WASHINGTON, April 04, 2023 (GLOBE NEWSWIRE) -- Global Healthcare Cybersecurity Market is valued at USD 11.17 Billion in 2021 and is projected to reach a value of USD 15.25 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 18.1% over the forecast period 2022-2028.
Market Overview
The healthcare cybersecurity market refers to the use of technology and services to protect sensitive patient information, electronic health records (EHRs), and other healthcare data from unauthorized access, theft, and breaches. As healthcare providers increasingly rely on technology to store and manage patient information, the need for robust cybersecurity solutions has become critical.
The healthcare cybersecurity market is growing at a rapid pace due to the increasing number of cyber-attacks on healthcare organizations. These attacks can have a devastating impact on healthcare organizations, as they can lead to the loss of sensitive patient data, the disruption of healthcare services, and financial losses.
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Market Dynamics
The healthcare cybersecurity market is a complex and ever-changing landscape. The market is driven by a number of factors, including the increasing use of electronic health records (EHRs), the increasing use of connected medical devices, and the increasing sophistication of cyber-attacks.
The healthcare sector is a prime target for cyber-attacks due to the sensitive nature of the data that it stores. EHRs contain a wealth of personal information about patients, including their names, addresses, Social Security numbers, and medical conditions. This information is valuable to cyber-criminals, who can use it to commit identity theft, fraud, and other crimes.
Connected medical devices are also a target for cyber-attacks. These devices are often connected to the internet, which makes them vulnerable to attack. Cyber-criminals can use these devices to steal patient data, to disrupt healthcare services, or even to harm patients.
The healthcare cybersecurity market is also being driven by the increasing sophistication of cyber-attacks. Cyber-attacks are becoming more sophisticated and more difficult to defend against. Cyber-attackers are using a variety of techniques to attack healthcare organizations, including phishing attacks, malware attacks, and denial-of-service attacks.
Top Players in the Global Healthcare Cybersecurity Market
- Cisco Systems Inc. (US)
- Kaspersky Labs Inc (Russia)
- Broadcom Inc. (US)
- IBM Corporation (US)
- McAfee Inc. (US).
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Key Challenges Facing the Healthcare Cybersecurity Market:
- The increasing sophistication of cyber-attacks.
- The lack of skilled cybersecurity professionals in the healthcare sector.
- The complex and ever-changing nature of the healthcare industry.
- The high cost of cybersecurity solutions.
Key Opportunities in the Healthcare Cybersecurity Market:
- The growing demand for healthcare cybersecurity solutions.
- The increasing investment in cybersecurity by healthcare organizations.
- The growing awareness of the importance of cybersecurity in the healthcare sector.
- The development of new and innovative cybersecurity solutions.
Top Report Findings
- The global healthcare cybersecurity market size was valued at USD 11.17 Billion in 2021 and is expected to grow at a CAGR of 18.1 % from 2022 to 2028.
- The healthcare cybersecurity market is growing rapidly, driven by the increasing use of electronic health records (EHRs) and connected medical devices.
- The healthcare sector is a prime target for cyber-attacks, as it stores a wealth of sensitive patient data.
- Cyber-attacks on healthcare organizations can have a devastating impact, leading to the loss of patient data, the disruption of healthcare services, and financial losses.
- Healthcare organizations need to take steps to protect themselves from cyber-attacks, such as implementing strong security measures, training employees on cybersecurity best practices, and conducting regular security audits.
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Top Trends in Healthcare Cybersecurity Market
Increased focus on risk management: Healthcare organizations are increasingly adopting a risk-based approach to cybersecurity, focusing on identifying and mitigating potential threats and vulnerabilities.
Adoption of artificial intelligence (AI) and machine learning (ML): AI and ML are being used to enhance cybersecurity in healthcare by detecting and preventing cyber threats in real-time, as well as automating routine security tasks.
Rise of blockchain technology: Blockchain technology is being explored as a potential solution for secure data sharing in healthcare, with the potential to prevent data breaches and protect patient privacy.
Cybersecurity as a service: Many healthcare organizations are opting for cybersecurity as a service (CSaaS) solutions, which provide outsourced cybersecurity services and support, reducing the burden on in-house IT staff.
Employee cybersecurity training: Healthcare organizations are increasingly recognizing the importance of employee training in preventing cybersecurity incidents, including training on phishing awareness and other social engineering tactics.
Increased collaboration between healthcare and cybersecurity professionals: Collaboration between healthcare and cybersecurity professionals is increasing, with cybersecurity experts working alongside healthcare providers to develop effective cybersecurity strategies and solutions.
Growth of cyber insurance: The demand for cyber insurance is increasing in healthcare, with more healthcare organizations opting for cyber insurance policies to protect against financial losses associated with cybersecurity incidents.
Global Healthcare Cybersecurity Market Segmentation
By Solution
- Identity and Access Management
- Risk and Compliance Management
- Antivirus and Antimalwar
- DDoS Mitigation
- Security Information and Event Management
- Intrusion Detection System/ Intrusion Prevention System
- Others
By Threat
- Malware
- DDoS
- Advanced Persistent Threat
- Spyware
- Lost or Stolen Devices
- Others
By End User
- Pharmaceuticals and Biotechnology
- Health Insurance
- Hospitals,
- Other
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Browse market data Tables and Figures spread through 156 Pages and in-depth TOC on Healthcare Cybersecurity Market Forecast Report (2022-2028).
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 11.17 Billion |
| Revenue Forecast by 2028 | USD 15.25 Billion |
| CAGR | 18.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Cisco Systems Inc., IBM Corporation, Kaspersky Labs Inc, Broadcom Inc., McAfee Inc. |
| Customization Options | If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/healthcare-cybersecurity-market-1291/request-sample |
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Key Questions Answered in the Healthcare Cybersecurity Market Report:
- What is the current size and expected growth rate of the healthcare cybersecurity market?
- What are the key factors driving the growth of the healthcare cybersecurity market?
- What are the major challenges facing the healthcare cybersecurity market?
- What are the key cybersecurity solutions and services offered in the healthcare cybersecurity market?
- What are the major end-users of healthcare cybersecurity solutions?
- Which regions are expected to experience the highest growth in the healthcare cybersecurity market?
- Who are the major players in the healthcare cybersecurity market, and what are their market shares?
- What are the key trends shaping the healthcare cybersecurity market, and how are they likely to evolve in the future?
- What are the major regulatory frameworks governing healthcare cybersecurity, and how are they likely to impact the market?
- What are the major opportunities for growth and innovation in the healthcare cybersecurity market?
Regional Analysis
North America: North America is expected to be the largest market for healthcare cybersecurity due to the high adoption of digital healthcare solutions in the region. The United States is a major contributor to the market, with healthcare providers and payers investing heavily in cybersecurity solutions to protect patient data. The region is also home to several major players in the healthcare cybersecurity market.
Europe: Europe is expected to be the second-largest market for healthcare cybersecurity due to the increasing adoption of digital healthcare solutions in the region. The region is also subject to several regulations and guidelines related to data privacy and cybersecurity, which are driving the adoption of cybersecurity solutions in healthcare.
Asia-Pacific: The Asia-Pacific region is expected to be the fastest-growing market for healthcare cybersecurity due to the increasing adoption of digital healthcare solutions in countries such as China, India, and Japan. The region is also home to several emerging players in the healthcare cybersecurity market, which are expected to drive innovation and growth in the market.
Latin America: Latin America is expected to experience significant growth in the healthcare cybersecurity market due to increasing investments in healthcare IT infrastructure and the adoption of digital healthcare solutions in the region.
Middle East and Africa: The Middle East and Africa region is also expected to experience significant growth in the healthcare cybersecurity market due to increasing investments in healthcare IT infrastructure and the adoption of digital healthcare solutions. The region is also subject to several regulations related to data privacy and cybersecurity, which are driving the adoption of cybersecurity solutions in healthcare.
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