Medical Device Security Market Report: Trends, Forecast and Competitive Analysis to 2030

Medical Device Security Trends and Forecast

The future of the global medical device security market looks promising with opportunities in the healthcare providers, medical device manufacturers, and healthcare payers markets. The global medical device security market is expected to reach an estimated $10.8 billion by 2030 with a CAGR of 8.5% from 2024 to 2030. The major drivers for this market are quick improvements and breakthroughs in medical technology, increasing popularity of wearable and networked medical equipment, and rising adoption of cloud-based medical device security.

A more than 150-page report is developed to help in your business decisions.

Medical Device Security by Segment

The study includes a forecast for the global medical device security by device type, end use industry, type, component, and region.

Medical Device Security Market by Device Type [Shipment Analysis by Value from 2018 to 2030]:

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

Medical Device Security Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Healthcare Providers
• Medical Device Manufacturers
• Healthcare Payers

Medical Device Security Market by Type [Shipment Analysis by Value from 2018 to 2030]:

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

Medical Device Security Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Solutions
• Services

Medical Device Security Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Medical Device Security Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies medical device security companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medical device security companies profiled in this report include-

• Cisco Systems
• IBM
• GE Healthcare
• Philips Healthcare
• Check Point Software Technologies
• FireEye
• Palo Alto Networks

Medical Device Security Market Insights

Lucintel forecasts that wearable and outdoor medical devices is expected to witness the highest growth over the forecast period because of growth in the need for home healthcare due to the prevalence of chronic illnesses, which is on the rise, and the increasing need to reduce healthcare costs.

North America is expected to witness highest growth over the forecast period due to rise in the number of cyberattacks on medical devices, the use of linked medical devices, healthcare personnel' growing knowledge of cybersecurity, and government efforts to put security measures in place.

Features of the Global Medical Device Security Market

Market Size Estimates: Medical device security market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Medical device security market size by various segments, such as by device type, end use industry, type, component, and region in terms of value ($B).

Regional Analysis: Medical device security market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different device type, end use industry, type, component, and regions for the medical device security market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the medical device security market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the medical device security market size?

Answer: The global medical device security market is expected to reach an estimated $10.8 billion by 2030.

Q2. What is the growth forecast for medical device security market?

Answer: The global medical device security market is expected to grow with a CAGR of 8.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the medical device security market?

Answer: The major drivers for this market are quick improvements and breakthroughs in medical technology, increasing popularity of wearable and networked medical equipment and rising adoption of cloud-based medical device security.

Q4. What are the major segments for medical device security market?

Answer: The future of the medical device security market looks promising with opportunities in the healthcare providers, medical device manufacturers, and healthcare payers markets.

Q5. Who are the key medical device security market companies?

Answer: Some of the key medical device security companies are as follows:

• Cisco Systems
• IBM
• GE Healthcare
• Philips Healthcare
• Check Point Software Technologies
• FireEye
• Palo Alto Networks

Q6. Which medical device security market segment will be the largest in future?

Answer: Lucintel forecasts that wearable and outdoor medical devices is expected to witness the highest growth over the forecast period because of growth in the need for home healthcare due to the prevalence of chronic illnesses, which is on the rise, and the increasing need to reduce healthcare costs.

Q7. In medical device security market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to rise in the number of cyberattacks on medical devices, the use of linked medical devices, healthcare personnel' growing knowledge of cybersecurity, and government efforts to put security measures in place.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the medical device security market by device type (hospital medical devices, internally embedded medical devices, and wearable and external medical devices), end use industry (healthcare providers, medical device manufacturers, and healthcare payers), type (application security, endpoint security, network security, cloud security, and others), component (solutions and services), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?