New York, US, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Healthcare Cyber Security Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Healthcare Cyber Security Market Information by Threat Type, Solution Type, End User, and Region - Forecast till 2025”, the market is anticipated to reach USD 16,393.15 Million by 2025 at 11.82% CAGR.
Major Growth Drivers
Cyber security protects programs, systems, and networks of the healthcare sector from a variety of digital attacks. With high availability of various software, healthcare cyber security ensure that data related to health organizations, treatments and patients are safe and secure from cyberattacks as well as breaches. Over the years, cyberattacks and breaches have risen considerably, giving rise to the need for effective cybersecurity. This is expected to have a remarkable effect on the global healthcare cyber security market over the ensuing years.
The Health IT Security asserts that in 2019, close to 300,000 HealthEquity customers’ data was breached. Medical information across the healthcare network can be breached easily, using the latest malware as well as ransomware. Increased sophistication in these software types have raised the hackers’ ability, adding to the concerns of the healthcare sector. As a result, to ensure higher safety of medical data, healthcare professionals are progressively deploying advanced cyber security solutions.
Government support and the surging healthcare spending should further benefit the worldwide industry in subsequent years. Rising collaborations and partnerships between the reputed manufacturers and the digital firms to meet with the soaring consumer demand and needs will be a major opportunity for the global healthcare cyber security market.
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Competitive Landscape:
Established Manufacturers within the Global Healthcare Cyber Security Market are:
- Palo Alto Networks. Inc
- Symantec Corporation
- Atos SE
- Cisco
- McAfee
- IBM
- Intel Corporation
- FireEye Inc
- Kaspersky
- Northrop Grumman Corporation
To widen their global presence, most of these companies are coming up with novel and highly innovative solutions and products. They are adopting competitive strategies such as partnerships, acquisition, and collaborations, to elevate their positions in the global industry. To illustrate, in July 2021, Irdeto, a renowned name in digital platform security, partnered with Confinis, a well—known consulting company in the medical devices sector, to supply enhanced cybersecurity expertise to firms focused on designing connected medical devices. The partnership entails both the companies coming together to introduce a web-based assessment tool that helps medical device developers to analyze their cybersecurity preparedness, as per the European Medical Device Regulation as well as the European In Vitro Diagnostic Medical Device Regulation.
Market Restraints:
Less knowledge about the latest cybersecurity solutions across a few counties could be a major restraint for the global market in the near future.
COVID 19 Analysis
The COVID-19 outbreak has exposed the healthcare industry’s vulnerability to a large extent, with more and more cyber attackers leveraging the anxiety among patients as well as healthcare workers. With the burgeoning volumes of medical data, healthcare organizations are faced with a series of cyberattacks. Personal information including insurance information, regular health parameters, stored contacts and co-morbid health status, co-morbid health status, have become easy targets, raising the importance of cyber security solutions.
The pandemic has shed light on healthcare IT, as shortage of medical staff adding to the need for cybersecurity solutions.
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Market Segmentation
The types of threat considered in the report are ransomware, DDOS (distributed denial-of-service), ransomware, advanced persistent threat (APT), malware & spyware, as well as spear phishing. Ransomware is the biggest threat and has attained the top spot in the global healthcare cyber security market.
Solution types covered in the MRFR report are instruction detection system, antivirus & anti-malware, distributed denial of service, identity and access management, firewall or unified threat management, and more.
Top end-users of healthcare cyber security solutions are healthcare payers as well as healthcare providers. Given the rise in sophisticated cyberattacks faced by healthcare firms, government support, and usage of electronic health record systems, the healthcare providers segment has taken the lead in the global market.
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Regional Status
The American market has made a lot more progress compared to other regions, considering the extensive use of mobile devices and the popular bring your own device (BYOD) trend in healthcare organizations. The high dependency on internet and mobile devices has compelled healthcare organizations to adopt advanced cyber security solutions, including asset management, IAM, monitoring and analytics, and UTM. Also, highly reputed firms based in the region and the rapid entry of new start-ups, combined with well-developed healthcare infrastructure and high spending on information technology have raised the market demand. Significant penetration of cloud-based solutions, rising frequency and sophistication of cyberattacks, and the use of the latest digital technologies also enhance the market size in the region.
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