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Soaring Cyber Threats Drive Global Healthcare Cyber Security Market towards $58.61 Billion by 2029
Soaring Cyber Threats Drive Global Healthcare Cyber Security Market
The rise in digital healthcare cyber challenges fuels the cyber security market towards impressive growth amidst advancements in AI and machine learning.
What Is The Projected Market Size Of The Global Healthcare Cyber Security Market And Its Growth Rate?
• The healthcare cyber security market observed swift growth and will rise from $23.12 billion in 2024 to $27.53 billion in 2025, growing at a CAGR of 19.1%, driven by increased cyber threats, regulatory compliance, and legacy system vulnerabilities.
• The market is anticipated to grow exponentially and achieve $58.61 billion in 2029, growing at a CAGR of 20.8%, attributable to iota security challenges, remote healthcare challenges, behavioral analytics adoption, and advent of quantum computing threats.
What Is Driving The Growth In The Healthcare Cyber Security Market?
The increase in cyber-attacks in the healthcare sector is a crucial factor driving the market growth. The digitization in healthcare has resulted in a surge in cyber-attacks, which necessitates healthcare cyber security software, thus bolstering demand for healthcare cyber security. To illustrate, healthcare providers in the US witnessed a startling 104% surge in data breaches from mid-2022 to mid-2023, exposing data of over 40 million patients, reflecting a 60% YoY rise in the first half of 2023, accentuating the vital role of healthcare cyber security.
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Who Are the Key Players Driving Healthcare Cyber Security Market Growth?
Major companies driving the healthcare cyber security market are:
• Irdeto a Verizon company
• Lockheed Martin Corporation
• Intel Corporation
• IBM Corporation
• Cisco Systems Inc.
• Northrop Grumman Corporation
• Broadcom Inc.
• Atos SE
• Booz Allen Hamilton Inc.
• Palo Alto Networks Inc.
• McAfee LLC
• Check Point Software Technologies Ltd.
• Trend Micro Incorporated
• Kaspersky Lab
• CyberArk Software Ltd.
What Are The Key Trends In The Healthcare Cyber Security Market?
Major trends shaping the healthcare cyber security market encompass:
• AI and machine learning integration
• The digitization of health records
• An increase in ransomware attacks
• Adoption of cloud security solutions
• Implementation of zero trust security models
What Are The Segments Of The Global Healthcare Cyber Security Market?
The global healthcare cyber security market is categorized into:
1) By Threat Type: Malware, Distributed Denial Of Service (DDoS), Advanced Persistent Threats (APT), Spyware
2) By Solution: Identity And Access Management, Risk And Compliance Management, Antivirus and Anti Malware, DDoS Mitigation, Security Information And Event Management
3) By Security Measures: Application Security, Network Security, Device Security
4) By Deployment: On-Premises, Cloud-Based
5) By End User: Pharmaceutical Industries, Biotechnology Industries, Hospitals, Medical Device Companies, Health Insurance Companies
Which Region Leads The Healthcare Cyber Security Market?
North America dominated the healthcare cyber security market in 2024. The other global regions explored in this report are Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Healthcare Cyber Security Market Global Market Report?
- Market Size Analysis: Analyze the Healthcare Cyber Security Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Healthcare Cyber Security Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Healthcare Cyber Security Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Healthcare Cyber Security Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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