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Medical Device Security Market Growth Forecast to 2034 | Industry Analysis

  • Writer: Pallavi Garudkar
    Pallavi Garudkar
  • 7 days ago
  • 3 min read
Medical Device Security Market
Medical Device Security Market

According to Fortune Business Insights the global medical device security market size was valued at USD 7.29 billion in 2025. The market is projected to grow from USD 8.30 billion in 2026 to USD 22.69 billion by 2034, exhibiting a CAGR of 13.39% during the forecast period. The Medical Device Security Market focuses on technologies, software, services, and solutions designed to protect medical devices and connected healthcare systems from cybersecurity threats. With rapid digitization, the integration of IoT-enabled devices, and increasing use of networked medical equipment (such as infusion pumps, imaging systems, and patient monitors), securing medical devices has become a critical priority in healthcare. Effective security helps protect patient safety, prevent data breaches, and ensure compliance with regulatory standards.

Market Drivers

  • Rise in Cybersecurity Threats: Increasing frequency and sophistication of cyberattacks targeting medical devices and hospital networks are pushing healthcare organizations to invest more in security solutions.

  • Growth of Connected Healthcare Systems: Adoption of IoT, cloud-based systems, and wireless connectivity in medical equipment expands the attack surface, increasing the need for robust security.

  • Regulatory Compliance & Standards: Requirements from health authorities and standards bodies for secure development, monitoring, and reporting of vulnerabilities are driving adoption of security technologies.

  • Patient Safety & Data Protection: Ensuring integrity and confidentiality of patient data, while preventing device malfunction due to cyber threats, is a key priority for healthcare providers.

Market Restraints

  • High Implementation Costs: Advanced security solutions can be expensive, particularly for legacy devices that require retrofitting or replacement.

  • Complexity of Healthcare IT Ecosystems: Heterogeneous device environments, interoperability challenges, and integration with existing IT infrastructure can slow down security deployments.

  • Limited Awareness in Smaller Facilities: Smaller hospitals and clinics may lack resources, expertise, or awareness about the importance of medical device security.

Segmentation Analysis

By Component

  • Solutions:

    • Network Security

    • Endpoint Security

    • Identity & Access Management

    • Encryption & Tokenization

    • Cloud Security

    • Others

  • Services:

    • Professional Services

    • Managed Services

Solutions represent the core of the market, with endpoint security and identity & access management seeing particularly strong demand. Managed services are growing rapidly as healthcare providers outsource security operations.

By Deployment Mode

  • On-Premises: Preferred by large hospitals with internal security teams

  • Cloud: Increasingly adopted due to scalability, remote management capabilities, and integration with broader cloud healthcare IT environments

Cloud deployment is gaining traction with the rise of remote healthcare and distributed care models.

By End User

  • Hospitals & Health Systems: Largest segment due to extensive device ownership and high risk profile

  • Diagnostic & Imaging Centers: High demand owing to large connected device portfolios

  • Ambulatory Care Centers

  • Research & Academic Institutes

  • Other Healthcare Facilities

Hospitals and large care systems invest heavily in device security to protect critical infrastructure and patient data.

Regional Insights

  • North America: Holds the largest share backed by strong digital health adoption, stringent regulations, and frequent cyber threats.

  • Europe: Significant growth supported by data protection standards and healthcare modernization initiatives.

  • Asia Pacific: Fastest-growing region due to expanding healthcare infrastructure, rising IT investments, and growing awareness around cybersecurity.

  • Latin America & Middle East & Africa: Emerging growth markets supported by gradual digital transformation and increasing healthcare expenditure.

Key Players:

  • Palo Alto Networks (U.S.)

  • Medcrypt (U.S.)

  • Forescout (U.S.)

  • ORDR (U.S.)

  • Armis Inc (U.S.)

  • Check Point Software Technologies Ltd. (Israel)

  • Axonius (U.S.)

Key Industry Development:

  • December 2025: SEALSQ Corp entered the healthcare industry through its subsidiary IC’Alps, delivering custom integrated chip solutions and post-quantum protection for next-generation medical devices.

  • October 2025: Thirdwayv Inc. collaborated with Medcrypt Inc., a premier provider of medical device cybersecurity and vulnerability management solutions, to advance cybersecurity and interoperability standards and solutions across the connected medical device ecosystem.

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