Healthcare Cybersecurity Market Size, Growth, Report By 2032

The global healthcare cybersecurity market size was valued at USD 20.18 billion in 2023 and is expected to hit around USD 81.63 billion by 2032, at a CAGR of over 16.8% from 2023 to 2032.

Key Points

North America led the global market with the highest market share of 40% in 2022.
By Offering, the solution segment has held the largest market share in 2022.
By End User, the healthcare provider segment captured the biggest revenue share in 2022.
By Security, the cloud security segment is estimated to hold the highest market share in 2022.

Internet of medical things is a concept where devices for advanced patient care increase the potential risks in this sector that inreturn boosts the demand for technologically advanced cybersecurity measures thereby helping the market to grow. Moreover risks such as loss of patient data, fake medical records, false patient identity and increase in the online solutions for healthcare services has led to the increase in demand for the cybersecurity services. All these factors help us to anticipate the growth of the cybersecurity market for the healthcare services.

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Regional Snapshots

The North American region is expected to have the largest market share in the overall health care cybersecurity market. The presence of many major players and the increasing startups for health care cyber security in this region has helped in the growth of the market. The Hillcrest Healthcare infrastructure in the North American market is extremely good and it has highly developed medical infrastructure. The health care sectors are spending on the health care information technology. In order to incorporate cloud based solutions.

The Asia Pacific region is also expected to grow rapidly during the forecast period as there are increasing cyber attacks in the Asia Pacific region. The market shall grow during the forecast. As there are many mandates for patient care and safety. The demand for healthcare cybersecurity shall increase during the future. Adoption of advanced technologies likes 5G technology, Internet of Things and cloud computing has helped in the growth of the market. Cost effective cyber security solutions and robust infrastructure are the driving factors for the growth of the healthcare cybersecurity market in the Asia Pacific region.

Report Highlights

On the basis of the security solutions, the cloud based segment is expected to grow during the forecast period. There’s an increasing demand for cloud based security solutions as it reduces the data management costs and it is extremely efficient software. Increased use of Internet of Things devices and cloud based security services for storage in the industry has led to a growth in the market.
By offering, the solution segment is expected to grow during the forecast period. Increased demand for advanced solutions for security operations. Increased number of data security and privacy concerns and increasing demand for cost effective solutions has led to a growth in the solutions segment. The awareness about electronic health records and. Improve regulatory. Framework has led to a growth in the market.

Table of Contents

Healthcare Cybersecurity Market Scope

Report Coverage	Details
Growth Rate from 2023 to 2032	CAGR of 16.8%
Market Size in 2023	USD 20.18 Billion
Market Size by 2032	USD 81.63 Billion
North America Market Share in 2022	40%
Asia Pacific Regional CAGR	20%
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	Offering, End User, Security, Threat Type, Deployment, End Use, Solution, Region

Healthcare Cybersecurity Market Dynamics

Drivers

The impact of the pandemic over the healthcare system has increased the demand for the cybersecurity services in the market. Due to creation of fake Covid cases and patient identities, need for better cybersecurity services has increased. Since the healthcare system operates teleworking and remote modes for operating, the local internet connections used along with the personal devices increases the risk for malware attacks to these networks. This serves as a driving force for adopting better cybersecurity services. The increase in the number of data alterations that take place in the fraud cases also raises the need to acquire advanced cybersecurity services. All these factors prove to be the drivers for boosting the healthcare cybersecurity market.

Restraints

The high cost associated with these cybersecurity services proves to be a great obstacle in the growth of the market size of healthcare cybersecurity market. This mainly affects the developing and underdeveloped nations where the expense capacity of the common man falls short. Further, lack of skilled, experienced and well trained professionals for handling the cybersecurity services prove to be the obstacles in the growth of the market. The geriatric age group is not able to afford the increasing cost of these services which makes it almost difficult for them to enjoy these facilities.

Opportunities

The increase in the number of healthcare cyber frauds has provided the healthcare cybersecurity market a great opportunity. The need for maintaining transparency in the services provided also demands for cybersecurity services. The cybersecurity services are able to encrypt important patient data which serves as an opportunity to the market. The increasing awareness about internet security has also increased the demand for such services. Growing privacy among people also adds on to the opportunities for the healthcare cybersecurity market.

Challenges

The shortage of experienced, skilled work force for handling such security services has posed a great challenge for adoption of cybersecurity services. This further increases the risk of loosing confidential data relating to the patient. The high cost associated with such advanced services also hinders the market thus challenging the growth of the market in the forecast period.

Healthcare Cybersecurity Market Players

SYMANTEC CORPORATION
Cisco Systems, Inc.
FireEye, Inc.
NORTHROP GRUMMA CORPORATION
Palo Alto Networks, Inc.
sensato investors
Lockheed Martin Corporation
MACAFEE, INC.
ibm corporation
Kaspersky Lab

Recent Developments

Mediagate carried an expansion of clinical IoT and General IO T medical devices. In order to enable the accurate and comprehensive medical device management for the protection from cyber attacks we announcement was made in the year 2019.
In order to manage security services, identity management. And cloud security in the healthcare sector, Atos launched its first comprehensive cybersecurity solution. This comprehensive cybersecurity solution was launched in the year 2019. The firm approached about 300 health care organisations to adopt this strategy for cyber attacks.
In order to detect, analyze and respond to the cyber security threats in the government hospitals as well as in the private hospitals. GE Healthcare had announced a cybersecurity solution named Skeye. The cyber security solution was launched in the year 2020. The solution helps in defending the vulnerabilities and provides the visibility and resolution of threat.

Segments covered in the report.

By Offering

Solutions
Services

By End User

Healthcare Payers
Healthcare Providers

By Security

Cloud security
Network security
Application security
Endpoint security

By Threat Type

Ransomware
Malware & Spyware
Distributed Denial of Service (DDoS)
Phishing & spear phishing
Others

By Deployment

On-premises
Cloud-based

By Application

Hospitals
Pharmaceutical and biotechnology industries
Healthcare payers
Others

By Solution

Identity and Access Management
Risk and Compliance Management
Antivirus and Antimalware
DDoS Mitigation
Security Information and Event Management
Intrusion Detection System/ Intrusion Prevention System
Others

By Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa