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Global Connected Medical Devices Security Market Revenue Estimated Around USD 9.5 Billion by 2026

14-Jan-2020 | Facts and Factors

Facts and Factors Market Research has published a new report titled “Connected Medical Devices Security Market By Component (Solutions & Services) By Type (Application Security, Endpoint Security, Network Security, Cloud Security, & Others), By Device Type (Hospital Medical Devices, Internally Embedded Medical Devices, & Wearable & External Medical Devices), By End-Users (Healthcare Providers, Medical Device Manufacturers, & Healthcare Payers), And By Regions ¬ Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. According to the report, the global Connected Medical Devices Security market is predicted to be valued at approximately USD 6.3 Billion in 2020 and is expected to reach a value of around USD 9.5 Billion by 2026, at a CAGR of around 8.6% between 2021 and 2026.

The connected medical device provides compliance prominence for network-connected medical equipment and real-time functional intelligence via automated equipment discovery, cataloging, and documentation. Moreover, the connected medical devices security tool offers a complete insight into the security position and a positive stance toward identification and remediation issues. Apparently, the tool provides device awareness, networking awareness, and know-how pertaining to potential threats.

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Browse the full “Connected Medical Devices Security Market By Component (Solutions & Services) By Type (Application Security, Endpoint Security, Network Security, Cloud Security, & Others), By Device Type (Hospital Medical Devices, Internally Embedded Medical Devices, & Wearable & External Medical Devices), By End-Users (Healthcare Providers, Medical Device Manufacturers, & Healthcare Payers), And By Regions ¬ Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/connected-medical-devices-security-market-by-technology-wired-217

Furthermore, IoT-enabled medical equipment is revolutionizing the patient care process. Today, medical device firms and healthcare service providers are facing cyber-security issues including legal, monetary, patient safety, and operational threats. The malware attacks are on rising and becoming more complex, while breaches of data privacy are becoming common across all sectors. The growing risk and data security concerns have generated the need for connected medical device security systems at the global level.

Growing vulnerability to data thefts will drive the market growth over the forecast period

An increase in the number of cases of data theft is expected to steer the surge in the market growth during the forecast period. Moreover, the growing acceptance of connected equipment by the customers will favorably leverage the growth of the connected medical devices security industry during the forecast timeline.

Furthermore, IoT technology is finding lucrative applications in various clinics, hospitals, and healthcare units. Moreover, the introduction of innovative healthcare technologies including telemedicine and telehealth services has resulted in the massive acceptance of connected medical equipment across the globe. All the aforementioned factors are anticipated to drive the market growth over the forecast period. Nevertheless, a lack of knowledge about data security & access control is anticipated to hinder business growth during the forecast period. However, enforcement of strict government laws in countries like the U.S. to put brakes on data thefts or data violations will create ample growth opportunities for the market over the forecast period.

Interface devises segment  to dominate the category landscape  over the forecast period in terms of revenue

The growth of interface devices segment during the period from 2019 to 2025 is credited to the ability of the medical equipment to collate the data of the patient automatically and combine it with the data of the same patients acquired from other medical equipment. Later, the interface sends the data to the electronic medical record system for diagnosing & treating the medical data. All these beneficial features are likely to steer the segmental growth over the forecast period.

Wireless technology to register highest CAGR over the forecast period

The wireless technology segment is predicted to record the highest growth rate of more than 36% during the period from 2019 to 2025. The segmental growth is attributed to the rising in acceptance of wireless technologies like WI-FI, Bluetooth, and Zig Bee as a result of its beneficial characteristics such as portability of medical equipment & cost efficiency.

North America to contribute majorly towards the overall market revenue share by 2025

The regional market growth during the forecast timeline is owing to the huge presence of clinics, labs, pharma firms, and hospitals in the countries like the U.S. Apart from this, huge funding of research activities in the IoT sector by the U.S. government is likely to drive the revenue growth of the market in the region.

Top Market Players

The key market participants for the global connected medical device security market are Cisco Systems, IBM, GE Healthcare, Symantec, CA Technologies, Philips, DXC Technology, CloudPassage, FireEye, Check Point Software Technologies, Sophos, Imperva, Fortinet, Palo Alto Networks, ClearDATA, Zscaler, and McAfee LLC, among others.

This report segments the Connected Medical Devices Security market as follows:

Global Connected Medical Devices Security Market: By Component Segment Analysis

  • Solutions
    • Identity & Access Management (IAM)
    • Risk & Compliance Management
    • Encryption
    • Data Loss Prevention (DLP)
    • Disaster Recovery
    • Distributed Denial of Services
  • Services
    • Professional Service
    • Managed Security Services
    • Consulting
    • Support & Maintenance

Global Connected Medical Devices Security Market: By TypeSegment Analysis

  • Application Security
  • Endpoint Security
  • Network Security
  • Cloud Security
  • Others

Global Connected Medical Devices Security Market: By Device Type Segment Analysis

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

Global Connected Medical Devices Security Market: By End-UserSegment Analysis

  • Healthcare Providers
  • Medical Device Manufacturers
  • Healthcare Payers

Connected Medical Devices Security Market: By Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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