Global $6.59 Bn Medical Device Security Market 2018-2023 - Driven by Increasing Instances of Healthcare Cyberattacks and Threats

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Jun 27, 2018, 01:00 ET

DUBLIN, June 27, 2018 /PRNewswire/ --

The "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" report has been added to ResearchAndMarkets.com's offering.

The 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%.

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 medical device security market.

On the basis of component, the market is broadly divided into solutions and services.

The services segment is expected to dominate the market in 2018. The large share of this segment is primarily attributed to the growing demand for continuous consultation, support & maintenance services to protect connected medical devices and healthcare IT infrastructure from the growing number of cyberattacks.
The solutions segment is further categorized into identity & access management, antivirus/antimalware, compliance management, encryption, intrusion detection system/intrusion prevention system, data loss prevention, disaster recovery, distributed denial of service and other solutions. The encryption solutions segment is projected to grow at the highest rate during the forecast period, owing to factors such as growing demand for advanced encryption-based services which are integrated with other security solutions to deliver enhanced data protection at a lower cost and these solutions secure user data on-premise as well as in the cloud.

On the basis of type, the endpoint security segment is expected to dominate the market in 2018. The large share of this segment is attributed to factors such as increasing number of connected medical devices, networks are becoming more vulnerable to new and sophisticated threats such as zero-day malware, trojans, and APTs. Additionally, the trend of BYOD, social media usage, and cloud-synchronizing tools are also driving the demand for endpoint security.

Based on device type, the market is segmented hospital medical devices, internally embedded medical devices, and wearable and external medical devices. The wearable and external medical devices segment is expected to register the highest CAGR during the forecast period. This growth is attributed to the demand for home healthcare owing to the high and rising prevalence of chronic diseases and the growing need to reduce healthcare costs. These factors are increasing the demand and uptake of wearable and external medical devices for remote patient monitoring.

The healthcare providers segment is expected to account for the largest share of the medical device security market in 2018. The growth of this segment is attributed to the high demand for connected networked medical devices among healthcare providers owing to the various benefits offered by these devices.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Market Share Estimation
2.5 Assumptions for the Study

3 Executive Summary

4 Premium Insights
4.1 Medical Device Security: Market Overview
4.2 Asia Pacific: Medical Device Security Market, By Type
4.3 Geographic Snapshot of the Medical Device Security Market
4.4 Geographic Mix: Medical Device Security Market
4.5 Medical Device Security Market: Developing vs Developed Markets

5 Market Overview
5.1 Introduction
5.2 Market Dynamics

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.3 Regulatory Implications

7 Medical Device Security Market, By Component
7.1 Introduction
7.2 Solutions
7.3 Services

8 Medical Device Security Market, By Type
8.1 Introduction
8.2 Network Security
8.3 Endpoint Security
8.4 Application Security
8.5 Cloud Security
8.6 Other Security Types

9 Medical Device Security Market, By Device Type
9.1 Introduction
9.2 Hospital Medical Devices
9.3 Wearable and External Medical Devices
9.4 Internally Embedded Medical Devices

10 Medical Device Security Market, By End User
10.1 Introduction
10.2 Healthcare Providers
10.3 Medical Device Manufacturers
10.4 Healthcare Payers

11 Medical Device Security Market, By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Latin America
11.6 Middle East & Africa

12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis
12.3 Competitive Situation and Trends

13 Company Profiles
13.1 Cisco Systems
13.2 Symantec Corporation
13.3 International Business Machines Corporation (IBM)
13.4 GE Healthcare
13.5 Koninklijke Philips N.V.
13.6 CA Technologies
13.7 Mcafee
13.8 Check Point Software Technologies
13.9 Cloudpassage
13.10 Palo Alto Networks
13.11 Cleardata
13.12 DXC Technology
13.13 Sophos
13.14 Imperva
13.15 Fortinet
13.16 Zscaler
13.17 Fireeye

For more information about this report visit https://www.researchandmarkets.com/research/xqvp69/global_6_59_bn?w=5

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