Privacy Management Software In Healthcare Market Size, Share & Trend Analysis Report By Deployment (On-premise, Cloud), By Application, By End-use (Healthcare Provider, Healthcare Payer), By Region, And Segment Forecasts, 2024 - 2030

Privacy Management Software In Healthcare Market Size, Share & Trend Analysis Report By Deployment (On-premise, Cloud), By Application, By End-use (Healthcare Provider, Healthcare Payer), By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global privacy management software in healthcare market size was estimated at USD 430.88 million in 2023 and is anticipated to grow at a CAGR of 15.4% from 2024 to 2030. This growth is driven by the increasing need to comply with stringent data privacy regulations and protect sensitive patient information. As healthcare organizations adopt digital solutions and electronic health records (EHRs), the risk of data breaches and cyber threats escalates, necessitating robust privacy management systems.

The market is expanding as more healthcare providers recognize the importance of safeguarding patient data to maintain trust and avoid hefty penalties associated with non-compliance. Continuous advancements in privacy management technologies further contribute to market growth by offering more efficient and comprehensive solutions. For instance, in July 2023, Thales introduced a Data Security Platform as a Service, offering users seamless integration with a partner ecosystem of security vendors. The platform supports enterprise storage, servers, databases, applications, and cloud environments.

Privacy management software market in healthcare need to comply with regulations such as the Health Insurance Portability and Accountability Act (HIPAA) in the U.S., the General Data Protection Regulation (GDPR) in Europe, and other regional data protection laws. These regulations mandate strict data privacy and security measures to ensure better utilization in the healthcare industry. Privacy management software streamlines compliance by providing tools for data mapping, consent management, risk assessments, and incident response, enabling organizations to efficiently manage their obligations and demonstrate accountability.

In addition, the rising incidence of data breaches in the healthcare sector significantly drives the demand for privacy management software. Breaches can result in substantial financial losses, reputational damage, and loss of patient trust. Privacy management software assists healthcare organizations in identifying vulnerabilities, monitoring data access, and responding swiftly to security incidents. By implementing robust privacy management solutions, healthcare providers can mitigate the risks associated with data breaches and enhance their overall cybersecurity posture.

Furthermore, advancements in technology are propelling the growth of the privacy management software market in healthcare. Innovations such as artificial intelligence (AI), machine learning, and blockchain are being integrated into privacy management solutions to enhance their capabilities. For instance, in December 2022, OneTrust unveiled the Trust Intelligence Platform, creating a new technology category aimed at addressing critical business challenges related to trust and transparency. This platform provides organizations with comprehensive visibility across all trust domains, leverages AI and regulatory intelligence for informed actions, and uses automation to integrate trust as a core design principle.

Global Privacy Management Software In Healthcare Market Segmentation

This report forecasts revenue growth at country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the privacy management software in healthcare market report on the basis of offering, application, end-use and region.

• Deployment Outlook (Revenue, USD Million, 2018 - 2030)
• Cloud
• On-Premise
• Application Outlook (Revenue, USD Million, 2018 - 2030)
• Data Discovery & Mapping
• Data Subject Access Request (DSAR)
• Privacy Impact Assessment (PIA)
• Consent & Preference Management (CPM)
• Incident & Breach Management
• Vendor & Third Party Risk Management
• Other Application
• End-use Outlook (Revenue, USD Million, 2018 - 2030)
• Healthcare Provider
• Healthcare Payer
• Lifescience Companies
• Others
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Norway
• Denmark
• Sweden
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Thailand
• Latin America
• Brazil
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait

Please note The report will be delivered in 2-3 business days upon order notification.