Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Healthcare Cyber Security Market Size, Share & Trends Analysis Report By Type, By Type Of Threat, By End-use, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
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. 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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $17.3 Billion |
| Forecasted Market Value (USD) by 2030 | $56.3 Billion |
| Compound Annual Growth Rate | 18.5% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
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
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
4.4.1.1.2. Risk and Compliance Management
4.4.1.1.3. Antivirus and Antimalware
4.4.1.1.4. Distributed Denial of Service (DDoS) Mitigation
4.4.1.1.5. Security Information and Event Management
4.4.1.1.6. Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
4.4.1.1.7. Others
4.4.2. Services
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
5.4.2. DDoS
5.4.3. Advanced Persistent Threats (APT)
5.4.4. Spyware
5.4.5. Lost or Stolen Devices
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
6.4.2. Medical Devices
6.4.3. Payers
6.4.4. Hospitals
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
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor LandscapeCisco Systems, Inc.
- IBM
- Marubeni Information Systems
- Symantec Corporation
- Trend Micro Incorporated
- McAfee, LLC.
- Intel Corporation
- AO Kaspersky Lab
- Lockheed Martin Corporation
- Northrop Grumman
- Imperva; Fortinet, Inc.
- Medigate (Claroty)
For more information about this report visit https://www.researchandmarkets.com/r/xtund3
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