Global healthcare IoT security market size worth $ 5.09B by 2028

Verified Market Research recently published a report, “Healthcare IoT Security Market” By Component (Solutions and Services), By Security Type (Application Security, Network Security, End Point Security, and Cloud Security), By End User (Hospitals, Clinics, and Surgical Centers), and By Geography. According to Verified Market Research, the Global Healthcare IoT Security Market size was valued at USD 1.09 Billion in 2020 and is projected to reach USD 5.09 Billion by 2028, growing at a CAGR of 21.3% from 2021 to 2028.

Global Healthcare IoT Security Market Overview
Recent advancements in IoT technology have enabled medical devices to perform real-time analytics that was 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-doctor communication. IoT devices give patients more independence and, as a result, better compliance by making monitoring and therapy easier. These gadgets allow for the analysis and continuous monitoring of medical data that would not otherwise be possible. They also provide healthcare providers with immediate access to current information, allowing them to provide better care.

COVID-19’s emergence has compelled healthcare staff to use connected devices to track and isolate a large number of COVID-19 patients. These gadgets allow remote services to be provided, easing the pressure on healthcare providers. Technological advancements have resulted in the introduction of new gadgets; however, IT managers are facing difficulty detecting all of them. Hospitals and healthcare facilities are increasing the adoption of telemedicine technology as the Covid19 pandemic continues to impact all industries around the world.

Technological advances have benefited the medical industry by streamlining workflows, improving communication between patients and doctors, and reducing patient influx into hospitals, but ransomware attacks and data breaches have increased. As patients and healthcare professionals adopt new technologies, cyberattacks in the healthcare industry are on the rise. In 2019, the average cost of an IoT-focused cyber-attack on a healthcare organization was USD 346,205. The use of IoT has enhanced health services and patient care, however, the rising prevalence of cyber threats has hampered the growth of the market.

Key Players
b>The major players in the market are Microsoft, IBM, Oracle, Intel, Cisco Systems, Deutsche Telekom AG, Agile Cyber Security, Checkpoint Software Technology, Fortinet Inc, Inside Secure SA, Eurotech, Kaspersky. PR Newswire