Security Market Trending in 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)

(EMAILWIRE.COM, April 16, 2019 ) The global medical device security market was valued at USD 4.04 Billion in 2017 and is projected to reach USD 6.59 Billion by 2023, at a CAGR of 8.6% during the forecast period. The base year considered for the study is 2017 and the forecast period is from 2018 to 2023.

In 2017, 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) were the other major players operating in this market.

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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

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.

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Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of this market is attributed to factors such as 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 cyberattacks in the healthcare organizations.