Sat, 01 Apr 2023

As per the report published by The Brainy Insights, the global healthcare cyber security market is expected to grow from USD 15.99 billion in 2022 to USD 70.55 billion by 2030, at a CAGR of 20.38% during the forecast period 2022-2030. The market revenue share was dominated by North America in 2022, contributing 37.24% of the market's overall revenue. The presence of large corporations and the increasing use of cyber security by healthcare organisations are the primary drivers of market expansion. The growing investment in technical advancement and cyber security is boosting the business. The modern healthcare infrastructure is also responsible for market expansion. Another element influencing market growth is the advent of unique gadgets to safeguard patient data in the healthcare industry. Cisco, for instance, created the most recent 'Cisco Umbrella' in 2018. At the University of Kansas Hospital, it was put into place to protect medical equipment and financial data from ransomware.

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Healthcare Cyber Security Market Size by Type of Threat (DDoS, Spyware, Malware, Lost or Stolen Devices, Advanced Persistent Threat, Others), End-Use (Medical Devices, Hospitals, Pharma & Chemicals, Health Insurance, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Report Scope & Segmentation:

Report Coverage

Details

Forecast Period

2022-2030

Forecast CAGR

20.38%

2030 Value Projection

USD 70.55 Billion

Base Year

2021

Historical Data

2019-2020

No. of Pages

230+

Segments Covered

Type of Threat, End-Use, Regions

Healthcare Cyber Security Market Growth Drivers

Increasing demand for cyber security in the healthcare sector

Leading companies in the industry include IBM, Symantec, MacAfee, Kaspersky, Northrop Grumman, Fortinet Inc, Cisco, Trend Micro, Imperva Inc, Lockheed Martin, Medigate Ltd, FireEye, Intel among others, offer more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The global healthcare cyber security market has been segmented based on the type of threat, end-use, and region. The type of threat segment is divided into DDoS, spyware, malware, lost or stolen devices, advanced persistent threats, and others. The malware segment dominated the market, with a market share of around 23.81% in 2022. In the healthcare industry, there are many issues with cyber security. These include malware that compromises system integrity and patient privacy, distributed denial of service (DDoS) attacks that hinder providers' ability to offer high-quality patient care, and other dangers. The most frequent malware assault is ransomware since hackers are familiar with it and prefer it. The end-use segment is divided into medical devices, hospitals, pharma & chemicals, health insurance, and others. In 2022, the hospitals' segment dominated the market, accounting for around 27.94% of global revenue. Hospitals are especially vulnerable to cyberattacks because they hold many patients' data. Additionally, these attacks become more frequent when a pandemic endangers patient care and personal information. As a result, more people will use cyber security.

One of the main factors propelling the growth of the healthcare cybersecurity market is the rising demand for advanced cybersecurity solutions and privacy and the frequency and complexity of cyber threats. Another is the appearance of disruptive digital technologies across the healthcare sector. Factors including rising government investment in security, a growing need for cloud-based security solutions in the healthcare sector, an exponential rise in healthcare data breaches, and expanding 5G technology adoption are all boosting the market for healthcare cyber security.

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About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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Original Source of the original story >> Healthcare Cyber Security Market to Grow at CAGR of 20.38% through 2030: The Brainy Insights

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