[203+ Pages Research Study] According to a market research study published by Facts and Factors, the demand analysis of Global Cyber Security in Healthcare Market size & share revenue is estimated to grow about USD 32.9 billion by 2028, at a CAGR of approximately 17.80% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are Cisco, IBM, FireEye, Symantec, Intel, Kaspersky, Lockheed Martin, Northrop Grumman, Trend Micro, MacAfee, and Others.
NEW YORK, United States, Aug. 16, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “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” in its research database.
“According to the latest research study, the demand of global Cyber Security in Healthcare Market size& share in terms of revenuewas valued at USD 12.3 billion in 2021 and it is expected to surpass around USD 32.9 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 17.80% during the forecast period 2022 to 2028.”
What is Cyber Security in Healthcare? How big is the Cyber Security in Healthcare Industry?
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.
More than 11 million healthcare data breaches were reported worldwide during the pandemic, according to the Cyber Peace Institute in November 2021. IBM issued their cost of a data breach report in 2021, and it found that the average cost of a data breach in the healthcare business was USD 9.23 million. These kinds of attacks highlight the growing need for worldwide healthcare cyber security in the future. The market is being propelled by a number of factors, including rising worries about privacy and security, the growing use of cutting-edge cybersecurity solutions, and an increase in cyberattacks.
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Global Cyber Security in Healthcare Market: Growth Factors
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.
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.
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Cyber Security in Healthcare Market: COVID-19 Impact Analysis
The implementation of COVID-19 improved the level of cyber security within the healthcare industry. As a result of the COVID-19 epidemic, there has been an increase in the number of cyberattacks launched against digital healthcare platforms, clinical testing databases and apps, medical diagnostic systems, and cutting-edge healthcare technology. In tandem with the increased use of technology in the healthcare industry, the number of potential vulnerabilities in terms of cyber security has also increased. Because the healthcare industry increasingly uses remote modes of operation, users who rely on personal equipment and internet connections from their homes without employing any form of cyber protection may leave themselves open to malicious assaults. Concerns about the relevancy of investing in cyber security have been stoked by the growing number of incidents of data breaches. The widespread COVID-19 phishing attack showed that the healthcare industry needs to improve its cybersecurity even more.
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.
The global Cyber Security in Healthcare market is segmented as follows:
Type of Solution
Identity and Access Management
Risk and Compliance Management
Antivirus and Antimalware
Security Information and Event Management
Intrusion Detection System/ Intrusion Prevention System
By Type of Threat
Advanced Persistent Threat
Lost or Stolen Devices
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The report includes both qualitative and quantitative research on the global market for cyber security in healthcare, in addition to in-depth insights and development strategies utilized by the most prominent competitors. The research also includes an in-depth analysis of the primary rivals in the market, as well as information regarding the level of competition posed by those companies. The research also identifies and analyses significant business tactics utilized by these primary market participants. Some examples of these strategies are mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main competitors dominating the global Cyber Security in Healthcare market include -
Key Insights from Primary Research:
According to the analysis shared by our research forecaster, the Cyber Security in Healthcare market is likely to expand at a CAGR of around 17.80% during the forecast period (2022-2028).
In terms of revenue, the Cyber Security in Healthcare market size was valued at around US$ 12.3 billion in 2021 and is projected to reach US$ 32.9 billion by 2028.
By type of threat, malware will rule the industry in 2021.
In 2021, the antivirus and antimalware scan segments dominated, by type of solution.
On the basis of region, North America led healthcare cyber security in 2021.
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Key questions answered in this report:
What is the market size and growth rate forecast for Cyber Security in Healthcare industry?
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Market Size & Forecast by Revenue | 2022−2028
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Type of Solution, Type of Threat, End-use, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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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.
Rest of North America
Rest of Europe
Rest of Asia Pacific
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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.
Market Size in 2021
USD 12.3 Billion
Projected Market Size in 2028
USD 32.9 Billion
CAGR Growth Rate
Key Market Players
Cisco, IBM, FireEye, Symantec, Intel, Kaspersky, Lockheed Martin, Northrop Grumman, Trend Micro, MacAfee, and Others
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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