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Healthcare Cyber Security Market 2019 Overview by CISCO, IBM, KASPERSKY, FIREEYE, SYMANTEC, TREND MICRO, MACAFEE, LOCKHEED MARTIN, NORTHROP GRUMMAN

03-06-2019 04:16 PM CET | IT, New Media & Software

Press release from: Market Prognosis

Healthcare Cyber Security Market 2019 Overview by CISCO, IBM,

The global healthcare cyber security market is expected to register a CAGR of 12% during the forecast period (2018 u2013 2023). Cyber-attacks are constantly increasing across the globe. The healthcare cyber security market is growing at a tremendous rate due to the growing need for network security in healthcare organizations.

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Increase in Cyber-attacks
While cyber-attacks are the major factor amongst the drivers of growth in the healthcare cyber security market, and data breaches might be in the run. Increasing number of healthcare institutions are expected to take to these cyber security solutions to protect patient data. It is estimated that in 2016, about 16 million patient records were stolen from healthcare organizations in the United States. As connected technology becomes even more embedded in healthcare, cyber threats are expected to increase. So, this cyber threat is driving the market, along with the other factors, such as increasing demand of could services and low penetration of the information security systems in healthcare sector.

Key Developments in the Market
• December 2017: Cisco has acquired Cmpute.io software solutions.
• November 2017: Trend Micro has acquired Immunio.

Major Players: CISCO, IBM, KASPERSKY, FIREEYE, SYMANTEC, TREND MICRO, MACAFEE, LOCKHEED MARTIN, NORTHROP GRUMMAN amongst others.

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Lack of Cyber Security Policy Framework in Healthcare Organizations
Cyber-attacks are increasing and becoming more common. Because of the lack of awareness about the benefits of cyber security among end-users in emerging countries is hindering the growth of the healthcare cyber security market. Further, the lack of skilled professional workforce is expected to slow down adoption rate of cyber security throughout the forecast period.

North America to Dominate the Market
North America was the largest regional market with revenue share estimated at over 40% due to increasing number of cyber-attacks in organizations in the region, the presence of several healthcare organizations, and high spending on R&D. On the other hand, Asia-Pacific is estimated to register the fastest CAGR through the forecast period.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

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