Health IT Security Market Outlook 2032
The global health IT security market size was USD 20.1 Billion in 2023 and is likely to reach USD 73 Billion by 2032, expanding at a CAGR of 15.4% during 2024–2032. The market growth is attributed to the escalating cyberattacks in healthcare and growing adoption of healthcare IT.
Health IT Security, also known as healthcare cybersecurity, focuses on safeguarding electronic protected health information (ePHI) within healthcare organizations. This includes data such as patient medical records, billing information, and diagnostic test results and prescriptions. Healthcare IT security is protecting IT infrastructure, which involves the securing networks, devices, and applications used to store, access, and transmit patient data.
Health IT security solutions employ a multi-layered approach to safeguard healthcare data. Firewalls and Intrusion Detection/Prevention Systems (IDS/IPS) form the first line of defense, protecting the entire network infrastructure from unauthorized access, malware, and data breaches. Endpoint Security solutions such as antivirus software, application whitelisting, and Endpoint Detection and Response (EDR) then secure individual devices such as laptops and desktops from malware, phishing attacks, and unauthorized access attempts.
Application security measures such as vulnerability management, patching, and secure coding practices ensure the security of healthcare applications used to access and manage patient data, Content security solutions, including data encryption and access controls, guarantee that ePHI is shielded from unauthorized disclosure, modification, or destruction. This comprehensive approach ensures the security of sensitive patient data throughout the healthcare IT ecosystem.
Impact of Artificial Intelligence (AI) in Health IT Security Market
Artificial intelligence (AI) is poised to significantly impact the Health IT Security Market. AI-powered solutions analyze vast amounts of healthcare data to identify and respond to cyber threats in real-time. This includes anomaly detection in network traffic, user behavior, and even medical data itself, potentially uncovering malicious activity before traditional methods.
AI automates security tasks, streamlining response times and reducing human error. The integration of AI introduces its own security challenges, as these systems require robust data protection and training to avoid bias or manipulation. Overall, AI presents a powerful tool for enhancing healthcare IT security, but its successful implementation requires careful consideration of its benefits and potential risks.
Health IT Security Market Dynamics
Major Drivers
Escalating cyberattacks in healthcare industries such as ransomware and data breaches, are propelling the market. Moreover, growing adoption of healthcare IT such as Electronic Health Records (EHR), telemedicine, and connected medical devices, is expected to drive the market during the forecast period.
Existing Restraints
High upfront cost of implementing and maintaining health IT security solution is restraining the market. Furthermore, the lack of skilled workforce is hindering the global market. The healthcare industry faces a shortage of cybersecurity professionals with the specialized skills needed to manage and maintain complex health IT security solutions. This lack of expertise hinders effective implementation and ongoing security management.
Emerging Opportunities
Focus on medical devices and security is proliferating novel opportunities in the market. The connected medical devices create security vulnerabilities. Furthermore, the blockchain technology offers a secure way of data sharing among authorized healthcare providers. The technology is expected to improve the interoperability between healthcare systems and facilitate secure collaboration while protecting patient privacy.
Scope of the Health IT Security Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Health IT Security Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2023
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Historic Data
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2017–2022
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Forecast Period
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2024–2032
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Segmentation
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Product and Services (Antivirus and Antimalware, Identity & Access Management Solutions, Encryption & Data Loss Prevention Solution, Risk & Compliance Management Solutions, Firewalls & Unified Threat Management (UTM) Solutions, and Intrusion Detection/Intrusion Prevention Systems), Application (Network Security, Endpoint Security, Application Security, Content Security), Delivery Mode (On-premise and On-demand), End-user (Healthcare Providers and Healthcare Payers)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Cerner Corporation; Cisco Systems Inc.; Dell Technologies; Epic Systems Corporation; Fortinet; MacAfee LLC; MEDITECH; Palo Alto Networks; and Symantec Corporation
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Market Segment Insights
Regional Analysis
In terms of region, the global health IT security market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominates the global market in 2023 owing to its top-notch infrastructure. High awareness and increasing adoption of technologies are driving the regional market. Furthermore, increasing focus on data security is propelling the market in North America.
The market in Asia Pacific is projected to grow at a significant pace in the coming years owing to the growing healthcare sector. Increasing investments in healthcare IT infrastructure is leading to rising revenue. Moreover, increasing demand for healthcare IT is expected to boost the market in the region during the forecast period.
Segment Analysis
Product and Services Segment Analysis
Based on product and services, the health IT security market is divided into antivirus and antimalware, identity & access management solutions, encryption & data loss prevention solution, risk & compliance management solutions, delivery mode firewalls and unified threat management (UTM) solutions, and intrusion detection/intrusion prevention systems. The antivirus and antimalware segment held the largest share of the global market in 2023 owing to prevalence of malware threat. The healthcare systems are prime targets for cybercriminals due to the sensitive nature of patient data. Antivirus and antimalware solutions provide a first line of defense against these ever-present threats.
The identity & access management system (IAM) segment is anticipated to grow at a substantial CAGR during the forecast period. Rise of cloud-based healthcare IT systems and the need for strict access controls to sensitive patient data thus, driving the segment. These solutions ensure that only authorized personnels are expected to access specific data and functionalities within the healthcare system.
Application Segment Analysis
On the basis of application, the global market is segregated into network security, endpoint security, application security, content security. The network security segment is anticipated to register a considerable CAGR during the forecast period due to it forming the foundational defense. Network security forms the first line of defense against a wide range of cyber threats, including malware, ransomware, unauthorized access attempts, and data breaches. It safeguards the entire healthcare network infrastructure, protecting all connected devices and systems.
The endpoint security segment is projected to register a robust growth during the assessment years owing surging use of connected device. Moreover, increasing focus in remote work is expected to propel the segment during the forecast period. Rise of remote patient monitoring and telemedicine solutions necessitates robust endpoint security to safeguard sensitive data on devices used by healthcare workers outside the traditional healthcare network perimeter.
Delivery Mode Segment Analysis
On the basis of delivery mode, the health IT security market is bifurcated into on-premise and on-demand. The on-premise segment registers a robust growth in 2023 due to the data security concerns. Healthcare organizations, especially large hospitals, often have concerns about entrusting sensitive patient data to cloud-based solutions. On-premise solutions offer them high control over data security and compliance.
The on-demand segment is expected to expand at a significant pace during the forecast period owing to the cost-effectiveness. The cloud-based solutions offer a subscription-based model, eliminating the need for upfront capital expenditure on hardware and software. Moreover, the scalability and flexibility of on demand delivery mode is expected to boost the segment during the forecast period.
End-user Segment Analysis
In terms of end-user, the market is segmented into healthcare providers and healthcare payers. The healthcare provider segment is expected account for a dominant share of the market during the forecast period owing to the direct responsibility for patient data. Healthcare providers directly manage and store a vast amount of sensitive patient data, making them a prime target for cyberattacks. The legal and ethical obligation to ensure the data security is fueling the segment. Additionally, enforcement of strict regulatory compliances and increasing reliance on technologies such as, Electronic Health Records (EHR), telemedicine, and connected medical devices are anticipated to drive the segment during the forecast period.
Segments
The health IT security market has been segmented on the basis of
Product and Services
- Antivirus and Antimalware
- Identity & Access Management Solutions
- Encryption & Data Loss Prevention Solution
- Risk & Compliance Management Solutions
- Firewalls & Unified Threat Management (UTM) Solutions
- Intrusion Detection/Intrusion Prevention Systems
Application
- Network Security
- Endpoint Security
- Application Security
- Content Security
Delivery Mode
End-user
- Healthcare Providers
- Healthcare Payers
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global health IT security market are Cerner Corporation; Cisco Systems Inc.; Dell Technologies; Epic Systems Corporation; Fortinet; MacAfee LLC; MEDITECH; Palo Alto Networks; and Symantec Corporation.
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In November 2022, Epic System Corporation and Google Cloud partnered to run Epic’s HER workloads on Google cloud. The partnership was established for superior innovation, efficiencies, and secured patient data. This accelerated the healthcare digital transformation and drive the market.
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In September 2020, GE Healthcare launched a cybersecurity service offering bringing together the medical device expertise, artificial intelligence, and process management tools to help hospital groups protecting themselves from cybersecurity threats. Skeye, augments hospitals’ is a new solution for existing resources and capabilities by providing proactive monitoring through a remote security operations center (SOC) for detecting, analyzing and responding to cybersecurity threats in real-time.
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