Global Healthcare Cyber Security Market by Solution Type (DDoS Mitigation,  Other Solution Types), By Threat Type (Malware, and Other Threat Types), By End-Use, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2022-2032

Report Overview

The global Healthcare Cyber Security market was worth USD 15.2 Bn in 2022. It is projected to grow at a CAGR of 17.1% and is expected to reach USD 70.8 Bn from 2023 to 2032. Cyber security is a method of managing risk and software that can prevent data theft and unauthorized access from hackers, devices, healthcare data, or programs. There are many advanced cybersecurity solutions for healthcare.

Cyber security companies specializing in healthcare provide solutions and services to protect hospitals and patients from cyber-attacks and data breaches. Protecting the confidentiality, integrity, or availability of data is called cybersecurity or information security.

The healthcare cyber security market will grow due to the rising adoption of cloud-based solutions for healthcare, the increased adoption of smartphones and connected devices, and the adoption of 5G technology. The market is driven by rising privacy and security concerns, increasing cyber-attacks, and greater adoption of advanced cybersecurity solutions.

The size of the healthcare cybersecurity market is supported by an increase in knowledge and budget. Additionally, the market expansion is being aided by an increasing number of government initiatives to safeguard personal information.

Additionally, the healthcare cybersecurity industry is anticipated to expand during the forecast period due to other factors, such as the growing use of smartphones and 5G technology as well as the expanding use of cloud-based solutions in the healthcare sector.

Drivers

Rising privacy, security concerns, and increasing cyber-attacks are driving the healthcare cybersecurity market.

There are potential risks in the healthcare sector due to the increased use of Internet of Medical Things devices. This has driven up demand for high-end healthcare cybersecurity solutions.

The market is driven by rising privacy and security concerns, increasing cyber-attacks, and greater adoption of advanced cybersecurity solutions. The market will also grow due to the rising adoption of cloud-based solutions for healthcare, the increased adoption of smartphones and connected devices, and the adoption of 5G technology.

In addition, the expansion of the healthcare cyber security market is aided by government and regulatory policies that encourage the improvement of healthcare industry security standards. For instance, the “Health Insurance Portability and Accountability Act (HIPAA)” was enacted by the United States government to encourage healthcare facilities to safeguard patient data. These elements contribute to the expanding size of the healthcare cybersecurity market in the coming years.

Restraints

The digital transformation in healthcare has led to an increase in cyber-attacks.

Cybercriminals are attracted to healthcare because medical data is ten times as lucrative as credit card or banking details. The digital transformation in healthcare has led to an increase in cyber-attacks. The high cost of implementing healthcare cybersecurity solutions market growth.

COVID-19 Impact Analysis

COVID-19 increased the market for cybersecurity healthcare

The healthcare cyber security market for cyber security for healthcare was helped by COVID-19. Cyberattacks on digital healthcare apps and platforms, medical diagnostic systems, advanced healthcare devices, and clinical testing databases have increased due to the COVID-19 outbreak.

However, cyber security threats have also risen as technology has become more ingrained in the healthcare sector. Users of personal equipment & home internet connections who lack cyber security may be vulnerable to malicious attacks as the healthcare industry adopts remote modes.

In addition, concerns regarding the significance of cyber security have been raised by the increasing number of data breaches. In addition, the explosion of COVID-19 phishing contributed to the healthcare industry’s demand for cyber security.

Companies in the healthcare cyber security market are putting in a lot of effort by adapting to a new reality and anticipating and planning for a variety of scenarios as the situation has been changing in unpredictable ways. Additionally, a number of major cybersecurity players see this crisis as an opportunity to restructure, reevaluate their current strategies, and expand their product portfolio.

Solution Type Analysis

Antimalware and antivirus dominated the healthcare cybersecurity market due to increased healthcare malware attacks.

Antimalware and antivirus dominated the healthcare cybersecurity market and represented a 27.2% revenue share in 2022. Many solutions can be used to combat these threats. Due to the increased use of these solutions, the antivirus and antimalware segments held the largest market share. This is due to increased healthcare malware attacks, which affect patient care and shut down networks.

Threats Type Analysis

Malware is a major cyber healthcare security threat that compromises patient privacy and system integrity.

Malware dominated the healthcare cybersecurity market in cyber healthcare security. It accounted for 28.3% of the total revenue share for 2022. There are many cybersecurity issues in the healthcare industry. This includes malware that compromises patient privacy and system integrity and Distributed Denial of Service attacks (DDoS), which disrupt providers’ ability to provide effective patient care.

Ransomware is the most popular malware type because hackers are well aware of it. Additionally, a higher compound annual growth rate (CAGR) is anticipated for the advanced persistence threat segment over the forecast period.

End-User Analysis

Hospitals store a lot of patient data, so they are highly vulnerable to cyber-attack

The hospital segment had the largest revenue share because hospitals store a lot of patient data, and they are highly vulnerable to cyber-attack. These attacks can also be used to attack private information and patient care. This will increase the use of cybersecurity. Black baud, a cloud computing firm, was hacked and exposed patient data from 46 hospitals and health systems.

It is observed that advertising spending increased over the next years following security breaches at hospitals. Hospitals can use this extra expense to repair their infrastructure and keep their patients happy, allowing them to compete with their market competitors. Implementing a better data security system in hospitals can reduce these costs.

In contrast to their rivals in the healthcare cyber security market, hospitals can rebuild their systems and keep their patients at this additional expense. Implementing a better data security system, which is estimated to drive spending on cyber security in hospitals, can avoid these costs to the healthcare system.

Key Market Segments

Based on Type

• DDoS Mitigation
• Identity and Access Management
• Risk and Compliance Management
• Antivirus and Antimalware
• Other Solution Types

Based Threat Type

• Malware
• DDoS
• Spyware
• Advanced Persistent Threat
• Other Threat Types

Based on End-User

• Hospitals
• Pharma & Chemicals
• Medical Devices
• Other End-Uses

Opportunity

There are advanced cybersecurity solutions for healthcare.

Cyber security companies specializing in healthcare provide solutions and services to protect hospitals and patients from cyber-attacks and data breaches. Protecting the confidentiality, integrity, or availability of data is called cybersecurity or information security.

Cyber security is a method of managing risk and software that can prevent data theft and unauthorized access from hackers, devices, healthcare data, or programs. There are many advanced cybersecurity solutions for healthcare. In 2022, the hybrid model that will support remote patient monitoring and telehealth will become a more permanent part of healthcare. Additionally, policymakers will need to refine remote therapeutic monitoring codes in order to adapt the regulatory space to this new reality.

Regional Analysis

North America was the dominant market for healthcare cybersecurity growth is attributed to the presence of key players.

North America was dominant in the healthcare cybersecurity market in 2022 and had the largest revenue share at around 43%. The healthcare cybersecurity market’s growth is attributed to the presence of key players and the increased use of cybersecurity in healthcare organizations. The market is growing due to technological advancement and increased investment in cyber security.

Market growth can also be attributed to the development of healthcare infrastructure. Market growth is also driven by the introduction of new products that protect data within the healthcare industry.

The healthcare cybersecurity market in the Asia Pacific is expected to grow at a profitable CAGR of 19.2% over the forecast period. This is due to increased penetration and adoption of the internet within the healthcare industry.

The market is also growing due to the increasing adoption and digitalization of Electronic Health Records, wireless medical devices, and Telemedicine. Market growth will be driven by increasing cyber-attacks within the region

Additionally, the regional market expansion is anticipated to be aided by the increasing digitalization and adoption of wireless medical devices, electronic health records (EHRs), and telemedicine.

Key Regions and Countries Covered

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis

Key market players continue to invest in developing products that use advanced technologies to gain an advantage over their competitors in the healthcare cybersecurity market. This will drive the growth in healthcare cyber security. In 2021, IBM announced that it would acquire ReaQta in the Netherlands, a cybersecurity threat detection company and response company.

Major Market Players

Listed below are some of the most Prominent Healthcare Cyber Security industry players.

• Cisco Systems, Inc.
• IBM Corporation
• FireEye
• Symantec Corporation
• Trend Micro
• Macafee, Inc.
• Intel
• Kaspersky Lab
• Lockheed Martin Corporation
• Northrop Grumma Corporation
• Imperva Inc
• Fortinet Inc
• Medigate Ltd
• Other Key Players

Recent Key Developments

• January 2021- FireEye introduced open-source cybersecurity to the Solar Winds supply chain to identify various cyberattacks.
• July 2021-ai application security pioneer was bought by Fortinet. to boost up DevSecOps .Sken.ai offers thorough testing for all popular programming languages and frameworks, covering all types of scans (DAST, SCA, SAST, Secrets, and more). Machine Learning (ML) is used by Sken.ai to correlate and rate each vulnerability identified by various scan kinds and apps regarding security risk.

Report Scope