Healthcare Security Systems Market to Witness Increased Incremental Dollar Opportunity During the Forecast Period 2018– 2024

Privacy and security of data and resources are of utmost importance to the society. These security systems play a highly important role in improving the healthcare sector owing to their wide-range of benefits. The healthcare security systems comprise of a wide number of physical security solutions that are installed at various healthcare vicinities like assisted living facilities, medical centers, open publication distribution systems (OPDs), ambulatory care centers, and hospitals. Intercom & emergency communication, perimeter protection, video surveillance, and access control system are some of the various types of healthcare security systems available.

As per the latest study conducted by the team of Market Research Future (MRFR), the global healthcare security systems market is projected to expand at a CAGR of 9.5% during the assessment period.

Healthcare security systems boast a wide array of features. It deals with open access in multiple buildings, hectic emergency departments, confidentiality requirements, constant visitor’s traffic, property and info against political threats, and hectic emergency departments.

The report published by MRFR reveals the various drivers of the market. It states that the growing need to prevent healthcare facilities from theft, assault, and other criminal actions is a major driver of the global healthcare security systems market. Another major factor is the rising need for healthcare facilities and providers to go in accordance to the rules and regulations of the state and federal laws.

On the flip side, concerns surrounding cyber security, the costly nature of these systems, the limited number of available training programs concerning the safety and security of these systems, and its lack of awareness are the major roadblocks to the market growth of healthcare security systems.

Market Segmentation

The global Healthcare Security Systems market segmentation can be classified on the following basis: type, application, surveillance system, and end-user.

By type, the market includes security alarm, CCTV system, intrusion detection instruments, metal and explosive detectors, access control systems, RFID tags, infant security system, and others. Security alarm further segments down into carbon monoxide alarm, fire alarm, burglar alarms, and others

By application, the market includes document and data file tracking, surgical equipment tracking, monitoring, medical devices tracking, patient tracking, and others.

By surveillance system, the market includes surveillance cameras, video surveillance, and others.

By end-user, the market comprises diagnostic centers, hospital, clinics, laboratories, pharmacy, and others.

Regional Analysis           

Geographically, the global Healthcare Security Systems market breaks down into Europe, the Americas, the Middle East & Africa, and Asia-Pacific.

The Americas hold the dominant hand in the globular market for healthcare security systems. This can be significantly attributed to the vast pool of healthcare organizations that are being compelled to adapt to the latest security systems in their facilities. With a huge infrastructure, piles of information, and the ease of accessibility, risks in terms of security in the healthcare sector is ever-growing. Key market players like BOSH securities systems and STANLEY securities in the US are already on the verge of reaching maturity in terms of growth. This has prompted the healthcare institutes to take notice and install security systems within their organizations.

The European market holds a massive growth potential and stands currently as the second biggest regional market. The growth of the Asia-Pacific region can be attributed to the increasing number of healthcare facilities being build up in major economic nations of this region.

Competitive Analysis

Cisco Systems, Inc. (US), Allied Telesis, Inc. (US), STANLEY Healthcare (France), Atos SE (Germany), Johnson Controls (US), Tyco Security Products (India), ADT LLC dba ADT Security Services (US), Nedap Security Management (Netherlands),  Seico Security (US), Avigilon Corporation (Canada), Schneider Electric SE (US), Honeywell International, Inc. (US), Bosch Security Systems (US), and Siemens AG (Germany) are some of the pioneering players in the global healthcare security systems market.

Feb 12th 2019, Atos announced the launch of its first-ever comprehensive cybersecurity solution meant for the healthcare industry. The solution suite offers security consulting services to managed security services, identity management to cloud security. The solution will help enhance security and safety at all levels of patient care.

January 28th, 2019, Stanley B&D announced its latest development of a voice-enable home health assistant called Pria. The company joined hands with Pillo Health to develop the same. The digital assistant/companion provides patients with a number of benefits like scheduling medications, reminders, timing of medications, track visits of the caregiver, monitor patient health, and provide 24/7 service.