Healthcare Cyber Security Market – Overview
The amplified demand for computer security is motivating the healthcare cyber security market. Reports that review the healthcare industry has been offered by Market Research Future, which generates reports on industry verticals that evaluate the market development and opportunities. The market is anticipated to increase its stake with a CAGR of 15.3% in the forecast period.
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The need to protect computers, networks, programs, and data from illegal access, attack, or damage is fuelling the development of the healthcare cyber security market. The amplified adoption of cybersecurity in the healthcare industry is encouraging the healthcare cyber security market’s growth. The mounting need for progressive security cloud-based solutions, growing technological developments in cybersecurity, and the incidence of promising government regulations and laws to protect patient information from data breaches is inspiring the expansion of the healthcare cyber security market.
Segmental Analysis
The segmental analysis of the healthcare cyber security market has been segmented on the basis of, solution type, threat type end user, and region. Based on the threat type, the healthcare cyber security market has been segmented into spyware, advanced persistent threat (APT), malware, distributed denial-of-service (DDoS), and others. Based on the solution type, the market has been segmented into identity and access management, DDoS mitigation, security information, and event management (SIEM), antivirus and antimalware, risk and compliance management, and intrusion detection system (IDS)/intrusion prevention system (IPS). The end user basis of segmentation in the healthcare cyber security market comprises of medical devices companies, pharmaceuticals and biotechnology industries, hospitals and clinics, health insurance companies, and others. The market for healthcare cyber security has been segmented by the regions into Europe, the Americas, the Middle East & Africa and the Asia Pacific.
Detailed Regional Analysis
The regional assessment of the Americas region led the healthcare cyber security market in 2017. This is due to the presence of foremost market value suppliers, an increasing number of attacks targeting the organizations, growing association between pharmaceutical and medical device industries with regulatory authorities. The existence of several fortune 500 healthcare companies and advanced spending on research and development (R&D) activities in the US and Canada are also motivating the market. Incessant development in internet user base, growing government and private company’s investments in data security, and the incidence of regulations connected to data protection or security in France, the UK, and Germany is likely to back the market progress of the European region. The incidence of worldwide R&D centers of medical device and pharmaceutical industry, speedily developing healthcare infrastructure, growing cyber-attacks, and high-level economic progress in emerging countries such as India, China, and Japan are likely to support the lucrative market development of the Asia Pacific region. The Middle East & Africa regions in the healthcare cyber security market is expected to witness restrained market growth rate from 2018 to 2023 as hospitals are transitioning towards the digitized model in their business infrastructure are estimated to increase the demand for cybersecurity solutions to guard patient data and information concerning medicine in the Gulf Cooperation Council (GCC) countries and South Africa.
Competitive Analysis
The competition in the market is conducive to the overall growth of the market. The new players in the market are motivated by the presence of conducive factors prevailing in the market. The forces that are having a considerable pull in the market’s development are dynamically changing, leading to the creation of novel opportunities. The stronger influence of buyer purchasing behavior is dictating the expansion of the market to a great extent. The allocation of assets is being done judiciously so as to ensure improved growth opportunities. The pricing of goods in the market is done in a manner that ensures advantages to individuals and competitors. The industry cost make-up is also likely to modify with time. The role of the government in the market is substantially motivating the market. Also, the development of technology has increased momentum, guiding to improved market growth.
The leading companies in the healthcare cyber security market globally are Cisco Systems, Inc., McAfee, LLC, Northrop Grumman Corporation, Symantec Corporation, FireEye, Inc., International Business Machines Corporation, Trend Micro Incorporated, Lockheed Martin Corporation, Palo Alto Networks, Inc., Sensato, DXC Technology Company, and Booz Allen Hamilton Inc.
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