Healthcare Cybersecurity Market Report 2022-2030 Global Technology Type Size, Emerging Price Trends, Growth Insights, Covid-19 Impact on Revenue Share

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“According to the research report published by Polaris Market Research, the Global Healthcare Cybersecurity Market Size Is Expected To Reach USD 51.40 Billion By 2030, at a CAGR of 17.5% during the forecast period.”

Healthcare cybersecurity in the area of information technology that is used to protect valuable insights, healthcare information, and patients’ personal information. Healthcare cybersecurity has become important for any organization in the medical industry. Healthcare institutions utilize cyber security services and solutions provided by healthcare cyber security firms to avoid threats and cyber-attacks to the database of hospitals and patient information.

The surge in the number of cyber-attacks and the increase in the adoption of mobile device applications and platforms are the prominent factors driving the growth of the global healthcare cybersecurity market. Also, the rising adoption of cloud-based solutions in the healthcare sector coupled adoption of 5G technology are expected to accelerate the growth of the healthcare cybersecurity market during the projected timer period.

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Top Global Market Players:

  • Checkpoint Software Technologies Ltd.
  • Broadcom Inc.
  • Cisco Systems Inc.
  • FireEye Inc.
  • Fortified Health Security
  • Crowdstrike Holdings Inc
  • Fortinet Inc.
  • IBM Corp.
  • Intel Corporation
  • Imperva
  • Juniper Networks Inc.
  • Lockheed Martin Corp
  • Kaspersky Lab
  • LogRhythm Inc.
  • Medigate
  • McAfee LLC
  • Northrop Grumman Corporation
  • NortonLifeLock Inc.
  • Palo Alto Networks
  • Sophos Ltd.
  • Symantec Corporation
  • Trend Micro Inc.

Healthcare Cybersecurity Market: Growth Drivers

The increase in cybercrime, a rise in the healthcare sector’s budget, and increased knowledge about cybersecurity in the medical sector are some of the major factors fuelling the growth of the healthcare cybersecurity market.  Growing demand for cloud services also fuels market growth.  The cybersecurity market has seen significant development over the previous few decades, thus expected to boost the healthcare cybersecurity market growth.

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Moreover, the rising initiatives by regulatory and government policies for improving security standards of the healthcare industry are anticipated to flourish the growth of the healthcare cyber security market growth. In addition, the use of Internet of Medical Things devices in medical fields is also contributing to the rising demand for advanced healthcare cyber security solutions. Factors such as growing digitization and increasing use of smartphones as an attack vector are further expected to propel the growth of the healthcare cybersecurity market.

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Healthcare Cybersecurity Market: Report Segmentation

Insight by Type of Threat

Based on the type of threat, the malware segment accounted for the largest share in 2021 and is anticipated to dominate the market during the forecast period. The healthcare industry has several cybersecurity challenges.  Ransomware is a type of malware that prevents users from accessing their system or personal files. In 2020, there were at least 92 US healthcare ransomware attacks 2020 which led to an average ransom demand of USD 169,446. Furthermore, the advanced persistence threat segment records lucrative growth and is expected to witness a higher CAGR over the forecast period.

Healthcare Cybersecurity Market: Geographic Overview

Based on geography, North America accounted for the largest market share in 2021, owing to the presence of several key players in the region and the increased application of cyber security in healthcare organizations. A growing number of strict healthcare privacy policies are contributing to the growth of the healthcare cybersecurity market in the region. Also, the rising expenditure on cyber security and technological development is accelerating market expansion.

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Moreover, Asia Pacific is anticipated to generate a high CAGR in the global healthcare cybersecurity market in 2021 due to the increased digitalization and adoption of Electronic Health Records (EHRs). Growing technological advancements and launches of advanced security systems for healthcare by significant players are some prominent factors expected to fuel the market growth during the forecast period.

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Recent Developments

  • In February 2021, Trend Micro, a Japanese multinational cyber security software company, launched its Trend Micro Vision One extended detection and response platform.
  • In November 2021, IBM announced its plan to extend its cyber security and response capabilities by acquiring ReaQta, a Dutch cyber security threat detection and response company.

Healthcare Cybersecurity Market: By Type of Solution Outlook

  • Identity and Access Management
  • Risk and Compliance Management
  • Antivirus and Antimalware
  • DDoS Mitigation
  • Security Information and Event Management
  • Intrusion Detection System/ Intrusion Prevention System
  • Others

Healthcare Cybersecurity Market: By Type of Threat Outlook

  • Malware
  • DDoS
  • Advanced Persistent Threat
  • Spyware
  • Lost or Stolen Devices
  • Others

Healthcare Cybersecurity Market: By End-use Outlook

  • Pharma& Chemicals
  • Medical Devices
  • Health Insurance
  • Hospitals
  • Others

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