Size of the healthcare IoT security market worth $5.09 billion, globally, by 2028 at a CAGR of 21.3%: Verified Market Research ®

JERSEY CITY, NJ, February 21, 2022 /PRNewswire/ — Verified Market Research recently released a report, “Healthcare IoT Security MarketBy component (solutions and services), by security type (application security, network security, endpoint security, and cloud security), by end user (hospitals, clinics, and surgical centers), and by geography. According to research by verified market, the global IoT Security in Healthcare market size was valued at $1.09 billion in 2020 and is expected to reach $5.09 billion by 2028, growing at a CAGR of 21.3% from 2021 to 2028.

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Global Healthcare IoT Security Market Overview

Recent advances in IoT technology have enabled medical devices to perform real-time analyzes that were not possible for doctors a few years ago. The use of big data and cloud computing has also improved the reliability and ease of patient-physician communication. IoT devices give patients more independence and therefore better compliance by facilitating monitoring and therapy. These gadgets enable continuous analysis and monitoring of medical data that would not otherwise be possible. They also provide healthcare providers with immediate access to current information, enabling them to provide better care.

The emergence of COVID-19 has forced healthcare workers to use connected devices to track and isolate large numbers of COVID-19 patients. These gadgets make it possible to deliver services remotely, easing the pressure on healthcare providers. Advances in technology have led to the introduction of new gadgets; however, IT managers struggle to detect them all. Hospitals and healthcare facilities are increasing the adoption of telemedicine technology as the Covid19 pandemic continues to impact all industries around the world.

Technological advancements have benefited the medical industry by streamlining workflows, improving communication between patients and doctors, and reducing the influx of patients into hospitals, but ransomware attacks and data breaches have increase. As patients and healthcare professionals embrace new technologies, cyberattacks in healthcare are on the rise. In 2019, the average cost of an IoT-driven cyberattack against a healthcare facility was $346,205. The use of IoT has improved healthcare services and patient care, however, the rising prevalence of cyber threats has hampered the market growth.

Key players

The major market players are Microsoft, IBM, Oracle, Intel, Cisco Systems, Deutsche Telekom AG, Agile Cyber ​​Security, Checkpoint Software Technology, Fortinet Inc, Inside Secure SA, Eurotech, Kaspersky.

Verified market research has segmented the global healthcare IoT security market on the basis of component, security type, end user, and geography.

  • Healthcare IoT Security Market, By Component
  • Healthcare IoT Security Market, By Security Type
    • Application Security
    • internet security
    • Endpoint Security
    • Cloud Security
  • Healthcare IoT Security Market, By End User
    • Hospitals
    • Clinics
    • Surgical centers
  • Healthcare IoT Security Market by Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • LINE
      • Middle East & Africa
      • Latin America

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