Health IT Security Market Size - By Component (Products {Antivirus & Antimalware, DDoS Mitigation}, Services {Managed Security Services}), Delivery Mode (Cloud-based), Application (Network Security), End-user & Global Forecast 2024 - 2032

Health IT Security Market Size

Health IT Security Market size accounted for USD 21.5 billion in 2023 and is estimated to grow at 18.2% to reach USD 96.3 billion by 2032 due to increasing number of data breach, cyber-attack and denial-of-service (DDoS) attacks.
 

For instance, according to the HIPAA Journal, as of 2021, approximately 4,419 healthcare data breaches were recorded involving 500 or more user records. Similarly, in 2023, according to U.S. Department of Health and Human Services, DDoS attacks increased by 67% year-on-year and 24% quarter-on-quarter.
 

Health IT security aims to safeguard electronic health records (EHRs), patient health information, medical devices, telehealth systems, and other healthcare-related technologies from threats, data breaches, and unauthorized access. It involves the protection of both personal health information (PHI), which identifies individual patients, and non-personal health information, such as medical research data and healthcare operational data.
 

COVID-19 Impact

The COVID-19 pandemic had a positive impact on the health IT security market. As the number of COVID-19 cases upsurged, cyber-attacks on clinical testing databases, digital healthcare platforms and apps, medical diagnostic systems, and advanced healthcare devices were noted to increase. Also, the advent of COVID-19 propelled the demand for telemedicine services, digital healthcare platforms and boosted the integration of advanced technology and digitalization in healthcare industry.  The surge in cyberattacks targeting healthcare organization’s database, digital platforms, and medical systems has highlighted the need for robust Health IT security solutions. The pandemic has emphasized the importance of protecting sensitive patient data, ensuring data privacy, and maintaining the integrity of healthcare systems.
 

Health IT Security Market Trends

Increasing concern regarding patient data privacy and security has significantly boosted the demand for health IT security solutions. Rising digitization in healthcare sector and growing reliance on electronic health records (EHR) has highlighted the need of protecting sensitive patient information from unauthorized access, breaches, and misuse. Also, patient information, such as medical records, insurance details, and personally identifiable information (PII), must be safeguarded to maintain patient trust and comply with regulations. Further, increasing use of connected medical devices and various healthcare IT solutions to enhance patient care along with strict regulations imposed by the government to safeguard patient information.
 

Health IT Security Restraint 

Dearth of health IT and cyber security professionals is posing a significant challenge to the health IT security market progression. The health IT security solutions are complex in nature and requires skilled and experienced professionals to effectively navigate the system, manage patient data, and ensure accurate treatment planning. The increasing demand for robust security solutions in the healthcare industry is outpacing the availability of skilled professionals.
 

Health IT Security Component Market Analysis

By component, the health IT security market is classified into products and services. The services segment accounted for 52.8% of the industry share in 2022. Health IT security services encompass a range of measures and practices designed to protect healthcare organization’s sensitive data, systems, and infrastructure from cyber threats. These services include network security, data encryption, access controls, vulnerability assessments, threat detection, among others. Furthermore, health IT security services provide healthcare organizations with access to specialized expertise, proactive threat monitoring, and guidance in maintaining a strong security foundation.
 

By delivery mode, the health IT security market is segmented into cloud-based and on-premises. The cloud-based segment is expected to grow at 19% by 2032. Cloud-based delivery mode enables organizations to access and deploy security services on their changing needs. This flexibility eliminates the need of extensive infrastructure investments & maintenance as well as offers faster implementation & deployment, as a result it reduces the time needed to secure critical systems and costs and complexity. Also, it provides access to advanced security technologies and expertise without the need to build in-house capabilities.
 

The application in health IT security market is categorized into network security, endpoint security and data/content security. Network security segment accounted for USD 7.7 billion market revenue in 2022. Network security enables to safeguarding healthcare systems and data from unauthorized access, data breaches, and various cyber threats. The advantages offered by using health IT security solutions include enhanced protection of sensitive patient information, prevention of network-based attacks, mitigation of risks, and improved overall system security.
 

The end-user in health IT security market is categorized into hospitals & clinics, ambulatory care centers, healthcare payers and other end-users. Hospitals & clinics segment is projected to account for 41.5 billion and is expected to witness lucrative progression during the analysis timeframe. Hospitals & clinics handle sensitive patient information and rely heavily on medical devices and technology for healthcare delivery. Implementing robust health IT security measures ensures the confidentiality & safeguarding patient data and privacy. Furthermore, growing incidence of healthcare data breach and sensitive patient information have emphasized the importance of implementing health IT security in hospitals and clinics. For instance, in 2022, according to the HIPPA Journal, the electronic health record provider, Eye Care Leaders, suffered a ransomware attack.
 

North America health IT security market accounted for 36.9% business share in 2022. Increasing number of hospitals and adoption of technologically advanced healthcare solutions is expected to boost the industry gains. Also, rising incidence of cyberattacks targeting the healthcare industry, such as data breaches and ransomware attacks coupled with increasing awareness regarding protecting sensitive patient information will significantly proliferate the industry expansion. Furthermore, strict government regulations regarding HIPAA and GDPR mandates to protect patient data and imposes penalties for non-compliance.
 

Health IT Security Market Share

Major market players operating in the health IT security market IBM Corporation,

• Oracle Corporation
• Intel Corporation
• Dell Technologies
   

Health IT Security Industry News:

• In November 2022, Epic Systems Corporation partnered with Google Cloud. This partnership was aimed to run Epic's EHR workloads on Google Cloud. This strategy enhanced greater innovation, efficiencies, and security of patients data.  This strategic partnership helped the company to accelerate healthcare digital transformation and drive revenue growth.
   
• In 2020, GE Healthcare launched Skeye, a new cybersecurity service offering that that brings together medical device expertise, artificial intelligence and process management tools to help hospital groups in their fight against cybersecurity threats. This strategy helped the company to enhance its health IT security portfolio and increase customer base.
   

The health IT security market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

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By Component

• Products
  • Antivirus and antimalware
  • Distributed denial of services (DDoS) mitigation
  • Encryption and data loss protection solutions
  • Identity and access management solutions
  • Intrusion prevention systems
  • Risk and compliance management solutions
• Services
  • Consulting
  • Managed security services
  • Other services

By Delivery Mode

• On-cloud
• On-premises

Application

• Network security
• Endpoint security
• Data/content security
• Content security

End-user

• Hospitals and clinics
• Ambulatory care centers
• Healthcare payers
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA