Healthcare Cybersecurity Market Projected to Reach USD 92.1 Billion by 2032

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Healthcare Cybersecurity Market Projected to
Reach USD 92.1 Billion by 2032
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• Industry Insights

• 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.

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• 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.

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• Regional Analysis

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.

• Competitive Analysis

• Fortified Health Security
• Northrop Grumman
• CLCLEARDATA
• IBM
• Imperva
• Cisco Systems Inc
• Intel Corporation
• Palo Alto Networks Inc
• Trend Micro Incorporated

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