Global Hospital Security Systems Market

Hospital Security Systems Market Size, Share, Growth Analysis, By Product(Access Control Systems (Smart Cards, Readers, Biometric Systems {Fingerprint Recognition Systems, Facial Recognition Systems), By Service(System Design, Installation, Integration, Other Services), By Surveillance System(Video Surveillance, Surveillance Cameras), By Application(Surgical Equipment, Medical Devices), By End-User(Hospital, Clinics), By Region - Industry Forecast 2025-2032


Report ID: SQSG20O2002 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 160 | Figures: 78

Hospital Security Systems Market Insights

Hospital Security Systems Market size was valued at USD 115 Billion in 2023 and is poised to grow from USD 135.01 Billion in 2024 to USD 476.17 Billion by 2032, growing at a CAGR of 17.4% during the forecast period (2025-2032).

The healthcare business has succumbed to the pressures of rising security hazards throughout the world, with hospitals being the primary target since they are the most easily accessed properties and their infrastructure is valuable to a wide range of criminals. According to the International Association for Healthcare Security & Safety's crime and security trends survey, 154 gunshots were reported within health care institutions countrywide between 2011 and 2020. According to the poll, more than 98 percent of all health-care institutions in the United States "experience violent and criminal occurrences." Hospitals have a unique problem in balancing security and safety while still delivering care and medical services under financial limits. This has resulted in a surge in the market for hospital security systems in an effort to deliver great treatment to patients while also providing safety and security to employees and visitors.

The growing need for healthcare providers to comply with state and federal laws, as well as the need to protect healthcare facilities from theft, assault, and other criminal activities, as healthcare organisations deal with sensitive issues and patient information, are driving the growth of this market. The huge increase in demand for integrated solutions for security, facilities, and data management as a result of hospitals' dwindling margins presents further growth potential for the hospital security systems industry. However, the expensive cost of these systems, cyber security issues, a lack of awareness in developing nations, and inadequate training programmes for the security and safety of these systems are limiting the market's growth.

Intrusion detection, video surveillance, access control, and emergency communication systems are all part of these systems. The hospital security systems market is being pushed by severe industry rules for patient and information protection, the growing threat of bioterrorism, an increase in patient and staff assaults, and increased demand for better security systems. The worldwide security systems market has reaped considerable potential from the healthcare sector, owing to the healthcare industry's strong expansion in recent years and a rising requirement within the healthcare industry to provide improved asset protection.

US Hospital Security Systems Market is poised to grow at a sustainable CAGR for the next forecast year.

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Hospital Security Systems Market size was valued at USD 115 Billion in 2023 and is poised to grow from USD 135.01 Billion in 2024 to USD 476.17 Billion by 2032, growing at a CAGR of 17.4% during the forecast period (2025-2032).

Key companies are investing in research and development to launch advanced sensors with specialised features for a wide range of blockchain Service. Furthermore, to strengthen their market position, most well-established companies in the Hospital Security Systems market are focusing their efforts on acquiring new start-ups. The top players are currently focusing on increasing their technological capacity while also expanding their geographical boundaries. Players are constantly investing in the development of sophisticated technology products to acquire a competitive advantage over others in the market, which is projected to fuel the growth of the healthcare cyber security market. For instance, in November 2021, IBM announced the acquisition of ReaQta, a Dutch cyber security threat detection and response business, to expand its cyber security and response capabilities. 'Johnson Controls International PLC', 'Honeywell International Inc.', 'Siemens AG', 'Bosch Security Systems', 'ADT Inc.', 'Axis Communications AB', 'Stanley Black & Decker, Inc.', 'Hikvision Digital Technology Co., Ltd.', 'Allied Universal Corporation', 'G4S plc', 'Tyco Integrated Security LLC', 'Schneider Electric SE', 'Securitas AB', 'Avigilon Corporation', 'Nedap N.V.', 'Pelco, Inc.', 'Salient Systems Corporation', 'FLIR Systems, Inc.', 'Genetec Inc.', 'Verint Systems Inc.'

The rise in cyber-threat vectors and attacks as a result of inadequate security measures is a major issue for the healthcare industry, and it is expected to drive up adoption of security solutions. This has aided in the establishment of supportive government laws and regulations to protect patient information from data breaches, thereby rewarding healthcare providers who use advanced cyber security solutions to secure their healthcare data. The United States government, for example, enacted "the Health Insurance Portability and Accountability Act (HIPAA)" to encourage healthcare organizations to keep patient data private and confidential. These factors will drive the hospital security market to grow in the coming years.

The growing number of data breaches in the business fuels the market for hospital security. According to IBM's Cost of a Data Breach Report issued in 2021, the average cost of data breaches in the healthcare industry in 2021 was USD 9.23 million. In addition, the Secretary of the United States Department of Health and Human Services (HHS) Breach of Unsecured Protected Health Information List listed approximately 592 breaches of unsecured protected patient data that affected more than 500 individuals in the previous two years and are being investigated by the Office for Civil Rights.

North America dominates more than one-third of the hospital security systems industry. In this area, the revenue for the hospital security systems market is significant. The United States is the region's largest contributor, with top leaders. The presence of significant players and the rising use of security in healthcare organisations are the primary contributors to market growth. The industry is being fuelled by increased expenditure in security and technological progress. Furthermore, market expansion is attributed to better healthcare infrastructure. In addition, the release of novel devices to protect data in the healthcare business is adding to market growth.

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Global Hospital Security Systems Market

Report ID: SQSG20O2002

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