Healthcare Cybersecurity Market Size, Share, and Trends 2024 to 2034

Healthcare Cybersecurity Market Size and Growth 2024 to 2034

The global healthcare cybersecurity market size accounted for USD 27.26 billion in 2024 and is predicted to reach around USD 126.70 billion by 2034, expanding at a CAGR of 16.61% from 2024 to 2034.

Healthcare Cybersecurity Market Key Takeaways

• North America led the global market with the highest market share of 41% in 2023.
• By Offering, the solution segment has held the largest market share in 2023.
• By End User, the healthcare provider segment captured the biggest revenue share in 2023.
• By Security, the cloud security segment is estimated to hold the highest market share in 2023.

U.S. Healthcare Cybersecurity Market Size and Growth 2024 to 2034

The U.S. healthcare cybersecurity market size reached USD 6.69 billion in 2023 and is predicted to be worth around USD 36.67 billion by 2034, at a CAGR of 17% from 2024 to 2034.

Till the year 2023, the North American region had the largest market share 41% of the overall healthcare cybersecurity market. The USA and Canada are the countries that have the largest infrastructure in the healthcare industry. North American Region is a technologically developed region and it provides advanced healthcare services. The presence of major players and many startups in the North American region, presence of highly developed health care, infrastructure and medical infrastructure, increased spending on healthcare information technology, use of cloud based solutions and increased frequencies of cyber attacks are leading to the growth in the North American region. As many innovative products are launched by the major market players in order to safeguard the data of the health care industry. The market shall grow during the forecast period.

The Asia Pacific region is also expected to have a good growth 20% during the forecast period due to the increased cyberattacks, growing regulatory requirements and increased number of connected devices. The awareness and adoption of cyber security in the healthcare organizations due to the advanced technologies provided will drive the growth in the Asia Pacific region. Use of Internet of Things, 5G technology, rising privacy and security concerns and cloud computing are the reasons why the market shall grow during the forecast period. In the European region, there is an increased spending of the economy on the healthcare sector and cyber security services. Therefore, it drives the market growth in the European region.

Market Overview

The use of internet of medical thing devices in the healthcare sector has increased the demand for advanced healthcare cybersecurity solutions. As there are potential threats in this sector healthcare cybersecurity firms help in providing security services and solutions to the health care institutions for their hospitals and patient information. Cyber security or information security is the practice of preserving the confidentiality integrity and the availability of data. There are many companies in the market that provide advanced healthcare cybersecurity solutions. The health care sector is an attractive target for the criminals. The medical data is more important even than the banking details or the credit cards. Digitization of the healthcare sector has increased the risk of cyberattacks. Cyber security is a software and technology that helps in managing the risk and prevents digital attacks, data theft and unauthorized access to networks, devices, healthcare data and many programs.

The healthcare cybersecurity market has grown during the pandemic. The cyber security threat on the healthcare industry had increased during pandemic, leading to a growth in this market. As the healthcare industry adopts remote modes, the users use personal equipment and home Internet connections, which do not have any cybersecurity are increasing the risk of cyber attacks.hence the demand for cybersecurity in the healthcare industry is increasing day by day.

Healthcare Cybersecurity Market Growth Factors

The phishing incidences in the healthcare industry were increasing during the pandemic and the market had grown. The use of Internet and various digital platforms for healthcare industry is increasing the need for cybersecurity. The availability of advanced cyber security solutions are also expected to help in the growth of the market. Many health organisations and governments are investing and taking initiatives in the health care cybersecurity systems. The market for healthcare cybersecurity has increased due to the increasing data breach.

Healthcare Cybersecurity Market Scope

Offering Insights

Based on the offering, the solution segment is expected to have a larger share during the forecast. The solution segment has grown well in the past. Increased number of data security and privacy concerns and a demand for advanced solutions for security operations has increased the demand for the cost effective solution. The solution segment in the healthcare cybersecurity market will grow due to the rising awareness about the electronic health records and the regulatory and protective concerns will contribute to the growth of the market

End User Insights

On the basis of the end user, the healthcare provider segment had the largest market share in terms of revenue till the year 2023. Raising awareness about the electronic health records and an increased number of data security concerns , the various supportive initiatives from the governments and the rules and regulations for the E-health solutions are expected to help in the growth of this market. Governments are taking initiatives in order to protect the patient information from the cyber threats.

The healthcare provider segment shall grow during the forecast period because there is an increased adoption of the total number of connected IOT devices. There's also a demand for cloud services. There are emerging digital technologies like IOT and cloud computing and there are investments from governments for development in the health care infrastructure. Hospitals or the health care providers are extremely vulnerable to cyber attacks and the market shall grow owing to these factors.

Security Insights

The cloud security segment on the basis of security will have the fastest during the forecast. The overall cybersecurity market will grow well during the forecast. The increased volume of sensitive data in the health care industry and the adoption of Internet of Things in the health care industry has raised. The demand for the cloud security segment many companies are adopting the cloud based security technologies in their healthcare firms. The health care sectors are also adopting the Internet of Things devices. So the cloud security segment is expected to grow. Cloud services are useful for storage of data. And all of these reasons are expected to contribute to the growth of the cloud security segment.

Healthcare Cybersecurity Market Companies

• SYMANTEC CORPORATION
• Cisco Systems, Inc.
• FireEye, Inc.
• NORTHROP GRUMMA CORPORATION
• Palo Alto Networks, Inc.
• sensato investors
• Lockheed Martin Corporation
• MACAFEE, INC.
• ibm corporation
• Kaspersky Lab

Recent Developments

• Mediagate carried an expansion of clinical IoT and General IO T medical devices. In order to enable the accurate and comprehensive medical device management for the protection from cyber attacks we announcement was made in the year 2019.
• In order to manage security services, identity management. And cloud security in the healthcare sector, Atos launched its first comprehensive cybersecurity solution. This comprehensive cybersecurity solution was launched in the year 2019. The firm approached about 300 health care organisations to adopt this strategy for cyber attacks.
• In order to detect, analyze and respond to the cyber security threats in the government hospitals as well as in the private hospitals. GE Healthcare had announced a cybersecurity solution named Skeye. The cyber security solution was launched in the year 2020. The solution helps in defending the vulnerabilities and provides the visibility and resolution of threat.

Segments covered in the report.

By Offering

• Solutions
• Services

By End User

• Healthcare Payers
• Healthcare Providers

By Security

• Cloud security
• Network security
• Application security
• Endpoint security

By Threat Type

• Ransomware
• Malware & Spyware
• Distributed Denial of Service (DDoS)
• Phishing & spear phishing
• Others

By Deployment

• On-premises
• Cloud-based

By Application

• Hospitals
• Pharmaceutical and biotechnology industries
• Healthcare payers
• Others

By Solution

• Identity and Access Management
• Risk and Compliance Management
• Antivirus and Antimalware
• DDoS Mitigation
• Security Information and Event Management
• Intrusion Detection System/ Intrusion Prevention System
• Others

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• North Africa
• South Africa
• Rest of the Middle East & Africa