Healthcare Cyber Security: Rise in Patent Infringement Cases and Loss of Patient Health Records Boost its Popularity in the Global Market

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 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.

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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.

Increased Cyber-Attack Threat makes a Solid Hike in Healthcare Cyber Security Industries

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.

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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.

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.

Healthcare Cyber Security Market Description:

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