Medical Device Security Market Worth 6.59 Billion USD by 2023

Friday, May 25, 2018 Medical Gadgets
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PUNE, India, May 25, 2018 /PRNewswire/ --

According to a new market research report "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", published
by MarketsandMarkets™, the report studies the global Medical Device Security Market from the forecast period of 2018 to 2023. The 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, growing geriatric population and the subsequent growth in chronic disease management, government regulations and need for compliance, growing demand for connected medical devices, and increasing adoption of BYOD and IoT are driving the growth of the Medical Device Security Market.

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Browse 175 market data Tables and 48 Figures spread through 249 Pages and in-depth TOC on "Medical Device Security Market" 

https://www.marketsandmarkets.com/Market-Reports/medical-device-security-market-70612561.html

Early buyers will receive 10% customization on this report 

Based on type, the endpoint security segment is estimated to have the largest share of the market in 2018. 

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. Additionally, the trend of bring your own device (BYOD), social media usage, and cloud synchronizing tools are also driving the demand for endpoint security.

Based on device type, wearable and external medical devices are expected to witness the highest growth during the forecast period. 

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. These factors are increasing the demand and uptake of wearable and external medical devices for remote patient monitoring.

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Based on end user, the healthcare providers segment is estimated to have largest share of the market in 2018. 

Based on end user, the Medical Device Security Market is segmented into healthcare providers, medical device manufacturers, and healthcare payers. The healthcare providers segment is expected to account for the largest share of the Medical Device Security Market in 2018. The large share 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.

North America is expected to dominate the Medical Device Security Market in 2018. 

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.

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).

Know more about the Medical Device Security Market: 

https://www.marketsandmarkets.com/Market-Reports/medical-device-security-market-70612561.html

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact: Mr. Salgarkar MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com

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SOURCE MarketsandMarkets



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