Medical IoT Security Market Size, Share, Opportunities, and Trends Report Segmented By Device, Application, End-User, and Geography – Forecasts from 2025 to 2030

Description

Medical IoT Security Market Size:

Medical IoT Security Market is set to grow at a 18.20% CAGR, growing from USD 496.580 million in 2025 to USD 1,145.715 million by 2030.

Medical IoT Security Market Trends:

IoT devices in healthcare present a wealth of opportunities by enabling healthcare professionals to remotely monitor patients' vital signs and health data in real-time, thereby enhancing early disease detection and personalized care. Patients, too, can actively engage in self-monitoring and gain valuable insights into their health. However, these advancements also bring challenges, such as data security and privacy concerns. As a result, The Medical IoT security industry is witnessing substantial revenue growth.

Medical IoT Security Market Segmentation Analysis:

• Adoption of IoT Drives Medical IoT Security Market Growth

Securing IoT devices in healthcare is imperative due to the increasing risks of data breaches and cyberattacks. In recent years, millions of patient records have been exposed, leading to privacy concerns and financial losses for healthcare organizations. The growing strength of internet-connected devices has further propelled the demand. According to the research study published in the National Library of Medicine, In 2020, the global count of internet-connected devices is estimated to be over 21 billion, marking a fivefold increase compared to the number of devices connected just four years prior.

• Increasing Cyber Attacks to drive the medical IoT Security market growth.

DDoS attacks in healthcare can severely disrupt the ability to provide care by denying access to vital resources, emphasizing the need for robust IoT security in the healthcare sector. According to the US Healthcare Cybersecurity Coordination Center’s analysis report published in February 2023, ransomware DDoS attacks increase by 67 percent every year and 24 percent every quarter. Moreover, as per the same source, as of Q2 2022, UDP attacks constituted the majority at 62.53 percent of all DDoS attacks, followed by SYN, and TCP.

• Rising smart Health Care Trend drives the Medical IoT Security Market

Smart healthcare services leverage advanced information technologies such as IoT, big data analytics, cloud computing, AI, and deep machine learning to revolutionize traditional healthcare delivery. These technologies enable healthcare to become more efficient, convenient, and personalized. However, the increased adoption of such technologies also raises significant privacy concerns. This underscores the critical need for robust security measures in the medical sector. Various private players are raising investments in this regard to expand their medical IoT solutions. For instance, in May 2021, Cynerio raised US$30 million in series B funding which the company stated it would use in expanding its advanced healthcare IoT cybersecurity solutions. The investments would further enable the company to expand its presence in North America.

Medical IoT Security Market Geographical Outlook:

• North America is expected to lead the market.

The North American region is poised for significant expansion in the medical IoT security market. This surge can be mainly attributed to the widespread adoption of IoT technology throughout the region and the continuous advancements witnessed in the healthcare sector. Robust security measures are also being taken by the government. For example, the President’s Budget for FY 2023 for the total civilian federal IT spending is estimated to be approximately $10.9 billion of budget authority for civilian cybersecurity-related activities. Out of this, the Department of Health and Human Services (HHS) is expected to receive approximately 11.9% amounting to a total of around $7,824 million.

List of Top Medical IoT Security Companies:

• Palo Alto Medical IoT security: Medical IoT Security, is a comprehensive Zero Trust security solution designed to secure medical devices in healthcare organizations. This solution aims to protect connected medical devices such as diagnostic and monitoring systems, ambulance equipment, and surgical robots from cyber threats. Palo Alto Networks' Medical IoT Security uses machine learning to automate device discovery, contextual segmentation, and policy enforcement, making it easier for healthcare organizations to implement a zero-trust approach. It also provides threat protection through integration with Palo Alto Networks' cloud-delivered security services.
• Cynerio Medical IoT security: Cynerio offers cybersecurity solutions tailored to the unique needs of healthcare environments. Their technology provides automated discovery of all connected devices on healthcare networks, regardless of their operating system, location, or manufacturer. They aim to provide full visibility and inventory of connected devices while reducing false positives, allowing healthcare organizations to address issues efficiently. Cynerio's solutions also include the detection and response to various cyber threats, such as ransomware, often responding within two hours. Additionally, they offer compliance reporting to meet various regulatory requirements related to IoT and IoMT devices.

Medical IoT Security Market Scope:

Segmentation

• By Device
  • Infusion & Insulin Pump
  • Smart Pen
  • Wireless Smart Monitors
  • Others
• By Application
  • Remote Patient Monitoring
  • Medical Device Usage
  • Others
• By End-User
  • Hospitals
  • Clinics
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Other

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Table Of Contents

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Market Opportunities

4.4. Porter’s Five Force Analysis

4.4.1. Bargaining Power of Suppliers

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitutes

4.4.5. Competitive Rivalry in the Industry

4.5. Industry Value Chain Analysis

5. MEDICAL IOT SECURITY MARKET ANALYSIS, BY DEVICE

5.1. Introduction

5.2. Infusion & Insulin Pump

5.3. Smart Pen

5.4. Wireless Smart Monitors

5.5. Others

6. MEDICAL IOT SECURITY MARKET ANALYSIS, BY APPLICATION

6.1. Introduction

6.2. Remote Patient Monitoring

6.3. Medical Device Usage

6.4. Others

7. MEDICAL IOT SECURITY MARKET ANALYSIS, BY END-USER

7.1. Introduction

7.2. Hospitals

7.3. Clinics

8. MEDICAL IOT SECURITY MARKET ANALYSIS, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1.  Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. UK

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. South Korea

8.6.4. India

8.6.5. Australia

8.6.6. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Palo Alto Networks

10.2. Cynerio

10.3. Futurex LP

10.4. Forescout Technologies, Inc

10.5. Cylera

10.6. Order Inc.

Companies Profiled

Palo Alto Networks

Cynerio

Futurex LP

Forescout Technologies, Inc

Cylera

Order Inc.

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