Medical Device Security Market is expected to propel US$ XX Bn by 2026 with a CAGR of XX% in the forecasting period 2018-2026. The medicinal gadgets are in general consistent with the checking and perceive ability across various system access leading to infringement, and vulnerabilities. The application of a managed detection and response arrangement enables to keep in track various medical devices. The market is favoured by growing adoption of wearable devices with more than US$ 800 million revenue in 2017 itself.
Factors such as rise in instances of healthcare cyber-attacks and threats, along with subsequent growth in chronic disease management are a few key factors that have boosted the overall market growth. Moreover, government regulations and compliance, rise in adoption of connected medical devices, and growing application of cyber-security solutions are a few other key driving factors boosting the medical device security market. However, it is the limitations in the healthcare security budgets along with the lack of infrastructure to manage even the basic security protections that forms the key restraints for the medical device security market.
The service segment is expected to hold the largest market share among other components for the medical device security market globally. Factors such as the support & maintenance services for protecting connected medical devices and protecting healthcare IT infrastructure from the growing number of cyber-attacks have acted as drivers for the growth of services segment.
Medical Device Security Market
The Medical Device Security market is segmented by component, security, device type, end-user, and region. By device type the market is segmented into hospital medical devices, wearable medical devices, and embedded medical devices. The wearable medical devices are expected to account for one of the fastest growth rate that is because of the huge penetration of internet within the healthcare sector as well as growing adoption of receiving the real-time health information for monitoring the patients’ health. Rise in adoption of connected medical devices have also been a major factor that is driving the overall market growth for medical device security.
By geography, the Medical Device Security market can be segmented into North America, Europe, Asia Pacific, Middle East, and Latin America. North America is expected to hold the largest market share chiefly driven by reasons that include increasing instances of cyber-attacks for getting confidential patient information, along with increasing awareness among healthcare professionals regarding cyber-security. Improvement in healthcare related government policies and improving healthcare infrastructure are also the chief drivers that have driven the market growth of medical device security market globally.
The key players of medical device security market include Symantec (US), Cisco Systems (US), CA Technologies (US), IBM (US), GE Healthcare (US), and Philips Healthcare (Netherlands).
Medical Device Security Market scope:-
Medical Device Security Market, By Component
Medical Device Security Market, By Security
Medical Device Security Market, By Device Type
• Hospital Medical Devices
• Wearable Medical Devices
• Embedded Medical Devices
Medical Device Security Market, By End-user
• Medical Device manufacturers
Medical Device Security Market, By Geography