Global Healthcare Cybersecurity Market : An Emerging Hint of Opportunity due to COVID-19 | IBM, Kaspersky Lab, MacAfee, Palo Alto Networks

Latest added Healthcare Cybersecurity Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Cisco Systems., FireEye, IBM, Palo Alto Networks, Fortified Health Security and McAfee. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

This report studies the Healthcare Cybersecurity Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Healthcare Cybersecurity Market by companies, region, type and end-use industry.

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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Healthcare Cybersecurity Market, By Solution (Identity and Access Management, Risk and Compliance Management, Antivirus and Antimalware, Security Information and Event Management, Intrusion Detection System (IDS)/Intrusion Prevention System), End User (Pharmaceuticals and Biotechnology, Health Insurance, Hospitals) and Geography – Global Forecast to 2026”. Early buyers will get 10% customization on study.

To Avail deep insights of Healthcare Cybersecurity Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Healthcare Cybersecurity Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

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Healthcare Cyber Security Market Overview:

The healthcare cybersecurity market size is projected to reach USD 25.2 Billion by 2027, from USD 8.4 billion in 2020 growing at a CAGR of 20.2% during 2021-2027.

Healthcare Cyber Security Market incorporates adoption of cyber security solutions and services by healthcare organizations to protect their patient and hospital information from data breaches and cyber-attacks. The service segment includes end user spending on consulting, designing & integration, risk assessment, and training. The solution segment includes deployment of healthcare cyber security solutions such as breach detection, business continuity & disaster recovery, cloud & data centers, data loss protection, identity & access management, mobile devices, and risk & compliance management cyber security solutions in healthcare organizations across the globe.

Introduction of supportive government regulations and acts to protect patient information from data breaches, increase in incidence of cyber-attacks, and rise in demand for cloud services drive the need for advanced cyber security solutions. However, dearth of trained professionals restricts the market growth to some extent.

The report includes the study of the healthcare cyber security market focusing on various growth prospects and restraints, based on the regional analysis. The study highlights Porter’s Five Forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers.

Key players operating in the healthcare cybersecurity industry include 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.

Segment Overview

The healthcare cyber security market is segmented on the basis of type, security type, and region. Based on the type, the market is bifurcated into service and solutions. By security type, it is divided into application security, cloud security, healthcare security, network security, wireless security, and others. The network security segment dominated the market in 2016, owing to increase in awareness and end-user spending on advanced network security solutions such as DDoS mitigation solutions and access control solutions to ensure protection.

Geographically, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Rise in awareness among healthcare organizations and increase in end-user spending on enhanced cyber security solutions and services, owing to increase in number of cyber-attacks, are projected to fuel to the market growth in this region.

The following graph signifies the growth potential of the healthcare cyber security market by security type. The cloud security segment is projected to grow at the highest CAGR, owing to the increase in adoption of cyber security solutions and services.

  • Increase in Cyber-attacks

A growing concern faced by the healthcare sector is the rise in number of cyber-attacks due to limited security measures, which, in turn, is expected to increase the adoption of security solutions. For instance, in 2015, Beacon Health Systems was targeted in a cyber-attack, wherein the patient’s personal and protected health information was hacked.

  • Regulatory Requirements and Government Norms

Introduction of supportive government regulations and acts to protect patient information from data breaches is encouraging healthcare providers to deploy advanced cyber security solutions to protect their healthcare data. For instance, The Government of U.S. enacted “the Health Insurance Portability and Accountability Act (HIPAA)” to encourage healthcare organizations to keep healthcare data secure and confidential.

  • Increase in Adoption of Mobile Device Applications and Platforms

Sales of mobile device and their penetration are growing rapidly owing to the increase in acceptance of bring your own device (BYOD) among healthcare organizations. The variety of services, applications, and functions available on mobile devices leads to large amount of data being stored on devices and transferred to and from devices. Most of the data stored on mobile devices include sensitive information, such as credit card numbers, user names, and passwords. This growth in dependency on mobile devices encourages organizations to implement effective cyber security solutions, such as IAM, asset management, UTM, and monitoring and analytics.

  • Need for Strong Authentication Methods

Healthcare organizations require strong authentication functionality to ensure that authentic employees access internal networks or specific applications. To avoid the threats of password-based authentication, enterprises progressively have moved to multi-factor authentication. Multi-factor authentication is generally performed by adding another element to the traditional user name and password. This could be hardware and software token, a biometric check, or a device authentication step. This implementation of these authentication techniques to reduce the risk of cyber threats encourages users to adopt effective cyber security solutions.

Key Benefits

  • The study provides an in-depth analysis of the healthcare cyber security industry, with current and future trends to elucidate the imminent investment pockets.
  • Information regarding key drivers, restraints, and opportunities coupled with their impact analysis is provided.
  • Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the market.
  • The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.

Healthcare Cyber Security Market Key Segments:

The healthcare cyber security market is segmented based on type, Solution, and geography.

By Solution

  • Identity and Access Management
  • Risk and Compliance Management
  • Antivirus and Antimalware
  • Security Information and Event Management
  • Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
  • Other Type of Solutions

By End User

  • Pharmaceuticals and Biotechnology
  • Health Insurance
  • Hospitals
  • Other End Users

By Geography

  • Europe
  • Asia-Pacific
  • North America
  • South America
  • Rest of the World

Key Market Players Profiled in the Report

  • Cisco Systems, Inc.
  • FireEye, Inc.
  • IBM Corporation
  • Kaspersky Lab
  • Lockheed Martin Corporation
  • MacAfee, Inc.
  • Northrop Grumma Corporation
  • Palo Alto Networks, Inc.
  • Sensato
  • Symantec Corporation

All viewpoints in the report are based on iterative validation by engaging influencer, experts of the market, whose opinions supersede all other research methodologies. Both primary and secondary approach are used and detailed product portfolio / service offering were analysed and have been presented in a separate chapter of competitive landscape along with company profile.

Detailed Insights on Market Concentration Rate:
CR4, CR8 and HHI Index Analysis of Overall Market
Comparative Market Share Analysis (Y-o-Y)
Major Companies
Emerging Players – Heat Map Analysis

MarketDigits MR also offers Custom Research services providing focused, comprehensive and tailored research according to clientele objectives. Thanks for reading this article; you can also get individual chapter wise section or region wise report like North America, Europe or Asia.

Table of Contents
1 Market Overview
1.1 Global Healthcare Cybersecurity Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.4 Market Analysis by Regions
1.5 Market Dynamics
1.5.1 Market Opportunities
1.5.2 Market Risk
1.5.3 Market Driving Force

2 Manufacturers Profiles
2.1.1 Business Overview
2.1.2 Healthcare Cybersecurity Type and Applications
2.1.3 Healthcare Cybersecurity Sales, Price, Revenue, Gross Margin and Market Share (2021-2027)

3 Global Healthcare Cybersecurity Market Competition, by Manufacturer
4 Global Healthcare Cybersecurity Market Analysis by Regions
5 Region 1, Type, Application and Manufacturers
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10 Global Healthcare Cybersecurity Market Segment by Type
11 Healthcare Cybersecurity Market Segment by Application
12 Healthcare Cybersecurity Market Forecast (2021-2027)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
15 Appendix
….Continued

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