What Fueled The Previous Growth In The Medical Device Security Market?
The medical device security market has seen considerable growth due to a variety of factors.
• The medical device security market has experienced strong growth in recent years. It is projected to increase from $6.81 billion in 2024 to $7.43 billion in 2025, at a CAGR of 9.0%.
Growth is due to rising cybersecurity threats, the proliferation of connected devices, high-profile security breaches, a shift toward value-based care, and increased interconnectivity in healthcare.
How Does the Forecast Look for the Medical Device Security Market?
The medical device security market is expected to maintain its strong growth trajectory in upcoming years.
• The medical device security market is projected to reach $10.35 billion by 2029 at a CAGR of 8.7%.
Growth is driven by the focus on supply chain security, the shift towards remote healthcare, rising healthcare investments, more connected medical devices, and the increased adoption of IoT in healthcare. Key trends include embedded security solutions, healthcare-cybersecurity collaborations, and AI and machine learning integration.
What Are The Leading Drivers Of Growth In The Medical Device Security Market?
The rising number of healthcare cyberattacks is expected to propel the medical device security market. Cyberattacks on healthcare systems are increasing as the complexity of cyber threats grows. These attacks target devices, data, and networks, making medical device security crucial for protecting healthcare information. In October 2023, the U.S. Department of Health and Human Services reported an average of two healthcare data breaches per day, highlighting the growing importance of securing medical devices.
How Are The Segments Defined Within The Global Medical Device Security Market?
The medical device security market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Security Type: Endpoint Security, Network Security, Application Security, Cloud Security, Other Security Types
3) By Deployment Mode: On-Premise, Cloud-Based
4) By End User: Healthcare Institutions, Medical Device Manufacturers, Other End Users
Subsegments:
1) By Solutions: Security Software (Antivirus, Firewalls, Encryption), Network Security Solutions ( Intrusion Detection Systems, Vpns), Authentication And Access Control Solutions ( Multi-Factor Authentication), Risk And Compliance Management Solutions, Endpoint Security Solutions ( Device Monitoring, Patch Management)
2) By Services: Managed Security Services, Security Consulting Services, Vulnerability Assessment And Penetration Testing Services, Incident Response And Forensic Services, Training And Awareness Services
Pre-Book The Medical Device Security Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are Emerging Trends Reshaping The Dynamics Of The Medical Device Security Market?
Leading firms in the medical device security market are concentrating on devising creative solutions like complete zero-trust security systems to revolutionize medical device security. Such solutions entail the authentication of every user and machinery attempting to access the network, independent of location or prior trust ranks, to lessen the chance of security infiltrations. For example, Palo Alto Networks, Inc., a cybersecurity firm based in the USA, rolled out Medical IoT Security in December 2022 - a full-scale zero-trust security solution to safeguard essential medical devices linked to patient care. This solution confronts the security issues brought about by the augmented use of digital devices in the healthcare field, like diagnostic and monitoring devices, ambulance tools, and surgical robots. It employs machine learning to aid healthcare institutions in designing device rules with automated security reactions, automating zero trust policy suggestions and implementation, and recognizing device vulnerabilities and risk stance.
Who Are the Key Players In The Medical Device Security Market?
Major companies operating in the medical device security market are:
• General Electric Company
• International Business Machines Corporation
• Cisco Systems Inc.
• Koninklijke Philips N.V.
• DXC Technology Company
• Palo Alto Networks
• Synopsys Inc.
• Fortinet Inc.
• Check Point Software Technologies Ltd.
• McAfee LLC
• Trend Micro Inc.
• Zscaler Inc.
• FireEye
• Sophos Ltd.
• Irdeto B.V.
• Imperva Inc.
• Armis Inc.
• Protegrity USA Inc.
• Silex Technology America Inc.
• ClearData
• Cynerio Ltd.
• Zingbox Inc.
• CloudPassage Inc.
• Cylera Inc.
• Bayshore Networks Inc.
What Is The Most Dominant Region In The Medical Device Security Market?
North America was the largest region in the medical device security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
