Ron Clarkson, Trend Micro's vice president, mobility, told iTWire the dramatic increase was a direct result of the growing popularity of portable devices, at the expense of PCs.
"The bad guys are businesses just like any other. They look at the market and what is growing and what is shrinking and they see that the Android user base is growing and the PC user base is shrinking."
He added that the surge in Android malware was in part due to the fact that iOS, thanks to Apple's tightly controlled ecosystem, is much less vulnerable, driving malware writers onto Android as PC users move to either iOS or Android.
Clarkson, however, pointed out that the open nature of the Android ecosystem had created huge opportunities for creativity, but at the same time made it even more vulnerable.
"Google produces the operating system. Then they hand it over to the hardware provider, who changes it a bit, adding their own software, which introduces more vulnerability. Then the hand it over to the service provider who adds their software and creates even more vulnerabilities."
Compounding the problem is the fact that only 20 percent of Android users have any sort of antivirus software installed. And Clarkson does not see the situation changing to the point that, as with Windows, there will be widespread recognition of the need for antivirus software on Android devices, leading to almost universal installation.
"The traditional method has been to charge for the [antivirus] software, but we are looking to move beyond that," Clarkson said.
"The entire supply chain is looking at how we can secure this eco system in a way that the business can support itself. In some markets users are willing to pay for antivirus, in others the just are not.
"We are looking at different ways to monetise our security software: at partnering with the telco service providers, the app store providers, at ad revenue."
"The service providers are going to have to figure out how to secure their networks, to put security in the cloud rather than on the device. It gives them the opportunity to differentiate themselves and say 'our network is safe'."
Furthermore, he predicts that pursuit of device security will be pursuit of a moving target. "Within two to three years there will be some new OS that will take the market by storm."