Healthcare Cyber Security Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
Healthcare cybersecurity is a strategic necessity for all medical industry organizations, including healthcare providers, insurers, pharmaceuticals, biotechnology, and medical device firms.

Sizing and Forecast
The healthcare cyber security market size has grown rapidly in recent years. It will grow from $19.24 billion in 2023 to $22.99 billion in 2024 at a compound annual growth rate (CAGR) of 19.5%.  The growth in the historic period can be attributed to rising cyber threats, regulatory compliance, increased interconnectivity, data monetization concerns, awareness and education, legacy system vulnerabilities.

The healthcare cyber security market size is expected to see exponential growth in the next few years. It will grow to $47.8 billion in 2028 at a compound annual growth rate (CAGR) of 20.1%.  The growth in the forecast period can be attributed to iota security challenges, remote healthcare challenges, supply chain security, quantum computing threats, behavioral analytics adoption. Major trends in the forecast period include AI and machine learning integration, digitization of health records, rise in ransomware attacks, cloud security solutions, zero trust security models.

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Segmentation & Regional Insights
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

North America was the largest region in the healthcare cyber security market in 2023. The regions covered in the healthcare cyber security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increase in cases of healthcare cyber-attacks is expected to drive the growth of the healthcare cyber-security market going forward. The rise of digitalization in healthcare has increased the number of cyber-attacks in healthcare, which are protected by using various healthcare cyber security software, which leads to an increase in the demand for healthcare cyber security. For instance, in February 2023, according to the United States Department of Health and Human Services, a US-based federal government created to provide essential human services, healthcare providers in the United States witnessed a staggering 104% surge in data breaches from mid-2022 to mid-2023, jumping from 160 to 327 incidents. This alarming increase exposed the data of over 40 million patients, reflecting a 60% YoY rise in the first half of 2023. Therefore, the increasing cases of healthcare cyberattacks are driving the growth of the healthcare cyber security market over the coming years.

Key Industry Players
Major companies operating in the healthcare cyber security market report are 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., Symantec Corporation (formerly), McAfee LLC, Check Point Software Technologies Ltd., Trend Micro Incorporated, Athenahealth Inc., Kaspersky Lab, CyberArk Software Ltd., Imperva Inc., FireEye Inc., Imprivata Inc., Allscripts Healthcare Solutions Inc., Claroty Inc., Forescout Technologies Inc, Menlo Security Inc., Bitglass Inc., Medigate Ltd., Fortified Health Security Inc., Sensato Cybersecurity Solutions Inc., CybelAngel, Armis Inc., Cerner Corporation, CrowdStrike Inc.

The healthcare cyber security market report table of contents includes:

1. Executive Summary
2. Healthcare Cyber Security Market Characteristics
3. Healthcare Cyber Security Market Trends And Strategies
4. Healthcare Cyber Security Market – Macro Economic Scenario
5. Global Healthcare Cyber Security Market Size and Growth
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31. Global Healthcare Cyber Security   Market Competitive Benchmarking
32. Globa Healthcare Cyber Security   Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Healthcare Cyber Security   Market Future Outlook and Potential Analysis
35. Appendix

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