Smita Deshmukh

A brief review of Healthcare Cyber Security Market

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.

A new report from Transparency Market Research, titled ‘Healthcare Cyber Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023,’ states that the global market is expected to expand at a rapid pace during the period between 2016 and 2023 due to increasing cyber-attack threats, improvements in healthcare infrastructure, and increasing spending.

Cybersecurity technologies are fast evolving across the globe owing to the changing digital landscape, where security threats are becoming more damaging and smarter. Today, amid the connected health environment, cyber security is not an option, rather it is a compulsion. For every organization, cyber security has become a strategic asset. The healthcare industry is increasingly implementing healthcare IT infrastructure to easily access, send, receive, and manage health care data. The rise in the patent violation cases, medical identity frauds, loss of patient information, and business record breaches are predicted to propel the global healthcare cyber security market in the years to come.

The global healthcare cyber security market is segmented on the basis of end user, region, and solution type. By region, the global healthcare cyber security market is divided into North America, Europe, Asia Pacific, and Rest of the World. Currently, North America dominates the global healthcare cyber security market owing to the increasing presence of a developed medical and healthcare infrastructure. Going forward, factors such as the increasing spending on healthcare information technology, the availability of medical and pharmaceutical devices, and the rising government support are expected to propel the North America healthcare cyber security market.

Asia Pacific is expected to be the attractive market in the years to come owing to economic developments in nations such as India, Japan, and China. Further, the Asia Pacific healthcare cyber security market is expected to grow swiftly due to the rapid enhancements in the healthcare sector. Developing a technically advanced cyber-system platform is a necessity today. Leading players such as Cisco Systems, Inc., MacAfee, Inc., Symantec Corporation, IBM Corporation, Palo Alto Networks, Inc., Lockheed Martin Corporation, Northrop Grumma Corporation, FireEye, Inc., and Kaspersky Lab are taking efforts to introduce new healthcare cyber security platforms in the global market.

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By solution type, the global healthcare cyber security market is classified into identity and access management, intrusion detection system, risk and compliance management, antivirus, data encryption software, antimalware, firewall, and others. Currently, the global healthcare cyber security market is dominated by the identity and access management segment. Based on end user, the global healthcare cyber security market is classified into medical devices companies, pharmaceutical and chemical manufacturers, hospitals, and health insurance companies.

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