Healthcare Cyber Security Market Size is expected to register a CAGR of 11.82% during the forecast period, with a market value of USD 16,393.15 Million till 2025.
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 primary vital factors driving the market growth are the increasing cyberattacks in the healthcare industry, regulatory and government norms to protect patient data, and the growing implementation of mobile device applications and platforms and increased use of Internet of things (IoT) devices in the healthcare sector. However, factors such as lack of adoption of updated software and limited awareness about cybersecurity healthcare are likely to hamper the market growth during the forecast period.
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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.
The Global Healthcare Cyber 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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MRFR recognizes the following companies as the Key Players in the Global Healthcare Cyber Security Market—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).
Key Findings of the Study
- The Global Healthcare Cyber Security Market was valued at USD 3,032.89 Million in 2018, is estimated to grow at USD 6,320.10 Million by 2025 at a CAGR of 11.82% during the assessment period.
- America accounted for the largest share of the global market due to the presence of a large number of IT companies such as IBM, Cisco Systems, Inc., Symantec Corporation, and others offering cybersecurity software.
- Based on solution types, the antivirus and antimalware segment accounted for the largest market share in 2018.
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