Technavio Global Medical Device Security Solutions Market Report

In the latest report, Technavio predicts that the global medical device security solution market will grow to US $ 310.4 million between 2020 and 2024.

The report focuses on:
Medical institutions are working to build an interconnected hospital infrastructure using the Internet of Things to provide quality medical services in a timely manner.

The Internet of Things is increasingly being used in the healthcare industry through a variety of applications such as telemedicine, connected imaging, medication management, and inpatient monitoring.

However, increasing use of connected medical devices and the popularity of the Internet of Things make computer systems more vulnerable to cybersecurity threats.

This requires healthcare professionals to focus more on improving network security and building a robust healthcare IT infrastructure.

Therefore, during the forecast period, the healthcare industry is expected to increasingly adopt devices connected to the Internet of Things, which will significantly increase the demand for security solutions for medical devices.

According to Technavio, rising demand for cloud-based solutions will have a positive impact on market growth during the forecast period. The research report also analyzes other key trends and market momentum affecting market growth from 2020 to 2024.

Medical Device Security Solutions Market: Increasing Demand for Cloud-Based Solutions

In recent years, the low cost of cloud computing, which provides business agility, privacy, and security, has led to a significant increase in adoption in the healthcare industry.

Cloud computing can accelerate access to electronic medical records and store clinical statistics related to hospitals and clinics. In addition, increased regulatory compliance, growing popularity of high-speed networks, and growing digital awareness are driving cloud-based solutions in the healthcare sector.

As more and more healthcare organizations upgrade to cloud-based systems, the demand for cloud-based medical device security solutions is expected to increase significantly during the forecast period.

Technavio said: “Medical data, strict government regulations, and concerns about growing demand for self-care and home-based medical devices are expected to explode the medical device security solution market during the forecast period,” said senior analyst. It was.

Medical Device Security Solutions Market: Segmentation Analysis

In this market research report, the medical device security solutions market is by device (wearable and external medical devices, hospital medical devices, internally implanted medical devices) and geographic region (Asia Pacific, Europe, North America, Middle East / Africa, South America). It is classified into. Classification). It is divided.

North America led the market in 2019, followed by Europe, Asia Pacific, South America and the Middle East / Africa. Growth in the North American market may be due to the proliferation of wired and wireless network medical devices.

Increasing elderly populations, increasing demand for better healthcare facilities, and cyberattacks on healthcare institutions will allow the region to achieve its highest growth during the forecast period.