Global Health IT Security Market: Overview
Increasing incidences of highly specialized and extensive data security breaches in the healthcare industry has brought to the fore the pressing need to employ effective security measures across healthcare IT systems. Data breaches continue to cost the healthcare industry hefty sums on an annual basis, with countries having technologically advanced healthcare infrastructures such as the U.S. and several European countries suffering the most. As a result, the tremendous monetary pressure as well as negative publicity that weak cybersecurity can bring to an organization is garnering increased focus and the healthcare industry is ramping up its spending on IT security.
This report on the global health IT security market presents a detailed overview of the growth dynamics of the market in present times and includes vast projections regarding the growth prospects of the market over period between 2016 and 2024. The report includes comprehensive qualitative as well as quantitative data pertaining to key market segments and their valuation, expected rate of growth over the mentioned period, and overall attractiveness across regional markets.
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Global Health IT Security Market: Trends and Opportunities
The healthcare industry is coming to terms with the fact that data breaches have been consistently rising in terms of impact, frequency, volume, and cost over the past few years. Also, the fact that data breaches in present times are highly professional in the way they are planned and executed makes it necessary for healthcare organizations to be equally proactive and prepared in the way security of the organization is planned and executed. The need to assess the present state of security readiness and implement a much more effective security model is the key factor driving the global health IT security market.
The market is also driven by the increasing penetration of mobile devices in internal networks of a healthcare IT infrastructure, stringent regulations, and rising spending by government bodies on IT security. Evolution of highly effective futuristic IT security solutions for the healthcare industry and the increasing adoption of cloud computing models for accessing IT security solutions at economical and pay-as-use pricing models are also fueling the adoption of health IT security solutions globally.
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Global Health IT Security Market: Segmentation
The key product varieties offered by the health IT security market include risk and compliance management solutions, disaster recovery, firewalls and unified threat management solutions, antimalware and antivirus, intrusion detection/intrusion prevention systems, and identity and access management solutions. On the basis of services, the health IT security market can be segmented into upgradation, maintenance, implementation, managed services, consulting, and on-going support.
The key applications of health IT security solutions are found across areas such as endpoint security, content security and network security. Based on the mode of delivery of health IT security solutions, the market is segmented into on-premise, cloud, and hybrid. The key end users of health IT security solutions are healthcare payers (insurance firms) and healthcare providers.
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Global Health IT Security Market: Regional and Competitive Outlook
From a geographical perspective, developed regions such as Europe and North America are the leading contributors to the revenue of the global health IT security market. The digitally and technologically advanced healthcare infrastructures in these regions have been the prime targets of the recent times’ most costly and sophisticated cyber-attacks. In response to this, these regions are significantly increasing spending on cybersecurity. These regions are expected to remain the leading contributors to the global market in the next few years as well.
In the highly competitive and fragmented vendor landscape of the global health IT security market, no major vendor accounts for a dominant share. Some of the leading companies operating in the market are Intel Corporation, SailPoint Technologies, Symantec, Hewlett Packard, AT&T, EMC Corporation, IBM Corporation, Wipro, and Verizon.