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Healthcare Cybersecurity Market size exceeded USD 16.5 billion in 2022 and will exhibit over 18.5% CAGR from 2023-2032 driven by the increasing number of cyberattacks in developed as well as developing economies.
Medical data shared across a vast network is subject to ransomware and virus attacks. Hackers often target the healthcare industry as it is a lucrative way to gain access to health insurance information, medical records, and, in certain cases, social security numbers, posing a direct danger to victims. Thus, to strengthen data security, healthcare professionals are adopting advanced healthcare cybersecurity solutions, which is expected to support market progress.
Report Attribute | Details |
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Base Year: | 2022 |
Healthcare Cybersecurity Market Size in 2022: | USD 16.5 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 - 2032 CAGR: | 18.5 |
2023 Value Projection: | USD 92.1 Billion |
Historical Data for: | 2018 to 2022 |
No of Pages: | 190 |
Tables, Charts & Figures: | 359 |
Segments Covered: | Threat, Security Measures, Deployment, End-use, and Region |
Growth Drivers: |
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Pitfalls Challenges: |
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Many countries, particularly developed nations, lack experts in data protection as well as cybersecurity training. The shortage of skilled individuals to operate cyber security technologies is slowing down healthcare cybersecurity market expansion. However, continued efforts to educate health professionals in the usage of digital health technologies will counter this market constraint in the future. This is expected to increase cybersecurity capabilities by encouraging developer skills, technological entrepreneurship, and networking.
Healthcare cybersecurity market from the network security segment to hit around USD 42 billion by 2032 due to the advancement of healthcare IT, which allows medical data to be easily accessible across broad networks to aid in the treatment process. Increased computer connectivity and network jamming result in fraudulent actions in hospitals and other healthcare settings. The rising number of cyberattacks on healthcare organizations leads to significant financial loss and ongoing efforts by health institutions to reduce the risks of data breaches are boosting the adoption of cybersecurity solutions to protect patient data.
Healthcare cybersecurity market from the cloud-based segment generated nearly USD 13 billion in 2022. Cloud solutions help healthcare services to improve operational efficiency while lowering IT expenditures. Furthermore, newly developed cloud-based computing security solutions enable healthcare organizations to maintain data synchronization and safety, thereby improving data protection and cybersecurity, which is contributing to the surge in demand for cloud-based solutions.
North America healthcare cybersecurity market crossed over USD 6 billion in 2022 and will exhibit a substantial development from 2023 to 2032 attributed to increasing investments in R&D to develop advanced healthcare cybersecurity software. Furthermore, favorable government initiatives will support regional market outlook by 2032. To cite an instance, in March 2023, the Health Sector Coordinating Council, Cybersecurity Working Group, and the United States Department of Health and Human Services issued a guide to assist the public and private healthcare sectors in aligning their cybersecurity programs to the NIST Cybersecurity Framework (CSF).
Some of the major companies operating in the healthcare cybersecurity market are:
Recent developments
By Threat
By Security Measures
By Deployment
By End-use
The above information is provided for the following geographies:
Fortified Health Security, Northrop Grumman, CLCLEARDATA, IBM, Imperva, Cisco Systems, Inc., Intel Corporation, Palo Alto Networks, Inc., and Trend Micro Incorporated are some of the leading firms engaged in the market.
Network security segment is anticipated to amass more than USD 42 billion by 2032 driven by the advancement of healthcare IT.
North America healthcare cybersecurity market was valued at over USD 6 billion in 2022 and will grow significantly through 2032 owing to the increasing investment in R&D to develop advanced healthcare cybersecurity software.
Global market for healthcare cybersecurity was worth around USD 16.5 billion in 2022 and is estimated to grow at over 18.5% CAGR through 2032, owing to the increasing number of cyberattacks globally.