Healthcare Cybersecurity Market Size, Global Share, Growth Outlook, Scope, Future Demand, Key Segments and Forecast to 2028

Healthcare Cybersecurity Market by Offering (Solutions and Services), Solution Type, Threat Type, Security Type, End Use Industry (Hospitals and Healthcare Facilities, Medical Device Manufacturers) and Region - Global Forecast to 2028.
The global healthcare cybersecurity market [https://www.marketsandmarkets.com/Market-Reports/healthcare-cybersecurity-market-215097518.html?utm_campaign=healthcarecybersecuritymarket&utm_source=abnewswire.com&utm_medium=paidpr] is expected to expand from USD 18.2 billion in 2023 to USD 35.3 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 14.2% over the forecast period. Key factors fueling this growth include a surge in cyberattacks and heightened concerns around security and privacy, the widespread adoption of IoT and connected devices, and the increasing use of cloud-based solutions within the healthcare industry.

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Based on the threat type, the ransomware segment is to grow at the highest CAGR during the forecasted period

Ransomware attacks continue to be a significant threat to healthcare organizations. These types of attacks are a major threat that can disrupt patient care, compromise sensitive patient data, and cause significant financial damage According to a report, the healthcare sector accounted for 79% of all ransomware attacks in the United States in 2022. The impact of ransomware attacks on healthcare organizations has been highlighted by some of the high-profile incidents such as the WannaCry attack on the UK's National Health Service and the NotPetya attack on Merck pharmaceuticals. These incidents demonstrated the potential for ransomware attacks to cause widespread disruption and underscored the importance of strong cybersecurity measures in healthcare. Thus, the ransomware segment accounts for the highest CAGR during the forecasted period.

By solution type, Antivirus/Antimalware segment to hold a larger market size during the forecast period

Antimalware helps protect healthcare organizations against malware threats such as viruses, trojans, worms, and other malicious software that can compromise the security of patient data and systems, therefore becoming an important aspect of healthcare cybersecurity. Additionally, antimalware solutions help healthcare organizations detect and prevent malware attacks by scanning for known malware signatures, analyzing behavior patterns, and using advanced technologies such as machine learning and artificial intelligence algorithms to detect and respond to emerging threats. Thus, the segment holds a larger market size during the forecast period.

By region, Asia Pacific is to grow at the highest CAGR during the forecast period

It is projected that the Asia Pacific region would expand at the highest CAGR during the forecasted period. The Asia Pacific healthcare cybersecurity market is driven by the rising incidences and the complexity of cyberattacks in the region. Additionally, a growing concern about data privacy and safety, continuous technological advancements in healthcare cybersecurity, and collaboration between private and public sectors to strengthen healthcare cybersecurity. Furthermore, the growing consumerism in the healthcare industry, the accelerated economic growth of countries in the region, and the rising need to control healthcare costs are some of the key factors responsible for the digitization of the healthcare industry in this region, driving the need for healthcare cybersecurity solutions.

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Unique Features in the Healthcare Cybersecurity Market

Healthcare cybersecurity focuses heavily on protecting sensitive patient information, requiring specialized security protocols like encryption, access control, and data anonymization. With the prevalence of Electronic Health Records (EHRs) and digital health platforms, robust data protection measures are essential to prevent unauthorized access and maintain patient confidentiality.

The growing use of Internet of Things (IoT) devices and connected medical equipment in healthcare settings has introduced new security challenges. These devices often have unique vulnerabilities due to limited processing power and software constraints.

With healthcare providers increasingly relying on cloud-based platforms for data storage and processing, cloud security has become a key feature in the cybersecurity market. Solutions are designed to safeguard data during transmission and storage, with advanced identity and access management, encryption, and multi-factor authentication to protect cloud environments from unauthorized access.

Artificial intelligence (AI) is playing a critical role in healthcare cybersecurity, enabling faster detection of cyber threats and more effective responses.

Healthcare cybersecurity solutions are designed to meet strict regulatory standards, including HIPAA, GDPR, and HITRUST. These regulations mandate stringent data protection measures, and cybersecurity providers must ensure compliance to help healthcare organizations avoid penalties while maintaining patient trust.

Major Highlights of the Healthcare Cybersecurity Market

This expansion is largely driven by the rising frequency and sophistication of cyberattacks targeting healthcare organizations. As healthcare data becomes a prime target for malicious actors, the demand for advanced cybersecurity solutions is increasing to protect patient information and critical systems.

With the widespread adoption of IoT devices and connected medical equipment, healthcare organizations are facing new security challenges. Many IoT devices have inherent vulnerabilities due to limited processing power and update capabilities. Consequently, there is an intensified focus on securing these devices through continuous monitoring and threat detection, ensuring the reliability and safety of patient care.

Cloud-based solutions are becoming more prevalent in healthcare for data storage, management, and collaboration. However, this shift has also introduced data security risks. As a result, cybersecurity providers are developing advanced cloud security solutions that protect patient data during transfer and storage, using encryption, access control, and multi-factor authentication to secure cloud environments.

Artificial intelligence (AI) and machine learning (ML) are transforming threat detection capabilities in the healthcare cybersecurity sector. These technologies allow for real-time analysis of vast data sets, enabling the rapid identification of abnormal behavior and potential threats.

Healthcare organizations are subject to stringent data protection regulations, such as HIPAA in the U.S. and GDPR in Europe. The need to comply with these regulations is a significant driver for cybersecurity investment. Solutions that ensure compliance and safeguard patient privacy are increasingly sought after, as non-compliance can result in severe financial penalties and reputational damage.

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Top Companies in the Healthcare Cybersecurity Market

The healthcare cybersecurity market is led by some of the globally established players, such as IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (Israel), Fortinet (US), Trend Micro (Japan), Dell EMC (US), CrowdStrike (US), Kudelski Security (Switzerland), CloudWave (US), Claroty (US), Imperva (US), and LogRhythm (US). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.

Cisco (US) Cisco is a major networking equipment company that has been creating, producing, testing, and distributing integrated products and services since 1984. It offers IP-based networking, security, and cybersecurity products and services. Cisco's zero-trust security guarantees comprehensive network, application, and environment security across enterprises. The firm provides advice, implementation, and managed services, and has strategic alliances with Apple, A10 Networks, Alien Vault, AWS, Centrify, Fortinet, Google, and IBM Security. It has a significant presence in the Middle East, North America, Latin America, Asia Pacific, and Europe.

Through collaborations and acquisitions, the firm has grown its portfolio and presence in the healthcare cybersecurity market with companies, such as Cylera (US), Gigamon (US), and AT&T (US).

IBM (US) is a computer, technology, and information technology consulting organisation. It invented, developed, and produced some of the most cutting-edge technology available today. It is one of the greatest technical businesses in the world and the second-most valuable enterprise. The range of products offered by IBM includes microelectronics, networking systems, storage devices, computer systems, and software. In addition, it offers infrastructure, hosting, and consulting services in various industries, from nanotechnology to mainframe computers. IBM's primary business sectors include global financing, global business services, global technology services, systems, cloud, and cognitive software. IBM offers cybersecurity solutions in healthcare, including IBM Spectrum Sentinel, IBM QRadar SIEM, IBM Guardium, IBM Trusteer, IBM Verify, and IBM Storage Defender. Apart from these solutions, it also offers cybersecurity services including data security, security intelligence and operations, consultancy, secure engineering and application security, and security strategy risk and compliance. IBM's security division offers next-generation security threat intelligence solutions and services in the cybersecurity market.

Cylera is a cybersecurity company based in New York City, USA. Founded in 2017, Cylera specializes in healthcare IoT (Internet of Things) security, focusing on protecting connected medical devices and clinical networks from cyber threats. The company aims to ensure the safety and security of healthcare organizations' digital assets, patient data, and operational technology.

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