Global Medical Device Security Market is Projected to Grow at a High CAGR of 8-10% by 2027


Global medical device security market is growing due to factors such as growing popularity of connected and wearable medical devices, the rise of cyber-attacks, the increasing geriatric population, and the consequent rise in chronic diseases.

Medical device security system safeguards medical devices and their related systems against unauthorized entry, alteration, theft, and harm. It aids in the implementation of protective measures to secure patient data and maintain the proper functioning of medical devices, ultimately ensuring patient well-being and preventing potential risks or negative incidents.

Growing Popularity of Connected Medical Devices in the Healthcare Sector is Poised to Drive the Global medical device security market

Advancements in Healthcare technology and the accessibility of innovative medical devices such as wearable devices and remote monitoring systems have led to Improvements of patient results and the efficiency of the healthcare system. As the number of medical equipment connected to networks or the internet grows, so does the potential of cyber-attacks and data breaches. As a result, it is critical for healthcare practitioners and manufacturers to assure the safety of medical devices while also prioritizing security measures for patient data security. 

For instance,

§    In April 2023, GE Healthcare launched ReadySee Asset Management & Network Supervision Solutions which automatically locates devices, self-manages cybersecurity protocols to help detect vulnerabilities, provide risk scoring and help protect sensitive patient health information (PHI) without interfering the patient care experience

 


   

Rise in Medical Device Security Market Growth Following Covid-19 Pandemic

The medical device security market growth is being boosted due to the increasing usage of connected devices in the healthcare sector. Post-pandemic there has been a rise in the adoption of telemedicine and remote monitoring solutions necessitate secure and dependable cybersecurity solutions to protect patient data. This has raised healthcare firms' awareness of cybersecurity solutions to reduce the danger of data breaches, boosting demand for the medical device security market. Additional factors driving its global market expansion include government measures to install cybersecurity solutions and rising investment in the healthcare-IT business. For instance,

§      In February 2023, Cisco launched its Cisco Cyber Vision through which IoT and IT operations teams will have complete visibility into IT and OT devices to avert threats across the organization and provide a unified security posture across the entire network. The other service introduced by Cisco is Secure Equipment Access Plus, which makes it easier for IT and OT teams to remotely deploy, manage, and troubleshoot connected equipment 

North America Expected to Maintain its Dominant Position in the Medical Device Security Market

From a Geographically Perspective, North America holds a Large market share of the medical device security market. This can be primarily attributed to the growing demand for connected medical devices, frequent cyber-attacks on medical devices, government initiatives for cybersecurity, and the presence of key players in the region.

However, the Asia-Pacific region is anticipated to witness steady and strong growth in the coming years as a result of rising adoption of connected medical devices, Growing cases of cyberattacks, and rising awareness about cybersecurity solutions among healthcare professionals to protect patient health information and prevent data breaches.

Competitive Landscape Analysis : Global Medical Device Security Market

Cisco Systems Inc., IBM, GE Healthcare, Philips Healthcare, Check Point Software Technologies, FireEye Inc., and Palo Alto Networks Inc. are among the prominent players in the market.

Aggressive Growth Strategies Adopted by Players to Establish Their Foothold in the Medical Device Security Market

Players operating in this market are adopting aggressive growth strategies such as releasing upgraded products with new technology, launching new products, collaborations, and acquisitions to gain larger market share. 

For instance,

  • In December 2022, Palo Alto Networks launched Medical IoT Security — the most comprehensive Zero Trust security solution for medical devices. It enables healthcare organizations to deploy and manage new connected technologies quickly and securely

Global medical device security market is projected to garner further traction in the coming years with growing adoption of connected devices, investments in the healthcare-IT sector, increasing product developments by key firms, and aggressive organic and inorganic growth strategies adopted by the players.

Get Detailed Insights on Global Medical Device Security Market with a Sample Report Copy/PDF @ https://meditechinsights.com/medical-device-security-market/

Comments

Post a Comment

Popular posts from this blog

The Transplantation Market Anticipated to Expand with 9-10% CAGR by 2029 as Need for Organ Transplants Rises

Image
  The market is propelled by various factors, including advancements in medical technology, the rising prevalence of chronic diseases that lead to organ failure, increasing awareness of transplantation as a viable treatment option, and evolving regulatory and reimbursement policies. In medical terms, transplantation refers to the surgical procedure of transferring cells, tissues, or organs from a donor to a recipient to replace malfunctioning or damaged body parts. Its primary goal is to restore normal function or improve the quality of life for the recipient. Transplantation is often used to treat end-stage organ failure, severe injuries, certain cancers, and congenital defects that are not manageable through other medical treatments. This specialized field requires careful matching of donors and recipients, advanced surgical techniques, and comprehensive post-transplant care to ensure success. Types of transplantation include: Kidney Transplantation: Involves replacing a fail...
Read more

Global 3D Cell Culture Market Seeks Prosperous Horizon: Double-Digit Growth Expected by 2027

Image
  The need for organ transplants and tissue engineering combined with developments in scaffold-free technology, a rise in investments and research and development (R&D) funding for cell-based studies, growing efforts to develop potential alternatives to animal-based testing, and the rising incidence of chronic diseases are some of the major factors propelling the growth of the global 3D cell culture market. 3D cell culture   is an important approach in cell biology and tissue engineering because it includes cultivating and analyzing cells in a three-dimensional environment that mimics the circumstances present in the human body. It has several advantages, such as the capacity to recreate in vivo settings, allow the creation of complex multicellular structures, and give realistic drug testing situations. Scaffold-based technologies employing materials such as hydrogels are employed for 3D cell culturing. Its uses include cancer research, tissue engineering, and medication d...
Read more

Global Tricuspid Valve Repair Market Driven by Innovation: Set to Surge with a US$2.5 Billion Market by 2028

Image
  Increasing geriatric population, growing preference for minimally invasive procedures like annuloplasty and transcatheter tricuspid valve repair (TTVR), increased clinical research and trials activities for developing new tricuspid valve repair technologies, and rising incidence of tricuspid valve disorders are some of the key factors driving the global tricuspid valve repair market. • Medical technology advancements in the field of cardiac interventions. • Improved awareness of heart valve disorders. One of the four valves in our heart that regulates blood flow is the tricuspid valve . It is located between the ventricle and the atrium, the upper and lower chambers of our heart, on the right side. It guarantees that blood travels from the right atrium to the right ventricle in the proper path. As blood passes through the tricuspid valve, its three leaflets, or flaps, open and close. Tricuspid valve illnesses are disorders that some people have that impair the tricuspid valve's a...
Read more