Prominent players in the global medical device security market include 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), and Zscaler (US)
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The global medical device security market is projected to reach USD 6.59 Billion by 2023 from 4.36 Billion in 2018, at a CAGR of 8.6%. Factors such as increasing instances of healthcare cyberattacks and threats, growth in geriatric population and subsequent growth in chronic disease management, government regulations and need for compliance, growing demand for connected medical devices.
- Technological Advancements
- Growing Machine-To-Machine and Machine-To-People Automation
- Food and Drug Administration (FDA)
- ISAO Standards Organization (ISAO SO)
- ISO Standards - ISO 27799:2008 & ISO/TR 27809: 2007
- Health Insurance Portability and Accountability Act (HIPAA)
- Health Information Technology for Economic and Clinical Health Act (HiTech)
- European Union Agency for Network and Information Security (ENISA)
- European Technical Standards Institute (ETSI)
Geographically, medical device security market is segmented into North America, Europe, Asia Pacific, the Rest of Latin America, and the Middle East & Africa.
In 2018, North America expected to account for largest share of market followed by Europe.
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Study estimates medical device security market size for 2018 and projects its demand till 2023. In the primary research process, various sources from both demand side and supply side were interviewed to obtain qualitative and quantitative information for the report.
Primary sources from supply side include various industry CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the various players in the medical device security market.
Target Audience for this Report
- Medical device security service providers
- Suppliers and distributors of medical device security solutions
- Independent software vendors (ISVs)
- Medical device manufacturers
- Healthcare providers (including hospitals and clinics)
- Healthcare institutions
- Healthcare payers
- Market research and consulting firms
- Venture capitalists and investors
Asia Pacific is expected to register the highest CAGR during the forecast period mainly due to the increasing adoption of connected medical devices, improving healthcare infrastructure, increasing awareness about security of patient health information (PHI), and growing awareness about medical device security solutions due to the increasing number of cyber attacks in the healthcare organizations.
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North America is expected to command medical device security market largest share of the market in 2018 primarily driven by increasing instances of cyberattacks on medical devices, growing adoption of connected medical devices, increasing awareness among healthcare professionals regarding cybersecurity, and government initiatives to implement security solutions are driving the medical device security market in the region. Asia Pacific is expected to grow at the highest CAGR during the forecast period.
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