The global Healthcare Cyber Security market gathered revenue around USD 11.0 Billion in 2020 and market is set to grow USD 38.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 17.8% during the prediction period 2021 to 2027.
Growth Factors:
The healthcare industry,raise in threats, and concern for privacy and security are contributing to the growth of healthcare cyber security. The increase in cases of cyberattacks and data breaches globally has raised the concern thereby, increasing demand for cyber security. For instance, the Secretary of U.S. Department of Health and Human Services (HHS) Breach of Unsecured Protected Health Information listed 592 breaches of unsecured protected health data affecting more than 500 individuals within the last two years that are currently under investigation by the Office for Civil Rights. 306 of the breaches were submitted in 2020.
The increasing digitalization and penetration of the internet are increasing the chances of the cyberattack healthcare industry is the most vulnerable to cyberattacks due to the valuable data it owns. Various cyberattacks are witnessed by the healthcare sector. For instance, the recent cyberattacks on Ireland's Department of Health and Health Service Executive (HSE) were witnessed. The HSE was impacted by a human-operated ‘Conti’ ransomware attack which severely disabled several HSE systems and necessitated the shutdown of the majority of its other systems. Also, the Federal Bureau of Investigation (FBI) and Cybersecurity and Infrastructure Security Agency (CISA) issued a warning for escalating these attacks. THE FBI and CISA observed Conti ransomware is used in more than 400 cyberattacks in the U.S. and worldwide.
Furthermore, technological advancements in the development of different products to control cyberattacks and safeguard the data are expected to boost market growth. For instance, in February 2020, GE Healthcare introduced a new cyber security solution known as Skeye for hospitals for detecting, analyzing, and responding to security threats in real-time.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Healthcare Cyber Security market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Healthcare Cyber Security market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
Report Scope | Details |
Market Size | USD 38.9 Billion by 2027 |
Growth Rate | CAR 17.8% From 2021 to 2027 |
Base Year | 2020 |
Forecast Period | 2021 to 2027 |
Largest Market | North America |
Fastest Growing Market | Asia Pacific |
Segments Covered | Type of solution, type of threat, end-use and Region |
Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
Companies Mentioned | Cisco; IBM; FireEye; Symantec; Trend Micro; MacAfee; Intel; Kaspersky; Lockheed Martin; Northrop Grumman. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Healthcare Cyber Security market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
As of 2020, North America dominated the market for healthcare cyber security and accounted for the largest revenue share of 42.0%. The key attributing factors for the market growth are the presence of key players and the increased application of cyber security in healthcare organizations. The increasing investment in cyber security and technological advancement is adding fuel to the market. Furthermore, the advanced healthcare infrastructure is attributing to market growth. Also, the launch of innovative products to safeguard the data in the healthcare industry is contributing to market growth. For instance, in 2018, Cisco released the latest version of the “Cisco Umbrella”. It was deployed in the University of Kansas Hospital to protect medical devices and financial information from ransomware.
In Asia Pacific, the market for healthcare cyber security is anticipated to witness lucrative growth over the forecast period due to the increased adoption and penetration of the internet in the healthcare industry. Moreover, the increase in digitalization and adoption of Electronic Health Records (EHRs), wireless medical devices, and telemedicine is fueling the market growth. Also, the increasing cyberattacks in the region would propel market growth over the forecast period.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Healthcare Cyber Security Market include: Cisco; IBM; FireEye; Symantec; Trend Micro; MacAfee; Intel; Kaspersky; Lockheed Martin; Northrop Grumman
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Healthcare Cyber Security market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Healthcare Cyber Security market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Healthcare Cyber Security markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Healthcare Cyber Security market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Healthcare Cyber Security Market, By Type of Solution
7.1. Healthcare Cyber Security Market, By Type of Solution, 2021-2027
7.1.1. Identity and Access Management
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Risk and Compliance Management
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Antivirus and Antimalware
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. DDoS Mitigation
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Security Information and Event Management
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Intrusion Detection System/ Intrusion Prevention System
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Others
7.1.7.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Healthcare Cyber Security Market, By Type of Threat
8.1. Healthcare Cyber Security Market, By Type of Threat, 2021-2027
8.1.1. Malware
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. DDoS
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Advanced Persistent Threat
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Spyware
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Lost or Stolen Devices
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Healthcare Cyber Security Market, By End-use
9.1. Healthcare Cyber Security Market, By End-use, 2021-2027
9.1.1. Pharma & Chemicals
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Medical Devices
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Health Insurance
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Hospitals
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Healthcare Cyber Security Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.1.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.1.3. Market Revenue and Forecast, By End-use (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.1.4.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.1.4.3. Market Revenue and Forecast, By End-use (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.1.5.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.1.5.3. Market Revenue and Forecast, By End-use (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.2.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.2.3. Market Revenue and Forecast, By End-use (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.2.4.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.2.4.3. Market Revenue and Forecast, By End-use (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.2.5.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.2.5.3. Market Revenue and Forecast, By End-use (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.2.6.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.2.6.3. Market Revenue and Forecast, By End-use (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.2.7.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.2.7.3. Market Revenue and Forecast, By End-use (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.3.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.3.3. Market Revenue and Forecast, By End-use (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.3.4.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.3.4.3. Market Revenue and Forecast, By End-use (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.3.5.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.3.5.3. Market Revenue and Forecast, By End-use (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.3.6.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.3.6.3. Market Revenue and Forecast, By End-use (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.3.7.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.3.7.3. Market Revenue and Forecast, By End-use (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.4.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.4.3. Market Revenue and Forecast, By End-use (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.4.4.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.4.4.3. Market Revenue and Forecast, By End-use (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.4.5.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.4.5.3. Market Revenue and Forecast, By End-use (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.4.6.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.4.6.3. Market Revenue and Forecast, By End-use (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.4.7.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.4.7.3. Market Revenue and Forecast, By End-use (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.5.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.5.3. Market Revenue and Forecast, By End-use (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.5.4.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.5.4.3. Market Revenue and Forecast, By End-use (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, By Type of Solution (2016-2027)
10.5.5.2. Market Revenue and Forecast, By Type of Threat (2016-2027)
10.5.5.3. Market Revenue and Forecast, By End-use (2016-2027)
Chapter 11. Company Profiles
11.1. Cisco
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. IBM
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. FireEye
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Symantec
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Trend Micro
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. MacAfee
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Intel
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Kaspersky
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Lockheed Martin
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Northrop Grumman
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms