Solutions, Distributed Denial Of Service Solutions, Other Solutions
3) By Device Type: Hospital Medical Devices, Wearable And External Medical Devices, Internally Embedded Medical Devices
4) By End-User: Healthcare Providers, Medical Device Manufacturers, Healthcare Payers

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Major companies operating in the medical device cybersecurity solutions market are International Business Machines Corporation, Cisco Systems Inc., NTT DATA Corporation, Koninklijke Philips N.V., GE HealthCare, DXC Technology Company, Battelle Memorial Institute, Palo Alto Networks, Synopsys Inc., Fortinet Inc. , Trend Micro Incorporated, Zscaler Inc., Ivanti, Sophos Ltd. , Rapid7, Netskope, Imperva, FORESCOUT , Claroty, MCRA, ClearDATA, Fortified Health Security Inc., Meditology Services LLC, MedSec LLC, GreyCastle Security, Qualysec.com

Contents of the report:
1. Executive Summary
2. Medical Device Cybersecurity Solutions Market Report Structure
3. Medical Device Cybersecurity Solutions Market Trends And Strategies
4. Medical Device Cybersecurity Solutions Market - Macro Economic Scenario
5. Medical Device Cybersecurity Solutions Market Size And Growth
…..
27. Medical Device Cybersecurity Solutions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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