Latest News- Healthcare Cybersecurity Market: Hospitals and healthcare facilities is expected to lead the End-user segment during 2025-2029

The Healthcare Cybersecurity Market is being driven by Growing cybersecurity threat in healthcare sector

The Healthcare Cybersecurity Market is expected to grow at a CAGR of 14.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 19574.7 million. The healthcare industry's heightened focus on cybersecurity is driving significant collaboration between vendors to strengthen data security and ensure reliability. With the increasing intricacy of cyber threats, there is a pressing demand for comprehensive, integrated solutions to safeguard sensitive healthcare data. In March 2023, IBM and Cohesity announced a strategic partnership to address this need. Their collaboration introduced IBM Storage Defender, a solution that combines data protection, cyber resilience, and data management capabilities. Designed to shield enterprise data layers from various threats, including ransomware, human error, and sabotage, IBM Storage Defender represents a crucial step forward in bolstering healthcare cybersecurity. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing cybersecurity threat in healthcare sector
• Adoption of digital health technologies
• Expansion of healthcare data centers

However, the market also witnesses some limitations, which are as follows:

• High initial cost
• Lack of skilled professionals in cybersecurity domain
• Stringent regulations associated with healthcare cybersecurity

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Market Scope in Healthcare Cybersecurity Market Research Report

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Research Analysis Overview

The healthcare industry's increasing reliance on digital technologies brings new cybersecurity challenges, with sensitive medical data being a prime target for hackers. Ransomware attacks on healthcare providers and insurers are common, and the dark web is a significant threat for stolen patient data. To mitigate risks, healthcare organizations need robust data protection and secure network architecture. Zero-day attacks and IoT security are critical concerns, as are cloud-based solutions, smartphones, and 5G technology. Cybersecurity solutions are essential for IoMT, remote patient monitoring, and connected devices. Patient care, cyberattack incidents, and cybersecurity professionals are all impacted by these threats. The pharmaceutical, biotechnology, and insurance sectors also face patient data security challenges in the era of remote care and medical devices. Generative AI and AI algorithms can help strengthen cybersecurity infrastructure, but they also introduce new vulnerabilities.

Market Research Overview

The healthcare cybersecurity market is a significant segment within the larger IT consulting and other services market. With the increasing digitization of sensitive medical data, the risk of ransomware attacks, hacking, and data breaches on the dark web has become a major concern for healthcare providers. To mitigate these threats, there is a growing demand for advanced data protection solutions and secure network architecture. Zero-day attacks pose a particular challenge, making it essential for healthcare organizations to partner with cybersecurity experts to stay ahead of evolving threats. The global IT consulting and other services market, which includes companies providing IT consulting and information management services, is expected to grow due to increased government investments in IT infrastructure and the need for cybersecurity expertise in the healthcare sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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