Global Healthcare Cyber Security Market is projected to grow at a CAGR of 19.3% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Healthcare Cyber Security Market by Type Of Threat (Distributed Denial Of Service, Malware & Spyware, Ransomware, Phishing, Spear-Phishing), Deployment (Cloud-Based, On-Premises), Security Measure (Network Security, Application Security, Device Security), Regions, and Global Forecast 2020-2027.
The global healthcare cyber security market is expected to grow from USD 9.78 billion in 2019 to USD 33.65 billion by 2027, at a CAGR of 19.3% during the forecast period 2020-2027. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2020-2027. This growth is due to the increasing awareness about the availability of modern & technologically advanced anti-virus software. Developing nations in the Asia Pacific and other regions generate large quantities of patient data each year. On the other hand, the North America region accounted for the major market share of 48% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to the increasing incidences of data breaches in North American healthcare institutions.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the global healthcare cyber security market are Symantec Corporation, Northrop Grumman Corporation, McAfee, Cisco Systems., Trend Micro Incorporated, FireEye Inc., Fortified Health Security, IBM, Medigate, and Palo Alto Networks, among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global healthcare cyber security market.
Based on type of threat, the global market has been divided into distributed denial of service, malware & spyware, ransomware, phishing, and spear-phishing. The malware & spyware segment is expected to witness high growth over the projected timeframe. Massive data leaks & hacking by malware from healthcare facilities are increasing since the past few years, which will boost this segment’s growth. The deployment segment comprises of cloud-based and on-premises. On-premise dominated the market and was valued at USD 6.2 billion in the year 2019. There is an increasing demand for on-premise cyber security in research institutes since they deal with large amounts of scientific data. On-premise cyber security software can provide a high level of protection to data, and hence, hospitals and research institutes prefer it. On the basis of security measure, the market has been divided into network security, application security, and device security. The application security segment is forecasted to grow at a high CAGR owing to the increasing awareness about technologically sophisticated cyber security solutions that provide protection against unauthorized access, viruses, spam mails etc.
About the report:
The global healthcare cyber security market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire