Healthcare Cybersecurity Market - Global Industry Analysis

The global Healthcare Cybersecurity market, which was estimated at about 8.1 (USD Billion) in 2018 and is predicted to accrue earnings worth 22.3 (USD Billion) by 2025, is set to record a CAGR of nearly about 19% over 2019-2025. The report offers valuation and analysis of Healthcare Cybersecurity market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).

Introduction

Healthcare is the only industry across the globe for which the biggest threat to data violation is more from the internal sources than external ones. As per Lancet, in 2017, 46% of breaches were due to employee online behaviour or wrong clicks like clicking on infected links in e-mails and negligence of employee as well as providing unauthorized data access to third party.

Although Cybersecurity is the key concern for major human activities, healthcare industry is more vulnerable to cyber-attacks as compared to other domains. The reason being that healthcare industry possesses valuable data and the online defense systems of the healthcare sector are very weak. Apart from this, aging healthcare IT infrastructure and surge in web connectivity of medical equipment to existing networks has exposed the medical devices to cyber threats or cyber-attacks.  Reportedly, Cybersecurity breaches in healthcare industry include stealing of healthcare data along with ransom ware attack on hospitals & clinics.   

Moreover, Cyber breaches can reduce patient trust, cripple healthcare systems, and prove hazardous to human life. Apparently, Cybersecurity is key to patient safety and hence has become a core part of the healthcare sector. Moreover, strict laws pertaining to Cybersecurity are introduced by various governments for safeguarding the interests of its citizens. On other hand, Cyber-attacks or cyber terrorism in healthcare sector can prove to be fatal or even life-threating for the patients apart from incurring of financial losses to the clinics, ambulatory centers, giant hospitals, and patients.  Authorities are focusing on devising new ways to combat the menace of cyber-terrorism and this is likely to pave the way for the growth of the healthcare Cybersecurity market over the forthcoming years.  Nevertheless, changes in people, technology, and processes are likely to play a key role in providing best-fit solution for the issues concerning cyber-attacks like hacking, malware, and terrorism.

Market Growth Dynamics

According to NCBI, cyber threats were more prominently witnessed in the healthcare, pharmaceutical, and biotech sectors post coronavirus pandemic. It encompasses growing efforts made by hackers for stealing intellectual property like data pertaining to COVID-19 vaccine production, data modeling, and experimental therapeutics. Hence, governments across the globe are trying to create awareness about it among the healthcare service providers and universities so that they can protect and effectively respond to any cyber-attacks. Such moves will not only enable the healthcare industry counter the menace of cyber terrorism but will generate lucrative growth avenues for healthcare Cybersecurity industry over the forthcoming years.

Apparently, cyber threats can occur in various forms in the healthcare sector including data theft, deletion of data, and data corruption. Furthermore, installed medical equipment are susceptible to hacking and can cause harm to the patients in the hospitals. Hence, it has become the need of an hour to strengthen the Cybersecurity across the healthcare sector, thereby driving the expansion of the healthcare Cybersecurity market.

Let us discuss some of the instances of cyberattacks in three different countries in the context of offering best–fit and optimal solutions to the Cybersecurity issues in the healthcare industry. For the record, the most recent well publicized cyber-attack on healthcare was in Singapore during 2018. In this cyber-attack, the health data of nearly 1·5 million of Singapore residents including the Prime Minister of Singapore was stolen. After that an inquiry committee was set up and few of the key recommendations were made and this encompassed the review of all network systems by Ministry of Health of Singapore along with enhanced security checks on critical systems.

As per the Lancet Reports, Estonian authorities found that nearly 11,000 Cybersecurity cases occurred in 2018 of which a meager 122 incidences were reported. Among these incidences, 10 of them related to healthcare directly impacted the operations of the healthcare systems. To counter Cybersecurity threats in healthcare sector, Estonian government launched a blockchain technology for effectively handling electronic patient records. Apparently, in one such publicized cyber-attack in the U.S in 2015, nearly 80 million records were stolen from Anthem - a U.S. based health insurance firm. These incidents have led to need or building strong Cybersecurity in the healthcare sector even in countries like the U.S.

The above three instances focus on common Cybersecurity issues and aim at producing universal best practices for improving cyber resilience across the healthcare sector, thereby expanding the scope of the market in the years ahead.

North America To Establish Strong Grip Over Global Healthcare Cybersecurity Market By 2025

The growth of the market in the sub-continent over the estimated timeline is owing to large-scale presence of strong healthcare infrastructure facility in the sub-continent. Apart from this, humungous expenditure on healthcare IT will further prompt the regional market expansion over the upcoming years.

Reportedly, the introduction of the U.S. National Institute of Standards and Technology Cybersecurity framework in 2018 reinforcing cyber infrastructure across the country will pave the way for the growth of the Cybersecurity industry across the country in the years ahead. Moreover, this framework is likely to be most prominently used for enhancing cyber-resilience in healthcare industry across the U.S., thereby helping the healthcare Cybersecurity industry in the U.S. establish a strong foothold in the region ensuing years. This will proliferate the regional market trends.

Key participants profiled in the study include Northrop Grumman Corporation, Symantec Corporation, IBM Corporation, Cisco Systems, Inc., MacAfee, Inc., Lockheed Martin Corporation, Palo Alto Networks, Inc., FireEye, Inc., and Kaspersky Lab.

The global healthcare Cybersecurity market is segmented as follows:

By type:

• Services
• Solutions

By security type:

• Content Security
• Endpoint Security
• Application Security
• Cloud Security
• Network Security
• Wireless Security

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

• Chapter 1. Preface
  • 1.1. Report Description and Scope
  • 1.2. Research Scope
  • 1.3. Research Methodology
    • 1.3.1. Market Research Type
    • 1.3.2. Market Research Methodology
• Chapter 2. Executive Summary
  • 2.1. Healthcare Cybersecurity Market, 2015–2025 (USD Billion)
  • 2.2. Healthcare Cybersecurity Market: Snapshot
• Chapter 3. Global Healthcare Cybersecurity Market– Industry Analysis
  • 3.1. Healthcare Cybersecurity Market: Market Dynamics
  • 3.2. Market Drivers
    • 3.2.1. Cyber threats can occur in various forms in the healthcare sector including data theft, deletion of data, and data corruption. Furthermore, installed medical equipment are susceptible to hacking and can cause harm to the patients in the hospitals. Hence, it has become the need of an hour to strengthen the Cybersecurity across the healthcare sector, thereby driving the expansion of the healthcare Cybersecurity market.
    • 3.2.2. According to NCBI, cyber threats were more prominently witnessed in the healthcare, pharmaceutical, and biotech sectors post coronavirus pandemic. It encompasses growing efforts made by hackers for stealing intellectual property like data pertaining to COVID-19 vaccine production, data modeling, and experimental therapeutics. Hence, governments across the globe are trying to create awareness about it among the healthcare service providers and universities so that they can protect and effectively respond to any cyber-attacks. Such moves will not only enable the healthcare industry counter the menace of cyber terrorism but will generate lucrative growth avenues for healthcare Cybersecurity industry over the forthcoming years.
  • 3.3. Porter’s Five Forces Analysis
  • 3.4. Market Attractiveness Analysis
    • 3.4.1. Market attractiveness analysis By Type
    • 3.4.2. Market attractiveness analysis By Security Type
• Chapter 4. Global Healthcare Cybersecurity Market– Competitive Landscape
  • 4.1. Company market share analysis
    • 4.1.1. Global Healthcare Cybersecurity Market: company market share, 2017
  • 4.2. Strategic development
    • 4.2.1. Acquisitions & mergers
    • 4.2.2. New Product launches
    • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
    • 4.2.4. Research and development and Regional expansion
  • 4.3. Price trend analysis
• Chapter 5. Global Healthcare Cybersecurity Market– Type Analysis
  • 5.1. Global Healthcare Cybersecurity Market overview: By Type
    • 5.1.1. Global Healthcare Cybersecurity Market share, By Type, 2018 and 2025
  • 5.2. Sulutions
    • 5.2.1. Global Healthcare Cybersecurity Market By Sulutions, 2015–2025 (USD Billion)
  • 5.3. Services
    • 5.3.1. Global Healthcare Cybersecurity Market By Services, 2015–2025 (USD Billion)
• Chapter 6. Global Healthcare Cybersecurity Market– Security Type Analysis
  • 6.1. Global Healthcare Cybersecurity Market overview: By Security Type
    • 6.1.1. Global Healthcare Cybersecurity Market share, By Security Type , 2018 and 2025
  • 6.2. Cloud Security
    • 6.2.1. Global Healthcare Cybersecurity Market By Cloud Security, 2015–2025 (USD Billion)
  • 6.3. Application Security
    • 6.3.1. Global Healthcare Cybersecurity Market By Application Security, 2015–2025 (USD Billion)
  • 6.4. Endpoint Security
    • 6.4.1. Global Healthcare Cybersecurity Market By Endpoint Security, 2015–2025 (USD Billion)
  • 6.5. Content Security
    • 6.5.1. Global Healthcare Cybersecurity Market By Content Security, 2015–2025 (USD Billion)
  • 6.6. Wireless Security
    • 6.6.1. Global Healthcare Cybersecurity Market By Wireless Security, 2015–2025 (USD Billion)
  • 6.7. Network Security
    • 6.7.1. Global Healthcare Cybersecurity Market By Network Security, 2015–2025 (USD Billion)
• Chapter 7. Company Profiles
  • 7.1. IBM Corporation
    • 7.1.1. Overview
    • 7.1.2. Financials
    • 7.1.3. Product Portfolio
    • 7.1.4. Business Strategy
    • 7.1.5. Recent Developments
  • 7.2. Cisco Systems, Inc.
    • 7.2.1. Overview
    • 7.2.2. Financials
    • 7.2.3. Product Portfolio
    • 7.2.4. Business Strategy
    • 7.2.5. Recent Developments
  • 7.3. Palo Alto Networks, Inc.
    • 7.3.1. Overview
    • 7.3.2. Financials
    • 7.3.3. Product Portfolio
    • 7.3.4. Business Strategy
    • 7.3.5. Recent Developments
  • 7.4. MacAfee, Inc.
    • 7.4.1. Overview
    • 7.4.2. Financials
    • 7.4.3. Product Portfolio
    • 7.4.4. Business Strategy
    • 7.4.5. Recent Developments
  • 7.5. Lockheed Martin Corporation
    • 7.5.1. Overview
    • 7.5.2. Financials
    • 7.5.3. Product Portfolio
    • 7.5.4. Business Strategy
    • 7.5.5. Recent Development
  • 7.6. Symantec Corporation
    • 7.6.1. Overview
    • 7.6.2. Financials
    • 7.6.3. Product Portfolio
    • 7.6.4. Business Strategy
    • 7.6.5. Recent Development
  • 7.7. Northrop Grumman Corporation
    • 7.7.1. Overview
    • 7.7.2. Financials
    • 7.7.3. Product Portfolio
    • 7.7.4. Business Strategy
    • 7.7.5. Recent Development
  • 7.8. FireEye, Inc.
    • 7.8.1. Overview
    • 7.8.2. Financials
    • 7.8.3. Product Portfolio
    • 7.8.4. Business Strategy
    • 7.8.5. Recent Development
  • 7.9. Kaspersky Lab
    • 7.9.1. Overview
    • 7.9.2. Financials
    • 7.9.3. Product Portfolio
    • 7.9.4. Business Strategy
    • 7.9.5. Recent Development

Table Of Figures

List of Figures

1. Market research Type
2. Market research methodology
3. Global Healthcare Cybersecurity Market, 2015–2025 (USD Billion)
4. Porter’s Five Forces Analysis
5. Global Healthcare Cybersecurity Market attractiveness, By Type  
6. Global Healthcare Cybersecurity Market attractiveness, By Security Type  
7. Global Healthcare Cybersecurity Market share by Type ,2018 and 2025 (USD Billion)
8. Global Healthcare Cybersecurity Market By Solutions,2015–2025 (USD Billion)
9. Global Healthcare Cybersecurity Market By Services ,2015–2025 (USD Billion)
10. Global Healthcare Cybersecurity Market share by Security Type, 2018 and 2025 (USD Billion)
11. Global Healthcare Cybersecurity Market By Cloud Security,2015–2025 (USD Billion)
12. Global Healthcare Cybersecurity Market By Application Security ,2015–2025 (USD Billion)
13. Global Healthcare Cybersecurity Market By Content Security,2015–2025 (USD Billion)
14. Global Healthcare Cybersecurity Market By Endpoint Security ,2015–2025 (USD Billion)
15. Global Healthcare Cybersecurity Market By Wireless Security,2015–2025 (USD Billion)
16. Global Healthcare Cybersecurity Market By Network Security,2015–2025 (USD Billion)
17. Global Healthcare Cybersecurity Market share, by Region, 2018 and 2025
18. North America Healthcare Cybersecurity Market, 2015–2025 (USD Billion)
19. Europe Healthcare Cybersecurity Market, 2015–2025 (USD Billion)
20. Asia Pacific Healthcare Cybersecurity Market, 2015–2025 (USD Billion)
21. Latin America Healthcare Cybersecurity Market, 2015–2025 (USD Billion)
22. The Middle East and Africa Healthcare Cybersecurity Market, 2015–2025 (USD Billion)

Table Of Tables

List of Tables

1. Global Healthcare Cybersecurity Market: snapshot
2. Drivers of the Healthcare Cybersecurity Market: impact analysis
3. North America Healthcare Cybersecurity Market revenue, By Type   , 2015–2025 (USD Billion)
4. North America Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
5. The U.S. Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
6. The U.S. Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
7. Rest of North America Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
8. Rest of North America Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
9. Europe Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
10. Europe Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
11. UK Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
12. UK Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
13. France Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
14. France Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
15. Germany Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
16. Germany Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
17. Rest of Europe Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
18. Rest of Europe Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
19. Asia Pacific Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
20. Asia Pacific Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
21. China Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
22. China Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
23. Japan Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
24. Japan Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
25. India Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
26. India Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
27. Rest of Asia Pacific Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
28. Rest of Asia Pacific Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
29. Latin America Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
30. Latin America Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
31. Brazil Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
32. Brazil Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
33. Rest of Latin America Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
34. Rest of Latin America Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
35. The Middle East and Africa Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
36. The Middle East and Africa Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
37. Saudi Arabia Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
38. Saudi Arabia Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
39. South Africa Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
40. South Africa Healthcare Cybersecurity Market revenue, By Security Type  , 2015–2025 (USD Billion)
41. Rest of the Middle East & Africa Healthcare Cybersecurity Market revenue, By Type    , 2015–2025 (USD Billion)
42. Rest of the Middle East & Africa Healthcare Cybersecurity Market revenue, By Security Type   , 2015–2025 (USD Billion)