Medical Device Security Market is Projected to Rise at a Modest CAGR of 8.3% by 2023 According to Business Outlook, Top Companies, Key Regions, Product Demand, Analytical Research Report
Global “Medical Device Security Market 2020-2023” has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global Medical Device Security market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The Report specifies the complete estimate of Global Medical Device Security market business terms, in addition to presenting a brief segmentation of the industry, the expansion opportunities, as well as Key region.
Top-Listed Players in Medical Device Security Market Research Report 2020-2023
- CA Technologies
- Check Point Software Technologies
- Check Point Software Technologies
- Cisco Systems
- DXC Technology
- Fireeye
- GE Healthcare
- IBM
- Koninklijke Philips N.V.
- Mcafee
- and Symantec Corporation among others.
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Overview of Medical Device Security Market:
The Global Medical Device Security Market is expected to register a CAGR of nearly 8.3% during 2020-2023 (the forecast period). Medical Devices are vulnerable to security threats and are protected with use of industry standard guidelines. Medical device manufacturers mitigate risks use software solutions, and encrypt data for secure data transfer and data loss.Increasing Instances Of Healthcare Cyberattacks and ThreatsThere is an increase in cyber attacks on the healthcare facilities systems and their medical devices and theft of personal data that are critical to hospitals and patient privacy. This has led to implementation of strict government guidelines by FDA and National Institute for Standards and Technology (NIST). For medical devices (MRI scanners, surgery robots, X-ray machines, dental devices) endpoints are Internet-enabled with IP network. In the healthcare endpoints are prone to security threat by hackers. Endpoint security has become increasingly important for data protection and protection of systems from unauthorized manipulation and preventing use of malicious softwares. Medical devices with configurable embedded computer systems are more vulnerable to cyber security threats. With rise in use of medical devices across healthcare organizations, the device manufacturers and hospitals have become more vigilant in improving their network security. Medical devices in hospital room in an intensive care units are integrated to a cloud bases infrastructure for online sharing of encrypted healthcare data. Thus arising the need for providing security for medical devices, which is further contributing to the growth of medical device security market. Other factors which are driving the medical device security market growth are increasing demand for connected medical devices and government regulations along with need for compliance.Limited Healthcare Security BudgetsSecurity threats in healthcare are increasing continuously, this pose a risk to patient safety. Despite increase in data breaches the healthcare industry still allots a limited security budget to defend against the hackers. Security budgets in healthcare lag behind other industries. Most healthcare facilities are reluctant to invest as they have thin revenue margins and the investment in cybersecurity improvement does not generate revenue. They also has to invest on expensive equipment for the facility. The most purchased cybersecurity solutions are to comply with the regulatory guidelines and most organizations fail to evaluate their investments in security. Digital devices in hospitals are not upgraded and usually run on old operating systems which are less secure. Hospitals fail to allot budgets for upgrading the devices as it is costly and if upgraded that will trigger FDA certification. Therefore, limited healthcare security budgets is acting as a major factor responsible to hinder the growth of medical device security market.The US Lead the Market in North America RegionIn United States there is a rise in adoption of wired and wireless networked medical devices because they have important role in individuals health outcomes. Because they collect vast clinical data these medical device systems are prone to security risk. In 2020, FDA released a safety action plan outlining proposals for improvement of cyber security in medical devices. These government initiatives to lessen the data breaches by increasing the security of medical devices is a major factor responsible to contribute for the growth of medical device security market in US.
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Key Highlights from Medical Device Security Market Report 2020.
Revenue and Sales Estimation — Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well recognized Types and end-use industry. Additionally, macroeconomic factor and regulatory policies are as curtained in Medical Device Security industry evolution and predictive analysis.
Manufacturing Analysis —the report is currently analyzed concerning various product type and application. The Medical Device Security Market provides a chapter highlighting manufacturing process analysis validated via primary information collected through Industry and Key officials of profiled companies.
Competition — Leading players have been analyzed depending on their company profile, product portfolio, capacity, product/service price, sales, and cost/profit.
Demand & Supply and Effectiveness — Medical Device Security Market report additionally provides distribution, Production, Consumption for the complete industry.
Medical Device Security Market Top Regions (regional analysis covers):-
- North America (the USA, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America, Middle East, and Africa
Reasons to Purchase the Report
- Current and future Global Medical Device Security Market outlook in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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Medical Device Security Market 2020 Report Brief:-
- The report covers forecast and analysis for the Medical Device Security market on a global and regional level
- The report includes the drivers and the restraints that affect the growth of the market
- Detailed information about the market opportunities are discussed
- The key target audience for the market has been determined in the report
- The revenue generated by the prominent industry players has been analyzed in the report
- The market numbers have been calculated using top-down and the bottom-up approaches
- The market is segmented on the basis of product, technology, ownership, and end-user industry which in turn is bifurcated on the regional level as well
- All the segments have been evaluated based on the present and the future trends
- The report deals with the in-depth quantitative and qualitative analyses of the Medical Device Security market
- The report includes detailed company profiles of the prominent market players
Look into Table of Content of Medical Device Security Market 2020 Research Report at
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