Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Healthcare Cyber Security Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
This market analysis and forecast for the healthcare cyber security industry reflects a period of significant growth and transformation expected from 2024 to 2034. According to the report, the market size was valued at approximately USD 17.55 billion in 2023 and is projected to escalate to a striking USD 113.44 billion by 2034, demonstrating a robust CAGR of 18.49%. This exponential growth is attributed to an upswing in cyber-attacks and rising concerns about data privacy and security in the healthcare sector.
Rise in Cyber-Attack Incidences Fueling Market Growth
The report highlights a notable surge in cyber-attacks as a key catalyst driving the demand for more sophisticated healthcare cybersecurity solutions. Market players are vigorously committing to cybersecurity initiatives, offering a range of services designed to protect healthcare facilities and sensitive patient data against the growing threat landscape. Data breaches within the healthcare sector are increasingly common, prompting a paradigm shift towards adoption of robust cyber security measures.
Investments in Advanced Cyber Security Measures Accelerate Market Expansion
As the incorporation of cloud-based solutions, expanded use of connected devices, and the advent of 5G technology become pervasive within the healthcare industry, the demand for advanced cybersecurity infrastructure is experiencing an upsurge. Ground-breaking developments and strategic partnerships among market players, such as the collaboration of leading technology companies with healthcare institutions, are significantly fuelling market expansion.
Forecasted Trends and Segment Insights
- Threat Landscape: Malware held the highest revenue in 2023, reflecting the healthcare sector's vulnerability to these attacks. The forecast anticipates advanced persistent threat segments growing rapidly due to an increase in sophisticated cybercrimes.
- Security Breakdown: Network security was a leading segment, with endpoint security slated to expand rapidly owing to heightened demand for advanced software solutions.
- Deployment Insights: On-premises solutions dominated the market, while cloud-based deployments are expected to witness the fastest growth during the forecasted period.
- Solution Specifics: Risk and compliance management proved to be a major revenue driver, whereas antivirus and antimalware solutions are expected to grow rapidly.
- End-User Dynamics: Hospitals contributed significantly to market revenues due to their high investment in cybersecurity, with health insurance companies projected to catch up quickly.
Regional Market Performance and Prospects
North America stands out for holding the largest share in the healthcare cyber security market, marked by rapid technological adoption and cutting-edge healthcare infrastructure. Meanwhile, the Asia Pacific region is forecasted to achieve the fastest growth rate, thanks to increased digital integration in the healthcare sector and rising cyber-attacks.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $17.55 Billion |
| Forecasted Market Value (USD) by 2034 | $113.44 Billion |
| Compound Annual Growth Rate | 18.4% |
| Regions Covered | Global |
Companies Mentioned
- Intel
- IBM
- Fortinet Inc.
- Cisco
- Trend Micro
- FireEye
- Medigate Ltd.
- MacAfee
- Lockheed Martin
- Symantec
- Imperva Inc.
- Northrop Grumman
For more information about this report visit https://www.researchandmarkets.com/r/s10gqd
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