The rising incidence of numerous diseases at an accelerated pace across the globe has created a lot of stress on the health care industry. The workload of the health care workers can be reduced through the use of medical devices. Furthermore, healthcare is shifting towards digital technology to make the process of patient monitoring and administration effective. The rising demand for digitally advanced medical devices which enable transferring, collecting, storing, and collecting data has led to high demand for secured medical devices. Considering these aspects, the medical device security market will witness promising growth during the forecast period of 2018-2026.
The growing use of connected devices helps in information sharing without interfering with business processes poses a threat to the data as it can leak or be hacked. The need for the security of sensitive data will sow the seeds of growth across the medical device security market.
Medical device security is used largely for the protection of medical data from cyber threats and protecting the data as per industrial guidelines. The rising influence of medical device security as a prominent security method will bring good growth opportunities for the medical device security market during the forecast period.
However, the advent of new technologies such as HIPPA and PII can be stored in electronic, format. The players in the medical device security market are investing in the formulation of new techniques that assist in increasing the revenues of the players and ultimately promote the growth of the medical device security market.
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Rising Need to Safeguard Medical Data to Attract Considerable Growth
The medical data comprises of high stake information. It can cause harm to the reputation of individuals suffering from certain medical complications. Due to the potential payoff through cyber security attacks, such adversaries are on a rise. Thus, the players in the medical device security market are focusing on developing technologically advanced and secure medical devices. These factors will bring exponential growth for the medical device security market.
Medical Device Security to Observe Promising Growth in Developing Economies Due to IOMT (Internet of Medical Things) Benefits)
The cyber security risk associated with medical devices can be handled through IoMT due to the following benefits that it offers:
- It tracks the medical interventions and helps to diagnose the disorder. Furthermore, medical practitioners can analyze whether the treatment is efficient or not.
- The medical devices gather the entire data of the patients and help them to diagnose the health issues.
- The monitoring of patients’ health is possible through the information collected about the patients’ health. Thorough monitoring is possible through digitally enhanced medical devices and is preferred more than the manually handled data.
- The automated control of medical devices is possible through configuring the personal data with health conditions so that the modification of doses and treatment procedures is possible.
- The connected devices allow the health care professionals to track patients’ health from central or remote locations easily.
The ongoing COVID-19 pandemic has created tremendous growth opportunities for the medical device security market. The features supporting remote and efficient access to patients’ health have shown substantial growth of the medical device security market.
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Security Requirements for Medical Devices as Per FDA Guidelines Propel Growth
IT teams help the cyber security teams to manage medical device security as per FDA guidelines. The key areas covered under the security requirements are as mentioned below:
- Integration of security into the device and make it minimum accessible. The default user names and passwords are changed and reset at regular intervals to reduce the risk.
- Customization of the medical devices as per the sensitivity of the data.
- Upgradation of the firmware to avoid insecure access to the data.
- Secure communication and encryption.
- Cyber-attack protection through continuous monitoring and ensuring the detection of breaches before attacks.
All these aspects are expected to bring multiple growth opportunities for the medical device security market.
