Medical Device Security Market Share, Industry Growth, Trend, Drivers, Challenges, Key Companies by 2027
Hospitals and clinics worldwide are extensively relying on connected medical devices, from heart monitors to MRI machines to communication badges, to improve patient outcomes. These connected medical devices assist the doctors, physicians, clinicians, and nurses in delivering quick and top-notch care to the patients. However, these devices also create an attack surface that healthcare organizations are unable to secure. To prevent the attacks and ensure patient data safety, the healthcare sector has been rapidly deploying endpoint security. The endpoint security alerts the healthcare setting’s IT security team, when a device has outdated information or weak security.
With an exponential rise in cyber-attacks each year, the security of medical devices has become a crucial aspect. The increasing potential of the software and services is bolstering the need for advanced connected medical equipment. The rapid adoption of connected devices in varied healthcare settings, the increasing use of digital health applications and devices in home care settings, and the increasing adoption of connected medical devices is expected to drive the growth of the market.
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The study anticipates demand for the medical device security sector through 2023 and assesses its size for 2018. During the main research phase, a variety of sources from the supply and demand sides were questioned in order to gather qualitative and quantitative data for the study. CEOs, vice presidents, marketing directors, technology and innovation directors, and other similar important executives from the many market participants are some primary sources on the supply side. Hospitals and clinics, producers of medical devices, and payers for healthcare services are the main sources on the demand side. Both top-down and bottom-up methodologies were utilised to estimate and validate the market’s size during the market estimation process.
Some Notable Developments in the Medical Device Security Market:
- GE Healthcare, in February 2020, launched a new cybersecurity solution that combines medical device expertise, artificial intelligence, and process management tools to combat cybersecurity threats in the hospital settings. The solution, Skeye, will enhance the existing resources and capabilities to help hospitals respond in real-time to the emerging cybersecurity threats.
- A cybersecurity firm, Check Point Software Technologies, in 2019, announced an innovative IoT cybersecurity solution that bolsters and protects firmware of IoT devices, ensuring their security against sophisticated cyber-attacks.
Some of the key players operating in the Medical Device Security Market are:
- Cisco Systems
- Check Point Software Technologies
- Palo Alto Networks
- Symantec Corporation
- CA Technologies
- GE Healthcare
Medical Device Security Market Segmentation
- Professional Managed
- Hospital Medical Devices
- Wearable & External Medical Devices
- Embedded Medical Devices
- Medical Device Manufacturers
- Healthcare Professionals (HCPs)
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Regional Analysis Covers:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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