Medical Device Security Market 2028 Receives a Rapid Boost in Economy due to High Emerging Demands

Rapid entry of newer interconnected devices in the world of medicine and healthcare primarily fuels demand for adequate security measures of medical devices. Deepening technology penetration in the process of healthcare delivery also brings with it a host of cybersecurity threats, which continues to demand a robust security system for ensuring the safety, security, and confidentiality of patient critical, and sensitive patient information. A strong security measure also assures protection of medical devices against the remote controlling ability of cyber hackers. A new upcoming study of Fairfield Market Research would discuss the growth forecast of global medical device security market. It has been recently reported that hackers have gone smarter now and can even break into anaesthesia workstations to further hold control over the machines. This and more such discoveries suggest that the importance of medical device security will grow stronger in the near future.

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Mounting Sales of Personal Medical Devices Highlights Need for Stronger Security Measures

While personal medical devices have been at the forefront of cybersecurity vulnerabilities, the number of attacks on such devices recorded in 2018 was around 18,000. A majority of such attacks remain un/misreported but the risk continues to grow with exploding sales of personal devices like pacemakers, insulin pumps, and glucometers. It has thus become of paramount importance to prioritise device security from conception to production. On the other hand, lack of this eventually tend to find an alternative in the black market, which provides cyber attackers with even more choices for planning next attacks. Increasing significance of device security is thus likely to widen the scope of penetration for medical device security vendors in market.

Medical Device Security Market Competition

The report would provide an insightful view of the leading vendors actively competing with their security solutions for medical devices. International Business Machines Corporation (IBM Corp), Sophos LTD., MCAFEE, LLC, Check Point Software Technologies Ltd., Cisco Systems, Inc., Palo Alto Networks, General Electric Company, DXC Technology Company, Cleardata, and Cloudpassage include some of the most prominent players driving competition in global medical device security market space.

Growing Inclination Toward Proactive Security to Favour Market Growth

Even Philips Electronics North America Corp., GE Healthcare, Smiths Medical ASD, and Roche Diagnostics Corporation have been lately facing challenges due to the security flaws spotted in some of their medical equipment. With newer potential cybersecurity vulnerabilities continue to challenge medical device manufacturers with FDA’s frequent product recalls, it also points to an opportunity to tighten the security screws. A rapid shift of manufacturers toward proactive security solutions is thus expected to favour the growth of medical device security market participants in the region.

Blockchain technology is being increasingly looked at as a potentially beneficial one to provide healthcare providers, and patients with granular access control over each medical device transaction. With more device manufacturing brands understanding the significance of security, and becoming more aware of the technological advancements, medical devices industry is likely to witness soaring investments in security. The growth of medical device security will thus be on an uptrend.

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North America Dominant, Expanse of Connected Technology Instrumental in Market Build-up

North America has been housing the largest market for medical device security and the trend will continue. While a robust market of connected technology-enabled devices remains the prime factor demanding security, it becomes imperative for medical device companies to ensure security of their products that serve to offer healthcare providers the access to real-time data. Led by the US that captures more than 70% share in total market value, North America’s medical device security market will retain its dominance.

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