Market Trends of Smart Security Industry in Healthcare Sector
This section covers the major market trends shaping the Healthcare Smart Security Market according to our research experts:
End Point Security Expected to Witness Significant Growth
- The Modern healthcare endpoint security and protection often feature patch management and other endpoint management capabilities that cater to the healthcare sector. Many healthcare industry players incorporate endpoint security, which alerts their IT security team when a device lacks a security patch or is using outdated information. It also allows them to schedule when the patch should be downloaded or updated to not interfere with business processes. This contributes to a consistent security layer.
- Healthcare employees' increasing number of connected devices leads to increased information sharing. Still, it places the endpoint at higher risk than ever before. For instance, according to an ETNO report, in the EU region alone, the number of IoT-connected healthcare devices for FY 2020 amounted to more than 3.10 million.
- COVID-19 forced many employees into remote working situations, which naturally increased the number and variety of endpoints. Endpoint security became a significant component of every healthcare organization's cybersecurity program. It only takes one susceptible endpoint for a threat actor to gain access and facilitate a healthcare cyberattack—and with an increase in remote work, bring-your-own-device (BYOD), and a growing number of connected devices across healthcare IT networks.
- The market is witnessing various partnerships, mergers, and acquisitions. For instance, in September 2021, Medigate, a prominent KLAS IoT Security Provider in healthcare, announced a partnership with CrowdStrike, a provider of cloud-delivered endpoint and workload protection, to offer healthcare delivery organizations (HDOs) with the company's first consolidated view of threat activity and incident response capability spanning all connected assets.
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North America Expected to Witness Significant Growth
- The healthcare industry is one of the most regulated industries in North America due to privacy and security concerns associated with digital patient records. Companies are rolling out innovative products to safeguard patient data. For instance, Cisco released the latest version of the Cisco Umbrella and deployed it in the University of Kansas Hospital to protect medical devices and financial information from ransomware.
- To fight the continuous threats plaguing the healthcare industry, the Department of Homeland Security (DHS) and the American Hospital Association (AHA) conducted a webinar focusing on current cybersecurity threats to the healthcare sector. It encouraged healthcare professionals to gain knowledge about the best practices regarding medical security, thereby encouraging market growth.
- Apart from the United States, Canada actively focuses on enhancing medical device security. In July 2021, Relay Medical Corp announced an engagement to provide the Cybeats integrated cybersecurity platform to StarFish Product Engineering Inc., Canada's largest medical device design consultancy. Under the engagement, Relay will provide the Cybeats cybersecurity platform to StarFish Medical for high-valued connected medical devices.
- Owing to increasing security breaches, in September 2021, Ordr, an IT security firm for connected devices, launched a guide to help National Health Service (NHS) providers meet NHS Digital's new Data Security and Protection Toolkit (DSPT) criteria.
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