Medical Device Security Market Growing at a CAGR of 8.6% | Increasing Adoption of Byod and IoT

(IT-NEWSWIRE.COM, July 03, 2020 ) The Global Medical Device Security Market is projected to reach USD 6.59 Billion, at a CAGR of 8.6%

The growth of this market is attributed to factors such as increasing adoption of connected medical devices, improving healthcare infrastructure, increasing awareness about security of patient health information (PHI), and growing awareness about medical device security solutions due to the increasing number of cyber attacks in the healthcare organizations.

Research Methodology:

The study estimates the medical device security industry size for 2018 and projects its demand till 2023. In the primary research process, various sources from both demand side and supply side were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the supply side include various industry CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the various players in the market. Primary sources from the demand side include hospitals and clinics, medical device manufacturers, and healthcare payers. For the market estimation process, both top-down and bottom-up approaches were used to estimate and validate the market size of the market.

Browse 175 market data Tables and 48 Figures spread through 249 Pages and in-depth TOC - Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=70612561

Market Segmentation in Detailed:

Based on type, the medical device security market is broadly divided into application security, endpoint security, network security, cloud security, and other security types (email, web, and database security). The endpoint security segment is expected to dominate the market in 2018. The large share of this segment is attributed due to the increasing number of connected medical devices, networks are becoming more vulnerable to new and sophisticated threats such as zero-day malware, trojans, and APTs.

Based on device type, the market is segmented into 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.

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Geographic Analysis:

- Further breakdown of the Rest of Asia Pacific medical device security market in Russia, South Korea, Taiwan, Australia, New Zealand, and other countries

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America is expected to dominate the market followed by Europe. The market in North America is primarily driven by increasing instances of cyberattacks on medical devices, growing adoption of connected medical devices, increasing awareness among healthcare professionals regarding cybersecurity, and government initiatives to implement security solutions are driving the medical device security market in the region.

Maior Key Players Mapped in Research Report:

The prominent players in the global medical device security market include Cisco Systems (US), IBM Inc. (US), GE Healthcare (US), Symantec Inc.(US), CA Technologies (US), Philips (Netherlands), DXC Technology (US), CloudPassage (US), FireEye (US), Check Point Software Technologies (Israel), Sophos (UK), Imperva (US), Fortinet (US), Palo Alto Networks (US), ClearDATA (US), and Zscaler (US).

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Source: EmailWire.Com

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Medical Device Security Market Growing at a CAGR of 8.6% | Increasing Adoption of Byod and IoT