Global Healthcare Cybersecurity Market Insights Forecasts to 2033

• The Global Healthcare Cybersecurity Market Size was Valued at USD 15.89 Billion in 2023
• The Market Size is Growing at a CAGR of 18.45% from 2023 to 2033
• The Worldwide Healthcare Cybersecurity Market Size is Expected to Reach USD 86.41 Billion by 2033
• Asia Pacific is Expected to Hold a significant share during the forecast period.

The Global Healthcare Cybersecurity Market Size is Anticipated to Exceed USD 86.41 Billion by 2033, Growing at a CAGR of 18.45% from 2023 to 2033.

Market Overview

Cybersecurity in healthcare is crucial for medical organizations, guaranteeing service availability, effective functioning of medical systems, protection of patient information, and adherence to industry regulations. It entails a tactical method to identify and evaluate risks, avert assaults, and restore rapidly. Safeguarding patient information, especially PHI and PII, is crucial. Cybersecurity in healthcare needs to cater to various stakeholders, such as hospital personnel who need to be aware of policies and tools for handling sensitive information properly. Healthcare organizations' digital service providers and IT teams are responsible for cybersecurity, adhering to robust practices to protect data stored or managed within their systems, and identifying and responding to cybersecurity attacks. According to the Office for Civil Rights of the U.S. Department of Health and Human Services (HHS), in the preceding 24 months, 860 data breaches have been publicized, making healthcare companies an obvious target for cyberattacks. Of these breaches, 13.8% implicated "Business Associates," impacting more than 500 people. Healthcare breaches typically cost $9.23 million, which is more than twice the industry average. The Department of Health and Human Services (HHS) has published the Healthcare Sector Cybersecurity Strategy, aiming to enhance resilience for hospitals, patients, and communities. The strategy seeks funding to implement high-impact cybersecurity practices and propose new cybersecurity standards, including the HIPAA Security Rule. The healthcare cybersecurity market has experienced significant advancements owing to increased cybercrime, healthcare sector budget growth, and medical field knowledge.

Report Coverage

This research report categorizes the market for the global healthcare cybersecurity market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global healthcare cybersecurity market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global healthcare cybersecurity market.

Driving Factors

The market for healthcare cybersecurity is growing as an outcome involving both increasing access to the internet and government initiatives to protect confidential information. Further security solutions are being adopted as a result of the growing complexity and frequency of threats that target healthcare companies. Sensitive patient data protection has established itself as more important as a result of the digitization of medical records and the integration of healthcare systems. The industry is growing owing to the increasing prevalence of telemedicine services and electronic health records as well as precise regulations on data protection. Technology including AI, machine learning, and Internet of Things devices are developing promptly, which is driving the market. The attack surface gets larger as telemedicine, IoMT devices, and EHRs are more widely used. For healthcare firms to prevent expensive fines under rules, organizations need to make investments in comprehensive cybersecurity safeguards.

Restraining Factors

The healthcare cybersecurity sector faces a serious threat due to the complexity of network architecture and the lack of trained cybersecurity experts. As cyber threats become more sophisticated, the number of zero-day attacks increases, and companies often fail to invest in security infrastructure, leading to significant losses.

Market Segmentation

The global healthcare cybersecurity market share is classified into security type, component, and end-use.

• The cloud security segment is expected to grow at the highest CAGR during the forecast period.

Based on the security type, the global healthcare cybersecurity market is categorized into cloud security and network security. Among these, the cloud security segment is expected to grow at the highest CAGR during the forecast period. This segment is projected to grow as a result of the increasing demand to secure operations on the cloud, the rising demand for highly sophisticated threat detection tools, and the increasing complexity of cybercrimes. Cloud security is vital for safeguarding patient privacy across internet platforms, apps, and technology in the healthcare industry. Clinical applications, patient record confidentiality and integrity, and important medical research data are all maintained. Cloud security has a significant impact on healthcare enterprises' market positioning and reputation by promoting reliable collaboration among medical professionals and patients.

• The solutions segment is anticipated to hold the largest share of the global healthcare cybersecurity market throughout the projected timeframe.

Based on the component, the global healthcare cybersecurity market is categorized into services and solutions. Among these, the solutions segment is anticipated to hold the largest share of the global healthcare cybersecurity market throughout the projected timeframe. The increasing demand for sophisticated cybersecurity solutions, the rise in data security and privacy issues, and growing R&D expenditures to enhance cybersecurity solutions are all factors contributing to the segment's significant market. Furthermore, it is anticipated that the solutions section of the healthcare cybersecurity market will expand owing to factors including the growing complexity of cyberattacks, increased awareness of electronic health records (EHRs), and broadening regulatory compliance and protection considerations.

• The cloud-based deployment segment is projected to grow at the highest CAGR throughout the projection period.

Based on the deployment mode, the global healthcare cybersecurity market is categorized into on-premise and cloud. Among these, the cloud-based deployment segment is projected to grow at the highest CAGR throughout the projection period. Cloud-based security technologies are being incorporated into the operations of multiple healthcare organizations. These organizations are implementing cloud-based strategy, including forming alliances and introducing cloud-based products. The growth of this market is expected to be facilitated by the quick development of new cloud-based deployment channels, the rising adoption of cloud-based solutions, and more adaptability provided by cloud-based operations.

• The telehealth and digital health providers segment is predicted to grow at the highest CAGR throughout the projection period.

Based on the end-use, the global healthcare cybersecurity market is categorized into telehealth & digital health providers and hospitals & healthcare facilities. Among these, the telehealth and digital health providers segment is predicted to grow at the highest CAGR throughout the projection period. It is projected that the increasing prevalence of cyberattacks, the increasing deployment of telemedicine tools and remote healthcare services, and the increasing need for reliable connected medical devices and efficient cloud safety precautions might all contribute to the development of this segment.

Regional Segment Analysis of the Global Healthcare Cybersecurity Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global healthcare cybersecurity market over the predicted timeframe.

North America is anticipated to hold the largest share of the global healthcare cybersecurity market over the forecast period. The North American region, with its advanced healthcare services, advanced infrastructure, and increased spending on healthcare information technology, is expected to experience growth due to the presence of major players, startups, and innovative products aimed at safeguarding healthcare data.

Asia Pacific is anticipated to hold a significant share of the global healthcare cybersecurity market throughout the projected timeframe. The upward trend in cyberattacks, expanding regulations, and the rise in connected gadgets are contributing factors to the growth in the market. The Asia Pacific area is going to grow as a consequence of healthcare firms' increased knowledge of and use of cyber security owing to the modern technology accessible. Cloud computing, 5G technology, growing concerns regarding security and privacy, and the use of the Internet of Things are the factors driving the market's growth within the projection period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global healthcare cybersecurity market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• IBM Corporation
• Sophos Ltd.
• Radware Ltd.
• Proofpoint Inc.
• Trend Micro Incorporated
• McAfee LLC.
• Cisco Systems
• Claroty Ltd
• Check Point Software Technologies Ltd.
• Kaspersky Lab
• Sensato Investors
• Northrop Grumma Corporation
• Palo Alto Networks, Inc.
• Accenture
• FireEye Inc.
• HCL Technologies Limited
• Capgemini
• Wipro
• Cognizant
• Tata Consultancy Services Limited
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In December 2024, The president of the US, Biden Administration announced updates to existing rules aimed at strengthening cybersecurity for medical records amid a rise in healthcare data breaches.

• In November 2024, Lumifi, a leading managed detection and response (MDR) technology company, announced the acquisition of Critical Insight, marking its third acquisition in 13 months. This strategic move expands Lumifi’s service offerings and strengthens its presence in the healthcare and critical infrastructure cybersecurity sector.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global healthcare cybersecurity market based on the below-mentioned segments: 

Global Healthcare Cybersecurity Market, By Security Type

• Cloud Security
• Network Security

Global Healthcare Cybersecurity Market, By Component

• Services
• Solutions

Global Healthcare Cybersecurity Market, By Deployment Mode

• On-Premise
• Cloud

Global Healthcare Cybersecurity Market, By End-Use

• Telehealth and Digital Health Providers
• Hospitals and Healthcare Facilities

Global Healthcare Cybersecurity Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa