The global healthcare cybersecurity market size is expected to reach USD 51.40 billion by 2030, according to a new study by Polaris Market Research. The report “Healthcare Cybersecurity Market Share, Size, Trends, Industry Analysis Report, By Type of Solution; By Type of Threat (Malware, DDoS, Advanced Persistent Threat, Spyware, Lost or Stolen Devices, Others), By End-Use (Pharma & Chemicals, Medical Devices, Health Insurance, Hospitals, Others), By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The key factors responsible for the market growth include the installation of IoMT in healthcare cybersecurity systems. The introduction of Internet of Medical Things (IoMT) devices, among other recent innovations in the medical sector, has opened the way to improved patient care while also increasing potential threats.
Furthermore, throughout the projection period, the growth in patent infringement lawsuits, company records, medical identity fraud, and the loss of patient health records is likely to enhance the virtual threats in the industry. Based on end-use, the hospital segment accounted for the leading share in the cybersecurity industry in 2021 as existing technology systems are getting increasingly sophisticated, turning hospitals more vulnerable to cyber-attacks.
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The increasing data breach in the industry and their high cost for the market are being driven rapidly. According to the IBM report 2021, the cost of data breaches has risen from US$ 3.86 mn to US$ 4.24 mn, the greatest total cost in the last 17 years. Thus, the rising data breaches in the healthcare industry have led to an increase in the demand for cybersecurity in healthcare.
Industry players include Checkpoint Software Technologies Ltd., Broadcom Inc., Cisco Systems, Inc., FireEye, Inc., Fortified Health Security, Crowdstrike Holdings, Inc, Fortinet Inc., IBM Corp., Intel Corporation, Imperva, Juniper Networks, Inc., Lockheed Martin Corp, Kaspersky Lab, LogRhythm, Inc., Medigate, McAfee LLC, Northrop Grumman Corporation, NortonLifeLock Inc., Palo Alto Networks, Sophos Ltd., Symantec Corporation, and Trend Micro Inc. are some significant players operating in the global market.
Polaris Market Research has segmented the healthcare cybersecurity market report on the basis of type of solution, type of threat, end-use, and region:
Healthcare Cybersecurity, Type of Solution Outlook (Revenue - USD Billion, 2018 - 2030)
Healthcare Cybersecurity, Type of threat Outlook (Revenue - USD Billion, 2018 - 2030)
Healthcare Cybersecurity, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Healthcare Cybersecurity, Regional Outlook (Revenue - USD Billion, 2018 - 2030)