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Report Scope & Overview:

The Health IT Security Market Size was valued at USD 12.35 billion in 2022, and is expected to reach USD 39.37 billion by 2030, and grow at a CAGR of 15.6% over the forecast period 2023-2030.

In the following years, the market for health IT security is anticipated to expand. Different companies need the health IT security industry to combat the cyberattacks that hospitals and other healthcare facilities are subjected to. The complex setup and various technologies utilised by healthcare institutions may give access to these cybercriminals, who could use the system in an adverse manner.

Health IT Security Market Revenue Analysis

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The necessity for an effective course of action across the healthcare sector's information technology systems has been highlighted by an increase in the misuse of highly guarded data in the healthcare industry.

MARKET DYNAMICS

DRIVERS

  • Multiple Breach of Healthcare Data

  • High Standards of Regulation

  • Mobile Device Use Growing as Bring Your Own Device (BYOD) Policy Is More Widely Adopted

  • Capital Invested by Venture Capital Firms

  • Security Solutions Are Needed Because of Connected Medical Devices

RESTRAINTS

  • Cybersecurity experts are in short supply.

  • Discretionary IT Security Spending

OPPORTUNITIES

  • The Development of Future IT Security Solutions

  • New Growth Paths Provided by Cloud Security

CHALLENGES

  • Cyberattacks with Frequently Varying Nature

IMPACT OF COVID-19

The global COVID-19 epidemic and the ensuing lockout have caused the healthcare market to continue to decline. Aside from affecting communities, COVID-19 had devastating effects on the major world economies, particularly the healthcare industry. Important parties are continuing to modify their tactics in response to the fast-shifting circumstances. The healthcare sector is expected to see severe long-term effects from COVID-19. Prioritized healthcare reforms would need to be implemented by nations and significant stakeholders until the situation is resolved.

The near future will see significant advancements in technology, cost control, and expanded accessibility in healthcare reforms. In the ongoing outbreak, telemedicine and digital health have assumed a prominent role. The significance of remote diagnosis, care, and consultation was reemphasized in COVID-19. Growth in Telehealth has been delayed over the last few years by legislative and behavioural constraints. However, because so many healthcare organisations are presently experimenting with video conferencing and phone conversations, the growth of this market will multiply many times over the next two years. Patients with mild symptoms were also required to consult online as part of the social distancing strategies. Additionally, it significantly lessens the strain on hospitals, who were already overburdened by COVID-19 patient counts.

Medical IoT devices that reside in the patient's house are now utilised to maximize outpatient care and reduce follow-up visits; these devices can also be employed in an emergency. During the pandemic, there were serious resource shortages. Future market growth is anticipated to be accelerated by the creation of value-based pricing models and competitive pricing strategies. Given these elements, COVID 19 is anticipated to have a substantial effect on the market for health IT security.

By Products and Services

The IT healthcare products market is divided into categories such as firewall and integrated threat management solutions (UTM), intrusion / prevention systems (IPS), distributed service denials (DDoS), proprietary solutions and access, encryption and loss of data. security solutions (DLP), risk management and compliance solutions, etc. (security and risk management, disaster recovery, security information and event management (SIEM), as well as consultation services, managed security services, and other services including market services (implementation, ongoing IT support, training, retention, and promotion services)

By Application

The network security, application security, endpoint security, and content security segments make up the health IT security industry.

BY Delivery Mode

The market is divided into on-premise and on-demand solutions based on the mode of distribution.

By End User

Health payers and health care providers form market segments. Hospitals, medical services, and other organizations make up the remainder of the market for health care providers (patient care centers, medical centers, and educational institutions).

KEY MARKET SEGMENTS

By Products and Services

  • Products

  • Services

By Application

BY Delivery Mode

  • On-premise

  • On-demand

By End User

Health IT Security Market Segmentation Analysis

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REGIONAL ANALYSIS

The health IT security market is anticipated to be dominated by North America, with the United States holding a sizable portion of the market. During the projection period, the Asian market is anticipated to develop at the greatest CAGR. The increasing usage of mobile devices in healthcare procedures, government measures to impose strict data security standards, and rising awareness of IT security in Asia are all contributing factors to market growth.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

Some of the major key players are Dell, Inc., Hewlett Packard, Intel Corporation, Oracle Corporation, IBM Corporation, Symantec Corporation, Wipro, and other players.

Hewlett Packard-Company Financial Analysis

Health IT Security Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 12.35 Billion
Market Size by 2030 US$ 39.37 Billion
CAGR CAGR of 7.3% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Products and Services (Products, Services)
• By Application (Network Security, Endpoint Security, Application Security, Content Security)
• BY Delivery Mode (On-premise, On-demand)
• By End User (Healthcare Providers, Healthcare Payers)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Dell, Inc., Hewlett Packard, Intel Corporation, Oracle Corporation, IBM Corporation, Symantec Corporation, Wipro, and other players.
Key Drivers • Multiple Breach of Healthcare Data
• High Standards of Regulation
• Mobile Device Use Growing as Bring Your Own Device (BUOD) Policy Is More Widely Adopted
Restraints • Cybersecurity experts are in short supply.
• Discretionary IT Security Spending

Frequently Asked Questions

Ans: The Health IT Security Market size estimated to reach US$ 39.37 bn by 2030.

Ans: The Health IT Security Market is growing at a CAGR of 15.6% over the forecast period 2023-2030.

The challenges faced by Health IT Security market is Cyberattacks with Frequently Varying Nature 

The by Application is divided into four sub segments is Network Security, Endpoint Security, Application Security, and Content Security.

 The Development of Future IT Security Solutions, New Growth Paths Provided by Cloud Security are the opportunities of Health IT Security Market.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

  

8. Health IT Security Market Segmentation, By Products and Services

8.1 Products

8.2 Services

9. Health IT Security Market Segmentation, BY Delivery Mode

9.1 On-premise

9.2 On-demand

10. Health IT Security Market Segmentation, By Application

10.1 Network Security

10.2 Endpoint Security

10.3 Application Security

10.4 Content Security

11. Health IT Security Market Segmentation, By End User

11.1 Healthcare Providers

11.2 Healthcare Payers

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

13. Company Profiles

13.1 Dell, Inc.

            13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Hewlett Packard

13.3 Intel Corporation

13.4 Oracle Corporation

13.5 IBM Corporation

13.6 Symantec Corporation

13.7 Wipro.

14. Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share Analysis

14.3 Recent Developments

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

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