Healthcare Cybersecurity Market Size By Threat (Ransomware, Malware & Spyware, Distributed Denial of Services (DDoS), Phishing & Spear Phishing), By Security Measures (Application Security, Network Security, Device Security), By Deployment (On-premises, C

Healthcare Cybersecurity Market Size By Threat (Ransomware, Malware & Spyware, Distributed Denial of Services (DDoS), Phishing & Spear Phishing), By Security Measures (Application Security, Network Security, Device Security), By Deployment (On-premises, Cloud-based), By End-use (Hospitals, Pharmaceuticals and Biotechnology Industries, Healthcare Payers), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

Healthcare Cybersecurity Market is expected to gain exponential traction through 2030 owing to rising instances of cyber-attacks in the healthcare sector in both developed and developing countries.

Healthcare professionals are increasingly using effective healthcare cybersecurity solutions to protect medical data distributed across a vast network that is susceptible to malware and virus attacks. Furthermore, the integration of IoT Security and AI/ML & cloud technology is promoting market growth.

Notably, in 2021, according to IBM, the average cost of data breaches in healthcare increased by 29.5%, from USD 7.13 million in 2020 to USD 9.23 million in 2021. The upsurge in cyber-attacks are also bolstering product uptake.

The healthcare cybersecurity market is segregated based on threat, security measures, deployment, end-use, and region.

As per threat, the phishing and spear-phishing segment is expected to grow at more than 18.5% CAGR through 2030. Healthcare companies are using anti-phishing techniques to counteract breaches and avoid serious situations to prevent disclosure of personal data, which is likely to accelerate segment development.

Based on security measures, the market has been bifurcated into application security, network security, device security, and others. The others segment, which includes edge security, endpoint security, and data security, was valued at approximately USD 810.3 million in 2021. The rising BYOD trend or the use of personal devices in hospitals to increase workflow and efficiency is augmenting segment growth. In light of the remote employment trend, cybersecurity risks in the healthcare sector have increased, as stated by the Cybersecurity and Infrastructure Security Agency (CISA), which is set to contribute to segment progress.

As per deployment, the cloud-based segment is anticipated to expand significantly in the future due to the growing usage of cloud storage technology in hospitals. Cloud computing in healthcare provides primary platform for storage and maintenance of data, which is foreseen to increase the demand for cloud-based cybersecurity systems in the coming years.

To cite an instance, in March 2022, the UAE cybersecurity council partnered with AWS, a provider of on-demand cloud computing, to accelerate the adoption of cloud services by public agencies and regulated industries, such as financial services and healthcare.

Meanwhile, the MEA healthcare cybersecurity market was valued at over USD 580 million in 2021 and is projected to observe strong expansion through 2030owing to an increase in telemedical services. Moreover, the growing interest of healthcare professionals in technically advanced cyber security software, along with a rise in cyberattacks, is speculated to drive regional market growth. According to Help AG, a computer security service provider, the UAE saw a 183% spike in distributed denial of service (DDoS) attacks from 2019 to 2020, and another 37% surge in 2021.