Healthcare IoT Security Market Boosted by Growth in Wearables and Real-Time Patient Monitoring Technologies

The global healthcare IoT security market is estimated to reach over USD 2.6 Bn by the year 2034, exhibiting a CAGR of 17.4% during the forecast period.

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The COVID-19 pandemic has markedly accelerated the adoption of advanced digital technologies in the healthcare sector, catalyzing a fundamental shift in care delivery models. Within this landscape, Internet of Things (IoT) devices have become essential tools for improving patient outcomes and operational efficiency. These connected technologies enable enhanced data accessibility and rapid information exchange; however, their widespread deployment also introduces significant cybersecurity risks.

Many healthcare IoT devices were not originally designed with comprehensive security features, underscoring the growing need for specialized IoT security solutions tailored to clinical environments. By supporting continuous monitoring and real-time analysis of patient data-capabilities that were previously limited-IoT devices empower clinicians to make faster, evidence-based decisions and elevate overall care quality. Additionally, the sustained global influence of the pandemic has further accelerated the adoption of telemedicine and remote care solutions, reinforcing the critical importance of secure, reliable, and interconnected healthcare systems.

List of Prominent Players in the Healthcare IoT Security Market:
• Cisco Systems, Inc.
• Inside Secure SA
• Dell Corporation
• Intel Corporation
• ATMEL Corporation
• Symantec Corporation
• EUROTECH SPA
• Fortinet, Inc.
• Oracle Corporation
• Deutsche Telekom AG

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Market Dynamics
Market Drivers:
The global healthcare IoT security market is experiencing significant growth, driven by the increasing demand for real-time access to and management of patient data. The adoption of digital healthcare platforms for appointment scheduling, teleconsultations, and streamlined patient-provider communication has enhanced operational efficiency and reduced service delays.

With heightened emphasis on patient privacy and regulatory compliance, adherence to standards such as the Health Insurance Portability and Accountability Act (HIPAA) remains critical. Additionally, the proliferation of smartphones and wearable health-monitoring devices-capable of tracking vital parameters such as blood pressure, glucose levels, insulin, oxygen saturation, and heart rate-has intensified the need for robust cybersecurity solutions to prevent data breaches and mitigate cyber threats.

Challenges:
Despite promising growth, the healthcare IoT security sector faces several challenges. Key vulnerabilities include weak password protocols, insufficient authentication mechanisms, data loss due to unstable network connections, and escalating cyberattack incidents. The exponential rise in patient data, coupled with a growing global population, has rendered traditional on-premise storage solutions less viable. Consequently, healthcare organizations are increasingly transitioning to cloud-based platforms to improve data accessibility and interoperability. However, this shift introduces additional security concerns, particularly when IoT devices operate over unsecured networks or lack adequate firewall protections, leaving sensitive data susceptible to unauthorized access.

Regional Trends:
North America is projected to maintain a dominant position in the healthcare IoT security market throughout the forecast period. This leadership is supported by the presence of key industry players offering advanced IoT security solutions and robust regulatory frameworks. Initiatives such as the Internet of Things Cybersecurity Improvement Act, introduced by the U.S. National Institute of Standards and Technology (NIST) in 2020, have strengthened cybersecurity standards for connected devices. Ongoing government support, coupled with strategic investments from leading IoT security firms, continues to drive innovation and adoption across the healthcare sector.

The Asia-Pacific region, however, is expected to register the fastest growth in the market. Factors contributing to this acceleration include advancements in healthcare IT infrastructure, increasing deployment of connected healthcare services, and the widespread use of smart wearable devices. Moreover, growing investments by pharmaceutical companies and medical device manufacturers are facilitating broader IoT integration, creating a heightened demand for effective cybersecurity measures to protect sensitive health information.

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Recent Developments:
• In February 2022, Forescout Technologies, the industry leader in Active Defense for the Enterprise of Things, announced today the acquisition of CyberMDX, a premier healthcare cybersecurity solution that provides visibility and attack avoidance for medical devices and clinical networks. Forescout's position as the market leader in out-of-the-box support for the largest collection of connected device types across IT, IoT, OT, and IoMT devices is further strengthened by the purchase.
• In January 2022, Claroty, a cybersecurity firm for cyber-physical systems (CPS) in industrial, healthcare, and enterprise environments, announced today the completion of its purchase of Medigate, a leading healthcare IoT security company. Claroty is now ideally positioned to safeguard the Extended Internet of Things (XIoT) by providing unparalleled visibility, security, and threat detection for all linked enterprises through a single comprehensive solution.

Segmentation of Healthcare IoT Security Market-
By Solution
• Endpoint Security
• Content Security
• Application Security
• Cloud Security
By Services
• Consulting Services
• Risk Assessment Services
• Design and Integration Services
• Managed Security Services
• Others (E-mail Security, Training and Education, among Others)
By Region-
• North America-
o US
o Canada
o Mexico
• Europe-
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
• Asia-Pacific-
o China
o Japan
o India
o South Korea
o South East Asia
o Rest of Asia Pacific
• Latin America-
o Brazil
o Argentina
o Rest of Latin America
• Middle East & Africa-
o GCC Countries
o South Africa
o Rest of the Middle East and Africa

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This release was published on openPR.