Healthcare Cyber Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023
- Transparency Market Research
- Healthcare IT
Global Healthcare Cyber Security Market: Snapshot
The global healthcare cyber security market is predicted to lay a strong foundation of propelling growth on the growing need of network security, a type of IT security widely sought by healthcare organizations. Access control and distributed denial-of-service (DDoS) mitigation are some of the highly sophisticated types of network security solutions that ensure protection. Interestingly, the end-user expenditure on these solutions is prognosticated to continue seeing a rise due to its mounting awareness. In 2016, network security showcased a dominating performance in the market. Other types of security such as wireless, cloud, and application could also contribute to the overall growth.
While cyberattacks are prophesied to be amongst the primary drivers of growth in the global healthcare cyber security market, data breaches could well be in the run. An escalating count of healthcare institutions are expected to take to cyber security solutions to protect patient and their own data too. The implementation of connect medical devices and digital medical record systems coupled with the surging usage of laptops, tablets, smartphones, and other mobile devices is foretold to set the tone for a valuable demand in the market.
Focus on the introduction of technologically advanced solutions could be a key strategy adopted by leading players operating in the global healthcare cyber security market, followed by merger and acquisition. The rapid shift toward cloud computing technology is envisaged to supplement an additional boost to the demand in the market. More opportunities could take position in the market as players look to run new strategies to magnify their presence.
Cyber security technologies and solutions are evolving due to the changing threat landscape, where threats are becoming smarter and damaging. In today’s connected health environment, cyber security is no longer an option or afterthought whereas it is a critical strategic asset that is being addressed by every organization. Over the past decade, healthcare industry has implemented a healthcare information technology (healthcare IT) infrastructure to access, send and receive electronic health data. Given that medical records contain a wealth of information that can be used for identity theft and fraud (such as social security number, address or claims data), personal health information carries a higher value on the black market than other industries. The key factors driving the healthcare security market is the increasing cyber-attack threat. Recent estimates suggest that in the period from 2010 to 2014, approximately 37 million healthcare records were compromised in data breaches. Moreover, rise in the patent infringement cases, business records, medical identity fraud, and loss of patient health records are expected to boost the healthcare cyber security market during the forecast period of 2015 to 2023. However, lack of awareness about cyber security related to the healthcare industry would act as a restraining factor, thereby hampering the growth of the healthcare cyber security market.
The global healthcare cyber security market has been segmented into solution type, end user and geography. On the basis of the solution type, the healthcare cyber security market has been segmented into risk and compliance management, identity and access management, security information and event management, and intrusion detection system (IDS)/intrusion prevention system (IPS), firewalls, antivirus, antimalware software, data encryption software, and others. The identity and access management is the fastest growing segment in the healthcare cyber security market. The market for end users in segmented into pharmaceuticals & chemicals manufactures, medical devices companies, health insurance companies, hospitals and others. Pharmaceutical companies held the major share of healthcare cyber security market in 2014 and is expected to witness a substantial growth during the forecast period. During the past decade, cyber-attacks on medical device companies, insurance and pharma companies is on the rise, thus fueling the market growth of healthcare cyber security market.
Geographically, North America held the largest share of the healthcare cyber security market followed by Europe in 2014, due to the presence of highly developed medical and healthcare infrastructure, high spending on the healthcare information technology, presence of the major pharmaceutical and medical devices companies in the region and government initiatives which have led the growth of the healthcare cyber security market. Asia Pacific is the most attractive market for the healthcare cyber security market due to the rapid improvement in the healthcare industry, economic development in the countries such as China, Japan, India and Australia, which would further booth the healthcare cyber security market during the focus period. Rest of the world holds immense potential for the growth as there are untapped opportunities in the health care cyber security market.
Developing a cyber-security platform is no more an option today, it is a necessity. Some of the major players engaging in the health care cyber security market include Cisco Systems, Inc., IBM Corporation, MacAfee, Inc., Palo Alto Networks, Inc., Symantec Corporation, Lockheed Martin Corporation, FireEye, Inc., Northrop Grumma Corporation, Kaspersky Lab and others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Healthcare IT
Healthcare ITGlobal mHealth Market Research Report 2016
Pharmaceuticals and HealthcareGlobal Bionic Ears Market Professional Survey Report 2017
Pharmaceuticals and HealthcareNeuropsychiatric Disorder Cluster Drug Development Pipeline Review, 2017
Pharmaceuticals and HealthcareHepatitis Drug Development Pipeline Review, 2017