Rise in the Adoption of Advanced Cloud Security Solutions for Medical Device Industry

Medical Device Security Market by Solution (Encryption, Antivirus, Identity & Acess Management), Services (Professional, Managed), Type (Network Security, Endpoint Security), Device Type, End User (Healthcare Provider) - Global Forecast to 2023


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, and increasing adoption of cybersecurity solutions are driving the growth of the market.

"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%."
Medical device security market broadly segments by component, type, device type, end user, and region. 

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Global Medical Device Security Market, by Component

  • Solutions
    • Identity & Access Management (IAM)
    • Antivirus/Antimalware
    • Risk & Compliance Management
    • Encryption
    • Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
    • Data Loss Prevention (DLP)
    • Disaster Recovery
    • Distributed Denial of Service (DDoS)
    • Other Solutions (Firewall, Patch Management, Unified Threat Management (UTM), SIEM, and Security & Vulnerability Management)
  • Services
    • Professional services
    • Consulting
    • Support & Maintenance
    • Design & Integration
    • Training and Education Services
    • Managed security services

Global Medical Device Security Market, by Type

  • Application Security
  • Endpoint Security
  • Network Security
  • Cloud Security
  • Other Security Types (Email, Web, and Database Security)

Global Medical Device Security Market, by Device Type

  • Hospital Medical Devices
  • Internally Embedded Medical Devices
  • Wearable and External Medical Devices

Global Medical Device Security Market, by End User

  • Healthcare Providers
  • Medical Device Manufacturers
  • Healthcare Payers

North America is expected to command the 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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