Global Cyber Security in Healthcare Market is Likely to Grow at a CAGR Value of 17.80% By 2028

08-Aug-2022 | Facts and Factors

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.

Global Cyber Security in Healthcare Market Size

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The cyber threat to the healthcare business has grown significantly, as has the sophistication of cyberattacks. Both business and government understand this new era. With each advancement in automation, interoperability, and data analytics, the susceptibility to hostile intrusions grows. Cyberattacks are of particular concern in the health industry because they can endanger not just the security of systems and information but also the health and safety of people. Owing to the rise in demand for cyber security in healthcare, the global cyber security in the healthcare market is estimated to grow at a CAGR of 17.80% during the forecast period.

Browse the full “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" report at https://www.fnfresearch.com/cyber-security-in-healthcare-market

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. As IoT devices enhance patient care and pose security issues, there is an increasing demand for advanced healthcare cyber security solutions. The market for cyber security in healthcare is fuelled by the industry's rising data breaches.

Segmental Overview

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

Based on the type of solution, 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 scans segment dominated the market in 2021. Based on the 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.

Based on 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.

Regional Overview

The global cyber security in the healthcare market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America dominated the global cyber security in the healthcare market in 2021. The main drivers of market expansion are the presence of large corporations and healthcare organizations' growing usage of cyber security. The industry is being stimulated by increased spending on cyber security and technology development. Another factor is the expansion of the infrastructure supporting the healthcare sector. Launching innovative devices to safeguard patient data in the healthcare industry promotes market growth. The market is growing due to the deployment of electronic health records (EHRs), wireless medical equipment, and telemedicine. The region's rising cyberattacks would spur market expansion during the projection period.

Report 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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Competitive Landscape

The report contains qualitative and quantitative research on the global cyber security in the healthcare market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.

Key players functioning in the global cyber security in the healthcare market include Cisco, IBM; FireEye; Symantec; Intel; Kaspersky; Lockheed Martin; Northrop Grumman; Trend Micro and MacAfee.

Recent developments:

  • In November 2021, ReaQta, a Dutch cyber security threat detection and response startup was purchased by IBM as part of a plan to increase its cyber security and response capabilities.
  • In February 2020, GE Healthcare has launched a new cybersecurity service offering that combines medical device knowledge, artificial intelligence, and process management solutions to assist hospital groups in combating cyber threats. Skeye is a novel technology that augments hospitals' existing resources and capabilities by providing proactive monitoring via a remote security operations center (SOC), allowing them to notice, evaluate, and react to cybersecurity events and threats in real-time.

Global Cyber Security in Healthcare Market is segmented as follows:

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

By Type of Threat 

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

By End-use 

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

By 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

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