Healthcare Cyber Security Market Research Overview
The amplified demand for computer security is motivating the healthcare cyber security market. Reports that review the healthcare industry has been offered by Market Research Future, which generates reports on industry verticals that evaluate the market development and opportunities. The market is anticipated to increase its stake with a CAGR of 15.3% in the forecast period.
The need to protect computers, networks, programs, and data from illegal access, attack, or damage is fuelling the development of the healthcare cyber security market. The amplified adoption of cybersecurity in the healthcare industry is encouraging the healthcare cyber security market’s growth. The mounting need for progressive security cloud-based solutions, growing technological developments in cybersecurity, and the incidence of promising government regulations and laws to protect patient information from data breaches is inspiring the expansion of the healthcare cyber security market.
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The segmental analysis of the healthcare cyber security market has been segmented on the basis of, solution type, threat type end user, and region.
Global Healthcare Cyber Security Market, by Threat Type
- Distributed Denial-of-service (DDoS)
- Advanced Persistent Threat (APT)
Global Healthcare Cyber Security Market, by Solution Type
- Antivirus and Antimalware
- Identity and Access Management
- Risk and Compliance Management
- DDoS Mitigation
- Security Information and Event Management (SIEM)
- Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
Global Healthcare Cyber Security Market, by End User
- Pharmaceuticals and Biotechnology Industries
- Medical Devices Companies
- Health Insurance Companies
- Hospitals and Clinics
The market for healthcare cyber security has been segmented by the regions into Europe, the Americas, the Middle East & Africa and the Asia Pacific.
The allocation of assets is being done judiciously so as to ensure improved growth opportunities. The pricing of goods in the market is done in a manner that ensures advantages to individuals and competitors. The industry cost make-up is also likely to modify with time. The role of the government in the market is substantially motivating the market. Also, the development of technology has increased momentum, guiding to improved market growth.
The leading companies in the healthcare cyber security market globally are,
- Cisco Systems Inc.
- McAfee LLC
- Northrop Grumman Corporation
- Symantec Corporation
- FireEye Inc.
- International Business Machines Corporation
- Trend Micro Incorporated
- Lockheed Martin Corporation
- Palo Alto Networks Inc.
- DXC Technology Company
- and Booz Allen Hamilton Inc.
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Detailed Regional Analysis
The global healthcare cyber security market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On a regional basis, the Americas would continue its dominance over next five years attributed to the presence of sophisticated medical and healthcare infrastructure, higher spending on the healthcare information technology, increasing collaboration between pharmaceutical, medical device industries with regulatory authorities. For instance, as per an article published in the Journal of the American Medical Association (JAMA), in the US, the health information technology (IT) spending was USD 2.8 billion in 2013, which was increased to USD 7.1 billion in 2018.
Europe would be the second-largest value contributor in the healthcare cyber security market due to the increasing internet user base, growth in government and private company’s investments in data security, and the presence of regulations related to data protection or security in the UK, France, and Germany. The Data Protection Act 2018 is the UK’s implementation of the General Data Protection Regulation (GDPR). Everyone responsible for using personal data must follow data protection principles and must make sure the information is used fairly, lawfully and transparently.
Asia-Pacific is likely to witness the fastest market growth during the forecast period due to growth in cyber-attacks, improving healthcare infrastructure and high-level economic growth in developing countries such as China, India, and Japan. According to Microsoft Corporation, a cyber attack incident is expected to cost a large healthcare organization in Asia-Pacific an average of USD 23.3 million in economic loss in 2019. The average economic loss for mid-sized healthcare organizations was USD 17,000 in 2018.
The Middle East & Africa has the least share of the global healthcare cyber security market. In addition, the major market share of the region would be held by the Middle Eastern region due to the rising demand for cybersecurity as there is a lack of proper cybersecurity training in Gulf hospitals and medical providers.
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TABLE OF CONTENTS:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2. Scope Of The Study
2.2.1. Research Objective
Chapter 3. Research Methodology
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
Chapter 4. Market Dynamics
…To be Continued.
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