The healthcare IoT security market was valued at 71.8 billion in 2020 and is anticipated to reach USD 198.3 billion in 2027, registering a CAGR of 32.4% during the forecast period 2021-2027. The healthcare IoT security market provides end-to-end data security on a cloud-based platform. Many pharmaceutical industries and medical centers have collaborated with healthcare IoT security companies to provide customers’ data. Modernization and technological advancement have propelled hospitals to use digital platforms to track and monitor patients’ health. Moreover, increased focus on active patient engagement and patient-centric care, rise in high-speed network technologies for IoT connectivity are the factors that propel the healthcare IoT security market. Owing to the rising demand for security in providing data about patient's and real-time data, many countries like America, Europe, India, Japan, China, Australia, etc., are investing in the healthcare IoT security market.

Based on application, the global healthcare IoT security market is divided into clinical operations & workflow management, telemedicine (remote patient monitoring, store & forward telemedicine, and interactive telemedicine), connected imaging, medication management, inpatient management, and others. Telemedicine is growing at a significant pace owing to the adoption of IoT technology in managing patient data and tracking information about patients. Moreover, inpatient management is anticipated to grow at a high CAGR as provides continuous measurement of a patient’s physiological functions for guiding management decisions and making therapeutic interventions.

The drivers for the growth of the healthcare IoT security market include growing implementation of cloud computing in healthcare facilities, rising demand for real-time data processing of patient records, growing vulnerabilities in connected devices, awareness among consumers in online booking of doctors' appointments using hospital services, increasing susceptibility of IoT devices to new security attacks and data breaches, rising government concerns about healthcare IoT security, adoption of smart devices for hospital management, has led to the growth of IoT security in healthcare.

Request to get free sample copy at: https://www.vynzresearch.com/healthcare/healthcare-iot-security-market/request-sample

There is an opportunity in the emerging economies to have an infrastructure for electric vehicles such as charging stations. Moreover, the government is providing subsidiaries to create opportunities for electric vehicle production and other development activities. All these advancements in the field of the automotive industry will bring numerous new opportunities for the wire harness market.

North America dominates the market in healthcare IoT security by adopting healthcare services to IoT security and privacy, increased penetration of smart devices and IoT enabled devices, the rising popularity of wearable devices, and the presence of industry players in the region. Moreover, the rising healthcare expenditure, increasing geriatric population, rising propagation of cybercrimes in healthcare propel the growth of the healthcare IoT security market in the region.

The industry players are striving to get traction in the competitive market by adopting strategies such as product penetration, product differentiation, mergers & acquisitions, collaborations, and partnerships to sustain in the market.

Medtronic partnered with IBM Watson to introduce a new feature IQcast, in its existing product Sugar.IQ, available for iOS mobile devices in the US. The app would offer patients a hypoglycemic event to monitor their low glucose level by predicting the occurrence anywhere between 1 to 4 hours in advance.

Some of the key players operating in the healthcare IoT security market: Cisco Systems, Inc., Inside Secure SA, Dell Inc., Intel Corporation, Deutsche Telekom AG, IBM, Oracle, Fortinet, Inc., Agile Cybersecurity Solutions, LLC, and Check Point Software Technologies Ltd.

Source: VynZ Research