Product Code: 978-1-68038-635-6
Healthcare Cyber Security Market Growth & Trends:
The global healthcare cyber security market size is expected to reach USD 56.3 billion by 2030 and is expected to expand at a CAGR of 18.5% over the forecast period, according to a new report by Grand View Research, Inc. The integration of healthcare and information technology has led to remarkable advancements in patient care, data management, and operational efficiency. However, it has also exposed the industry to increasing cyber threats, including ransomware attacks and data breaches, which compromise patient privacy and disrupt healthcare services. According to a February 2024 article from Health News Florida, analysts at Emsisoft noted a surge in cyberattacks on hospitals, with 46 incidents reported in 2023 compared to 25 in 2022. Meanwhile, criminal profits have seen a significant rise, with average payouts escalating from USD 5,000 in 2018 to an alarming USD 1.5 million in 2023.
The market growth is fueled by regulatory mandates, rising cyber-attacks, and the expansion of interconnected medical devices & systems. The market offers various solutions and services, such as threat detection, data encryption, access control, and compliance management, designed to protect sensitive healthcare information and infrastructure. Rapid digitalization and high internet penetration are increasing the chances of the vulnerability of the healthcare industry to cyberattacks due to its valuable data. The sector has witnessed numerous cyberattacks. For example, according to TechTarget, Inc.'s January 2024 update, over 112 million individuals were impacted by healthcare data breaches reported by more than 540 organizations to the U.S. Department of Health and Human Services (HHS) in 2023.
In addition, recent cyberattacks on Ireland's Department of Health and Health Service Executive (HSE) occurred, including a human-operated 'Conti' ransomware attack that severely disabled HSE systems, prompting the shutdown of most other systems. The Federal Bureau of Investigation (FBI) and Cybersecurity & Infrastructure Security Agency (CISA) issued warnings regarding the escalating attacks, noting over 400 Conti ransomware cyberattacks in the U.S. and worldwide. Furthermore, technological advancements in product development to combat cyberattacks and protect data are anticipated to drive market growth. For instance, in November 2023, CyberCatch, Inc. launched the Healthcare Compliance Manager solution, aiding healthcare organizations in adhering to the latest Health Industry Cybersecurity Practices from the U.S. Department of Health & Human Services. This solution targets the increasing cyberattack threat to the healthcare sector, impacting over 26,000 organizations.
Healthcare Cyber Security Market Report Highlights:
- Based on the type of solution, the antivirus and antimalware segment dominated the market and accounted for a revenue share of over 25.8% in 2023 due to a rise in the adoption of such solutions in healthcare settings. It is attributed to a surge in the number of malware attacks in the healthcare industry, which are capable of shutting down hospital networks thereby affecting patient care
- Based on the type of threat, the malware segment dominated the market and accounted for the largest revenue share of around 25.7% in 2023. The ransomware attack is the extensively used malware type due to the awareness and preferences of the hackers for ransomware
- In Asia Pacific, the market is anticipated to witness lucrative growth over the forecast period due to the increased adoption and penetration of the Internet in the healthcare industry
- Based on end-use, the hospital segment held the largest revenue share of around 62.6% in 2023. Hospitals are extremely vulnerable to cyber-attacks as they store an incredible amount of patient data. In addition, these attacks spiked during the pandemic threatening private data and patient care
- In 2023, North America dominated the market and accounted for the largest revenue share of over 30.0% due to the presence of key players and increased application scope of cyber security in healthcare organizations
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.3.5.1. Data for primary interviews in North America
- 1.3.5.2. Data for primary interviews in Europe
- 1.3.5.3. Data for primary interviews in Asia Pacific
- 1.3.5.4. Data for primary interviews in Latin America
- 1.3.5.5. Data for Primary interviews in MEA
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Data Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.2. Approach 1: Commodity flow approach
- 1.6.3. Volume price analysis (Model 2)
- 1.6.4. Approach 2: Volume price analysis
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Type outlook
- 2.2.2. Type of threat outlook
- 2.2.3. End-use outlook
- 2.2.4. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Healthcare Cyber Security Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Increasing cyber attacks
- 3.2.1.2. Rising security and privacy concerns
- 3.2.1.3. Higher adoption of advanced cyber security solutions
- 3.2.1.4. Growing adoption of IoT and connected devices
- 3.2.2. Market restraint analysis
- 3.2.2.1. Lack of cyber security policy framework in healthcare organizations
- 3.2.2.2. Budget constraints related to security in developing countries
- 3.2.3. Market opportunity analysis
- 3.2.3.1. Increasing adoption of healthcare IT solutions in outpatient facilities
- 3.2.3.2. Increasing criticality of healthcare infrastructure offer lucrative opportunities
- 3.2.4. Market challenges analysis
- 3.2.4.1. Inadequate end point device management
- 3.2.4.2. Lack of coordinated incident response
- 3.3. Healthcare Cyber Security Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
- 3.3.2.4. Environmental Landscape
- 3.3.2.5. Legal Landscape
- 3.3.2.6. Social Landscape
- 3.3.3. Impact of COVID-19 Analysis
Chapter 4. Healthcare Cyber Security Market: Type Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.2. Segment Dashboard
- 4.3. Healthcare Cyber Security Market Movement Analysis
- 4.4. Healthcare Cyber Security Market Size & Trend Analysis,
- 4.4.1. Solutions
- 4.4.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.1. Identity and Access Management
- 4.4.1.1.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.2. Risk and Compliance Management
- 4.4.1.1.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.3. Antivirus and Antimalware
- 4.4.1.1.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.4. Distributed Denial of Service (DDoS) Mitigation
- 4.4.1.1.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.5. Security Information and Event Management
- 4.4.1.1.5.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.6. Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
- 4.4.1.1.6.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.7. Others
- 4.4.1.1.7.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2. Services
- 4.4.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 5. Healthcare Cyber Security Market: Type of Threat Estimates & Trend Analysis
- 5.1. Definitions and Scope
- 5.2. Segment Dashboard
- 5.3. Healthcare Cyber Security Market Movement Analysis
- 5.4. Healthcare Cyber Security Market Size & Trend Analyses, by Type of Threat, 2018 to 2030 (USD Million)
- 5.4.1. Malware
- 5.4.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.2. DDoS
- 5.4.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.3. Advanced Persistent Threats (APT)
- 5.4.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.4. Spyware
- 5.4.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.5. Lost or Stolen Devices
- 5.4.5.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.6. Others
- 5.4.6.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 6. Healthcare Cyber Security Market: End-use Estimates & Trend Analysis
- 6.1. Definitions and Scope
- 6.2. Segment Dashboard
- 6.3. Healthcare Cyber Security Market Movement Analysis
- 6.4. Healthcare Cyber Security Market Size & Trend Analyses, by End-Use, 2018 to 2030 (USD Million)
- 6.4.1. Pharmaceuticals
- 6.4.1.1. Market estimates and forecast 2018 to 2030 (USD million)
- 6.4.2. Medical Devices
- 6.4.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.3. Payers
- 6.4.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.4. Hospitals
- 6.4.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.5. Others
- 6.4.5.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 7. Healthcare Cyber Security Market: Regional Estimates & Trend Analysis by Type, Type of Threat, & End-Use
- 7.1. Regional Market Dashboard
- 7.2. Global Regional Market Snapshot
- 7.3. Market Size, & Forecasts Trend Analysis, 2018 to 2030
- 7.4. Regional Market Dashboard
- 7.5. Global Regional Market Snapshot
- 7.6. Market Size, & Forecasts Trend Analysis, 2018 to 2030
- 7.7. North America
- 7.7.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 7.7.2. U.S.
- 7.7.2.1. U.S. country dynamics
- 7.7.2.2. U.S. market estimates and forecast, 2018 - 2030 (USD Million)
- 7.7.3. Canada
- 7.7.3.1. Canada country dynamics
- 7.7.3.2. Canada market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8. Europe
- 7.8.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 7.8.2. UK
- 7.8.2.1. UK country dynamics
- 7.8.2.2. UK market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.3. Germany
- 7.8.3.1. Germany country dynamics
- 7.8.3.2. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.4. France
- 7.8.4.1. France country dynamics
- 7.8.4.2. France market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.5. Italy
- 7.8.5.1. Italy country dynamics
- 7.8.5.2. Italy market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.6. Spain
- 7.8.6.1. Spain country dynamics
- 7.8.6.2. Spain market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.7. Norway
- 7.8.7.1. Norway country dynamics
- 7.8.7.2. Norway market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.8. Sweden
- 7.8.8.1. Sweden
- 7.8.8.2. Sweden market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.9. Denmark
- 7.8.9.1. Denmark
- 7.8.9.2. Denmark market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9. Asia Pacific
- 7.9.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 7.9.2. Japan
- 7.9.2.1. Japan country dynamics
- 7.9.2.2. Japan market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.3. China
- 7.9.3.1. China country dynamics
- 7.9.3.2. China market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.4. India
- 7.9.4.1. India country dynamics
- 7.9.4.2. India market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.5. Australia
- 7.9.5.1. Australia country dynamics
- 7.9.5.2. Australia market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.6. South Korea
- 7.9.6.1. South Korea
- 7.9.6.2. South Korea market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.7. Thailand
- 7.9.7.1. Thailand
- 7.9.7.2. Thailand market estimates and forecast, 2018 - 2030 (USD Million)
- 7.10. Latin America
- 7.10.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 7.10.2. Brazil
- 7.10.2.1. Brazil
- 7.10.2.2. Brazil market estimates and forecast, 2018 - 2030 (USD Million)
- 7.10.3. Mexico
- 7.10.3.1. Mexico
- 7.10.3.2. Mexico market estimates and forecast, 2018 - 2030 (USD Million)
- 7.10.4. Argentina
- 7.10.4.1. Argentina country dynamics
- 7.10.4.2. Argentina market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11. MEA
- 7.11.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 7.11.2. South Africa
- 7.11.2.1. South Africa country dynamics
- 7.11.2.2. South Africa market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11.3. Saudi Arabia
- 7.11.3.1. Saudi Arabia country dynamics
- 7.11.3.2. Saudi Arabia market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11.4. UAE
- 7.11.4.1. UAE country dynamics
- 7.11.4.2. UAE market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11.5. Kuwait
- 7.11.5.1. Kuwait country dynamics
- 7.11.5.2. Kuwait market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company/Competition Categorization
- 8.3. Vendor Landscape
- 8.3.1. Key company market share analysis, 2023
- 8.3.2. Cisco Systems, Inc.
- 8.3.2.1. Company overview
- 8.3.2.2. Financial performance
- 8.3.2.3. Product benchmarking
- 8.3.2.4. Strategic initiatives
- 8.3.3. IBM
- 8.3.3.1. Company overview
- 8.3.3.2. Financial performance
- 8.3.3.3. Product benchmarking
- 8.3.3.4. Strategic initiatives
- 8.3.4. Marubeni Information Systems Co.,Ltd
- 8.3.4.1. Company overview
- 8.3.4.2. Financial performance
- 8.3.4.3. Product benchmarking
- 8.3.4.4. Strategic initiatives
- 8.3.5. Symantec Corporation
- 8.3.5.1. Company overview
- 8.3.5.2. Financial performance
- 8.3.5.3. Product benchmarking
- 8.3.5.4. Strategic initiatives
- 8.3.6. Trend Micro Incorporated
- 8.3.6.1. Company overview
- 8.3.6.2. Financial performance
- 8.3.6.3. Product benchmarking
- 8.3.6.4. Strategic initiatives
- 8.3.7. McAfee, LLC.
- 8.3.7.1. Company overview
- 8.3.7.2. Financial performance
- 8.3.7.3. Product benchmarking
- 8.3.7.4. Strategic initiatives
- 8.3.8. Intel Corporation
- 8.3.8.1. Company overview
- 8.3.8.2. Financial performance
- 8.3.8.3. Product benchmarking
- 8.3.8.4. Strategic initiatives
- 8.3.9. AO Kaspersky Lab
- 8.3.9.1. Company overview
- 8.3.9.2. Financial performance
- 8.3.9.3. Product benchmarking
- 8.3.9.4. Strategic initiatives
- 8.3.10. Lockheed Martin Corporation
- 8.3.10.1. Company overview
- 8.3.10.2. Financial performance
- 8.3.10.3. Product benchmarking
- 8.3.10.4. Strategic initiatives
- 8.3.11. Northrop Grumman
- 8.3.11.1. Company overview
- 8.3.11.2. Financial performance
- 8.3.11.3. Product benchmarking
- 8.3.11.4. Strategic initiatives
- 8.3.12. Imperva; Fortinet, Inc.
- 8.3.12.1. Company overview
- 8.3.12.2. Financial performance
- 8.3.12.3. Product benchmarking
- 8.3.12.4. Strategic initiatives
- 8.3.13. Medigate (Claroty)
- 8.3.13.1. Company overview
- 8.3.13.2. Financial performance
- 8.3.13.3. Product benchmarking
- 8.3.13.4. Strategic initiatives