Cyber Security Market In Healthcare - Forecast(2019 - 2024)

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Cyber Security Market In Healthcare Overview:

Approximately half the world’s population is now online. According to ICT development report released by the World Bank and the International Telecommunication Union, 45.794% of the world’s population can access the internet now.[1] A population of this magnitude is both empowering and dangerous because on one hand, as it is a source of infinite information and potential, whereas on the other, it is equally destructive to human privacy. The virtual world in now engulfed with breaches of different types and levels of enormity. Cyber security has become the need of the hour, especially in the healthcare sector which is witnessing recurrent data breaches. These breaches compromise massively on financial data of the consumers subscribed to a hospital, while also stealing information such as social security numbers of people. Cyber security market in healthcare hence has immense potential to grow and impact its consumers.

With rising instances of compromise of public data in the medical sector, the cyber security market in the healthcare industry will experience growth with a burgeoning compound annual growth rate (CAGR) of 14.16% during the forecast period of 2019-2025. In 2018, this market had an estimated size of $5.46 billion.

Cyber Security Market In Healthcare Outlook:

While visiting a hospital or a clinic, a consumer is requested to submit their data which normally includes their social security numbers, financial details such as debit/credit card information, and familial history. All of this is stored in the form of electronic health records (EHRs.) Information of this size is enough for potential hackers to capitalize on and commit major fraud incidences which in their entirety can compromise data of around half a million people in one attempt. This is where cyber security market in healthcare takes the center stage as it provides an absolute solution to this problem by various processes including prevention through anti-virus, data loss protection, identity and access management, etc. North America which houses the Silicon Valley is undoubtedly the leading region of this market. In 2018, it held an outstanding regional share of 37.61% and has the potential to further capitalize on cloud security, which is a prominent segment of this market. This application segment is expected to grow with a superlative CAGR of 18.57% during the forecast period of 2019-2025.

Cyber Security Market In Healthcare Growth Drivers:

Ø  Inevitability Of Online Data Declaration

With nearly every website now requiring personal details of consumers before providing access to browsing, keeping data secure has become a challenge. Manual work is a thing of the past and with hospitals now storing their patients’ data online, it has become increasingly prone to phishing attacks. This is providing acute growth to the cyber security market in healthcare sector and allowing its growth to happen organically.

Ø  The Rise Of Artificial Intelligence (AI)

Machine Learning and AI has made data breaching more difficult to detect and prevent. This has not only led to an increase in the frequency of online scams, the complexity of these phishing attacks has also strengthened. Better execution of preexisting attack types will be more prominent than development of newer forms of attacks. This has enabled key players of this market to increase their efforts and provide impetus to the market.    

Cyber Security Market In Healthcare Challenges:

One thing threatening the cyber security market in healthcare is artificial intelligence. With AI and Industry 4.0 taking over our devices, phishing attacks for practiced hackers has become a cakewalk. A possible way to combat this challenge is to develop enhanced devices and software that are equipped with breach detection methods of tracking attacks on security of this stature.

Cyber Security Market In Healthcare Key Players Perspective:

Key players operating in the cyber security market in healthcare are Cisco Systems, Inc., FireEye, Inc., IBM Corporation, Kaspersky Lab, Lockheed Martin Corporation, MacAfee, Inc., Northrop Grumma Corporation, Palo Alto Networks, Inc., Sensato, and Symantec Corporation.

Headquartered in Moscow, Russia, Kaspersky Lab is a multinational company that specializes in developing anti-virus software. The company has developed an advanced antivirus software that provides various functionalities including keeping financial information safe, privacy protection, parental control, and protection to all connected devices. 

Cyber Security Market In Healthcare Trends:

Key market players are focusing on developing better software that incorporates artificial intelligence to tackle high risk security data breaches in hospitals. 

Ø  Chronicle by Alphabet

Chronicle is a cybersecurity company started by Google’s parent company called Alphabet in the year 2018. Using artificial intelligence, the company plans on developing security analytics that can be universally functional. Chronicle has built a data storing feature called Backstory that has various traits including being infinitely elastic with fixed pricing and a storage facility that is unparalleled. Easy of accessibility is another feature that is helping Backstory become prominent in hospitals and providing the cyber security market in healthcare with adequate growth.

Cyber Security Market In Healthcare Research Scope

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the cyber security market in healthcare market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of segments in the cyber security market in healthcare, and their specific applications in different areas.

Cyber Security Market In Healthcare Report: Industry Coverage

The cyber security market can be segmented on the basis of type and end-user industry. By type, the market can be divided into services and solutions. And based on end-user industry, the market can be fragmented into providers, business associates, and payers.

The cyber security market in healthcare report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

•           North America: The U.S., Canada, Mexico

•           South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•           Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

•           APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•           Middle East and Africa: Israel, South Africa, Saudi Arabia

[1] https://data.worldbank.org/indicator/it.net.user.zs

1. Cyber Security Market In Healthcare - Overview
1.1. Definitions and Scope
2. Cyber Security Market In Healthcare - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Cyber Security Market In Healthcare 
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis 
4. Cyber Security Market In Healthcare – Startup companies Scenario Premium
4.1. Top 10 startup company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Market Shares
4.1.4. Market Size and Application Analysis
4.1.5. Venture Capital and Funding Scenario
5. Cyber Security Market In Healthcare – Industry Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing business index
5.3. Case studies of successful ventures
5.4. Customer Analysis – Top 10 companies
6. Cyber Security Market In Healthcare Forces
6.1. Drivers
6.2. Constraints
6.3. Challenges
6.4. Porters five force model
6.4.1. Bargaining power of suppliers
6.4.2. Bargaining powers of customers
6.4.3. Threat of new entrants
6.4.4. Rivalry among existing players
6.4.5. Threat of substitutes 
7. Cyber Security Market In Healthcare -Strategic analysis
7.1. Value chain analysis
7.2. Opportunities analysis
7.3. Product life cycle
7.4. Suppliers and distributors Market Share
8. Cyber Security Market In Healthcare – By Type (Market Size -$Million / $Billion)
8.1. Market Size and Market Share Analysis 
8.2. Application Revenue and Trend Research
8.3. Product Segment Analysis
8.3.1. Services
8.3.1.1. Cyber consulting
8.3.1.2. GDPR
8.3.1.3. Others
8.3.2. Solutions
8.3.2.1. Security Solutions
8.3.2.1.1. Web application based security
8.3.2.1.2. Mobile application based security
8.3.3. Endpoint Security
8.3.4. Threat Detection
8.3.5. Data Loss Prevention
8.3.6. Email encryption
8.3.7. Incident Response
9. Cyber Security Market In Healthcare – By End Use Industry(Market Size -$Million / $Billion)
9.1. Segment type Size and Market Share Analysis 
9.2. Application Revenue and Trends by type of Application
9.3. Application Segment Analysis by Type
9.3.1. Providers
9.3.1.1. Hospitals
9.3.1.2. Clinics
9.3.2. Business Associates
9.3.2.1. Payments
9.3.2.2. Health records
9.3.3. Payers
9.3.3.1. Insurance carriers
9.3.3.2. Health plan sponsors
10. Cyber Security Market In Healthcare - By Geography (Market Size -$Million / $Billion)
10.1. Cyber Security Market In Healthcare - North America Segment Research
10.2. North America Market Research (Million / $Billion)
10.2.1. Segment type Size and Market Size Analysis 
10.2.2. Revenue and Trends
10.2.3. Application Revenue and Trends by type of Application
10.2.4. Company Revenue and Product Analysis
10.2.5. North America Product type and Application Market Size
10.2.5.1. U.S.
10.2.5.2. Canada 
10.2.5.3. Mexico 
10.2.5.4. Rest of North America
10.3. Cyber Security Market In Healthcare - South America Segment Research
10.4. South America Market Research (Market Size -$Million / $Billion)
10.4.1. Segment type Size and Market Size Analysis 
10.4.2. Revenue and Trends
10.4.3. Application Revenue and Trends by type of Application
10.4.4. Company Revenue and Product Analysis
10.4.5. South America Product type and Application Market Size
10.4.5.1. Brazil  
10.4.5.2. Venezuela
10.4.5.3. Argentina
10.4.5.4. Ecuador
10.4.5.5. Peru
10.4.5.6. Colombia 
10.4.5.7. Costa Rica
10.4.5.8. Rest of South America
10.5. Cyber Security Market In Healthcare - Europe Segment Research
10.6. Europe Market Research (Market Size -$Million / $Billion)
10.6.1. Segment type Size and Market Size Analysis 
10.6.2. Revenue and Trends
10.6.3. Application Revenue and Trends by type of Application
10.6.4. Company Revenue and Product Analysis
10.6.5. Europe Segment Product type and Application Market Size
10.6.5.1. U.K  
10.6.5.2. Germany 
10.6.5.3. Italy 
10.6.5.4. France
10.6.5.5. Netherlands
10.6.5.6. Belgium
10.6.5.7. Spain
10.6.5.8. Denmark
10.6.5.9. Rest of Europe
10.7. Cyber Security Market In Healthcare – APAC Segment Research
10.8. APAC Market Research (Market Size -$Million / $Billion)
10.8.1. Segment type Size and Market Size Analysis 
10.8.2. Revenue and Trends
10.8.3. Application Revenue and Trends by type of Application
10.8.4. Company Revenue and Product Analysis
10.8.5. APAC Segment – Product type and Application Market Size
10.8.5.1. China 
10.8.5.2. Australia
10.8.5.3. Japan 
10.8.5.4. South Korea
10.8.5.5. India
10.8.5.6. Taiwan
10.8.5.7. Malaysia
11. Cyber Security Market In Healthcare - Entropy
11.1. New product launches
11.2. M&A's, collaborations, JVs and partnerships
12. Cyber Security Market In Healthcare – Industry / Segment Competition landscape Premium
12.1. Market Share Analysis
12.1.1. Market Share by Country- Top companies
12.1.2. Market Share by Region- Top 11 companies
12.1.3. Market Share by type of Application – Top 11 companies
12.1.4. Market Share by type of Product / Product category- Top 11 companies
12.1.5. Market Share at global level- Top 11 companies
12.1.6. Best Practises for companies
13. Cyber Security Market In Healthcare – Key Company List by Country Premium
14. Cyber Security Market In Healthcare Company Analysis
14.1. Market Share, Company Revenue, Products, M&A, Developments
14.2. XL Catlin Group Limited
14.3. American International Group
14.4. Axis Holding capitals
14.5. GSK Insurance
14.6. Company 5
14.7. Company 6
14.8. Company 7
14.9. Company 8
14.11. Company 9
14.11. Company 11 and More
"*Financials would be provided on a best efforts basis for private companies"
15. Cyber Security Market In Healthcare -Appendix
15.1. Abbreviations
15.2. Sources
16. Cyber Security Market In Healthcare -Methodology Premium
16.1. Research Methodology
16.1.1. Company Expert Interviews
16.1.2. Industry Databases
16.1.3. Associations
16.1.4. Company News
16.1.5. Company Annual Reports
16.1.6. Application Trends
16.1.7. New Products and Product database
16.1.8. Company Transcripts
16.1.9. R&D Trends
16.1.11. Key Opinion Leaders Interviews
16.1.11. Supply and Demand Trends