According to the report, the global cyber security in healthcare market was valued at approximately USD 6.6 billion in 2017 and is expected to generate revenue of around USD 10.7 billion by the end of 2024, growing at a CAGR of around 7.1% between 2018 and 2024.
New York, NY, Nov. 30, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Cyber Security in Healthcare Market by Deployment (On-Premise and Cloud-Based), by Security Type (Application Security, Cloud Security, Content Security, Endpoint Security, Network Security, and Wireless Security), and by End-User (Pharmaceutical & Chemical Manufactures, Medical Device Companies, Health Insurance Companies, Hospitals & Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global cyber security in healthcare market was valued at approximately USD 6.6 billion in 2017 and is expected to generate revenue of around USD 10.7 billion by the end of 2024, growing at a CAGR of around 7.1% between 2018 and 2024.
Cyber security refers to the protection of internet-connected systems, including hardware, software, and data, from cyber-attacks. All the data, including electronic records and patient records, available on any device are a target for cyber-attacks. Data breach is a major concern, as several instances of data thefts and data breach have occurred since the introduction of connected medical devices technology. In the U.S., FDA’s recently released final guidance on the post-market management of cyber security in medical devices is a part of the FDA’s constant efforts to ensure safety and efficacy of medical devices, as they encounter cyber threats, at all stages in the devices’ lifecycle. Healthcare is vulnerable due to the historic lack of investments for cyber security, vulnerabilities in existing technology, and staff behavior. It has become increasingly clear that cyber security is a risk factor for healthcare data. Attacks can compromise not only networks and data but also threaten applications and services supporting critical patient care systems.
Browse through 54 Tables & 31 Figures spread over 110 Pages and in-depth TOC on “Global Cyber Security in Healthcare Market Size, Share 2017: Industry Trends, Growth Analysis and Forecast, 2024”.
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Major factors driving the growth of cyber security in healthcare market are an increase in cyber-attacks, increased use of laptops, mobiles, and smartphones with healthcare applications, and the introduction of advanced technology solutions. Moreover, an increase in the number of government regulations and increased focus on IT and its use in healthcare are anticipated to gain traction in the forecast period. Furthermore, increased use of cloud services in hospitals to maintain and provide quick access to patient records are also projected to promote the growth of cyber security in healthcare market. Cloud services offer advanced technical solutions at a reasonable price as compared to on-premise hardware and software, but security and privacy issues related to the implementation of such paradigms should not be undermined. According to a recent study, the installed base of such interconnected medical devices accounted around USD 17.5 Billion, in 2016. However, lack of awareness and shortage of trained professionals might hamper the growth of cyber security in healthcare market.
The cyber security in healthcare market is bifurcated on the basis of deployment into on-premise and cloud-based. The cloud-based segment is anticipated to experience a significant growth rate in the forecast timeframe. The security type segment is divided into application security, cloud security, content security, endpoint security, network security, and wireless security. Cloud security segment is anticipated to experience significant growth in the forecast timeframe. The end-user segment is divided into pharmaceutical and chemical manufacturers, medical device companies, health insurance companies, hospitals and clinics, and others. Hospitals and Clinics segment is expected to experience a significant growth rate in the forecast timeframe.
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North America and Europe are anticipated to be the leading regions for cyber security in healthcare market globally. North America held major market share and accounted for around 40% revenue share in 2015. The presence of advanced healthcare infrastructure in developed countries, such as the U.S. and Canada, is fuelling this region’s market growth. Furthermore, huge investments related to IT infrastructure, research and development activities, increase in the awareness among people, and increased use of cloud services are expected to promote the growth of cyber security in healthcare market in the upcoming years.
Asia Pacific is projected to showcase a high growth rate in the cyber security in healthcare market and grow at the higher CAGR as compared to other regions. Increased awareness in countries like India, China, and Japan has majorly impacted the growth of cyber security in healthcare market in this region. Moreover, rising aging population, large patient pool, and rising healthcare infrastructure due to initiatives were taken by the government and private companies to promote and increase the use of IT in healthcare are also driving the growth for cyber security in healthcare market in this region.
Browse the full “Cyber Security in Healthcare Market by Deployment (On-Premise and Cloud-Based), by Security Type (Application Security, Cloud Security, Content Security, Endpoint Security, Network Security, and Wireless Security), and by End-User (Pharmaceutical & Chemical Manufactures, Medical Device Companies, Health Insurance Companies, Hospitals & Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024” report at https://www.zionmarketresearch.com/report/cyber-security-healthcare-market
The Middle East and Africa and Latin America are also likely to be potential markets for cyber security in healthcare, owing to the opportunities provided by the government to companies to increase awareness among people and discover the untapped areas of IT in healthcare for improved patient health in these regions.
Some leading players of the global cyber security in healthcare market include Symantec Corporation, Sensato Cybersecurity Solutions, ForgeRock, Inc., Northrop Grumman Corporation, Lockheed Martin Corporation, WhiteHat Security, Inc., Palo Alto Networks, Inc., AO Kaspersky Lab, IBM Corporation, Trend Micro Incorporated, Trend Micro Incorporated, Axway, CORL Technologies, FireEye, Inc., Flexera, Cisco Systems, Inc., Biscom, Inc., Computer Sciences Corporation, Booz Allen Hamilton, Inc., and McAfee LLC.
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This report segments the global cyber security in healthcare market as follows:
Global Cyber Security in Healthcare Market: Deployment Segment Analysis
- On-Premise
- Cloud-Based
Global Cyber Security in Healthcare Market: Security Type Segment Analysis
- Application Security
- Cloud Security
- Content Security
- Endpoint Security
- Network Security
- Wireless Security
Global Cyber Security in Healthcare Market: End-User Segment Analysis
- Pharmaceutical & Chemical Manufactures
- Medical Device Companies
- Health Insurance Companies
- Hospitals & Clinics
- Others (Research Institutes, Cell Banks, etc.)
Global Cyber Security in Healthcare Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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