Healthcare Cyber Security Market Set to Surpass USD 53.23 Billion by 2030 - published by MarketDigits

Healthcare Cyber Security Market Scope:
Market size value in 2023 - USD 17.27 Billion
Market size value in 2030 - USD 53.23 Billion
CAGR (2023-2030) - 17.45 %
Forecast Period - 2023-2030
Segments Covered - Type of Solution, Type of Threat, End-Use, Type of Security and Region
Geographies Covered - North America, Europe, Asia Pacific, and Row
Sample of Companies Covered - Cisco, IBM, FireEye, Symantec, Trend Micro, MacAfee, Intel, Kaspersky, Lockheed Martin.

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The market for Healthcare Cyber Security Market is dominated by North America.
North America has emerged as the dominant force in the healthcare cybersecurity market, capturing the largest revenue share at approximately 43.76%. This dominance can be attributed to several key factors, including the presence of major industry players and the increasing integration of cybersecurity measures within healthcare organizations. The market is further propelled by a surge in investments in cybersecurity and continuous technological advancements. The region's advanced healthcare infrastructure also contributes significantly to market growth. Additionally, the introduction of innovative products aimed at safeguarding healthcare data is playing a crucial role in expanding market dynamics. Notably, Cisco's release of the latest version of "Cisco Umbrella" in 2018, with a successful deployment at the University of Kansas Hospital to protect medical devices and financial information from ransomware, exemplifies the market's responsiveness to evolving security needs in the healthcare sector.
The Asia Pacific region is poised for the fastest growth in the healthcare cybersecurity market. This growth is primarily attributed to the rising internet adoption and penetration within the healthcare sector. The region is experiencing a surge in digitalization, marked by increased utilization of Electronic Health Records (EHRs), wireless medical devices, and telemedicine, all of which are contributing to the expansion of the market. Additionally, the heightened frequency of cyber-attacks in the region is expected to further propel market growth in the coming years. A noteworthy development in this context is the February 2021 launch of the Trend Micro Vision One extended detection and response platform by Trend Micro, a Japanese multinational cybersecurity software company. This launch underscores the region's commitment to enhancing cybersecurity measures in response to evolving threats in the healthcare industry.

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Top Key Players Covered in the Report-
Cisco, IBM, FireEye, Symantec, Trend Micro, MacAfee, Intel, Kaspersky, Lockheed Martin, Northrop Grumman, Imperva Inc, Fortinet Inc, Medigate Ltd and Others

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Recent Developments-
In March 2023, IBM (US) collaborated with Cohesity (US) to provide better data security and reliability in hybrid cloud settings. IBM Storage Defender solution combines data protection, cyber resilience, and data management capabilities to protect enterprises' data layers from threats such as ransomware, human error, and sabotage. It also has a cyber vault and clean room capabilities, as well as automatic recovery operations to help retrieve business-critical data in hours or minutes rather than days or weeks.

https://www.globenewswire.com/news-release/2023/12/01/2789273/0/en/Healthcare-Cyber-Security-Market-projected-to-reach-USD-53-23-Billion-by-2030-growing-at-a-CAGR-of-17-45-during-the-forecast-period-of-2023-2030-professed-by-MarketDigits-in-its-re.html

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