Healthcare Cyber Security Market Size, Share & Segmentation by Component (Solution and services), by Security Type (Network Security, Application Security, Device Security, and Others), by Deployment (On-premises and Cloud-based), by End-use (Pharma & Chemicals, Medical Devices, Health Insurance, Hospitals, and Others), by Regions and Global Market Forecast 2023-2030
Report Id: SNS/ICT/2542 | July 2022 | Region: Global | 132 Pages
Report Scope & Overview:
Healthcare Cyber Security Market size was valued at USD 14.91 Bn in 2022 and is expected to reach USD 55.63 Bn by 2030, and grow at a CAGR of 17.89% over the forecast period 2023-2030.
Cyber security is the prevention of cyber-attacks on internet-connected systems, including hardware, software, and data. A collection of techniques used to defend the integrity of network programs and data against assault, damage, and illegal access is referred to as cyber security. Nowadays, cyber-security is more vital to patients than the healthcare business; it also aids in the prevention of cyber-attacks and the confidentiality of patient information for legal reasons.
Healthcare cybersecurity firms provide cyber security services and solutions to healthcare businesses in order to secure their hospitals and patient data from cyber-attacks and data breaches. The process of preserving the confidentiality, integrity, and availability of data is known as cybersecurity, also known as information security. Cybersecurity is a risk management strategy, software, and technology meant to safeguard networks, devices, healthcare data, and programs from data theft, digital assaults, and unauthorized access. The market's strong availability of modern healthcare cybersecurity solutions.
MARKET DYNAMICS:
KEY DRIVERS:
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A Significant Number of Healthcare Data Breach.
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Extensive Regulatory Requirements.
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Increased Use of Mobile Devices as a Result of Greater Adoption of the Bring-Your-Own-Device Policy.
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Venture Capital Firms' Investments.
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Interconnected Medical Devices Increase the Demand for Security Solutions.
RESTRAINTS:
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Cybersecurity professionals are in short supply.
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IT Security Budget Restriction.
OPPORTUNITY:
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Next-Generation IT Security Solutions Evolution.
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Cloud Security Provides New Growth Opportunities.
CHALLENGES:
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The Changing Nature of Cyber Attacks.
IMPACT OF COVID-19:
The COVID 19 epidemic wreaked havoc on the worldwide economy, hurting the healthcare cyber security business. As a result, numerous severe concerns and challenges for this business have arisen. Prior to COVID 19, healthcare services relied on telemedicine rather than face-to-face contact to limit illness spread. As the usage of remote access devices rose, so did privacy issues as the global use of the internet developed. Email spam, email phishing, and data theft are all prevalent dangers to cyber security. A cyberattack brought down the systems at Brno University Hospital during the epidemic in 2020.
MARKET ESTIMATION:
In 2021, the antivirus and antimalware sector dominated the healthcare cyber security market, accounting for a revenue share. To address the various dangers, many solutions have been devised. Because of the increased use of such solutions, the antivirus and antimalware category held the biggest market share. It is related to an increase in the number of malware assaults in the healthcare business, which is causing networks to go down and hurting patients.
The network security segment led the healthcare cyber security market share in 2020 and is likely to maintain this trend throughout the forecast period as demand for healthcare network and infrastructure security solutions rises in the healthcare sector. However, the application security market is predicted to develop the most in the future years, as firms in the healthcare and pharmaceutical sectors have turned to application security solutions to protect their data from cyber-criminals and fraudsters.
The hospital segment had the highest revenue share in 2021. Hospitals are highly vulnerable to cyber-attacks because they keep massive amounts of patient data. Furthermore, during the epidemic, these attacks increase, endangering private data and patient care. It will make greater use of cyber security. This increased cost enables hospitals to rebuild their age and maintain their patients in comparison to their market competitors. Such healthcare system expenditures may be avoided by installing a stronger data security system, which is expected to raise hospital cyber security investment.
KEY MARKET SEGMENTS:
On The Basis of Component
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Solutions
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Antivirus and Antimalware
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Identity and Access Management Solutions
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Encryption and Data Loss Protection Solutions
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Other solutions
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Services
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Consulting
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Managed Security Services
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Others Services
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On The Basis of Security Type
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Network Security
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Application Security
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Device Security
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Others
On The Basis of Deployment
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On-premises
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Cloud-based
On The Basis of End-use
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Pharma & Chemicals
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Medical Devices
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Health Insurance
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Hospitals
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Others
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REGIONAL ANALYSIS:
North America is expected to account for the greatest proportion of the global healthcare cybersecurity market in 2021, followed by Asia Pacific, Europe, Latin America, and the Middle East, and Africa. This region's large share is primarily due to factors such as the presence of major players as well as several emerging startups in the region, the presence of highly developed medical and healthcare infrastructure, high spending on healthcare information technology, the proliferation of cloud-based solutions, the increasing sophistication and frequency of cyberattacks, and the emergence of disruptive digital technologies.
Increasing cyberattacks, expanding usage of connected devices, and increased regulatory requirements for medical care and safety are likely to fuel significant growth in the Asia-Pacific region throughout the projection period. Furthermore, rising cybersecurity awareness among healthcare organizations, high adoption of advanced technologies such as IoT, 5G technology, and cloud computing, raising privacy and security concerns, and rising demand for robust and cost-effective cybersecurity solutions in the region are some of the major factors driving the growth of the APAC healthcare cybersecurity market.
REGIONAL COVERAGE:
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North America
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USA
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Canada
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Mexico
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Europe
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Germany
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UK
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France
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Italy
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Spain
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The Netherlands
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Rest of Europe
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Asia-Pacific
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Japan
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south Korea
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China
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India
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Australia
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Rest of Asia-Pacific
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The Middle East & Africa
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Israel
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UAE
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South Africa
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Rest of Middle East & Africa
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Latin America
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Brazil
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Argentina
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Rest of Latin America
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KEY PLAYERS:
The major key players are Northrop Grumma Corporation, Palo Alto Networks, Inc., sensato investors, Symantec Corporation, Cisco Systems, Inc., FireEye, Inc., IBM Corporation, Kaspersky Lab, Lockheed Martin Corporation, and MACAFEE, INC.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | USD 14.91 Billion |
| Market Size by 2030 | USD 55.63 Billion |
| CAGR | CAGR 17.89% From 2023 to 2030 |
| Base Year | 2021 |
| 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 Component (Solution and services) • by Security Type (Network Security, Application Security, Device Security, and Others) • by Deployment (On-premises and Cloud-based) • by End-use (Pharma & Chemicals, Medical Devices, Health Insurance, Hospitals, and Others) |
| 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, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Northrop Grumma Corporation, Palo Alto Networks, Inc., sensato investors, Symantec Corporation, Cisco Systems, Inc., FireEye, Inc., IBM Corporation, Kaspersky Lab, Lockheed Martin Corporation, and MACAFEE, INC. |
| Key Drivers | •A Significant Number of Healthcare Data Breach. •Extensive Regulatory Requirements. |
| Market Restraints | •Cybersecurity professionals are in short supply. •IT Security Budget Restriction. |
Frequently Asked Questions (FAQ) :
What is the current market size of the Healthcare Cyber Security market?
Ans: - The Healthcare Cyber Security Market size was valued at USD12.65 Bn in 2021.
What are the challenges that will be faced by Healthcare Cyber Security market?
Ans: - The Changing Nature of Cyber Attacks.
Which region accounted largest market share for the Healthcare Cyber Security market in forecast period?
Ans: - North America is expected to account for the greatest proportion of the global healthcare cybersecurity market.
Which are the key players functioning in the Healthcare Cyber Security market?
Ans: - The major key players are Northrop Grumma Corporation, Palo Alto Networks, Inc., sensato investors, Symantec Corporation, Cisco Systems, Inc., FireEye, Inc., IBM Corporation, Kaspersky Lab, Lockheed Martin Corporation, and MACAFEE, INC.
Who are the key stakeholders of the Enterprise Application Integration Market study?
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
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. Healthcare Cyber Security Market Segmentation, by Component
8.1Solutions
8.1.1Antivirus and Antimalware
8.1.2Identity and Access Management Solutions
8.1.3Encryption and Data Loss Protection Solutions
8.1.4Other solutions
8.2 Services
8.2.1 Consulting
8.2.2 Managed Security Services
8.2.3 Others Services
9. Healthcare Cyber Security Market Segmentation, by Security Type
9.1 Network Security
9.2 Application Security
9.3 Device Security
9.4 Others
10. Healthcare Cyber Security Market Segmentation, by Deployment
10.1 On-premises
10.2 Cloud-based
11. Healthcare Cyber Security Market Segmentation, by End-use
11.1 Pharma & Chemicals
11.2 Medical Devices
11.3 Health Insurance
11.4 Hospitals
11.5 Others
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 Northrop Grumma Corporation
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Palo Alto Networks, Inc.
13.3 sensato investors
13.4 Symantec Corporation
13.5 Cisco Systems, Inc.
13.6 FireEye, Inc.
13.7 IBM corporation
13.8 Kaspersky Lab
13.9 Lockheed Martin Corporation
13.10 MACAFEE, INC.
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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