Healthcare Cyber Security
PUBLISHED: 2024 ID: SMRC26270
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Healthcare Cyber Security

Healthcare Cyber Security Market Forecasts to 2030 - Global Analysis By Type (Solution, Services and Other Types), Threat Type (Malware, Distributed Denial of Service (DDoS), Advanced Persistent Threat, Spyware, Lost or Stolen Devices and Other Threat Types), Security Type, Deployment, End User and by Geography

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4.9 (96 reviews)
Published: 2024 ID: SMRC26270

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Healthcare Cyber Security Market is accounted for $25.99 billion in 2024 and is expected to reach $75.69 billion by 2030 growing at a CAGR of 19.5% during the forecast period. Protecting sensitive patient data and guaranteeing the continuous provision of healthcare services are the two main goals of the vital and quickly developing field of healthcare cybersecurity. The healthcare industry is becoming a prime target for cyberattacks due to the growing digitization of medical records and the adoption of Internet of Things (IoT) devices in hospitals. These assaults have the potential to jeopardize patient lives by causing ransomware incidents, data breaches, and interruptions in medical services. 

According to the Healthcare Information and Management Systems Society (HIMSS), robust cybersecurity measures are essential to protect healthcare organizations from the increasing number of cyber threats targeting sensitive patient data and critical infrastructure.

Market Dynamics: 

Driver: 

Emergence of innovative digital technologies

The rise of digital technologies likes big data, cloud computing, and the internet of things (IoT) has accelerated the digital transformation of the healthcare industry in today's connected world. A security blind spot has been created by the proliferation of connected devices in healthcare organizations, making it easier for hackers and cybercriminals to target IoT medical equipment like respirators and ventilators, as well as webcams, routers, and printers. 

Restraint:

Lack of consciousness

The healthcare cyber security market is anticipated to grow at a very high rate during the forecast period, but growth will soon be hampered by certain factors. The healthcare cyber security market's growth would be hampered by the general lack of knowledge about cyber security issues pertaining to the healthcare sector. Employees in the healthcare sector and others are ignorant of the significance of cyber security, particularly with regard to security software. Due to the fact that people are unaware of them, medical records continue to be both a risk and an asset for healthcare organizations. Furthermore, personal data, including social security numbers and bank account numbers, is used on the illicit market.

Opportunity:

Increase in network cyber attacks against hospitals

The need for cyber security has increased as a result of the rise in cyber attacks and data breaches around the world. For example, the Office for Civil Rights is currently looking into 592 breaches of unsecured protected health data that occurred within the last two years and affected over 500 individuals, according to the Secretary of the U.S. Department of Health and Human Services (HHS) Breach of Unsecured Protected Health Information. The likelihood of a cyber attack is rising as a result of increased digitalization and internet penetration. Moreover, the healthcare sector is particularly susceptible because of the valuable data it possesses.

Threat:

Attacks by phishers

Phishing attacks are still a common cyber security risk in the healthcare industry. Cybercriminals trick healthcare workers into disclosing private information or clicking on harmful links by sending them false emails or messages. Phishing attacks have the potential to cause malware to spread throughout healthcare networks, data breaches, and unauthorized access to patient records. Implementing thorough email security protocols is imperative for healthcare organizations. Additionally, these protocols should include spam filters, email authentication methods, and employee training programs that teach staff how to spot and report phishing attempts as soon as they occur.

Covid-19 Impact: 

The market for healthcare cyber security has been significantly impacted by the COVID-19 pandemic, which has raised demand for strong security solutions to safeguard sensitive patient data in the face of previously unheard-of difficulties. Healthcare companies' digital footprints have grown due to the quick uptake of telehealth services and remote work policies, which have left them, open to attack by cybercriminals. Furthermore, investment in cutting-edge cyber security technologies and strategies, such as encryption, multi-factor authentication, and threat detection systems, has been spurred by the pressing need to protect patient information and preserve the integrity of healthcare systems.

The Malware segment is expected to be the largest during the forecast period

In the healthcare cyber security market, the malware segment usually holds the largest market share. Since malware targets sensitive patient data and interferes with essential healthcare services, it poses a serious threat to healthcare organizations. Malware includes viruses, ransom ware, and other malicious software. The healthcare industry is especially susceptible to malware attacks because of its dependence on networked systems and electronic health records. Moreover, these attacks can lead to compromised patient safety, financial losses, and data breaches.

The Cloud Security segment is expected to have the highest CAGR during the forecast period

Within the healthcare cyber security market, cloud security is growing at the highest CAGR. Healthcare companies can gain a lot from cloud computing, including cost savings, scalability, and flexibility, but there are also special security risks. Ensuring the security of sensitive data on cloud-based platforms has become a primary concern as healthcare providers utilize these services more frequently for patient data storage and access. Additionally, cloud security solutions protect the privacy, availability, and integrity of medical data processed and stored in the cloud by utilizing a variety of techniques, such as identity and access management, data encryption, and threat detection.

Region with largest share:

In the healthcare cyber security market, North America usually holds the largest share. The widespread use of digital healthcare technologies, strict laws like the Health Insurance Portability and Accountability Act (HIPAA), and the existence of important cybersecurity solution providers and healthcare organizations are the main causes of this dominance. Furthermore, the region's leadership position in the global healthcare cybersecurity market is further bolstered by its substantial investments in cybersecurity initiatives and sophisticated healthcare infrastructure.

Region with highest CAGR:

The European region has the highest CAGR in the healthcare cyber security market. Due to factors like the growing digitization of healthcare systems, an increase in cyber attacks targeting healthcare organizations, and strict regulatory requirements like the General Data Protection Regulation (GDPR), the healthcare cyber security market in the region is expanding significantly. European nations are giving cyber security infrastructure investments top priority in order to protect patient data and guarantee adherence to data protection regulations. Moreover, the need for strong cyber security solutions to safeguard private medical data is being driven by the expanding use of electronic health records and telehealth services.

Key players in the market

Some of the key players in Healthcare Cyber Security market include Intel Corporation, Dell EMC, IBM, FireEye Inc, McAfee, LLC., Fortinet, Inc, Northrop Grumman Corporation, Kaspersky, Cisco Systems, Inc., SailPoint Technologies , Palo Alto Networks Inc, Lockheed Martin Corporation, Medigate (Claroty), Forcepoint, Atos SE, Symantec Corporation, Virta Laboratories  and Trend Micro Incorporated.

Key Developments:

In April 2024, IBM, in partnership with the governments of Canada and Quebec, has announced an agreement to help further strengthen the country’s semiconductor industry. The agreements reflect a combined investment valued at approximately $137m in an effort to further boost the assembly, testing and packaging (ATP) capabilities for semiconductor modules used across a range of applications.

In March 2024, Intel (INTC) and chip designer Arm (ARM) said Friday the companies finalized an agreement to collaborate on an initiative providing financial, intellectual property (IP), and manufacturing support to startups. The collaboration, called the Emerging Business Initiative, was first announced at last month's Intel Foundry conference and builds on a partnership established last April, in a move the companies suggested could help propel innovation in artificial intelligence (AI).
 
In July 2023, Dell Technologies announced it has signed a definitive agreement to acquire Moogsoft, an AI-driven provider of intelligent monitoring solutions that support DevOps and ITOps. This transaction will further enhance Dell's AIOps capabilities, as part of its longstanding approach of embedding AI functionality within its product portfolio and as a critical component of its ""multicloud by design"" strategy.

Types Covered:
• Solution
• Service
• Other Types 
 
Threat Types Covered:
• Malware
• Distributed Denial of Service (DDoS)
• Advanced Persistent Threat
• Spyware
• Lost or Stolen Devices
• Other Threat Types 

Security Types Covered:
• Network Security
• Device Security
• Critical Infrastructure Security
• Wireless Security
• Cloud Security
• Application Security
• Endpoint and IoT Security
• Other Security Types 

Deployments Covered:
• On-premises
• Cloud-based 

End Users Covered:
• Pharmaceuticals
• Chemicals
• Health Insurance Companies 
• Medical Devices
• Healthcare Payers
• Hospitals
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary         
          
2 Preface         
 2.1 Abstract        
 2.2 Stake Holders        
 2.3 Research Scope        
 2.4 Research Methodology        
  2.4.1 Data Mining       
  2.4.2 Data Analysis       
  2.4.3 Data Validation       
  2.4.4 Research Approach       
 2.5 Research Sources        
  2.5.1 Primary Research Sources       
  2.5.2 Secondary Research Sources       
  2.5.3 Assumptions       
          
3 Market Trend Analysis         
 3.1 Introduction        
 3.2 Drivers        
 3.3 Restraints        
 3.4 Opportunities        
 3.5 Threats        
 3.6 End User Analysis        
 3.7 Emerging Markets        
 3.8 Impact of Covid-19        
          
4 Porters Five Force Analysis         
 4.1 Bargaining power of suppliers        
 4.2 Bargaining power of buyers        
 4.3 Threat of substitutes        
 4.4 Threat of new entrants        
 4.5 Competitive rivalry        
          
5 Global Healthcare Cyber Security Market, By Type         
 5.1 Introduction        
 5.2 Solution        
  5.2.1 Identity and Access Management       
  5.2.2 Risk and Compliance Management       
  5.2.3 Antivirus and Antimalware       
  5.2.4 DDoS Mitigation       
  5.2.5 Security Information and Event Management       
  5.2.6 Intrusion Detection System/ Intrusion Prevention System       
 5.3 Service        
  5.3.1 Professional Services       
  5.3.2 Managed Services       
  5.3.3 Support & Maintenance       
 5.4 Other Types        
          
6 Global Healthcare Cyber Security Market, By Threat Type         
 6.1 Introduction        
 6.2 Malware        
 6.3 Distributed Denial of Service (DDoS)        
 6.4 Advanced Persistent Threat        
 6.5 Spyware        
 6.6 Lost or Stolen Devices        
 6.7 Other Threat Types        
          
7 Global Healthcare Cyber Security Market, By Security Type         
 7.1 Introduction        
 7.2 Network Security        
 7.3 Device Security        
 7.4 Critical Infrastructure Security        
 7.5 Wireless Security        
 7.6 Cloud Security        
 7.7 Application Security        
 7.8 Endpoint and IoT Security        
 7.9 Other Security Types        
          
8 Global Healthcare Cyber Security Market, By Deployment         
 8.1 Introduction        
 8.2 On-premises        
 8.3 Cloud-based        
          
9 Global Healthcare Cyber Security Market, By End User         
 9.1 Introduction        
 9.2 Pharmaceuticals        
 9.3 Chemicals        
 9.4 Health Insurance Companies         
 9.5 Medical Devices        
 9.6 Healthcare Payers        
 9.7 Hospitals        
 9.8 Other End Users        
          
10 Global Healthcare Cyber Security Market, By Geography         
 10.1 Introduction        
 10.2 North America        
  10.2.1 US       
  10.2.2 Canada       
  10.2.3 Mexico       
 10.3 Europe        
  10.3.1 Germany       
  10.3.2 UK       
  10.3.3 Italy       
  10.3.4 France       
  10.3.5 Spain       
  10.3.6 Rest of Europe       
 10.4 Asia Pacific        
  10.4.1 Japan       
  10.4.2 China       
  10.4.3 India       
  10.4.4 Australia       
  10.4.5 New Zealand       
  10.4.6 South Korea       
  10.4.7 Rest of Asia Pacific       
 10.5 South America        
  10.5.1 Argentina       
  10.5.2 Brazil       
  10.5.3 Chile       
  10.5.4 Rest of South America       
 10.6 Middle East & Africa        
  10.6.1 Saudi Arabia       
  10.6.2 UAE       
  10.6.3 Qatar       
  10.6.4 South Africa       
  10.6.5 Rest of Middle East & Africa       
          
11 Key Developments         
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures        
 11.2 Acquisitions & Mergers        
 11.3 New Product Launch        
 11.4 Expansions        
 11.5 Other Key Strategies        
          
12 Company Profiling         
 12.1 Intel Corporation        
 12.2 Dell EMC         
 12.3 IBM         
 12.4 FireEye Inc        
 12.5 McAfee, LLC.        
 12.6 Fortinet, Inc        
 12.7 Northrop Grumman Corporation        
 12.8 Kaspersky         
 12.9 Cisco Systems, Inc.        
 12.10 SailPoint Technologies         
 12.11 Palo Alto Networks Inc        
 12.12 Lockheed Martin Corporation        
 12.13 Medigate (Claroty)        
 12.14 Forcepoint         
 12.15 Atos SE        
 12.16 Symantec Corporation        
 12.17 Virta Laboratories         
 12.18 Trend Micro Incorporated        
          
List of Tables          
1 Global Healthcare Cyber Security Market Outlook, By Region (2022-2030) ($MN)         
2 Global Healthcare Cyber Security Market Outlook, By Type (2022-2030) ($MN)         
3 Global Healthcare Cyber Security Market Outlook, By Solution (2022-2030) ($MN)         
4 Global Healthcare Cyber Security Market Outlook, By Identity and Access Management (2022-2030) ($MN)         
5 Global Healthcare Cyber Security Market Outlook, By Risk and Compliance Management (2022-2030) ($MN)         
6 Global Healthcare Cyber Security Market Outlook, By Antivirus and Antimalware (2022-2030) ($MN)         
7 Global Healthcare Cyber Security Market Outlook, By DDoS Mitigation (2022-2030) ($MN)         
8 Global Healthcare Cyber Security Market Outlook, By Security Information and Event Management (2022-2030) ($MN)         
9 Global Healthcare Cyber Security Market Outlook, By Intrusion Detection System/ Intrusion Prevention System (2022-2030) ($MN)         
10 Global Healthcare Cyber Security Market Outlook, By Service (2022-2030) ($MN)         
11 Global Healthcare Cyber Security Market Outlook, By Professional Services (2022-2030) ($MN)         
12 Global Healthcare Cyber Security Market Outlook, By Managed Services (2022-2030) ($MN)         
13 Global Healthcare Cyber Security Market Outlook, By Support & Maintenance (2022-2030) ($MN)         
14 Global Healthcare Cyber Security Market Outlook, By Other Types (2022-2030) ($MN)         
15 Global Healthcare Cyber Security Market Outlook, By Threat Type (2022-2030) ($MN)         
16 Global Healthcare Cyber Security Market Outlook, By Malware (2022-2030) ($MN)         
17 Global Healthcare Cyber Security Market Outlook, By Distributed Denial of Service (DDoS) (2022-2030) ($MN)         
18 Global Healthcare Cyber Security Market Outlook, By Advanced Persistent Threat (2022-2030) ($MN)         
19 Global Healthcare Cyber Security Market Outlook, By Spyware (2022-2030) ($MN)         
20 Global Healthcare Cyber Security Market Outlook, By Lost or Stolen Devices (2022-2030) ($MN)         
21 Global Healthcare Cyber Security Market Outlook, By Other Threat Types (2022-2030) ($MN)         
22 Global Healthcare Cyber Security Market Outlook, By Security Type (2022-2030) ($MN)         
23 Global Healthcare Cyber Security Market Outlook, By Network Security (2022-2030) ($MN)         
24 Global Healthcare Cyber Security Market Outlook, By Device Security (2022-2030) ($MN)         
25 Global Healthcare Cyber Security Market Outlook, By Critical Infrastructure Security (2022-2030) ($MN)         
26 Global Healthcare Cyber Security Market Outlook, By Wireless Security (2022-2030) ($MN)         
27 Global Healthcare Cyber Security Market Outlook, By Cloud Security (2022-2030) ($MN)         
28 Global Healthcare Cyber Security Market Outlook, By Application Security (2022-2030) ($MN)         
29 Global Healthcare Cyber Security Market Outlook, By Endpoint and IoT Security (2022-2030) ($MN)         
30 Global Healthcare Cyber Security Market Outlook, By Other Security Types (2022-2030) ($MN)         
31 Global Healthcare Cyber Security Market Outlook, By Deployment (2022-2030) ($MN)         
32 Global Healthcare Cyber Security Market Outlook, By On-premises (2022-2030) ($MN)         
33 Global Healthcare Cyber Security Market Outlook, By Cloud-based (2022-2030) ($MN)         
34 Global Healthcare Cyber Security Market Outlook, By End User (2022-2030) ($MN)         
35 Global Healthcare Cyber Security Market Outlook, By Pharmaceuticals (2022-2030) ($MN)         
36 Global Healthcare Cyber Security Market Outlook, By Chemicals (2022-2030) ($MN)         
37 Global Healthcare Cyber Security Market Outlook, By Health Insurance Companies (2022-2030) ($MN)         
38 Global Healthcare Cyber Security Market Outlook, By Medical Devices (2022-2030) ($MN)         
39 Global Healthcare Cyber Security Market Outlook, By Healthcare Payers (2022-2030) ($MN)         
40 Global Healthcare Cyber Security Market Outlook, By Hospitals (2022-2030) ($MN)         
41 Global Healthcare Cyber Security Market Outlook, By Other End Users (2022-2030) ($MN)         
          
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.          

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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