Healthcare Cybersecurity Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Japan, China, India, Australia, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE) Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3147
Healthcare Cybersecurity Market size is projected to experience significant growth from 2019 to 2025.
Increasing adoption of cyber security solutions and services by healthcare organizations to protect valuable patient information will augment the healthcare cybersecurity market. Healthcare industry suffers from the highest number of data breaches. For instance, in 2017, there were 1,579 data breaches in the U.S. that is 44.7% increase over previous year. Moreover, technological advancements provided by key players such as custom-made security solutions and end-to-end security solutions have increased its preference among healthcare providers.
Increasing incidence of data breaches and theft will enhance the adoption of cybersecurity technology in medical and healthcare segment. With the advent of new technologies, there has been increase in number of hackers keen to capitalize on weakness in innovative technologies. New advancements in these technologies has helped provide critical services in enhancing patient’s health but has raised concerns about data storage and security of medical information. This will certainly boost the adoption and demand of cybersecurity technology.
DDOS threat will show lucrative growth during analysis timeframe. Distributed denial of service (DDOS) attack are techniques used by cybercriminals to overcome a network to the point of inoperability. This can pose a serious trouble for healthcare experts in providing proper patient care. For instance, Boston’s children hospital was targeted with DDOS attacks in 2014. Such attacks will certainly render significant positive impact on the segment growth.
Identity and Access Management (IAM) solutions held considerable share in 2018. Health record have longer shelf life that financial or any other data. IAM provides streamline compliance by providing modernize process, eliminating areas of risky access and facilitate rapid and accurate reporting of data. Above mentioned applications of IAM solutions have increased its adoption among hospitals and pharmaceutical companies.
Pharmaceutical companies are undergoing rapid changes with the help of cybersecurity solutions. Storage of various medicines related information and clinical trials information has become more easy and secure using protection solutions. For instance, Merck company was attacked by cyber theft causing massive operational damages. Such cyber thefts can create huge demand for cybersecurity solutions.
The U.S. held considerable share in the North America healthcare cybersecurity market. The U.S. healthcare sector has trouble handling large amount of patient information. Doctors, hospitals, insurance companies and pharmacies need numerous data in to take proper care of patients. Increase in demand and adoption rate of security solutions by the healthcare facilities to manage and secure this humongous data will augment the industry growth.
Some of the major industry players in the Healthcare Cybersecurity market include Herjavec Group, IBM Security, Raytheon, EY, Mimecast, KnowBe4, Cisco, Sophos, Clearwater Compliance, Thycotic Software and CyberArk. Industry players focus on innovative product launch as their main strategies as well as mergers and acquisitions to expand existing product portfolio and capture high market share. For instance, in 2016, Herjavec group launched advanced identity and access management practices to overcome cybersecurity threats.
Healthcare Cybersecurity Market by Threat type, 2014-2025 (USD Million)
- Distributed Denial of Service (DDOS)
- Spywares and Malware
- Advanced Persistent Threats (APT)
- Phishing and trojans
Healthcare Cybersecurity Market by Solution, 2014-2025 (USD Million)
- Identity and Access Management
- Risk and Compliance Management
- Security Information and Event Management
- Intrusion Protection Solutions
Healthcare Cybersecurity Market by End-use, 2014-2025 (USD Million)
- Pharmaceutical and Biotech Companies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Herjavec Group
- IBM Security
- Clearwater Compliance
- Thycotic Software
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