Healthcare Cybersecurity Market Introduction and Overview
According to SPER Market Research, the Global Healthcare Cybersecurity Market is estimated to reach USD 71.92 Billion by 2033 with a CAGR of 16.1%.
The report includes an in-depth analysis of the Global Healthcare Cybersecurity Market, including market size and trends, product mix, applications, and supplier analysis. Information security and cybersecurity are terms that are frequently used interchangeably. Cybersecurity is the umbrella term for a variety of procedures, tools, and techniques intended to shield data, networks, and digital systems against harm, illegal access, and cyberattacks. It involves ensuring that information in the public and private sectors is available, confidential, and of high quality. Cybersecurity is essential to reducing risks and maintaining stakeholder trust as organisations and governments digitise their activities.
- July 2022: Clearwater, a supplier of cyber risk management and HIPAA compliance solutions, purchased Tech Lock. This made it possible for the business to provide managed detection and response (MDR) services continuously. To detect and address cyber threats, the MDR system makes use of a unique security orchestration and response (SOAR) engine. In addition, Clearwater plans to use industry-certified assessors from Tech Lock to provide PCI, HITRUST, and CMMC exams and certifications.
- July 2022: Google Cloud became an ambassador partner of the Health Information Sharing and Analysis Centre (Health-ISAC) in order to collaborate with leaders in the industry to protect and safeguard the healthcare sector by utilising its vast resources and team of professionals. In response, Google established the Google Cybersecurity Action Team (GCAT), whose mission is to coordinate security resources with other resources in order to support the healthcare industry's efforts to improve cybersecurity.
Market Opportunities and Challenges
Healthcare systems in underdeveloped countries frequently face obstacles such as inadequate funding, insufficient cybersecurity, and inadequate infrastructure, which makes them appealing targets for cybercriminals looking to take advantage of weaknesses and obtain private patient information illegally. Healthcare personnel working in these environments might not be trained in cybersecurity best practices or be aware of security dangers. This increases the possibility of human error-related data breaches, such as falling for phishing schemes.
Healthcare cyberattacks are on the rise in both developed and developing nations, involving sophisticated strategies such as phishing and ransomware to breach supply chains and insider threats. These cyberattacks take advantage of holes in healthcare systems to obtain patient information, interfere with daily operations, and demand ransom payments. Developing nations are specifically targeted since they may have less robust security protocols. Adherence to laws such as HIPAA and GDPR is essential, since data breaches may result in significant monetary losses, harm to one's brand, and legal ramifications.
However, in order to satisfy the specific objectives and regulatory requirements of healthcare organisations, healthcare cybersecurity solutions frequently need to be customised. The expense of installing and maintaining cybersecurity safeguards is increased by the complexity of healthcare IT infrastructures, which include electronic health records (EHRs) and medical equipment. Strict laws like HIPAA and GDPR, which require certain cybersecurity measures to protect patient data, must be followed by healthcare organisations. However, there are serious hazards associated with a lack of qualified personnel to manage cybersecurity systems. Organisations struggle to apply best practices, identify threats, and react quickly to incidents when they lack competent individuals. The fragmentation of vendors in the global health cybersecurity market poses obstacles to integration, which may lead to compatibility problems and increased complexity. Insights into market dynamics, regulatory implications, and development prospects are provided in this study to support well-informed decision-making for market expansion.
Market Competitive Landscape
A small number of significant companies control the majority of the rather competitive healthcare cybersecurity sector. Businesses in this industry invest a lot of money in research and development. While upgrading portfolios is typical to attract customers and acquire a competitive edge, strategies including cooperation, joint ventures, and mergers and acquisitions assist preserve competitiveness. The major key players in the Global Healthcare Cybersecurity Market are: Broadcom Limited, Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., IBM Corporation, Intel Security (Intel Corporation), Mcafee, LLC, Palo Alto Networks, Trend Micro Incorporated, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Security Type, By Type of Threat, By End User
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | AO Kaspersky Lab, Cisco Systems, Inc., Fortinet, Inc., IBM, Imperva, Intel Corporation, Lockheed Martin Corporation, Marubeni Information Systems Co., Ltd., McAfee, LLC., Medigate (Claroty), Northrop Grumman, Symantec Corporation, Trend Micro Incorporated, Others
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COVID-19 Impact on Global Healthcare Cybersecurity Market
The market for healthcare cybersecurity has been significantly impacted by the COVID-19 epidemic. The quick adoption of healthcare services and remote work has expanded the attack surface available to cybercriminals. Phishing and ransomware efforts related to COVID-19 surged against healthcare organisations. The pandemic brought to light the significance of strong cybersecurity protocols in the healthcare industry, prompting a rise in funding for cybersecurity solutions and educational initiatives.
Key Target Audience:
- Hospitals and Healthcare Facilities
- Healthcare Providers (Doctors, Nurses, Clinics)
- Health Insurance Companies
- Pharmaceutical Companies
- Medical Device Manufacturers
- Healthcare IT Companies
- Government Healthcare Agencies
- Healthcare Regulators and Compliance Authorities
- Research Institutions and Universities
- Patients and Healthcare Consumers
- Others
Our in-depth analysis of the Healthcare Cybersecurity Market includes the following segments:
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By Security Type:
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Services
Solutions
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By Type of Threat:
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Advanced Persistent Threat
DDoS
Lost or Stolen Devices
Malware
Spyware
Others
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By End Use:
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Hospitals
Medical Devices
Payers
Pharmaceuticals
Others
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Key Topics Covered in the Report
- Global Healthcare Cybersecurity Market Size (FY’2024-FY’2033)
- Overview of Global Healthcare Cybersecurity Market
- Segmentation of Global Healthcare Cybersecurity Market By Security Type (Services, Solutions)
- Segmentation of Global Healthcare Cybersecurity Market By Type of Threat (Advanced Persistent Threat, DDoS, Lost or Stolen Devices, Malware, Spyware, Others)
- Segmentation of Global Healthcare Cybersecurity Market By End Use (Hospitals, Medical Devices, Payers, Pharmaceuticals, Others)
- Statistical Snap of Global Healthcare Cybersecurity Market
- Expansion Analysis of Global Healthcare Cybersecurity Market
- Problems and Obstacles in Global Healthcare Cybersecurity Market
- Competitive Landscape in the Global Healthcare Cybersecurity Market
- Impact of COVID-19 and Demonetization on Global Healthcare Cybersecurity Market
- Details on Current Investment in Global Healthcare Cybersecurity Market
- Competitive Analysis of Global Healthcare Cybersecurity Market
- Prominent Players in the Global Healthcare Cybersecurity Market
- SWOT Analysis of Global Healthcare Cybersecurity Market
- Global Healthcare Cybersecurity Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Healthcare Cybersecurity Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Healthcare Cybersecurity Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Healthcare Cybersecurity Market
7. Global Healthcare Cybersecurity Market, By Security Type (USD Million)
7.1. Global Healthcare Cybersecurity Market Value Share and Forecast, By Security Type, 2024-2033
7.2. Services
7.3. Solutions
7.3.1. Antivirus and Antimalware
7.3.2. DDoS Mitigation
7.3.3. Identity and Access Management
7.3.4. Intrusion Detection System/ Intrusion Prevention System
7.3.5. Risk and Compliance Management
7.3.6. Security Information and Event Management
8. Global Healthcare Cybersecurity Market, By Type of Threat (USD Million)
8.1. Global Healthcare Cybersecurity Market Value Share and Forecast, By Type of Threat, 2024-2033
8.2. Advanced Persistent Threat
8.3. DDoS
8.4. Lost or Stolen Devices
8.5. Malware
8.6. Spyware
8.7. Others
9. Global Healthcare Cybersecurity Market, By End Use (USD Million)
9.1. Global Healthcare Cybersecurity Market Value Share and Forecast, By End Use, 2024-2033
9.2. Hospitals
9.3. Medical Devices
9.4. Payers
9.5. Pharmaceuticals
9.6. Others
10. Global Healthcare Cybersecurity Market Forecast, 2020-2033 (USD Million)
10.1. Global Healthcare Cybersecurity Market Size and Market Share
11. Global Healthcare Cybersecurity Market, By Security Type, 2020-2033 (USD Million)
11.1. Global Healthcare Cybersecurity Market Size and Market Share By Security Type (2020-2026)
11.2. Global Healthcare Cybersecurity Market Size and Market Share By Security Type (2027-2033)
12. Global Healthcare Cybersecurity Market, By Type of Threat, 2020-2033 (USD Million)
12.1. Global Healthcare Cybersecurity Market Size and Market Share By Type of Threat (2020-2026)
12.2. Global Healthcare Cybersecurity Market Size and Market Share By Type of Threat (2027-2033)
13. Global Healthcare Cybersecurity Market, By End Use, 2020-2033 (USD Million)
13.1. Global Healthcare Cybersecurity Market Size and Market Share By End Use (2020-2026)
13.2. Global Healthcare Cybersecurity Market Size and Market Share By End Use (2027-2033)
14. Global Healthcare Cybersecurity Market, By Region, 2020-2033 (USD Million)
14.1. Global Healthcare Cybersecurity Market Size and Market Share By Region (2020-2026)
14.2. Global Healthcare Cybersecurity Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. AO Kaspersky Lab
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Cisco Systems, Inc
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Fortinet, Inc
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. IBM Corporation
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Imperva
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Intel Corporation
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Lockheed Martin Corporation
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Marubeni Information Systems Co., Ltd
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. McAfee, LLC
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Medigate (Claroty)
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Northrop Grumman
15.11.1. Company details
15.11.2. Financial outlook
15.11.3. Product summary
15.11.4. Recent developments
15.12. Symantec Corporation
15.12.1. Company details
15.12.2. Financial outlook
15.12.3. Product summary
15.12.4. Recent developments
15.13. Trend Micro Incorporated
15.13.1. Company details
15.13.2. Financial outlook
15.13.3. Product summary
15.13.4. Recent developments
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
