Healthcare Cybersecurity Market Size & Share to Surpass $15.25 Bn by 2028 | Vantage Market Research

| Source: Vantage Market Research Vantage Market Research

WASHINGTON, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Healthcare Cybersecurity Market is expected to witness market growth at a rate of 18.1% in the forecast period of 2022 to 2028 and is expected to reach USD 15.25 Billion by 2028.

The report provides extensive analysis of the Healthcare Cybersecurity market covering trends, industry investment opportunities, growth trends, statistics, and industry outlook. The report offers a comprehensive analysis of the industry, including information on company size, trends, analysis, demand, statistics and overview. The report also includes regional and competitive analysis of the industry.

The research report aims to provide reliable and useful information and data of the Healthcare Cybersecurity industry in global markets, thus helping business leaders, investors, small businesses and others to gain business intelligence from around the world.

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List of Prominent Players in the IoT in Healthcare Market:

  • Cisco Systems Inc. (US)
  • IBM Corporation (US)
  • Kaspersky Labs Inc (Russia)
  • Broadcom Inc. (US)
  • McAfee Inc. (US)

What is Healthcare Cybersecurity? What will be the Valuation of the Global Healthcare Cybersecurity Market by 2028?

Market Dynamics:

Driver: Integration of Cloud Computation to Stimulate Market Growth

The integration of cloud computing is anticipated to augment the market in the forecast period. This is attributable to the increasing benefits in the healthcare domain like economic, operational and functional advantages due to the rise in aging populations, the increasing prevalence of chronic diseases and comorbidities. The economic benefits of cloud computing include cost flexibility and the potential to reduce the healthcare costs. In case of operational perspective, cloud computing services and solutions provide scalability and the ability to adjust to the current demand. These services also offer better security and privacy for health data and health systems, security controls, including data encryption. The functional advantages include broad interoperability and integration. Since the cloud services are services are internet-based, connecting them to other systems is becomes easy as well as safe. These cloud solutions deliver consistent and reliable authentication and encryption protocols to the establishments and keep the data secured which is further augmenting the growth of the market.

Driver: Surging Adoption of IoT to Drive the Market Growth

The increase in adoption of technologies like IoT and machine learning in healthcare is anticipated to augment the growth of the global Healthcare Cybersecurity Market during the forecast period. The healthcare organizations are now gradually opting for IoT solutions and ML due to the numerous benefits it offers. The IoT tech helps in remote patient monitoring with help of the data collected using sensors and other devices which further helps in driving primary insights related to various healthcare disorders. However, shortage of cyber-security professionals and frequently changing nature of cyber-attacks may hamper the growth of the market in near future. Moreover, the increase in government initiatives for promoting digital health and evolution of next-generation cyber security solutions will further support the growth of the market.

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Key Findings:

  • Under the type segment, antivirus and antimalware sub-segment are anticipated to dominate the segment for Healthcare Cybersecurity Market and grow at a substantial Compound Annual Growth Rate (CAGR). The growth is attributed to the usage of such solutions owing to a surge in the number of malware attacks in the healthcare industry.
  • Hospital sub-segment held a market significant share in 2021 for an end-use segment for Healthcare Cybersecurity Market. As hospitals stores, an incredible amount of patient data, the increasing use of cyber security owing to high probabilities of cyberattack is driving the segment.
  • North America is the largest regional segment. This is due to, the presence of key players and the increased application of cyber security in healthcare organizations in the region.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

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The report on IoT in Healthcare Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

North America Dominates the Global Healthcare Cybersecurity Market

North America held largest market share in 2021. The U.S. held the largest market share in North America in 2021. This is attributable to the growing adoption of healthcare IT solutions and presence of highly developed medical and healthcare infrastructure in the region. Furthermore, increasing investment in cyber security and presence of key players is likely to support the regional growth of the market. Asia Pacific is expected to grow at a significant CAGR in global Healthcare Cybersecurity Market and is likely to continue the same trend during the forecast period. This is attributable to the increasing demand of healthcare services in emerging economies like China, India, South Korea, and Taiwan in the region. Additionally, the increasing population along with rise in penetration of the internet in the healthcare industry is also expected to support the growth of the market in near future.

The investment made in the study would provide you access to information such as:

  • Healthcare Cybersecurity Market [Global – Broken down into regions]
  • Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
  • Country-wise Market Size Split [of important countries with major market share]
  • Market Share and Revenue/Sales by leading players
  • Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc. Market Size)
  • Market Size by application/industry verticals
  • Market Projections/Forecast

Browse market data Tables and Figures spread through 156 Pages and in-depth TOC on Healthcare Cybersecurity Market Forecast Report (2022-2028).

Recent Developments:

December, 2021: HHS launched a website for the 405(d) Program, which is comprised of a task force focused on aligning healthcare cybersecurity approaches across the sector. The program aims to uphold the motto that “cyber safety is patient safety,” and its website contained resources, videos, products, and tools to help raise awareness and promote cybersecurity best practices.

February, 2020: GE Healthcare introduced a new cybersecurity service offering that brings together medical device expertise, artificial intelligence and process management tools to help hospital groups in their fight against cybersecurity threats. The new solution, called Skeye, augments hospitals’ existing resources and capabilities by providing proactive monitoring through a remote security operations center (SOC) – helping them detect, analyze and respond to cybersecurity threats and events in real time.

Questions Answered in This Report:

  • What is the size and CAGR of the market during the forecast period?
  • What are some of the other regions that are rising at promising CAGR, and how will the burgeoning demand for Healthcare Cybersecurity Market fare up in the forecast years?
  • Who are the leading vendors in the market, and what are their market shares?
  • Which will gain more traction among brands? And what will be the key trends influencing this dynamic?
  • What are some of the game-changing strategies likely to be adopted by players that will considerably change the course of the market?
  • What are projections of the Healthcare Cybersecurity Market industry considering capacity, production, and production value?
  • How is the growing demand impacting the growth of market shares?

Scope of the Report:

Report AttributesDetails
Market Size in 2021USD 11.17 Billion
Revenue Forecast by 2028   USD 15.25 Billion
CAGR18.1% from 2022 to 2028
Base Year2021 
Forecast Year2022 to 2028
Key Players• Cisco Systems Inc. (US)

• IBM Corporation (US)

• Kaspersky Labs Inc (Russia)

• Broadcom Inc. (US)

• McAfee Inc. (US)

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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