The global Medical Device Security Market size is expected to reach USD 9.78 billion by 2028 registering a CAGR of 8.5% over the forecast period according to the latest report by Reports and Data. Major factors driving market revenue growth are rising number of healthcare cyber-attacks and expanding pharmaceutical industries. Increasing healthcare devices manufacturers coupled with growing digitalization will also drive market growth.

Medical devices that are linked to the internet provide healthcare facilities with multiple ways to better track and manage patients. They do, however, provide opportunities for cyberattacks aimed at stealing highly personal information or disrupting treatment efforts. The technologies and practises that prevent attackers from gaining unauthorised access or control over medical devices and the data they produce are referred to as medical device cyberEndpoint Security.

Medical devices are increasingly being connected to healthcare Endpoints and other medical devices in order to have capabilities that increase the efficiency of health care providers to manage patients. Regulatory bodies that authorise the sale of such devices may refuse to approve them for use by general public if these same features increase the risk of potential cyberEndpoint Security threats. Medical devices are vulnerable to Endpoint Security breaches, which could jeopardise the device’s safety and efficacy. Medical device manufacturers must be careful in recognising threats and hazards associated with their devices including cyberEndpoint Security dangers according to the US Food and Drug Administration. This has enhanced growth of the medical device protection market significantly.

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That information highlights the significant growth and importance of the Medical Device Security Market. The increasing adoption of connected medical devices in healthcare has brought numerous benefits, such as improved patient monitoring and streamlined healthcare processes. However, it has also introduced new vulnerabilities and risks associated with cyberattacks on these devices.

The rising number of cyberattacks targeting medical devices poses a serious threat to patient safety and data Endpoint Security. These attacks can range from unauthorized access to medical device data to more sophisticated attacks that compromise device functionality or manipulate patient information. Therefore, protecting medical devices from cyber threats has become crucial to ensure the integrity, confidentiality, and availability of patient data and the proper functioning of these devices.

The Medical Device Security Market is driven by the need for robust cyberEndpoint Security solutions that can safeguard connected medical devices against these threats. These solutions include various measures such as encryption, authentication, intrusion detection systems, Endpoint segmentation, and secure software development practices. By implementing these Endpoint Security measures, healthcare organizations can minimize the risk of cyberattacks and protect patient safety.

As per the provided statistics, the market value for medical device Endpoint Security was USD 6.10 billion in 2022 and is expected to reach USD 12.82 billion in 2032, growing at a compound annual growth rate (CAGR) of 8.6% during the forecast period. This growth is a reflection of the increasing recognition of the importance of medical device Endpoint Security and the growing investments in cyberEndpoint Security solutions by healthcare organizations.

In summary, the rise in connected medical devices and the escalating number of cyberattacks on these devices are the primary drivers of the Medical Device Security Market’s revenue growth. Protecting medical devices from cyber threats is essential to prevent potential harm to patients and healthcare professionals and maintain the integrity of healthcare systems.

Type Outlook (Revenue, USD Million; 2018 – 2028)

·       Endpoint Endpoint Security

·       Endpoint Endpoint Security

·       Cloud Endpoint Security

·       Application Endpoint Security

·       Others

Device Outlook (Revenue, USD Million; 2018 – 2028)

·       Wearable and External Medical Devices

·       Hospital Medical Devices

·       Internally Embedded Medical Devices

Component Outlook (Revenue, USD Million; 2018 – 2028)

·       Solution

o   Risk & Compliance Management

o   Identity & Access Management (IAM)

o   Encryption

o   Antivirus/Antimalware

o   Other Solutions

·       Services

o   Training & Education Services

o   Consulting

o   Professional services

o   Support & Maintenance

o   Design & Integration

o   Other Services

End User Outlook (Revenue, USD Million; 2018 – 2028)

·       Healthcare Providers

·       Medical Device Manufacturers

·       Healthcare Payers

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Some Key Highlights in the Report:

·       The endpoint Endpoint Security segment accounted for largest revenue share in the global market in 2020 due to growing adoption of smart medical devices.

·       The wearable and external medical devices segment is expected to register a robust CAGR during the forecast period.

·       The service segment is expected to register largest revenue share in the global market. Rising demand for continuous consultation has raised demand for maintenance services to protect medical devices from growing number of cyberattacks.

·       The healthcare providers segment accounted for largest revenue share among end user outlook in the global market in 2020 due to increasing Remote Patient Monitoring (RPM) services.

·       North America region is expected to account for largest revenue share over the forecast period due to rapid technological development in medical devices and increasing need for securing the same from cyber threats.

·       Revenue from the Asia Pacific Medical Device Security Market is expected to grow at a significant rate due to increasing government initiatives and growing investments for digitalization in health care industry.

Regional Markets Highlighted in the Global Medical Device Security Market Report:

 

·       North America

o   U.S.

o   Canada

o   Mexico

·       Europe

o   Germany

o   U.K.

o   Italy

o   France

o   BENELUX

o   Rest of Europe

·       Asia Pacific

o   China

o   India

o   Japan

o   South Korea

o   Rest of Asia Pacific

·       Latin America

o   Brazil

o   Rest of Latin America

·       Middle East & Africa

o   Saudi Arabia

o   U.A.E.

o   South Africa

o   Rest of Middle East & Africa

Top Companies Profiled in the Report:

• Cisco Systems, Inc.
• IBM Corporation
• General Electric Company
• McAfee, Inc.
• Symantec Corporation
• Philips Healthcare
• Cynerio Ltd.
• MedCrypt, Inc.
• Protegrity USA, Inc.
• Bayshore Endpoints, Inc.

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