Mentions of cybersecurity increased by a CAGR of 37% in the medical device industry since 2020

The global medical device industry experienced a 37% increase in compound annual growth rate (CAGR) in company filings mentions of cybersecurity since 2020. Key companies in terms of mentions include DexCom, Boston Scientific, and Personalis, according to GlobalData’s analysis of over 2,500 medical device company filings.  

Notably, since 2020, cybersecurity was the most referenced theme in terms of mentions, ahead of big data, digitalisation and cloud, according to GlobalData's Company Filings database. Mentions related to cybersecurity increased by 43% year-on-year in 2021 and by 31% year-on-year in 2022.  

Of the 50 leading companies in the medical device industry, Fresenius Medical Care had the highest year-on-year increase in references to cybersecurity in 2022. GlobalData identified 117 cybersecurity related sentences in the company's filings in 2022, 2% of all sentences. Meanwhile, BioNano Genomics had the highest year-on-year increase in references for cybersecurity in 2021. GlobalData identified 92 cybersecurity related sentences in the company's filings in 2021, 2% of all sentences.

GlobalData’s Company Filings Analytics also applies a sentiment weight to reference sentences, based on how positive the sentiment has turned. Sentiment score is based on the level of positivity on a scale of 0 to 1. The average sentiment score for cybersecurity in 2022 was 0.19, which was less positive compared to the average industry sentiment of 0.53.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article. 

Global Data’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.