The size of the global healthcare cybersecurity market is expected to increase from USD 18.2 billion in 2023 to USD 35.3 billion by 2028. With a Compound Annual Growth Rate (CAGR) of 14.2% over the course of the forecast period
The primary reasons driving the market expansion are growing cyberattacks and concerns related to security and privacy, rising acceptance of IoT and connected devices, and increasing adoption of cloud-based solutions in the healthcare sector.
To know about the assumptions considered for the study download the pdf brochure
The growth of the healthcare cybersecurity market is driven by several key factors:
Increase in Cyberattacks: The healthcare sector is a prime target for cybercriminals due to the high value of medical data, which can be ten to twenty times more valuable than financial information. The frequency and sophistication of attacks, such as ransomware and data breaches, have surged, pushing healthcare organizations to adopt more robust cybersecurity measures?
Regulatory Requirements: Regulations like the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health (HITECH) Act in the U.S. mandate stringent data privacy and security measures. Compliance with these regulations drives the adoption of advanced cybersecurity solutions?.
Digital Transformation: The growing adoption of electronic health records (EHRs), telehealth services, and Internet of Medical Things (IoMT) devices increases the vulnerability to cyber threats. As healthcare organizations digitize their operations, the need for comprehensive cybersecurity solutions becomes critical to protect sensitive data and ensure patient safety.
Technological Advancements: Innovations in cybersecurity technologies, such as artificial intelligence, machine learning, and blockchain, are enhancing the capabilities of security solutions. These technologies help in identifying and mitigating threats more effectively, thus encouraging their adoption in the healthcare sector?.
Rising Awareness and Investments: There is a growing awareness among healthcare providers about the importance of cybersecurity. This is coupled with increasing investments in cybersecurity infrastructure and solutions to safeguard against potential threats and ensure compliance with regulatory standards?.
Here's a brief overview of the market share and key offerings of the specified companies in the healthcare cybersecurity market:
IBM (US):
Cisco (US):
Palo Alto Networks (US):
Check Point (Israel):
Fortinet (US):
Trend Micro (Japan):
Dell EMC (US):
Related Reports:
Healthcare Cybersecurity Market by Offering (Solutions and Services), Solution Type, Threat Type, Security Type, End Use Industry (Hospitals and Healthcare Facilities, Medical Device Manufacturers) and Region - Global Forecast to 2028
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE