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Cyber Security in Healthcare Market Size, Share, Growth Analysis Report By Type of Solution (Identity and Access Management, Risk and Compliance Management, Antivirus and Antimalware, DDoS Mitigation, Security Information and Event Management, Intrusion Detection System/ Intrusion Prevention System and Others), By Type of Threat (Malware, DDoS, Advanced Persistent Threat, Spyware, Lost or Stolen Devices and Others), By End-Use (Pharma & Chemicals, Medical Devices, Health Insurance, Hospitals and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028

Covid-19

Global Cyber Security in Healthcare Market Size, Share

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Insights

[203+ Pages Report] According to Facts and Factors, the global cyber security in the healthcare market size was worth around USD 12.3 billion in 2021 and is estimated to grow to about USD 32.9 billion by 2028, with a compound annual growth rate (CAGR) of approximately 17.80% over the forecast period. The report analyzes the cyber security in the healthcare market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in cyber security in the healthcare market.

logoMarket Overview

Healthcare cybersecurity has grown in significance. Many healthcare businesses have battled to secure their network infrastructure and perimeter to deter attackers, as cyber dangers have been steadily increasing in recent years. Healthcare cybersecurity firms provide cyber security services and solutions to healthcare businesses to secure their hospitals and patient data from cyber-attacks and data breaches. The practice of preserving the confidentiality, integrity, and availability of data is known as cybersecurity and information security. Cybersecurity is a risk management strategy, software, and technology designed to safeguard networks, devices, healthcare data, and programs from data theft, digital attacks, and unauthorized access.

The cyber peace institute stated in November 2021 that there were more than 11 million data breaches worldwide in the healthcare sector during the pandemic. In the healthcare industry, for example, the average data breach cost in 2021 was USD 9.23 million, according to IBM's cost of a data breach report published in 2021. Such incidents increase the need for global cyber security in the healthcare market in the years to come. Rising privacy and security concerns increased adoption of advanced cyber security solutions, and increased cyber-attacks are some factors driving the market. 

logoCOVID-19 Impact:

COVID-19 had a favorable effect on cyber security in the healthcare market. Cyberattacks on digital healthcare platforms, clinical testing databases and apps, medical diagnostic systems, and advanced healthcare gadgets have escalated due to the COVID-19 epidemic. As technology becomes more pervasive in the healthcare sector, the threat to cyber security has also grown. Users who utilize personal technology and residential internet connections without cyber security may be vulnerable to hostile attacks as the healthcare business employs remote modes. The increasing frequency of data breach instances has sparked doubts about the value of cyber security. The COVID-19 phishing pandemic further increased the need for cyber security in the healthcare sector.

logoKey Insights

  • As per the analysis shared by our research analyst, the global cyber security in the healthcare market will grow at a CAGR of 17.80% over the forecast period. 
  • In terms of value, the global healthcare market was valued at around USD 12.3 billion in 2021 and is projected to reach 32.9 billion by 2028.
  • Rising privacy and security concerns increased adoption of advanced cyber security solutions, and increased cyber-attacks are some factors driving the market. 
  • By type of threat, the malware segment dominated the market in 2021.
  • By end users, the hospitals segment dominated the market in 2021.
  • North America dominated the global cyber security in the healthcare market in 2021.

logo Growth Drivers

  • Increased number of cyber-attacks and regulatory policies likely to pave the way for global market growth 

The healthcare sector, expected to promote security solutions, is highly concerned about the increase in cyber-threat vectors and attacks caused by insufficient security measures. Healthcare providers are being encouraged to utilize advanced cyber security solutions to protect their healthcare data since the deployment of supporting government laws and actions to protect patient information from data breaches has been made possible. These elements support the expansion of the healthcare cyber security market in the ensuing years.

logo Restraints

  • Lack of awareness regarding healthcare cybersecurity may hamper the global market growth.

Lack of awareness regarding healthcare cybersecurity in developing nations, a lack of educated professionals in the IT sector, and the high prices associated with healthcare cybersecurity software in developing countries are all impeding market growth. Decreasing government backing in some nations is gradually reducing market demand. Cybersecurity management necessitates a large number of skilled experts and personnel. This market is concerned about a lack of experienced trainers and staff.

logo Opportunities

  • The surging adoption of IoT brings up several growth opportunities

It is anticipated that the growing implementation of technologies like IoT and machine learning in healthcare will accelerate market expansion during the projected period. Due to the multiple advantages IoT solutions and ML provide, healthcare businesses are now progressively choosing them. With the aid of data gathered from sensors and other devices, IoT technology enables remote patient monitoring, which facilitates the generation of initial insights into various medical conditions.

logoSegmentation Analysis

The global cyber security in the healthcare market is segregated based on the type of Solution, type of threat, end use, and region.

The market is divided into identity and access management, risk and compliance management, antivirus and antimalware, DDoS mitigation, security information and event management, intrusion detection system/ intrusion prevention system and others. Among these, the antivirus and antimalware scan segment dominated the market in 2021. For each type of hazard, different solutions have been created. This segment dominates because of the increased use of such solutions. It is due to an increase in the number of malware assaults in the healthcare business, causing networks to go down and disrupting patient care.

By type of threat, the market is divided into malware, DDoS, advanced persistent threat, spyware, lost or stolen devices and others. Over the forecast period, the malware segment will dominate the market in 2021. There are numerous difficulties with cyber security in the healthcare sector. It consists of malware that jeopardizes patient privacy and system integrity and distributed denial of service (DDoS) assaults that impair healthcare professionals' capacity to deliver high-quality patient care. 

By end-use, the market is divided into pharma & chemicals, medical devices, health insurance, and hospitals. Over the forecast period, the hospital's segment dominated the market in 2021. Hospitals are highly vulnerable to cyber-attacks because they keep massive amounts of patient data. Furthermore, these attacks increase during the epidemic, endangering private data and patient care. It will make greater use of cyber security.

logoReport Scope

Report Attribute

Details

Market Size in 2021

USD 12.3 Billion

Projected Market Size in 2028

USD 32.9 Billion

CAGR Growth Rate

17.80% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Cisco, IBM, FireEye, Symantec, Intel, Kaspersky, Lockheed Martin, Northrop Grumman, Trend Micro, MacAfee, and Others

Key Segment

By Type of Solution, Type of Threat, End-use, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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logoRecent Developments:

  • In December 2021 - HHS developed a website for the 405(d) program, a task group dedicated to coordinating healthcare cybersecurity policies throughout the industry. The program's homepage offered resources, videos, products, and tools to help increase awareness and encourage cybersecurity best practices, with the motto "cyber safety equals patient safety.
  • In 2019 - Mediagate expanded its clinical IoT and general IO T medical device offerings. To protect against cyber assaults, accurate and complete medical device management is required.

logoRegional Landscape

  • Rising investment in technology advancement and cyber security will likely help North America dominate the global market.

North America dominated cyber security in the healthcare market in 2021. The existence of major companies and the rising use of cyber security by healthcare organizations are the main contributing factors to market growth. The market is being propelled forward by increased technological advancement and cyber security investment. Another aspect is the expansion of the healthcare industry's infrastructure. Innovative devices to protect patient data in the healthcare sector boost market growth. Adopting electronic health records (EHRs), wireless medical equipment, and telemedicine are other factors contributing to the market's expansion. 

logoCompetitive Landscape 

Key players within the global cyber security in healthcare market include 

  • Cisco 
  • IBM 
  • FireEye 
  • Symantec 
  • Intel 
  • Kaspersky 
  • Lockheed Martin 
  • Northrop Grumman 
  • Trend Micro 
  • MacAfee 

Global Cyber Security in Healthcare Market is segmented as follows:

logoBy Type of Solution 

  • Identity and Access Management
  • Risk and Compliance Management
  • Antivirus and Antimalware
  • DDoS Mitigation
  • Security Information and Event Management
  • Intrusion Detection System/ Intrusion Prevention System
  • Others

logoBy Type of Threat 

  • Malware
  • DDoS
  • Advanced Persistent Threat
  • Spyware
  • Lost or Stolen Devices
  • Others

logoBy End-use 

  • Pharma & Chemicals
  • Medical Devices
  • Health Insurance
  • Hospitals
  • Others

logoBy Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Covid-19

Cyber Security in Healthcare Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • Cisco 
  • IBM 
  • FireEye 
  • Symantec 
  • Intel 
  • Kaspersky 
  • Lockheed Martin 
  • Northrop Grumman 
  • Trend Micro 
  • MacAfee 

Frequently Asked Questions

Rising privacy and security concerns, increased adoption of advanced cyber security solutions, and increased cyberattacks are some factors driving the market. The market is anticipated to grow throughout the projection period due to various factors, including the increasing uptake of cloud-based healthcare solutions, connected devices and smartphones, and 5G technology.
According to the report, the global cyber security in the healthcare market was worth about 12.3(USD billion) in 2021and is predicted to grow to around 32.9(USD billion) by 2028, with a compound annual growth rate (CAGR) of approximately17.80%.
North America dominated the cyber security in the healthcare market in 2021. The existence of major companies and the rising use of cyber security by healthcare organizations are the main contributing factors to market growth. The industry is fueled by the increasing investment in technology advancement and cyber security.
Some of the main competitors dominating the global cyber security in the healthcare market include –Cisco, IBM; FireEye; Symantec; Intel; Kaspersky; Lockheed Martin; Northrop Grumman; Trend Micro and MacAfee.
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