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How has the Healthcare IoT Security market size evolved in recent years?

The market size for IoT security in healthcare has seen a significant surge lately. The market size is projected to increase from $2.74 billion in 2024 to $3.55 billion in 2025, experiencing a compound annual growth rate (CAGR) of 29.6%. The historical growth in this sector is primarily due to the demand for strong defensive measures, regulations stressing the necessity for secure healthcare data, constant digital evolution in healthcare, economic developments, and urbanization.

What are the predictions for the healthcare iot security market size in the coming years?

The market for IoT security in healthcare is projected to experience significant expansions in the coming years, with an estimated value of $9.76 billion in 2029 and a compounded annual growth rate of 28.8%. The anticipated surge during the forecast period is due to growing concerns over cybersecurity, increased incorporation of IoT in healthcare to improve patient care, escalating data privacy worries and active government measures. Foreseen trends in this forecast period encompass advancements in IoT technology, the incorporation of blockchain for secure data, inventive specialized security solutions for healthcare IoT, technological progress, and an upsurge in partnerships.

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What key factors are fueling the growth of the healthcare iot security market?

The surge in cybersecurity issues is predicted to fuel the expansion of the healthcare IoT security market in the future. These concerns revolve around potential threats, risks, and susceptibility linked to the utilization of information technology and digital systems. Responsible for ensuring the safety of confidential patient data and medical records, healthcare IoT security diminishes cybersecurity threats in the healthcare industry. For example, the Department of Defence Australia, a government entity based in Australia, reported in November 2023 that the Australian Cyber Security Centre received over 94,000 cybercrime reports during the fiscal year of 2022-2023. This represents a 23 percent increase from the preceding year, 2021-22. Consequently, the escalating issues related to cybersecurity are the driving force behind the growth of the healthcare IoT security market.

How is the global healthcare iot security market divided into key segments?

The healthcare IoT security market covered in this report is segmented –

1) By Component: Solution, Services

2) By Security Type: Application Security, Cloud Security, Endpoint Security, Network Security, Other Security Types

3) By End-use: Hospitals, Surgical Centers, and Clinics, Government and Defense Institutions, Clinical Research Organizations, Research and Diagnostic Laboratories

Subsegments:

1) By Solution: Identity And Access Management (IAM), Data Encryption And Tokenization, Intrusion Detection And Prevention Systems (IDPS), Device Authentication And Management, Secure Network Communication

2) By Services: Consulting Services, Risk Assessment And Management, Managed Security Services, Training And Education Services, Support And Maintenance Services

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Who are the key firms paving the way for growth in the healthcare iot security market?

Major companies operating in the healthcare iot security market report are Microsoft Corporation, Deutsche Telekom AG, Dell Corporation, Intel Corporation, IBM Corporation, Cisco Systems, Oracle Corporation, Klynveld Peat Marwick Goerdeler, Palo Alto Networks Inc., Fortinet Inc, Symantec Corporation (NortonLifeLock), Checkpoint Software Technology, Trend Micro Inc., AO Kaspersky Lab, Kaspersky Lab, Sophos Group Plc, Claroty, Eurotech SpA, Atmel Corporation, Inside Secure SA, CloudWave, Cynerio, ICterra, Medigate by Claroty, Asimily, Waracle, CyberMDX, SecureFLO LLC, Agile Cyber Security Solutions LLC, Intelen Inc., Security Mentor

Which trends are expected to transform the healthcare iot security market?

Leading businesses in the healthcare IoT security market are introducing progressive products, including security systems for medical devices, to accommodate customers with superior features. Security systems for medical devices are a combination of methods, technologies, and strategies aimed at preserving the privacy, reliability, and accessibility of medical devices and their sensitive data. For instance, Palo Alto Networks Inc., an American cybersecurity firm, introduced Medical IoT Security in December 2022, a zero-trust security solution. The unique attribute of Palo Alto Networks Medical IoT Security is its potential to implement and manage developing connected technologies swiftly and securely for healthcare organizations. This solution upholds improved security through a zero-trust strategic approach to cybersecurity, repetitively verifying every user and device and removing implicit trust. Integrating machine learning, Palo Alto Networks Medical IoT Security enables healthcare organizations to create device rules and initiate automated security responses. Moreover, it aids in the mechanization of Zero Trust policy suggestions and application.

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What regions are contributing significantly to the growth of the healthcare iot security market?

North America was the largest region in the healthcare IoT security market in 2024. The regions covered in the healthcare iot security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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