Healthcare Cyber Security Market by Type of Threat, Type of Solution, and End User - Global Industry Analysis and Forecast to 2025

Report Code : HC0692

Medical devices such as computers and databases are prone to number of cyber-attacks, impacting privacy and effectiveness of medical devices and systems. This vulnerability to cyber-attacks increases with increasing use of internet for connectivity and for accessing & storing vital information. Healthcare industry is witnessing rapid technological advancements, however many healthcare providers or organizations haven’t adequately invested in IT security measures for protecting vital information that is stored in the form of healthcare electronic records, repositories and databases and personal medical devices. Rapid advancements and adoption of high end technologies such as cloud storage is transforming the way in which healthcare systems are delivered but on the other side it is increasingly becoming more prone to cybercrimes and cyber-attacks. Worldwide cyber security attacks had increased by 40% in 2015. Cybercriminals uses various tools and techniques such as viruses and malware for breaching vital data in healthcare. Medical devices including CT scans and MRI, medical lasers and surgical machines, life supporting equipment such as ventilators, financial and employee information and technological instruments such as computers, telephones and firewalls is increasingly becoming target of cybercriminals.

Cybercrimes and cyber frauds can be prevented by employing comprehensive security measures to safeguard against cyber threats. A healthcare provider can use number of defensive strategies to prevent data from being hacked. For instance, in order to prevent vulnerable threats, healthcare organizations can use range of anti-viruses and web filtering software to detect any infection or threat entering in servers and users end-points. Similarly healthcare organization can design and developed respond system that enables employees to notify any data breach by giving alert signal to other end points as well as employees so that breach can comprehend without extensive ancillary damage.

Increasing incidences of cybercrime, introduction of supportive government regulations and acts (IT information Act 2000, India) and rising incidence of internal and external data leaks is expected to increase demand for healthcare cyber security systems. Furthermore, high prevalence of cyber thefts such as theft of medical secrets, important patent information and exclusive data of patients as well as employees will further drive the global market. However lack of awareness and availability of skilled and trained professionals is expected to hamper growth of the market.

Major players operating in the global healthcare cyber security market includes Kaspersky, Northrop Grumman, Fire Eye, Symantec, Cisco, Paulo Alto Networks, Lockheed Martin, Trend Micro, McAfee, IBM Corporation, and Sensato. These companies are focusing on upgrading their products to deliver better threat security to their clients. For Instance, McAfee, in 2017 has upgraded their product (antivirus and antimalware) that offers various benefits such as protection to unlimited devices, one security solution to desktops and wearable technologies, ability to secure all devices through one end point among other features owing to increase cyber-attacks especially rise in ransomware attacks (malicious software that blocks access to electronic devices).

Increasing usage of smartphones, technological advancements and increasing cyber-crimes is expected to provide ample opportunities for players operating in the global market. Emerging markets like India and china with increasing smartphone and wearable technology having vital information about health status of users and rapidly evolving healthcare infrastructure will drive the market in coming years. According to study conducted by Internet and  Mobile association of India in 2015-2016, the number of internet users is expected to be around 432 million in Dec 2016, and this number is expected to reach 465 million by June 2017. Such high prevalence of internet users will increase cybercrime attacks in next few years. Furthermore, with increasing mergers and acquisitions in healthcare sector, more and more healthcare providers will depend on cyber security measures to protect financial as well as other important information and databases.

Healthcare Cyber Security Market Segmentation:

By Type of Threat

  • Pharmaceuticals & Chemicals
  • Medical Devices
  • Health Insurance
  • Hospitals
  • Others

By Type of Solution

  • Malware
  • DDoS
  • Advanced Persistent Threats (APT)
  • Spyware
  • Lost or Stolen Devices
  • Others

By End User

  • Pharmaceuticals & Chemicals
  • Medical Devices
  • Health Insurance
  • Hospitals
  • Others

By Region

  • North America
  • U.S
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Saudi Arabia
  • Turkey
  • United Arab Emirates
  • Others

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers

 

Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

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