Healthcare Cyber Security Market
Healthcare cybersecurity has been growing at a rapid pace over the last
few years. Cyberattacks in the healthcare industry is one of the primary
factors causing a significant loss to the industry. In the last few years,
hacking into information and information technology (IT) security breaches have
risen at a steady rate, and many healthcare organizations have struggled to
prevent their data from cybercrime.
The Healthcare Cyber Security Market
is expected to grow at CAGR of 17.3% to reach USD 55.7 Billion by 2030.
Healthcare Cyber Security Growth Boosters
The global healthcare cybersecurity market is estimated to put a strong
foundation of propelling growth on the increasing need for network security, a
type of IT security widely sought by healthcare organizations. Access control
and distributed denial-of-service (DDoS) mitigation are some of the extremely
sophisticated types of network security solutions that ensure esteem
protection.
Interestingly, the end-user expenditure on the healthcare cybersecurity
market is prognosticated to continue seeing an ascend owing to its mounting
awareness. In the year 2016, network security displayed a maximum performance
in the market. Other types of security, such as cloud, wireless, and
application, could also contribute to the overall growth in the future.
While cyber-attacks are prophesied to be amongst the crucial drivers of
growth in the global healthcare cybersecurity market, data breaches could be in
the run. An escalating count of healthcare institutions is also expected to
take to cybersecurity solutions to protect patients and their data as well. The
implementation of connecting medical devices and digital medical record systems
coupled with the surging practice of tablets, laptops, Smartphones, and other
devices is foretold to set the tone for a valuable demand in the market.
As observed, in the current time, cybersecurity technologies and
solutions are evolving owing to the changing threat landscape, where threats
are becoming smarter and destructive. In today’s connected health environment,
cybersecurity is no longer an option or afterthought, whereas it is a powerful
strategic asset that is being addressed by every organization.
Furthermore, some of the other key factors driving the healthcare
security market are the escalating cyber-attack threat. Recent estimates by
MRFR suggest that in the period from 2010 to 2014, approximately 37 million
healthcare records were compromised in data breaches. Moreover, mount in patent
infringement cases, medical identity fraud, business records, and loss of
patient health records is expected to boost the healthcare cybersecurity market
during the forecast period.
On the contrary, the factor of lack of awareness about cybersecurity
related to the healthcare industry would act as a limiting factor, thereby
hampering the growth of the healthcare cybersecurity market.
Major Key
Players:
MRFR recognizes the following Healthcare
Cyber Security Market Players are —Cisco Systems, Inc.
(US), IBM (US), McAfee, LLC (Canada), Symantec Corporation (US), FireEye, Inc.
(US), Palo Alto Networks, Inc. (US), DXC Technology Company (US), Trend Micro
Incorporated (Japan), Booz Allen Hamilton Inc. (US), and SENSATO CYBERSECURITY
SOLUTIONS (US).
Segment Analysis
The Global Healthcare Cyber Security Market has been
segmented into threat type, solution type, and end user. By threat type, the
market has been segmented into distributed denial-of-service (DDOS), malware,
advanced persistent threat (APT), and others. Based on solution type, the
global healthcare cybersecurity market has been segregated into risk and
compliance management, antivirus and antimalware, security information and
event management (SIEM), DDOS mitigation, identity and access management, and
others.
Regional Analysis
The Global Healthcare IT Security
Market, based on region, has been divided into the Americas, Europe,
Asia-Pacific, and the Middle East & Africa.
The Americas are expected to hold
the largest share of the global healthcare cybersecurity market. This is owing
to the increasing case of data breaching, rising cyberattacks on pharmaceutical
companies, and healthcare facilities are boosting the market growth in this
region.
The Europe market holds the
second-largest position in the global healthcare cybersecurity market due to
the high spending on healthcare IT, the presence of a large number of
pharmaceutical companies, and innovation of new software to protect the
healthcare data boosts the market growth in this region.
Asia-Pacific is estimated to be
the fastest-growing region owing to the rapid development in technology, and
the presence of enormous opportunities for the development of the market drives
the growth of the Asia-Pacific healthcare cybersecurity market.
The healthcare cybersecurity
market in the Middle East & Africa accounts for the least market share due
to the adequate healthcare infrastructure support accounted for a relatively
smaller market share in 2018.
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