As per the report published by The Brainy Insights, the global healthcare cyber security market is expected to grow from USD 15.99 billion in 2022 to USD 70.55 billion by 2030, at a CAGR of 20.38% during the forecast period 2022-2030. The market revenue share was dominated by North America in 2022, contributing 37.24% of the market's overall revenue. The presence of large corporations and the increasing use of cyber security by healthcare organisations are the primary drivers of market expansion. The growing investment in technical advancement and cyber security is boosting the business. The modern healthcare infrastructure is also responsible for market expansion. Another element influencing market growth is the advent of unique gadgets to safeguard patient data in the healthcare industry. Cisco, for instance, created the most recent "Cisco Umbrella" in 2018. At the University of Kansas Hospital, it was put into place to protect medical equipment and financial data from ransomware.
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Healthcare Cyber Security Market Size by Type of Threat (DDoS, Spyware, Malware, Lost or Stolen Devices, Advanced Persistent Threat, Others), End-Use (Medical Devices, Hospitals, Pharma & Chemicals, Health Insurance, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
Report Scope & Segmentation:
Report Coverage | Details |
Forecast Period | 2022-2030 |
Forecast CAGR | 20.38% |
2030 Value Projection | USD 70.55 Billion |
Base Year | 2021 |
Historical Data | 2019-2020 |
No. of Pages | 230+ |
Segments Covered | Type of Threat, End-Use, Regions |
Healthcare Cyber Security Market Growth Drivers | Increasing demand for cyber security in the healthcare sector |
Leading companies in the industry include IBM, Symantec, MacAfee, Kaspersky, Northrop Grumman, Fortinet Inc, Cisco, Trend Micro, Imperva Inc, Lockheed Martin, Medigate Ltd, FireEye, Intel among others, offer more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The global healthcare cyber security market has been segmented based on the type of threat, end-use, and region. The type of threat segment is divided into DDoS, spyware, malware, lost or stolen devices, advanced persistent threats, and others. The malware segment dominated the market, with a market share of around 23.81% in 2022. In the healthcare industry, there are many issues with cyber security. These include malware that compromises system integrity and patient privacy, distributed denial of service (DDoS) attacks that hinder providers' ability to offer high-quality patient care, and other dangers. The most frequent malware assault is ransomware since hackers are familiar with it and prefer it. The end-use segment is divided into medical devices, hospitals, pharma & chemicals, health insurance, and others. In 2022, the hospitals’ segment dominated the market, accounting for around 27.94% of global revenue. Hospitals are especially vulnerable to cyberattacks because they hold many patients' data. Additionally, these attacks become more frequent when a pandemic endangers patient care and personal information. As a result, more people will use cyber security.
One of the main factors propelling the growth of the healthcare cybersecurity market is the rising demand for advanced cybersecurity solutions and privacy and the frequency and complexity of cyber threats. Another is the appearance of disruptive digital technologies across the healthcare sector. Factors including rising government investment in security, a growing need for cloud-based security solutions in the healthcare sector, an exponential rise in healthcare data breaches, and expanding 5G technology adoption are all boosting the market for healthcare cyber security.
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