Global Cyber Security Market in Healthcare Gaining Traction from Increasing Cyber Attacks
Healthcare industry has gone through rapid digitalization globally. Nowadays, healthcare organizations are spending significant capitals for enhanced patient monitoring systems and healthcare information systems. This transition has uplifted the prospects for Healthcare Cyber Security Market, and the market size was evaluated at $5.46 billion as of 2018. Following the increased number of cyber-attacks, the market for the same is expected to grow at a compound annual growth rate (CAGR) of 14.16% through the forecast period of 2018 to 2025, according to a market intelligence report by IndustryARC’s analyst.
The report is titled “Cyber Security Market in Healthcare: By Type (Service, Solutions); By End User (Providers, Business Associates, Payers); By Geography – Forecast (2019-2025).” The report contains comprehensive insights related to trends, outlook, demands, forecast, and geographical distribution in the market.
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Global Healthcare Cyber Security Market: Leading Segments
By application, the cloud security system is the fastest growing application in the Healthcare Cyber Security Market. The urgency of cybersecurity in healthcare will instigate the application growth at a CAGR of 18.57% during the forecast period of 2019 to 2025.
By region, North America held the largest market for cybersecurity in healthcare as of 2018, the region was accounted to grab 37.61% of the total cybersecurity healthcare market share. Growing awareness about cyber breaches among healthcare organizations and rising end-user expenditure of advanced cybersecurity solutions is driving this regional Healthcare Cyber Security Market.
Global Cyber Security Market in Healthcare: Industry Analysis
According to the U.S. Department of Health and Human Services, around 1 million electronic health records (EHRs) were compromised in the year 2017. The leak affected the credibility of legitimate medical records which could have caused loss of life in some instances. Therefore, the application of stringent security methods is paramount in the healthcare industry for data loss protection. Health information management systems are being employed in hospitals for breach detection and identity & access management. Profits in the cybersecurity market in healthcare are certain because of the cyber-attacks in the healthcare industry are proving to be inevitable. Advanced cloud & data centers that provide optimized health information technology for the safety of patient records is the competitive aspect for the key players in the global Healthcare Cyber Security Market.
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Global Cyber Security Market in Healthcare Trends
Cloud-based storage is being employed to contain sensitive healthcare details. Cloud provides a real-time updatability and availability of the data which is helpful in tracking the status of medical reports. The market shift from conventional data storing and accessing techniques to cloud-based techniques is spreading massively, which is expected to concur profits in cyber security in the healthcare market.
An upsurge of medical IoT devices is proposed to connect sophisticated in-hospital diagnostic equipment to the Internet. This connection of sensitive devices might become one of the reasons for the data breach, while artificial intelligence is also on the brink of its application in the healthcare industry. This transition towards innovative technologies may act as a boon or bane to the healthcare industry.
Cyber Security Market in Healthcare: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the cybersecurity market in healthcare are Cisco Systems, Inc., FireEye, Inc., IBM Corporation, Kaspersky Lab, Lockheed Martin Corporation, MacAfee, Inc., Northrop Grumma Corporation, Palo Alto Networks, Inc., Sensato, and Symantec Corporation.
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What can you expect from the report?
The Healthcare Cyber Security Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Healthcare Cyber Security Market Size by Product Categories & Application
2. Healthcare Cyber Security Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Healthcare Cyber Security Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Healthcare Cyber Security Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Healthcare Cyber Security Market Strategic Analysis
18. Healthcare Cyber Security Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Healthcare Cyber Security Market Revenue and Volume Analysis
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