Cyber security technologies and solutions are evolving due to the changing threat landscape, where threats are becoming smarter and damaging. In today’s connected health environment, cyber security is no longer an option or afterthought whereas it is a critical strategic asset that is being addressed by every organization. Over the past decade, healthcare industry has implemented a healthcare information technology (healthcare IT) infrastructure to access, send and receive electronic health data. Given that medical records contain a wealth of information that can be used for identity theft and fraud (such as social security number, address or claims data), personal health information carries a higher value on the black market than other industries. 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. Moreover, rise in the patent infringement cases, business records, medical identity fraud, and loss of patient health records are expected to boost the healthcare cyber security market during the forecast period of 2015 to 2023. However, lack of awareness about cyber security related to the healthcare industry would act as a restraining factor, thereby hampering the growth of the healthcare cyber security market.
The global healthcare cyber security market has been segmented into solution type, end user and geography. On the basis of the solution type, the healthcare cyber security market has been segmented into risk and compliance management, identity and access management, security information and event management, and intrusion detection system (IDS)/intrusion prevention system (IPS), firewalls, antivirus, antimalware software, data encryption software, and others. The identity and access management is the fastest growing segment in the healthcare cyber security market. The market for end users in segmented into pharmaceuticals & chemicals manufactures, medical devices companies, health insurance companies, hospitals and others. Pharmaceutical companies held the major share of healthcare cyber security market in 2014 and is expected to witness a substantial growth during the forecast period. During the past decade, cyber-attacks on medical device companies, insurance and pharma companies is on the rise, thus fueling the market growth of healthcare cyber security market.
Geographically, North America held the largest share of the healthcare cyber security market followed by Europe in 2014, due to the presence of highly developed medical and healthcare infrastructure, high spending on the healthcare information technology, presence of the major pharmaceutical and medical devices companies in the region and government initiatives which have led the growth of the healthcare cyber security market. Asia Pacific is the most attractive market for the healthcare cyber security market due to the rapid improvement in the healthcare industry, economic development in the countries such as China, Japan, India and Australia, which would further booth the healthcare cyber security market during the focus period. Rest of the world holds immense potential for the growth as there are untapped opportunities in the health care cyber security market.
Developing a cyber-security platform is no more an option today, it is a necessity. Some of the major players engaging in the health care cyber security market include Cisco Systems, Inc., IBM Corporation, MacAfee, Inc., Palo Alto Networks, Inc., Symantec Corporation, Lockheed Martin Corporation, FireEye, Inc., Northrop Grumma Corporation, Kaspersky Lab and others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.