Healthcare organizations turn to the digital recordings and implement new technologies for instance cloud computing, Internet-of-Things (IoT) and 5G. However, growing adoption of digital technologies poses serious challenges as well as safety concerns for the healthcare industry. Cybersecurity has become a major concern of health organizations due to the growing need to minimize the issues associated with data security and cyber threats.
Healthcare cyber security is also recognized as information technology (IT) security or computer security. It is a body of processes, technologies, and practices designed to protect the networks, programs, computers, and data related to the healthcare from unauthorized access, damage and attack. Nowadays, cybersecurity is more vital to a patient than healthcare, and it also helps to prevent the cyberattacks that keep patient data confidential for legal reasons. A significant amount of data is collected, processed, and stored on the computers in corporate, military, government, financial, and medical organizations and it is very important to protect that data. Therefore, cybersecurity is very essential.
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As per analysis, “Healthcare Cybersecurity Market: Current Analysis and Forecast (2021-2027)” the key companies operating in the global healthcare cybersecurity market include Sophos Ltd., Palo Alto Networks, Inc., Cisco Systems, Inc., IBM Corporation, Checkpoint Software Technologies Ltd., McAfee LLC, Intel Corporation, Juniper Networks, Inc., Trend Micro Incorporated and among others. Key companies operating in this space are spending abundantly on research & development. Business strategies for instance joint venture, collaboration, and mergers & acquisitions have enabled companies to stay competitive in the marketplace. Many companies believe in improving their current portfolio in order to attract their customers. To gain a highly popular viable advantage, companies are looking to the solutions offered by healthcare cybersecurity companies.
In terms of components, healthcare cybersecurity market can be segregated as solution and services. In terms of deployment type, market can be segregated as cloud and on-premise. In terms of type of threat, market can be segregated as Advanced Persistent Threats (APT), malware & spyware, ransomware and Distributed Denial of Service (DDoS). The ransomware segment is estimated to exhibit substantial growth rate due to rise in advent of crypto-currencies for ransom payment owing to its untraceable nature and increase in demand for advanced solutions for data protection during the forecast period.
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In terms of security type, market can be segregated as end-point security, cloud security, application security and content security. Cloud security segment holds major share in global market owing to increase in use of cloud services for storage, growth in adoption of internet of things (IoT) devices and rise in volume of sensitive data in healthcare. In terms of solution type, market can be segregated as antivirus & antimalware, risk & compliance management, Intrusion Detection System (IDS)/Intrusion Prevention System (IPS), security information & event management and identity & access management. Additionally, in terms of end-user, market can be segregated as hospitals, health insurance, pharmaceutical & biotechnology and others.
Rise in need of cloud-based security solutions among healthcare sector, followed by growth in adoption of 5G technology, increase in frequency & complexity of cyber threats, consistent technological developments, rise in demand for advanced cybersecurity solutions & privacy, exponential rise in healthcare data breaches and increase in government investment in the security sector are some major factors, which are responsible for growth of the Global Healthcare Cybersecurity Market. Apart from this, lack of trained professionals in the IT sector, less support from government authorities and high cost associated with healthcare cybersecurity software in underdeveloped regions may impact the market.
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Based on regional analysis, the North-America is a prevalent region in global healthcare cybersecurity market owing to presence of highly developed medical & healthcare infrastructure, proliferation of cloud-based solutions, high spending on the healthcare information technology, sophistication& frequency of cyberattacks and presence of major players along with numerous emerging startups across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to growth in consumption of connected devices, increase in cyber-attacks and rise in awareness regarding cybersecurity among healthcare organizations over the forecast period. It is projected that future of the global healthcare cybersecurity market will be bright as a result of increase in privacy & security concerns, emergence of disruptive digital technologies, rise in demand for robust & cost-effective cybersecurity solutions and high adoption of advanced technologies, such as 5G technology & Internet-of-Things (IoT) during the forecast period.
Ankur Gupta, Head Marketing & Communications
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