Healthcare Cyber Security Market is estimated to be US$ 51.7 billion by 2032 with a CAGR of 18.8% over the forecast period (2022-2032)
Healthcare
Cyber Security
is a strategic imperative for any organization in the medical industry, from
healthcare providers to insurance companies to pharmaceutical, biotechnology,
and medical device companies. It includes various measures to protect organizations
from external and internal cyber-attacks and to ensure availability of medical
services, proper operation of medical systems and equipment, preservation of
confidentiality and integrity of patient data & compliance with industry
regulations. Cyber security is a critical component of any healthcare
organization's operations, healthcare data is considered one of the most
valuable commodities sold on the information black market, and as a result,
healthcare facilities are prime targets for cybercriminals. But in the
healthcare sector, cyber security requires a more specialized, focused strategy
to preserve the privacy, integrity and availability of highly sensitive medical
information, the most valuable healthcare digital information of patient data,
often referred to a protected health information. A comprehensive healthcare
cyber security program covers all information technology systems used in an
organization, such as electronic health record systems, email, medical devices,
wearable’s and other patient monitoring devices, phone systems, other software,
printers and fax machines, stored in these information technology systems. Data
must be protected. Instant messaging tools and other communication
applications. Cyber security has three goals: protecting the privacy,
integrity, and availability of information, also known as the “CIA Triad”.
Aligning cyber security and patient safety initiatives will not only help an
organization protect patient safety and privacy, but also ensure the continuity
of effective delivery of high-quality care by minimize disruptions that can
negatively impact clinical outcomes. In this market, growth in the adoption of
technologies such as IoT and machine learning in healthcare is expected to
drive the growth of the healthcare cyber security market during the forecast
period. Some of the major factors driving the demand for healthcare cyber
security market include increasing number of cyber-attacks and increasing
adoption of mobile device applications and platforms. However, the increasing
number of various cyber-attacks in the medical sector across the world has
increased the market demand for cyber security in the healthcare sector.
The report “Healthcare Cyber
Security Market, By Threat (Ransomware, Malware & Spyware, Distributed
Denial of Services, Advanced Persistent Threat, Phishing & Spear Phishing),
By Solution Type (Antivirus and Antimalware, Risk and Compliance Management,
Security Information and Event Management, Distributed Denial-Of-Service
Mitigation, Identity and Access Management and Others), By Security Type
(Network Security, Application Security, Device Security, Others), By
Deployment (On-Premises, Cloud-based), By End-User (Hospitals, Pharmaceuticals
and Biotechnology Industries, Healthcare Payers), and By Region (North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends
Analysis and Forecast till 2032 “
Key Highlights:
In December 2022, Palo Alto Networks announced a medical IoT
security solution for medical devices—enabling healthcare organizations to
quickly and securely deploy and manage new connected technologies. Zero Trust
is a strategic approach to cyber security that secures an organization by
eliminating implicit trust through continuous verification of every user and device.
In December 2022, Cyber security resilience is a top priority for
companies as they look to defend against a rapidly evolving threat landscape,
according to the latest edition of Cisco's annual security results report
launched in December 2022.
In May 2022, IT and networking company Cisco in March launched a
new cyber security assessment tool for small and medium-sized businesses in
Asia Pacific to measure their cyber security readiness in the face of a hybrid
work environment. “This has expanded the attack surface and increased cyber
security risk beyond the perimeters companies have traditionally built to
protect the business,” the company said. The new tool assesses a business's
cyber security readiness through the 'Zero Trust' concept.
In May 2022, US software company Symantec recently released its
latest findings surrounding the ongoing cyber threat to the healthcare
industry. Dubbed Orangeworm, the cyber-attack affected 100 organizations in the
US (17%), Europe and Asia, the company reported.
Analyst View:
Cyber-attacks on protected health information, personally
identifiable information and other programs pose a threat to patient safety and
privacy. Similar to ransomware attacks, losing access to medical equipment and
records can encrypt files and hold hostages. The benefits of data security
include preventing data breaches, protecting sensitive data and preventing
cyber-attacks. Data security also helps ensure business continuity by
preventing security breaches or attacks. Healthcare cyber security involves
protecting electronic information from access and access, use and disclosure.
Cyber security has three goals: protecting privacy, integrity, and availability
of information, known as the “CIA Triad”. Healthcare cyber security has become
increasingly important, cyber threats have steadily increased in recent years,
and many healthcare organizations have struggled to secure their network
infrastructure and perimeters to keep out intruders. Innovation in the
Healthcare Cyber Security Market is increasing worldwide, with technological
developments in Healthcare Cyber Security becoming more efficient to use.
Browse 60 market data tables* and 35 figures* through 140 slides
and in-depth TOC on “Healthcare Cyber Security Market, By Threat (Ransomware,
Malware & Spyware, Distributed Denial of Services, Advanced Persistent
Threat, Phishing & Spear Phishing), By Solution Type (Antivirus and
Antimalware, Risk and Compliance Management, Security Information and Event
Management, Distributed Denial-Of-Service Mitigation, Identity and Access
Management and Others), By Security Type (Network Security, Application
Security, Device Security, Others), By Deployment (On-Premises, Cloud-based),
By End-User (Hospitals, Pharmaceuticals and Biotechnology Industries, Healthcare
Payers), and By Region (North America, Europe, Asia Pacific, Latin America, and
Middle East & Africa) - Trends, Analysis and Forecast till 2032”
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Key Market Insights from the report:
Healthcare Cyber Security Market accounted
for US$ 13.9 billion in 2022 and is estimated to be US$ 51.7 billion by 2032
and is anticipated to register a CAGR of 18.8%. The Healthcare Cyber
Security Market is segmented based on threat, solution type, security
type, deployment, end-users, and region.
Based
on threat, the Healthcare Cyber Security Market is segmented into Ransomware,
Malware & Spyware, Distributed Denial of Services, Advanced Persistent
Threat, and Phishing & Spear Phishing.
·
Based
on solution type, the target market is classified into Antivirus and
Antimalware, Risk and Compliance Management, Security Information and Event
Management, Distributed Denial-Of-Service Mitigation, Identity and Access
Management and Others.
·
Based
on security type, the Healthcare Cyber Security Market is segmented into
Network Security, Application Security, Device Security, Others.
·
Based
on deployment, the target market is classified into On-Premises, Cloud-based.
·
Based
on end-user, the Healthcare Cyber Security Market is segmented into Hospitals,
Pharmaceuticals and Biotechnology Industries, Healthcare Payers.
·
By Region, the Healthcare Cyber Security Market is segmented
into North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa.
Competitive Landscape & their strategies
of Healthcare Cyber Security Market:
The prominent players operating in the Healthcare Cyber Security
Market includes, Symantec, Cisco System, Inc., Palo Alto Networks,
Inc., NortonLifeLock Inc., Check Point Software Technologies Ltd., Fortinet,
Inc., FireEye, Inc., Sophos Ltd, Juniper Networks, Inc., IBM Corporation. The
market provides detailed information regarding the industrial base,
productivity, strengths, manufacturers, and recent trends which will help
companies enlarge the businesses and promote financial growth. Furthermore, the
report exhibits dynamic factors including segments, sub-segments, regional marketplaces,
competition, dominant key players, and market forecasts. In addition, the
market includes recent collaborations, mergers, acquisitions, and partnerships
along with regulatory frameworks across different regions impacting the market
trajectory. Recent technological advances and innovations influencing the
global market are included in the report.
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