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

Healthcare Cybersecurity Market - By Threat (Ransomware, Malware & Spyware, Distributed Denial of Services, Phishing & Spear Phishing), By Security Measures (Application Security, Network Security, Device Security), By Deployment (On-premises, Cloud-based), By End-use (Hospitals, Pharma and Biotech Industries, Healthcare Payers) & Forecast, 2023 - 2032

Global Healthcare Cybersecurity Market size will expand considerably through 2032. Surging instances of data leaks in developing economies are a key driver behind market growth. The adoption of electronic health records (EHRs), telemedicine, and connected medical devices has revolutionized healthcare delivery making these countries prone to cyberattacks. As a result, healthcare organizations are investing heavily in device security solutions to protect sensitive patient data and ensure the safe operation of medical equipment.
The overall healthcare cybersecurity market is divided based on threat, security measures, deployment, end-use, and region.
Based on threat, the healthcare cybersecurity market value from the ransomware segment will grow exponentially through 2032. Ransomware attacks involve malicious actors encrypting critical data and demanding a ransom in exchange for its release. The healthcare sector, with its valuable patient data and critical operations, has become an attractive target. The need for effective cybersecurity measures has grown to prevent and respond to ransomware attacks. Growing adoption of anti-ransomware software for managing cyberattacks in healthcare organizations is supporting segment expansion.
Based on security measures, the healthcare cybersecurity market share from the device security segment will grow at over 18.5% CAGR from 2023 to 2032. Favorable government policies for medical device safety are contributing to segment growth. In fact, regulatory agencies, such as the U.S. FDA, have issued guidelines and regulations to address these concerns, emphasizing the need for manufacturers to incorporate security features and implement risk management practices. Compliance with these regulations has driven the demand for cybersecurity solutions in the medical device industry.
In terms of end-use, the healthcare cybersecurity industry from the hospital segment will amass over USD 30 billion by 2032. The increasing use of interconnected medical devices, such as infusion pumps and electronic health record systems, has introduced cybersecurity risks in hospitals. Vulnerabilities in these devices can be exploited to gain unauthorized access, manipulate patient data, or even disrupt medical procedures. In this regard, hospitals are implementing cybersecurity protocols to protect these devices and ensure patient safety.
Europe healthcare cybersecurity industry share will witness a notable CAGR from 2023 to 2032. Increasing adoption of digital health solutions, the growing number of cyberattacks targeting hospitals, and the stringent regulatory landscape are contributing to regional growth. The European Union's (EU) General Data Protection Regulation (GDPR) has played a crucial role in driving the adoption of device security measures across the region, as healthcare organizations strive to comply with the stringent data protection requirements and avoid hefty fines for non-compliance.