Medical Device Security Solutions Market by Device and Geography - Forecast and Analysis 2020-2024

Medical Device Security Solutions Market by Device and Geography - Forecast and Analysis 2020-2024

Global Medical Device Security Solutions Market: About this market

Technavio’s medical device security solutions market analysis considers sales from wearable and external medical devices, hospital medical devices, and internally embedded medical devices. Our study also finds the sales of medical device security solutions in APAC, Europe, MEA, North America, and South America. In 2018, the wearable and external medical devices segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing awareness about lifestyle disorders and familiarity with new technologically advanced devices will play a significant role in the wearable and external medical devices segment to maintain its market position. Also, our global medical device security solutions market report looks at factors such as growing concerns about healthcare data, growing adoption of IoT and connected devices in the health care industry, and stringent government regulations. However, use of outdated platforms in healthcare industry, lack of awareness regarding security and technical issues, and low expenditure on healthcare security may hamper the growth of the medical device security solutions industry over the forecast period.

Global Medical Device Security Solutions Market: Overview

Growing adoption of IoT and connected devices in the healthcare industry

Healthcare organizations are gradually moving toward creating a connected hospital infrastructure with the aid of IoT to provide timely and improved care. IoT is increasingly leveraged in the healthcare industry through various applications, including telemedicine, connected imaging, medication management, and inpatient monitoring. However, the increasing use of connected medical devices coupled with increasing deployment of IoT has made computer systems more vulnerable to cybersecurity threats. This is prompting stakeholders in the healthcare sector to increase their focus on improving network security and forming robust healthcare IT infrastructure. Thus, with the growing adoption of IoT and connected devices will lead to the expansion of the global medical device security solutions market at a CAGR of over 8% during the forecast period.

Increasing demand for cloud-based solutions

The deployment of cloud computing in the healthcare industry has increased considerably in recent years as it offers business agility, privacy, and security at lower costs. Cloud computing quickens the access of electronic medical records and enables the storage of clinical statistical data related to hospitals and clinics. Furthermore, factors including the rising need to comply with regulations, growing penetration of high-speed networks, and rising digital awareness are increasing the adoption of cloud-based solutions in the healthcare sector. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global medical device security solutions market during the forecast period 2020-2024, click here.

Competitive Landscape

With the presence of several major players, the global medical device security solutions market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading medical device security solutions manufacturers, that include Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., ClearDATA Networks Inc., CloudPassage Inc., General Electric Co., International Business Machines Corp., Koninklijke Philips NV, McAfee LLC, and Palo Alto Networks Inc.

Also, the medical device security solutions market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Vendors: Key product offerings
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global systems software market
      • Table Segments of global systems software market
    • Market characteristics
      • Table Market characteristics
    • Value Chain Analysis
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2019
      • Table Market size 2019
    • Market Outlook
    • Market size and forecast 2019-2024
      • Table Global market: Size and forecast 2019-2024 ($ millions)
      • Table Global market: Year-over-year growth 2020-2024 (%)
  • Five forces analysis
    • Table Five forces analysis 2019
    • Table Five forces analysis 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market segmentation by device
    • Table Device - Market share 2019-2024 (%)
    • Comparison by device
      • Table Comparison by device
    • Wearable and external medical devices - Market size and forecast 2019-2024
      • Table Wearable and external medical devices - Market size and forecast 2019-2024 ($ millions)
      • Table Wearable and external medical devices - Year-over-year growth 2020-2024 (%)
    • Hospital medical devices - Market size and forecast 2019- 2024
      • Table Hospital medical devices - Market size and forecast 2019-2024 ($ millions)
      • Table Hospital medical devices - Year-over-year growth 2020-2024 (%)
    • Internally embedded medical devices - Market size and forecast 2019-2024
      • Table Internally embedded medical devices - Market size and forecast 2019-2024 ($ millions)
      • Table Internally embedded medical devices - Year-over-year growth 2020-2024 (%)
    • Market opportunity by device
      • Table Market opportunity by device
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2019-2024
      • Table North America - Market size and forecast 2019-2024 ($ millions)
      • Table North America - Year-over-year growth 2020-2024 (%)
    • Europe - Market size and forecast 2019-2024
      • Table Europe - Market size and forecast 2019-2024 ($ millions)
      • Table Europe - Year-over-year growth 2020-2024 (%)
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 ($ millions)
      • Table APAC - Year-over-year growth 2020-2024 (%)
    • South America - Market size and forecast 2019-2024
      • Table South Aerica - Market size and forecast 2019-2024 ($ millions)
      • Table South America - Year-over-year growth 2020-2024 (%)
    • MEA - Market size and forecast 2019-2024
      • Table MEA - Market size and forecast 2019-2024 ($ millions)
      • Table MEA - Year-over-year growth 2020-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision Framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Growing geriatric population and prevalence of chronic diseases
    • Rising demand for self-medication and homecare medical devices
    • Increasing demand for cloud-based solutions
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Broadcom Inc.
      • Table Broadcom Inc. - Vendor overview
      • Table Broadcom Inc. - Business segments
      • Table Broadcom Inc. - Organizational developments
      • Table Broadcom Inc. - Geographic focus
      • Table Broadcom Inc. - Segment focus
      • Table Broadcom Inc. - Key offerings
    • Check Point Software Technologies Ltd.
      • Table Check Point Software Technologies Ltd. - Vendor overview
      • Table Check Point Software Technologies Ltd. - Business segments
      • Table Check Point Software Technologies Ltd. - Organizational developments
      • Table Check Point Software Technologies Ltd. - Geographic focus
      • Table Check Point Software Technologies Ltd. - Segment focus
      • Table Check Point Software Technologies Ltd. - Key offerings
    • Cisco Systems Inc.
      • Table Cisco Systems Inc. - Vendor overview
      • Table Cisco Systems Inc. - Business segments
      • Table Cisco Systems Inc. - Organizational developments
      • Table Cisco Systems Inc. - Geographic focus
      • Table Cisco Systems Inc. - Segment focus
      • Table Cisco Systems Inc. - Key offerings
    • ClearDATA Networks Inc.
      • Table ClearDATA Networks Inc. - Vendor overview
      • Table ClearDATA Networks Inc. - Business segments
      • Table ClearDATA Networks Inc. - Organizational developments
      • Table ClearDATA Networks Inc. - Key offerings
    • CloudPassage Inc.
      • Table CloudPassage Inc. - Vendor overview
      • Table CloudPassage Inc. - Business segments
      • Table CloudPassage Inc. - Organizational developments
      • Table CloudPassage Inc. - Key offerings
    • General Electric Co.
      • Table General Electric Co. - Vendor overview
      • Table General Electric Co. - Business segments
      • Table General Electric Co. - Organizational developments
      • Table General Electric Co. - Geographic focus
      • Table General Electric Co. - Segment focus
      • Table General Electric Co. - Key offerings
    • International Business Machines Corp.
      • Table International Business Machines Corp. - Vendor overview
      • Table International Business Machines Corp. - Business segments
      • Table International Business Machines Corp. - Organizational developments
      • Table International Business Machines Corp. - Geographic focus
      • Table International Business Machines Corp. - Segment focus
      • Table International Business Machines Corp. - Key offerings
    • Koninklijke Philips NV
      • Table Koninklijke Philips NV - Vendor overview
      • Table Koninklijke Philips NV - Business segments
      • Table Koninklijke Philips NV - Organizational developments
      • Table Koninklijke Philips NV - Geographic focus
      • Table Koninklijke Philips NV - Segment focus
      • Table Koninklijke Philips NV - Key offerings
    • McAfee LLC
      • Table McAfee LLC - Vendor overview
      • Table McAfee LLC - Business segments
      • Table McAfee LLC - Organizational developments
      • Table McAfee LLC - Key offerings
    • Palo Alto Networks Inc.
      • Table Palo Alto Networks Inc. - Vendor overview
      • Table Palo Alto Networks Inc. - Business segments
      • Table Palo Alto Networks Inc. - Organizational developments
      • Table Palo Alto Networks Inc. - Geographic focus
      • Table Palo Alto Networks Inc. - Segment focus
      • Table Palo Alto Networks Inc. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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