Healthcare Cyber Security Market Research Report Information By Threat Type (Malware, Distributed Denial-Of-Service (DDOS), and Advanced Persistent Threat (APT)), By Solution Type (Antivirus & Antimalware, Risk & Compliance Management, Security Information & Event Management, DDOS Mitigation, and Identity & Access Management), By End Users (Hospitals & Clinics, Pharmaceuticals & Biotechnology Industries, Health Insurance Companies, and Medical Devices Companies), And By Region (Europe, Asia-Pacific, North America, And Rest Of The World) – M

Global Healthcare Cyber Security Market Overview

The healthcare cyber security market size was valued at USD 21.60 billion in 2023 and is projected to grow from USD 25.36 Billion in 2024 to USD 94.10 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.81% during the forecast period (2024 - 2032). 

Growing the threat of cyber-attacks in the healthcare sector, higher adoption of cybersecurity services and solutions, and rising privacy & security concerns are the key market drivers enhancing the healthcare cyber security industry growth.

Such innovative developments, such as the Cisco AI Assistant for Security that Cisco recently presented, will help boost AI across the security cloud. This is a new solution that demonstrates that Cisco wants customers to make informed choices and improve their tools in order to facilitate complex tasks and streamline them.

IBM and Palo Alto Networks have expanded their strategic partnership with the purpose of assisting customers in enhancing overall security protection and coping better with evolving cyber risks. This cooperation offers all-rounded solutions to clients that reinforce their cyber defense strategy and help them maneuver volatile cybersecurity terrains.

In July 2024, McAfee announced an addition of new features to its security suite designed especially for the healthcare industry. Enhanced data privacy features and advanced threat detection is offered in the upgrade.

In May 2022, Clearwater paid $17.7 million to acquire CynergisTek, which provides cybersecurity, compliance, and IT services that serve highly regulated industries encountering privacy issues. This move emphasizes how essential people are in ensuring good privacy practices when it comes to healthcare security scrutiny by CynergisTek.

By acquiring ReaQta, IBM Security will expand its capabilities in detecting and responding to threats posed by hackers. The endpoint protection solutions offered by ReaQta find intrusions automatically through artificial intelligence (AI) without being visible to attackers. Being in line with IBM’s goal of providing safety across multiple technologies, hybrid clouds, and data sources, this agreement allows the company to strengthen its position in the XDR market.

This November saw Fortinet announce its most comprehensive solution for securing work-from-anywhere environments- an industry premiere. By merging numerous zero-trust, endpoint, and network security products into Fortinet Security Fabric, protection is delivered together with threat intelligence and services from a broad range of products.

Healthcare Cyber Security Market Trends

• An increase in healthcare cyber-attacks and regulatory policies to drive market growth

The rapidly increasing number of data breaches in the healthcare industry is driving the demand for cyber healthcare security. For example, the average data breach cost in the healthcare industry was USD 9.23 million, as per IBM's Cost of a Data Breach Report published in 2021. In addition, the Secretary of the United States Department of Health & Human Services (HHS) Breach of Unsecured Protected Health Information outlines nearly 592 breaches of un-secured protected patient data that affected more than 500 individuals in the previous two years that the Office is investigating for Civil Rights.

Medical data is ten to twenty times more valuable than credit card or banking information, making healthcare an appealing target for cybercriminals. In addition, the recent digital transformation of healthcare has increased the frequency of cyber-attacks. For example, the recent cyber-attacks on Ireland's State Health Department and Health Service Executive (HSE) were affected by a human-operated 'Conti' ransomware attack, severely disabled numerous HSE systems and forced the shutdown of the majority of the HSE's other systems. These factors are propelling the healthcare cyber security market revenue forward.

The increased volume of cyber-threat matrices and attacks due to inadequate security protocols is a crucial concern for the healthcare sector. It is further expected to boost the adoption of security solutions. This has enabled the deployment of government policies and steps to safeguard patient information from data breaches, incentivizing healthcare organizations to use highly developed healthcare cyber security solutions to protect their medical and healthcare data. 

For example, the United States government enacted the ‘Health Insurance Portability and Accountability Act (HIPAA)’ to encourage healthcare institutions to keep patient data private and confidential. These factors will also help to drive the market CAGR of healthcare cyber security in the upcoming years.

Healthcare Cyber Security Market Segment Insights

Healthcare Cyber Security Threat Type Insights

The market segmentation of healthcare cyber security, based on threat type, includes malware, distributed denial-of-service (DDOS), and advanced persistent threat (APT). The malware segment held the majority share in 2022, contributing around ~40-43% to the  healthcare cyber security market revenue. There are numerous cybersecurity issues in the healthcare industry. Due to hackers' awareness of and preference for ransomware, ransomware attacks are the most common form of malware. 

An estimated 92 healthcare organizations in the United States experienced ransomware attacks in 2020, leading to average ransom demands of USD 169,446 and earning criminals USD 15.6 million in ransom from the country's healthcare sector. In addition, the malware variant targeted 560 healthcare facilities in 2020, according to Emsisoft. Ransomware disables systems like clinical, employee, and financial data systems, health record database systems, and medical devices until the victim pays the ransom. It also blocks access to vital healthcare data.

Healthcare Cyber Security Solution Type Insights

The  healthcare cyber security market segmentation, based on solution type, includes antivirus & antimalware, risk & compliance management, security information & event management, DDOS mitigation, and identity & access management. The risk & compliance management segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032. 

Healthcare risk & compliance management determines, assesses, and implements policies and procedures to protect critical assets from potential threats. Healthcare organizations must recognize proper risk management as it is essential to the industry due to the sensitive nature of healthcare data. Healthcare risk management is critical since the industry is rapidly changing owing to new medical technologies and rising privacy concerns about patient data.

Figure 2:  Healthcare Cyber Security Market, by Solution Type, 2023 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the antivirus & antimalware segment is the fastest-growing  healthcare cyber security industry. It is attributed to an increase in the number of malware attacks in the healthcare sector, which can disrupt hospital networks and negatively impact patient care. With machine learning and customized spear-phishing emails, malware attacks in healthcare organizations have recently become more sophisticated. 

Hospital computers are at various levels of risk depending on the types of malwares and their level of malice. The healthcare industry is the one that is most vulnerable to cyberattacks due to the crucial data it controls, the rising level of digitization, and the increasing use of the internet, thereby supporting the healthcare cyber security market growth.

Healthcare Cyber Security End User Insights

End users have bifurcated the  healthcare cyber security market data into hospitals & clinics, pharmaceuticals & biotechnology industries, health insurance companies, and medical devices companies. The hospitals & clinics segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period 2024-2032. Hospitals are particularly vulnerable to cyberattacks as they store large amounts of patient data. 

A rise in these attacks also co-occurred as the pandemic jeopardized private information and health care. In the case of Blackbaud, a cloud technology provider suffered a security breach that exposed patient data from 46 hospitals and health organizations in 2021. Hospitals may be better able to anticipate and handle these risks if they incorporate healthcare cyber security into their current frameworks for governance, risk assessment, and business continuity.

Healthcare Cyber Security Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Healthcare Cyber Security market accounted for USD 8.33 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The presence of key regional players and the increased use of cyber security in healthcare organizations are the primary contributors to market growth. Increased investment in cyber security and technological advancement drives the North American market forward. 

A further factor contributing to market expansion is the developed healthcare infrastructure. Besides, introducing ground-breaking products to protect patient data in the healthcare sector is also fueling regional market expansion. For instance, Cisco released the most recent iteration of the 'Cisco Umbrella' in 2018. It was implemented at the University of Kansas Hospital to defend against ransomware and safeguard medical equipment and financial data.

Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  HEALTHCARE CYBER SECURITY MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

European healthcare cyber security market accounts for the second-largest market share. This is primarily due to factors such as the presence of significant players in the region, as well as several emerging startups, the existence of highly advanced medical and healthcare facilities, high spending on healthcare information technology, the expansion of cloud-based solutions, the growing complexity and frequency of cyberattacks, and the emergence of disruptive digital technologies. Further, the German market of healthcare cyber security held the largest market share, and the UK market of healthcare cyber security was the fastest growing market in the European region.

The Asia Pacific Healthcare Cyber Security Market is expected to grow at the fastest CAGR from 2024 - 2032 due to increased internet adoption and penetration in the healthcare industry. Moreover, the rise in digitalization and implementation of wireless medical devices, electronic health records (EHRs), and telemedicine drive regional healthcare cyber security industry expansion. Furthermore, the region's increasing cyber-attacks will drive market growth in the forecast period. 

Trend Micro, a multinational Japanese healthcare cyber security software company, introduced its Trend Micro Vision One extended response and detection platform in February 2021. Moreover, China’s market of healthcare cyber security held the largest market share, and the Indian market of healthcare cyber security was the fastest-growing market in the Asia-Pacific region.

Healthcare Cyber Security Key Market Players & Competitive Insights

Major market players are constantly investing in creating applications with advanced technologies to gain a competitive advantage in the healthcare cyber security industry. Healthcare cyber security is a growing market, with many companies working to improve their technology. In addition, market participants are launching new products, entering contracts, acquiring companies, increasing investments, and working with other organizations, among other significant market developments, to expand their  footprint.

The healthcare cyber security market’s major players, such as IBM, Atos SE, Cisco, McAfee, and others, are heavily investing in technological research and development to increase market demand. The healthcare cyber security industry has provided advanced antivirus and antimalware solutions with some of the most substantial advantages to the healthcare sector in recent years.

GE HealthCare is a multinational medical technology company based in Chicago, Illinois. GE Healthcare provides healthcare cyber security solutions, products, services, and consulting. GE Healthcare launched a new healthcare cyber security service offering in February 2020 that combines medical device competence, artificial intelligence, and service management tools to assist hospital groups in combating healthcare cyber security threats. Skeye, the new solution, supplements hospitals' capabilities and resources by providing real-time monitoring via a remote security operations center (SOC), assisting them in detecting, analyzing, and responding to cyber threats and events in real time.

Also, the International Business Machines (IBM) Corporation, also known as Big Blue, is an American multinational technology and healthcare cyber security provider with operations in over 175 countries and a headquarters in Armonk, New York. In November 2021, IBM Security announced plans to acquire ReaQta, a Dutch data security threat detection and intervention company, to expand its healthcare cyber security threat detection and management capabilities. 

ReaQta's endpoint security solutions use artificial intelligence (AI) to detect and control threats while remaining invisible to attackers automatically. This agreement will help IBM maintain its leadership position in the extended detection and responses (XDR) market, in line with its mission to provide security through an open strategy that spans various technologies, data, and hybrid cloud environments.

Key Companies in the healthcare cyber security market include

• Cisco


• IBM


• Kaspersky


• Intel Corporation


• Northrop Grumman Corporation


• Symantec Corporation


• Palo Alto Networks Inc


• Atos SE


• McAfee


• FireEye Inc

Healthcare Cyber Security Industry Developments

July 2022: Google Cloud has become an ambassador partner of the Health-ISAC (Health Information Sharing and Analysis Center), leveraging its many resources and experts to collaborate with industry leaders to defend and secure the healthcare sector. Following this, Google established the Google Cybersecurity Action Team (GCAT) to align security resources and other resources to assist the healthcare sector in improving cybersecurity efforts.

May 2022: Clearwater paid USD 17.7 million for CynergisTek, which offers healthcare cyber security, regulation, and IT services to assist highly regulated industries in addressing security and privacy concerns. This collaboration reinforces CynergisTek's people-centric cybersecurity, privacy, and auditing strategy and its critical role in supplying the health sector and its clients.

Healthcare Cyber Security Market Segmentation

Healthcare Cyber Security Threat Type Outlook

• Malware


• Distributed Denial-Of-Service (DDOS)


• Advanced Persistent Threat (APT)

Healthcare Cyber Security Solution Type Outlook

• Antivirus & Antimalware


• Risk & Compliance Management


• Security Information & Event Management


• DDOS Mitigation


• Identity & Access Management

Healthcare Cyber Security End User Outlook

• Hospitals & Clinics


• Pharmaceuticals & Biotechnology Industries


• Health Insurance Companies


• Medical Devices Companies

Healthcare Cyber Security Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America