Global healthcare cyber security market size is
expected to reach nearly USD 10,848.87million by 2022, according to a new
report by Grand View Research, Inc. Key factors attributing to the growth of
the market include the increasing incidences of cyber attacks for misuse of
electronic patient health records (E-PHR), social security records, IP theft,
and others.
Cyber
attacks are constantly increasing across the globe. On previous encounters it
was witnessed that cyber attacks were focused on stealing, financial
information, billing information, and bank account numbers using stolen devices
with un-encrypted data, phishing and spam mails. Technological advancements
have led to advanced cyber warfare using SQL injections, advanced persistent
threats (APT), zero day attacks, and advanced malware.
Lack of
adequate IT spending by healthcare organizations and lack of awareness about
cyber crime have exposed the vulnerabilities of healthcare organizations. The
overall impact of cyber attacks on the hospitals and healthcare systems is
estimated to be nearly six billion per year.
Furthermore,
these organizations face internal threats due to factors such as the use of
cloud services, unsecure networks, employee negligence, bring your own device
(BYOD), lack of internal identification and security systems, stolen devices
with un-encrypted files.
Healthcare
cyber security market is segmented by, type of threat into malware, ddos,
advanced persistent threat (apt), spyware, lost and stolen devices, others. In
2013, Boston Scientific, St.Jude Medical and, Medtronic witnessed cyber attacks
and hacking. In 2015, Anthem, which is the second largest health insurance
provider in the U.S., witnessed a massive cyber attack leading to loss of 80
million customer records.
Security
information and event management (SIEM),risk and compliance management, DDoS
mitigation, antivirus, antimalware, identity and access management, intrusion
detection system (IDS)/intrusion prevention system (IPS) and others are the
solutions included in the scope of the study. These solutions can be used
individually or can be used as a suite of products providing layer wise
security.
Market
dynamics in this sector are dependent on the type of threat, effectiveness, and
frequency of attack, ability to detect and destroy. New types of threats are
detected each day, hence, the solutions need to be upgraded constantly to
provide adequate firewall security and prevent data breach.
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Further key findings from the study suggest:
- In 2014, North America held the largest market share of more than 41% owing to the presence of sophisticated healthcare infrastructure, and increasing collaboration between pharmaceutical, medical device industries, with regulatory authorities. This can be illustrated using the U.S FDA guidance document on networked medical devices.
- Furthermore, the U.S. is a prime target for cybercrimes due to, the presence of large fortune 500 healthcare organizations, full scale implementation of digital patient records, and use of extensive social security ids for various transactions.
- Asia Pacific is identified as one of the most lucrative regional market, growing at a CAGR of over 8.5% during the forecast period. Rapidly improving healthcare infrastructure and high level economic growth in developing countries such as China, India, and South Korea is expected to boost usage rates over the forecast period.
- Increasing number of internet users in China and India is expected to create a huge user base vulnerable to cyber-attacks. According to data published by the Internet and Mobile Association of India (IAMAI), the internet user base in India is expected to reach nearly 402 million by December 2015
- Key players operating in the healthcare cyber security market include, Cisco, IBM, MacAfee, Paulo Alto Networks, Symantec, Trend Micro Lockheed Martin, FireEye, Northrop Grumma, Kaspersky etc.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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