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Healthcare Cybersecurity Market 2021-2027 Revenue to Record Stable Growth | IBM, Kaspersky Lab, MacAfee, Palo Alto Networks

Healthcare Cybersecurity Market

MarketDigits MR recently added Global Healthcare Cybersecurity Market Study that gives deep analysis of current scenario of the Market size, demand, growth, trends, and forecast. Revenue for Healthcare Cybersecurity Market has grown substantially over the five years to 2020 as a result of strengthening macroeconomic conditions and healthier demand, however with current economic slowdown and Face-off with COVID-19 Industry Players are seeing Big Impact in operations and identifying ways to keep momentum. Healthcare Cybersecurity Market estimates rely extensively on both the volume and value and due to slowdown price fluctuation in widening demand and supply gap.

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If you are part of this market, then Get to Know how you are perceived in comparison to your competitors Cisco Systems., FireEye, IBM, Palo Alto Networks, Fortified Health Security and McAfee; Get an accurate view of your business in Healthcare Cybersecurity Marketplace with latest study published by MarketDigits.

Report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

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MarketDigits offers four types of research design:

  • Exploratory research design
  • Descriptive research
  • Quantitative research
  • Causal research

Healthcare Cyber Security Market Overview:

The healthcare cybersecurity market size is projected to reach USD 25.2 Billion by 2026, from USD 8.4 billion in 2020 growing at a CAGR of 20.2% during 2021-2026.

Healthcare Cyber Security Market incorporates adoption of cyber security solutions and services by healthcare organizations to protect their patient and hospital information from data breaches and cyber-attacks. The service segment includes end user spending on consulting, designing & integration, risk assessment, and training. The solution segment includes deployment of healthcare cyber security solutions such as breach detection, business continuity & disaster recovery, cloud & data centers, data loss protection, identity & access management, mobile devices, and risk & compliance management cyber security solutions in healthcare organizations across the globe.

Introduction of supportive government regulations and acts to protect patient information from data breaches, increase in incidence of cyber-attacks, and rise in demand for cloud services drive the need for advanced cyber security solutions. However, dearth of trained professionals restricts the market growth to some extent.

The report includes the study of the healthcare cyber security market focusing on various growth prospects and restraints, based on the regional analysis. The study highlights Porter’s Five Forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers.

Key players operating in the healthcare cybersecurity industry include Cisco Systems, Inc., FireEye, Inc., IBM Corporation, Kaspersky Lab, Lockheed Martin Corporation, MacAfee, Inc., Northrop Grumma Corporation, Palo Alto Networks, Inc., Sensato, and Symantec Corporation.

Segment Overview

The healthcare cyber security market is segmented on the basis of type, security type, and region. Based on the type, the market is bifurcated into service and solutions. By security type, it is divided into application security, cloud security, healthcare security, network security, wireless security, and others. The network security segment dominated the market in 2016, owing to increase in awareness and end-user spending on advanced network security solutions such as DDoS mitigation solutions and access control solutions to ensure protection.

Geographically, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Rise in awareness among healthcare organizations and increase in end-user spending on enhanced cyber security solutions and services, owing to increase in number of cyber-attacks, are projected to fuel to the market growth in this region.

The following graph signifies the growth potential of the healthcare cyber security market by security type. The cloud security segment is projected to grow at the highest CAGR, owing to the increase in adoption of cyber security solutions and services.

  • Increase in Cyber-attacks

A growing concern faced by the healthcare sector is the rise in number of cyber-attacks due to limited security measures, which, in turn, is expected to increase the adoption of security solutions. For instance, in 2015, Beacon Health Systems was targeted in a cyber-attack, wherein the patient’s personal and protected health information was hacked.

  • Regulatory Requirements and Government Norms

Introduction of supportive government regulations and acts to protect patient information from data breaches is encouraging healthcare providers to deploy advanced cyber security solutions to protect their healthcare data. For instance, The Government of U.S. enacted “the Health Insurance Portability and Accountability Act (HIPAA)” to encourage healthcare organizations to keep healthcare data secure and confidential.

  • Increase in Adoption of Mobile Device Applications and Platforms

Sales of mobile device and their penetration are growing rapidly owing to the increase in acceptance of bring your own device (BYOD) among healthcare organizations. The variety of services, applications, and functions available on mobile devices leads to large amount of data being stored on devices and transferred to and from devices. Most of the data stored on mobile devices include sensitive information, such as credit card numbers, user names, and passwords. This growth in dependency on mobile devices encourages organizations to implement effective cyber security solutions, such as IAM, asset management, UTM, and monitoring and analytics.

  • Need for Strong Authentication Methods

Healthcare organizations require strong authentication functionality to ensure that authentic employees access internal networks or specific applications. To avoid the threats of password-based authentication, enterprises progressively have moved to multi-factor authentication. Multi-factor authentication is generally performed by adding another element to the traditional user name and password. This could be hardware and software token, a biometric check, or a device authentication step. This implementation of these authentication techniques to reduce the risk of cyber threats encourages users to adopt effective cyber security solutions.

Key Benefits

  • The study provides an in-depth analysis of the healthcare cyber security industry, with current and future trends to elucidate the imminent investment pockets.
  • Information regarding key drivers, restraints, and opportunities coupled with their impact analysis is provided.
  • Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the market.
  • The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.

Healthcare Cyber Security Market Key Segments:

The healthcare cyber security market is segmented based on type, Solution, and geography.

By Solution

  • Identity and Access Management
  • Risk and Compliance Management
  • Antivirus and Antimalware
  • Security Information and Event Management
  • Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
  • Other Type of Solutions

By End User

  • Pharmaceuticals and Biotechnology
  • Health Insurance
  • Hospitals
  • Other End Users

By Geography

  • Europe
  • Asia-Pacific
  • North America
  • South America
  • Rest of the World

Key Market Players Profiled in the Report

  • Cisco Systems, Inc.
  • FireEye, Inc.
  • IBM Corporation
  • Kaspersky Lab
  • Lockheed Martin Corporation
  • MacAfee, Inc.
  • Northrop Grumma Corporation
  • Palo Alto Networks, Inc.
  • Sensato
  • Symantec Corporation

Healthcare Cybersecurity Market report provides statistics on the current state of the industry and thereby acts as a valuable source of guidance and direction for companies & investors interested in this market. Each of the topics is researched and analysed in depth for generating comprehensive Healthcare Cybersecurity Market research report. This Healthcare Cybersecurity Market report examines the market with respect to general market conditions, market status, market improvement, key developments, cost & profit of the specified market regions, position and comparative pricing between major players. Healthcare Cybersecurity Market report is an absolute background analysis of the industry which includes an assessment of the parental market.

Healthcare Cybersecurity Market Reports – Table of Contents
1. Preface
2. Assumptions and Research Methodology
3. Executive Summary: Global Healthcare Cybersecurity Market
4. Market Overview
5. Key Insights
6. Global Healthcare Cybersecurity Market Analysis and Forecast, By Product
7. Global Healthcare Cybersecurity Market Analysis and Forecast, By Detector
8. Global Healthcare Cybersecurity Market Analysis and Forecast, By Technology
9. Global Healthcare Cybersecurity Market Analysis and Forecast, By Application
10. Global Healthcare Cybersecurity Market Analysis and Forecast, By End-user
11. Global Healthcare Cybersecurity Market Analysis and Forecast, By Region
12. North America Healthcare Cybersecurity Market Analysis and Forecast
13. Europe Healthcare Cybersecurity Market Analysis and Forecast
14. Asia Pacific Healthcare Cybersecurity Market Analysis and Forecast
15. Latin America Healthcare Cybersecurity Market Analysis and Forecast
16. Middle East & Africa Healthcare Cybersecurity Market Analysis and Forecast
17. Competitive Landscape

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