The global healthcare cybersecurity market size is projected to grow from USD 18.2 billion in 2023 to USD 35.3 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period. The major factors driving the market growth include the rise in cyberattacks along with security and privacy concerns, the rising acceptance of lot and connected devices, and the growth in the deployment of cloud-based solutions in the healthcare sector.

By Security type, the application security segment holds the largest market size
The healthcare cybersecurity market is segmented based on security types: network, cloud, application, and endpoint and IoT security. The application security segment is gaining traction due to the increased use of APIs for data and application delivery in mobile, cloud, and IoMT. It is an important aspect of the healthcare cybersecurity market, as it includes healthcare applications, including electronic health record (EHR) systems, patient portals, and mobile health apps, also it stores and processes sensitive patient information. Additionally, application security involves securing these applications from cyber threats, such as data breaches, hacking attempts, and unauthorized access. Thus, it can be concluded that the application security segment holds the largest market size during the forecasted period.

By Offering, the services segment to register the highest CAGR during the forecast period
The healthcare cybersecurity market is segmented based on solutions and services, of which the services segment is to grow at the highest CAGR during the forecasted period. Healthcare organizations often turn to service providers to help them identify and mitigate potential vulnerabilities as they themselves lack the internal expertise and resources to manage cybersecurity risks. Thus, driving the healthcare cybersecurity services segment. Additionally, the advantage of getting rid of several standalone legacy compliance tools is projected to drive the need for healthcare cybersecurity services. Also, the growing interest of organizations in integrated solution-related services would drive market growth. Apart from these, a huge presence of cybersecurity service providers boosts the cybersecurity market.

By services, the professional services segment is to grow at the largest market size during the forecast period
Professional services are provided to strategically help clients organize, design, analyze, implement, and manage technological systems. These services include consulting, training and education, design and implementation, risk and threat assessment, and support and maintenance and play a vital role in the healthcare cybersecurity ecosystem. Furthermore, due to the presence of several vendors in the healthcare cybersecurity ecosystem, these services are prevalent in the healthcare cybersecurity market. Thus, the professional services segment is projected to hold a larger market share in the healthcare cybersecurity market.

Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

  • By Company Type: Tier 1 – 25%, Tier 2 – 40%, and Tier 3 – 35%
  • By Designation: C-level – 30%, Directors – 35%, and Managers – 35%
  • By Region: North America – 15%, Europe – 25%, Asia Pacific – 30%, MEA – 10%, Latin America -20%

Major vendors in the global healthcare cybersecurity market include IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (Israel), Fortinet (US), Trend Micro (Japan), Dell EMC (US), CrowdStrike (US), Kudelski Security (Switzerland), CloudWave (US), Claroty (US), Imperva (US), LogRhythm (US), Kaspersky (Russia), Sophos (UK), Juniper (US), Forcepoint (US), Verimatrix (US), Forescout (US), Imprivata (US), SailPoint Technologies (US), Saviynt (US), JFrog (US), Fortified (US), ClearDATA (US), Cynerio (US), MedCrypt (US), Armis (US), Cylera (US), Zeguro (US), Virta Laboratories (US), Protenus (US), Censinet (US), and Sternum (Israel).
The study includes an in-depth competitive analysis of the key players in the healthcare cybersecurity market, their company profiles, recent developments, and key market strategies.

Research Coverage
The report segments the healthcare cybersecurity market and forecasts its size by offering (solutions and services), services (professional services and managed services), solution types (IAM, antivirus/antimalware, log management and SIEM, encryption and tokenization, compliance and policy management, patch management, and other solution types), threat type (phishing, ransomware, malware, DDoS, advanced persistent threat, and other threat types), security type (network security, cloud security, application security, and endpoint and IoT security), end use industry (healthcare and healthcare facilities, medical device manufacturers, pharmaceuticals and biotechnology, healthcare insurance providers and payers, telehealth and digital health providers, and government healthcare agencies), and region (North America, Europe, Middle East & Africa, Asia Pacific, and Latin America).
The study also includes an in-depth competitive analysis of the market’s key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall healthcare cybersecurity market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Increase in cyberattacks and concerns related to security and privacy, Rising adoption of IoT and connected devices, Increasing adoption of cloud-based solutions in the healthcare industry), restraints (Security budget constraints in developing economies, Insufficient training and dearth of knowledgeable IT staff), opportunities (Increasing use of healthcare IT solutions in outpatient care facilities, IoT security playing a critical role in healthcare cybersecurity sector), and challenges (Interoperability issues in healthcare cybersecurity, Vulnerability and concern related to medical data).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the healthcare cybersecurity market.
  • Market Development: Comprehensive information about lucrative markets – the report analyses of the healthcare cybersecurity market across varied regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the healthcare cybersecurity market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (Israel), Fortinet (US), Trend Micro (Japan), among others in the healthcare cybersecurity market strategies.