The global market report on the healthcare cyber security market predicts a steady rise by 11.82% CAGR during the forecast period of 2019 to 2025 to a valuation of USD 16,393.15 million. Market Research Future (MRFR) reveals several factors that can impact the growth and provide a deeper look into the market.
The inclusion of AI in the system, cloud technology, and others are making the digitalization of the healthcare industry a much-needed endeavour. However, this is also spurring the demand for cyber security. In fact, the idea of telemedicine is also making the healthcare system susceptible to various online threats from hackers. But the process is needed to ensure a smooth workflow with faster outcomes. That is why various governing bodies are relying on healthcare cyber security systems for seamless operations.
On the flip side, the system's initial installation cost is high due to which in developing and developed countries, the healthcare cyber security market may get affected.
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Competitive Landscape:
McAfee, LLC (Canada), IBM (US), Cisco Systems, Inc. (US), FireEye, Inc. (US), Symantec Corporation (US), SENSATO CYBERSECURITY SOLUTIONS (US), Palo Alto Networks, Inc. (US), DXC Technology Company (US), Trend Micro Incorporated (Japan), and Booz Allen Hamilton Inc. (US) are some of the major companies to make decent moves in the global healthcare cyber security market. These companies influence the market with moves that include merger, tie-up, innovation, investment in development, research, and others. Their recent activities have been noted by MRFR to ensure the market gets proper attention.
Market Segmentation
The global market for healthcare cyber security has been segmented into threat type, solution type, and end-user.
- Based on Threat Type, the global market for healthcare cyber security has been segmented into distributed denial-of-service (DDOS), malware, advanced persistent threat (APT), and others.
- Based on the Solution type, the global market for healthcare cyber security has been categorized as antivirus and antimalware, DDOS mitigation, security information and event management (SIEM), risk and compliance management, identity and access management, and others.
- Based on the End-user, the global healthcare cyber security market has been segmented into hospitals and clinics, health insurance companies, pharmaceuticals and biotechnology industries, medical devices companies, others.
Regional Analysis
Regionally, the global healthcare cyber security market has been divided into the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas are predicted to hold the largest share of the global market for healthcare cyber security. The growth of the Americas can be ascribed to the increasing number of data breaches, and the availability of advanced healthcare information technology (IT) solutions. As per the HIPAA Report, the number of reported health data violations has gradually risen every year. In 2018, 365 health data breaches were reported, almost 2% from 358 data breaches reported in 2017.
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Europe is expected to have the second-largest market share in the forecast period. The emergence of highly developed medical and healthcare infrastructure and high healthcare IT expenditure drives the market growth in this region.
The Asia Pacific is anticipated to be the fastest-growing market due to rapid technological advances. The emergence of enormous market development opportunities is driving the growth of the Asia Pacific market for healthcare cyber security.
The Middle East & Africa is projected to rise at a steady pace in the healthcare cyber security market due to factors such as increased capita income and increased funding for healthcare infrastructure.
