What Has Been the Growth Trajectory for the Healthcare Cyber Security Market in Recent Years?
The healthcare cyber security market has seen considerable growth due to a variety of factors.
• The size of the healthcare cyber security market has seen substantial growth lately. It is expected to rise from a value of $23.12 billion in 2024 to $27.53 billion in 2025, representing a compound annual growth rate (CAGR) of 19.1%.
The historical growth spurt can be linked to the proliferation of cyber threats, more stringent regulatory compliance, greater interconnectivity, concerns over data monetization, raised awareness and education, and vulnerabilities existing in legacy systems.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Healthcare Cyber Security Market?
The healthcare cyber security market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of cyber security in the healthcare sector is expected to surge remarkably in the coming years. It is projected to escalate to $58.61 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 20.8%.
Factors driving this growth during the forecast period include security issues related to the Internet of Things (IoT), challenges in remote healthcare, securing the supply chain, threats from quantum computing, and the adoption of behavioral analytics. The forecast period will also witness significant trends including the integration of AI and machine learning, digitizing health records, an increase in ransomware attacks, cloud security solutions, and the development of zero-trust security models.
What Are the Critical Driver Fuelling the Healthcare Cyber Security Market's Growth?
The uptick in healthcare cyber-attacks incidents is anticipated to fuel the expansion of the healthcare cyber-security industry in the future. The digitalization trend in healthcare has amplified the occurrences of cyber-attacks, which are guarded against using a variety of healthcare cyber security software, boosting the demand for healthcare cyber security. For example, the United States Department of Health and Human Services, a federal government agency based in the US that offers necessary human services, reported in February 2023 that healthcare providers in the US experienced a shocking 104% escalation in data breaches from mid-2022 to mid-2023, rocketing from 160 to 327 incidents. This significant increase compromised over 40 million patients' data, showing a 60% YoY rise in the first half of 2023. Thus, the escalating incidents of healthcare cyber-attacks are propelling the healthcare cyber security market's growth in the coming years.
What Are The Key Segments Within The Global Healthcare Cyber Security Market?
The healthcare cyber security market covered in this report is segmented –
1) By Threat Type: Malware, Distributed Denial Of Service (DDoS), Advanced Persistent Threats (APT), Spyware, Other Treat Types
2) By Solution: Identity And Access Management, Risk And Compliance Management, Antivirus and Antimalware, DDoS Mitigation, Security Information And Event Management, Intrusion Detection System And Intrusion Prevention System, Others Solutions
3) By Security Measures: Application Security, Network Security, Device Security, Other Security Measures
4) By Deployment: On-Premises, Cloud-Based
5) By End User: Pharmaceutical Industries, Biotechnology Industries, Hospital, Medical Device Companies, Health Insurance Companies, Other End Users
Subsegments:
1) By Malware: Ransomware, Trojans, Viruses, Worms
2) By Distributed Denial Of Service (DDoS): Volumetric Attacks, Protocol Attacks, Application Layer Attacks
3) By Advanced Persistent Threats (APT): Targeted Attacks, Spear Phishing, Insider Threats
4) By Spyware: Keyloggers, Adware, Tracking Cookies
5) By Other Threat Types: Phishing Attacks, Credential Theft, Man-In-The-Middle Attacks, Data Breaches
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How Are New Trends Impacting The Size Of The Healthcare Cyber Security Market?
Leading firms in the healthcare cybersecurity market are prioritizing investment in advanced security initiatives, such as artificial intelligence, threat management, and machine learning, to counter escalating cyber threats aimed at confidential patient data and healthcare infrastructure. These initiatives will establish a framework allowing hospitals to emulate their digital scenarios, pinpointing potential weaknesses before they can be taken advantage of by cybercriminals. For example, in May 2024, the Advanced Research Projects Agency for Health, an American research funding body supporting biomedical and health innovations, kick-started the UPGRADE program, dedicating $50 million to the creation of cybersecurity equipment for healthcare IT units, with a focus on anticipatory vulnerability analysis and threat control. The aim of this project is to autonomously detect and patch software weaknesses with minimum interruption to hospital services, addressing persistent cybersecurity issues in the healthcare industry.
Who Are the Key Players in the Healthcare Cyber Security Market?
Major companies operating in the healthcare cyber security market include:
• Irdeto a Verizon company
• Lockheed Martin Corporation
• Intel Corporation
• IBM Corporation
• Cisco Systems Inc.
• Northrop Grumman Corporation
• Broadcom Inc.
• Atos SE
• Booz Allen Hamilton Inc.
• Palo Alto Networks Inc.
• McAfee LLC
• Check Point Software Technologies Ltd.
• Trend Micro Incorporated
• Kaspersky Lab
• CyberArk Software Ltd.
• Imperva Inc.
• FireEye Inc.
• Imprivata Inc.
• Claroty Inc.
• Forescout Technologies Inc
• Menlo Security Inc.
• Bitglass Inc.
• Medigate Ltd.
• Fortified Health Security Inc.
• Sensato Cybersecurity Solutions Inc.
• CybelAngel
• Armis Inc.
• CrowdStrike Inc.
What are the Regional Insights into the Healthcare Cyber Security Market?
North America was the largest region in the healthcare cyber security market in 2024. The regions covered in the healthcare cyber security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
