Dublin, May 24, 2023 (GLOBE NEWSWIRE) -- The "Global Healthcare Cybersecurity Market by Offering (Solutions and Services), Solution Type, Threat Type, Security Type, End Use Industry (Hospitals and Healthcare Facilities, Medical Device Manufacturers) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global healthcare cybersecurity market size is projected to grow from USD 18.2 billion in 2023 to USD 35.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 14.2%
The major factors driving the market growth include the rise in cyberattacks along with security and privacy concerns, the rising acceptance of lot and connected devices, and the growth in the deployment of cloud-based solutions in the healthcare sector.
By Security type, the application security segment holds the largest market size
The application security segment is gaining traction due to the increased use of APIs for data and application delivery in mobile, cloud, and IoMT. It is an important aspect of the healthcare cybersecurity market, as it includes healthcare applications, including electronic health record (EHR) systems, patient portals, and mobile health apps, also it stores and processes sensitive patient information.
Additionally, application security involves securing these applications from cyber threats, such as data breaches, hacking attempts, and unauthorized access. Thus, it can be concluded that the application security segment holds the largest market size during the forecasted period.
By Offering, the services segment to register the highest CAGR during the forecast period
The healthcare cybersecurity market is segmented based on solutions and services, of which the services segment is to grow at the highest CAGR during the forecasted period.
Healthcare organizations often turn to service providers to help them identify and mitigate potential vulnerabilities as they themselves lack the internal expertise and resources to manage cybersecurity risks. Thus, driving the healthcare cybersecurity services segment.
Additionally, the advantage of getting rid of several standalone legacy compliance tools is projected to drive the need for healthcare cybersecurity services. Also, the growing interest of organizations in integrated solution-related services would drive market growth. Apart from these, a huge presence of cybersecurity service providers boosts the cybersecurity market.
By services, the professional services segment is to grow at the largest market size during the forecast period
Professional services are provided to strategically help clients organize, design, analyze, implement, and manage technological systems. These services include consulting, training and education, design and implementation, risk and threat assessment, and support and maintenance and play a vital role in the healthcare cybersecurity ecosystem.
Furthermore, due to the presence of several vendors in the healthcare cybersecurity ecosystem, these services are prevalent in the healthcare cybersecurity market. Thus, the professional services segment is projected to hold a larger market share in the healthcare cybersecurity market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 357 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $18.2 Billion |
| Forecasted Market Value (USD) by 2028 | $35.3 Billion |
| Compound Annual Growth Rate | 14.2% |
| Regions Covered | Global |
Premium Insights
- Rising Adoption of IoT and Connected Devices to Drive Healthcare Cybersecurity Solutions
- Hospitals and Healthcare Facilities Segment and North America to Hold Largest Market Shares in 2023
- Solutions Segment to Hold Larger Market Share During Forecast Period
- Professional Services to Hold Largest Market Share in 2023
- Antivirus/Antimalware Segment to Hold Largest Market Share in 2023
- Ransomware Segment to Hold Largest Market Share in 2023
- Application Security Segment to Hold Largest Market Share in 2023
- Hospitals and Healthcare Facilities Segment to Hold Largest Market Share in 2023
- Asia-Pacific to Emerge as Best Market for Investments in Next Five Years
Market Dynamics
Drivers
- Increasing Cyberattacks and Concerns Related to Security and Privacy
- Rising Adoption of IoT and Connected Devices
- Increasing Adoption of Cloud-Based Solutions in Healthcare Industry
Restraints
- Security Budget Constraints in Developing Economies
- Insufficient Training and Dearth of Knowledgeable IT Staff
Opportunities
- Increasing Use of Healthcare IT Solutions in Outpatient Care Facilities
- IoT Security Plays Critical Role in Healthcare Cybersecurity Sector
Challenges
- Interoperability Issues in Healthcare Cybersecurity
- Vulnerability and Concern Related to Medical Data
Case Study Analysis
- Case Study 1: Safe Security Solution to Safeguard Storing, Processing, and Managing Phi of Molina Healthcare's Critical Applications
- Case Study 2: Atos Helped Leading Healthcare Firms Uncover Existing Hidden Cyber Threats
- Case Study 3: Nuvento Cybersecurity Solution Helped Drug Manufacturing Company from Ransomware
Technology Analysis
- Multi-Factor Authentication
- Virtual Reality and Augmented Reality
- Big Data and Predictive Analytics
- Internet of Medical Things
- Automated Diagnosis Using Artificial Intelligence
- Blockchain to Improve Security of Health Data
- Internet of Things and Smart Devices to Transform Patient Care
Tariff and Regulatory Landscape
- National Institute of Standards and Technology Framework
- California Consumer Privacy Act
- Iso/Iec 27001
- Personal Information Protection and Electronic Documents Act
- Payment Card Industry Data Security Standards
- Quality System Regulation
- Hitrust (Originally Health Information Trust) Common Security Framework
- Federal Information Processing Standards
- Gramm-Leach-Bliley Act of 1999
- European Union General Data Protection Regulation
- Service Organization Control 2 Compliance
- Hipaa Compliance
- Control Objectives for Information and Related Technology (Cobit)
Company Profiles
Key Players
- IBM
- Cisco
- Palo Alto Networks
- Check Point
- Fortinet
- Trend Micro
- Dell Emc
- Crowdstrike
- Kudelski Security
- Cloudwave
- Claroty
- Imperva
- Logrhythm
Other Players
- Kaspersky
- Sophos
- Juniper
- Forcepoint
- Verimatrix
- Forescout
- Imprivata
- Sailpoint
- Saviynt
- Jfrog
- Fortified
- Cleardata
- Cynerio
- Medcrypt
- Armis
- Cylera
- Zeguro
- Virta Labs
- Protenus
- Censinet
- Sternum
For more information about this report visit https://www.researchandmarkets.com/r/tijxdy
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