Insights on the Healthcare Cyber Security Global Market to 2027 - Growing Number of Government Regulations and Rising Adoption of Mobile Device Applications and Platforms is Driving the Industry
DUBLIN, Dec. 8, 2021 /PRNewswire/ -- The "Global Healthcare Cyber Security Market" report has been added to ResearchAndMarkets.com's offering.
The Global Healthcare Cyber Security Market size is expected to reach $28.4 billion by 2027, rising at a market growth of 16.3% CAGR during the forecast period.
Cyber security technologies and solutions are constantly getting advanced because of the ever-changing threat landscape, where threats are becoming more sophisticated and damaging. In the present connected health environment, cyber security has become a necessity for healthcare organizations as it is a crucial strategic asset that is being deployed by all companies.
In the last couple of years, the healthcare sector has deployed a healthcare information technology (healthcare IT) infrastructure to access, forward, and receive electronic health data. As medical records have a big volume of data that can be utilized for identity theft and fraud (like social security numbers, claims data, or addresses), personal health information has a superior value on the black market as compared to other industries.
The growth of healthcare cyber security is expected to witness bright prospects due to the surge in the number of cyberattacks in the healthcare sector, increase in the number of threats, and growing concerns regarding privacy and security. The growing cases of data breaches and cyberattacks around the world have increased the concerns, hence boosting the demand for cyber security solutions in the global market. For example, the Secretary of U.S. Department of Health and Human Services (HHS) Breach of Unsecured Protected Health Information reported 592 breaches of unsecured protected health data impacting above 500 individuals in the past two years that are presently being investigated by the Office for Civil Rights.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic fueled the deployment of cyber security services and solutions due to the rise in the number of threats of data breaches and increase cases of cyberattacks in the healthcare system. The demand for cyber security solutions is expected to be driven by the increasing phishing cases in the healthcare industry during the global pandemic.
The requirement and adoption of cyber security are anticipated to be boosted by the rise in penetration of the internet and the adoption of digital platforms by the healthcare sector. Moreover, the high adoption rate of advanced cyber security solutions is expected to contribute to the growth & demand of healthcare cyber security solutions during the forecasting period. In addition, the rise in investments in healthcare cyber security by several healthcare companies and government initiatives is expected to create new growth avenues for the overall healthcare cyber security market during the forecasting period.
Market Growth Factors:
The growing number of government regulations and rising adoption of mobile device applications and platforms
The emergence of favorable government norms and acts to safeguard patient information from the rising number of data breaches is motivating healthcare vendors to adopt sophisticated cyber security solutions to secure their healthcare information. For example, The Government of the US passed "The Health Insurance Portability and Accountability Act (HIPPA)" to motivate healthcare institutions to maintain safety and confidentially for their healthcare information.
High requirement for a robust authentication mechanism
Healthcare institutions need robust and reliable authentication capabilities to ensure that only real workers access internal networks or particular applications. Companies are aggressively shifting to multi-factor authentication to prevent the threats of password-based authentication. Multi-factor authentication is majorly carried out by including another component to the conventional user-name and password. This may be the hardware and software token, a biometric check, or a device authentication step.
Market Restraining Factor:
Absence of trained professionals
The management of cybersecurity solutions needs many proficient employees and staff. However, the absence of proficient experts and staff has been a significant barrier to the adoption of healthcare cyber security solutions in the market. Moreover, the cybersecurity software and solutions must be regularly updated due to technological developments. In addition, data security is expected to become difficult as the software required for a clean security system and the amplification of cloud services, big data, and artificial intelligence.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Cisco Systems, Inc., IBM Corporation, Lockheed Martin Corporation, are the forerunners in the Healthcare Cyber Security Market. Companies such as Symantec Corporation, Fortified Health Security, Palo Alto Networks, Inc., Sensato AND Kaspersky Lab are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., FireEye, Inc., IBM Corporation, Kaspersky Lab, Lockheed Martin Corporation, Fortified Health Security, Palo Alto Networks, Inc., Sensato, and Symantec Corporation (Broadcom, Inc.).
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions - Healthcare Cyber Security Market
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jun - 2021, Jun) Leading Players
Chapter 4. Global Healthcare Cyber Security Market by Threat Type
4.1 Global Malware Market by Region
4.2 Global DDoS Market by Region
4.3 Global Advanced Persistent Threat Market by Region
4.4 Global Spyware Market by Region
4.5 Global Lost or Stolen Devices Market by Region
4.6 Global Other Threat Type Market by Region
Chapter 5. Global Healthcare Cyber Security Market by End Use
5.1 Global Hospitals Market by Region
5.2 Global Health Insurance Market by Region
5.3 Global Pharma & Chemicals Market by Region
5.4 Global Medical Devices Market by Region
5.5 Global Other End uses Market by Region
Chapter 6. Global Healthcare Cyber Security Market by Solution
6.1 Global Antivirus and Antimalware Healthcare Cyber Security Market by Region
6.2 Global Intrusion Detection System/ Intrusion Prevention System Healthcare Cyber Security Market by Region
6.3 Global Security Information and Event Management Healthcare Cyber Security Market by Region
6.4 Global Identity and Access Management Healthcare Cyber Security Market by Region
6.5 Global Risk and Compliance Management Healthcare Cyber Security Market by Region
6.6 Global DDoS Mitigation Healthcare Cyber Security Market by Region
6.7 Global Others Healthcare Cyber Security Market by Region
Chapter 7. Global Healthcare Cyber Security Market by Region
Chapter 8. Company Profiles
8.1 Cisco Systems, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional Analysis
8.1.4 Research & Development Expense
8.1.1 Recent strategies and developments:
8.1.1.1 Partnerships, Collaborations and Agreements:
8.1.1.2 Product launches and Product Expansions:
8.1.1.3 Acquisition and Mergers:
8.1.2 SWOT Analysis
8.2.5.1 Partnerships, Collaborations and Agreement:
8.2.5.2 Acquisitions and Mergers:
8.2.5.3 Product Launches and Product Expansions:
8.3 FireEye, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Acquisition and Mergers:
8.3.5.2 Product Launches and Product Expansions:
8.3.5.3 Partnerships, Collaborations, and Agreements:
8.4 Palo Alto Networks, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Acquisition and Mergers:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Partnerships, Collaborations, and Agreements:
8.4.6 SWOT Analysis
8.5 Lockheed Martin Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.6 Kaspersky
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.6.2.2 Product Launches and Product Expansions:
8.7 Fortified Health Security
8.7.1 Company Overview
8.7.2 Recent strategies and developments:
8.7.2.1 Partnerships, Collaborations, and Agreements:
8.8 Sensato Cybersecurity Solutions
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Partnerships, Collaborations, and Agreements:
8.8.2.2 Product Launches and Product Expansions:
8.9 Broadcom, Inc. (Symentec Corporation)
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Geographical Expansions:
8.9.6 SWOT Analysis
For more information about this report visit https://www.researchandmarkets.com/r/xffd6j
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