Medical Device Security Market Forecast 2025-2034: Growth Dynamics, Emerging Trends, and Strategic Opportunities
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers Contributing to the Growth and Expansion of the Medical Device Security Market?
The escalation in cyberattacks targeted at healthcare is projected to stimulate the expansion of the medical device security market. These cyberattacks consist of harmful acts aimed at healthcare organizations, networks, systems, and devices with the purpose of interrupting services, pilfering sensitive data, or inflicting damage. The increase in such attacks can be attributed to the investment in cybersecurity infrastructure, personnel education, regular threat evaluations, and industry-wide cooperation to exchange information about threats and best practices. Medical device security aids in thwarting these attacks on healthcare by defending devices, data, and networks, guaranteeing compliance, and advancing professionals’ awareness of cybersecurity. For example, as per the U.S. Department of Health and Human Services in October 2023, an average of about two healthcare data infractions involving over 500 records took place daily, leading to an average daily compromise of more than 364,000 healthcare records. This surge in healthcare cyberattacks is propelling the augmentation of the medical device security market.
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#What is the Growth Potential of the Medical Device Security Market, and How Will It Perform by 2034?
Significant growth has been witnessed in the medical device security market size over the past few years. It is projected to escalate from a market worth of $6.81 billion in 2024 to approximately $7.43 billion in 2025, marking a compound annual growth rate (CAGR) of 9.0%. This development in the historical era is due to increasing cybersecurity concerns, an abundance of linked devices, prominent security violations, the transition towards value-based care, and heightened interconnectivity.
The market for security in medical devices is projected to experience considerable expansion in the foreseeable future, reaching $10.35 billion by 2029 with a compound annual growth rate (CAGR) of 8.7%. The expected growth during the projection period is due to an emphasis on security in the supply chain, a shift towards remote healthcare options, increased investment in healthcare, a growth in the number of connected medical devices, and a rising incorporation of IoT in healthcare. Key trends over the projected period include technological innovation, integrated security solutions, partnerships between healthcare institutions and cybersecurity providers, and the fusion of AI and machine learning.
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What New Market Trends Are Reshaping theMedical Device Security Market and Its Opportunities?
Key players in the medical device security market are concentrating on the creation of groundbreaking solutions such as comprehensive zero-trust security solutions, aiming to revolutionize medical device security. Zero-trust security solutions necessitate the authentication of every user and device trying to connect to the network, regardless of their location or previous trust ratings, to minimize the risk of security infringements. For instance, in December 2022, Palo Alto Networks, Inc., a US-based cybersecurity firm, unveiled Medical IoT Security, a complete zero-trust security solution to safeguard integral medical devices used in patient care. This solution responds to the security vulnerabilities created due to the increased utilization of digital devices in healthcare like diagnostic and surveillance systems, ambulance equipment, and surgical robots. Using machine learning, this solution allows healthcare organizations to design device regulations with automated security responses, automate zero-trust policy suggestions and implementation, and comprehend device vulnerabilities and risk positioning.
Who Are the Leading Market Players Fueling Growth in the Medical Device Security Market Trend?
Major companies operating in the medical device security market are General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Koninklijke Philips N.V., DXC Technology Company, Palo Alto Networks, Synopsys Inc., Fortinet Inc., Check Point Software Technologies Ltd., McAfee LLC, Trend Micro Inc., Zscaler Inc., FireEye, Sophos Ltd., Irdeto B.V., Imperva Inc., Armis Inc., Protegrity USA Inc., Silex Technology America Inc., ClearData, Cynerio Ltd., Zingbox Inc., CloudPassage Inc., Cylera Inc., Bayshore Networks Inc.
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How is the Global Medical Device Security Market Segemented?
The medical device security market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Security Type: Endpoint Security, Network Security, Application Security, Cloud Security, Other Security Types
3) By Deployment Mode: On-Premise, Cloud-Based
4) By End User: Healthcare Institutions, Medical Device Manufacturers, Other End Users
Subsegments:
1) By Solutions: Security Software (Antivirus, Firewalls, Encryption), Network Security Solutions ( Intrusion Detection Systems, Vpns), Authentication And Access Control Solutions ( Multi-Factor Authentication), Risk And Compliance Management Solutions, Endpoint Security Solutions ( Device Monitoring, Patch Management)
2) By Services: Managed Security Services, Security Consulting Services, Vulnerability Assessment And Penetration Testing Services, Incident Response And Forensic Services, Training And Awareness Services
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Which Geographics are Influencing the Growth of the Medical Device Security Market?
North America was the largest region in the medical device security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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