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.
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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.
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
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).
By Products and Services
Products
Services
By Application
Network Security
Endpoint Security
Content Security
BY Delivery Mode
On-premise
On-demand
By End User
Healthcare Providers
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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
Some of the major key players are Dell, Inc., Hewlett Packard, Intel Corporation, Oracle Corporation, IBM Corporation, Symantec Corporation, Wipro, and other players.
| 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 |
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
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