Healthcare Cyber Security Market .pdf
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Healthcare Cyber Security Market by End-Use, by Type
of Threat, by Type of Solution and Market Size, Market
Share, Application Strategies and Forecasts To 2022
Healthcare Cyber Security Market Overview:
Worldwide healthcare cyber security market volume was evaluated at nearly about 5.48 million
US dollars in year 2014 and is predicted to observe good market growth during the forecasted
span. Key aspects contributing to the fast expansion and growth of the industry includes
growing threats of cyber crimes, security compliance and regulatory control issues as well as
issues pertaining to leaking of confidential information from within the firm caused by the
internal aspects as well as external aspects. Further, few of the growing examples such as
patient intrusion, intellectual property thefts, confidentialities of business, loss & damage of
electronic records of patients, medical identity fraud, social security records and health records
of patients are also predicted to enhance the product utilization in the area of healthcare sector
during the estimated period.
View More Information: http://www.acutemarketreports.com/report/healthcare-cybersecurity-market
As per the estimates published by the ponemon institute, the normal cost of data infringe in a
hospice was greater than 1.96 million US dollars, with costs growing with the volume of
healthcare firm. The lack of adequate spending on information technology sector by healthcare
firms and lack of consciousness about the cyber crimes are the main reasons contributing
towards the growing attacks on healthcare firms. The global impact of these cyber attacks on
healthcare systems and hospices is predicted to be nearly 5.96 billion yearly in terms of total
income. Patient insurance and medical documentations are the main aspects responsible for
such cyber attacks.
Healthcare Cyber Security Market By End Use:
The trend of cyber attacks on medical equipment producers, insurance firms and
pharmaceuticals is rising all across the world. But the greatest impact has been observed by the
USA based firms. In year 2013, firms like St Jude Medical, Medtronic and Boston reported cases
of attacks, data violation and loss of data. In year 2015, a large scale attack was launched on
anthem which led to the loss of nearly eighty million documents.
In year 2014 federal bureau of investigation in USA issued a PIN (private industry notification)
to the healthcare section in USA. This notice displays the threat of virtual conflict against
healthcare firm and is predicted to fuel the execution of high security standards to handle new
age cyber conflict.
In year 2014, pharmaceuticals & chemicals section held majority of market share. It held more
than twenty percent of the total market share of the global healthcare cyber security market.
Further, clinics are predicted to be rapidly expanding end use section which will grow at a CAGR
rate of more than 8.96% in future. The health conscious end users are very susceptible to cyber
attacks, owing to lack of complete network safety policy, bureaucratic hierarchy arrangement,
low capital in information technology sector, less employee involvement and lack of education
on cyber crimes.
Healthcare Cyber Security Market By Threat:
Cyber attacks are growing at a fast pace all across the world. The kind of threat, occurrence of
attack and effect of each attack differs across various firms depending upon their internal
security controls. Earlier these attacks were concentrated more on burglary of credit card
information, phishing, information billing, spam mails and unencrypted data. The time taken to
recognize breach of confidentiality & safety violations can be very time consuming if adequate
internal security firewalls are not used. This can create a huge impact on the accountability and
credibility of the firm.
Further, using modern malware, SQI injections, zero day attacks, DDoS, APT (advanced
persistent attacks), root kits and click jacking, the cyber culprits can easily overcome the rules
which would lead to intellectual property loss, loss of patient records and los of important data.
Threat from inside sources is also high due to organizational policies like BOYD (bring your own
device) and use of utilization of cloud services.
Lack of internal recognition systems, utilization of insecure networks, negligence of employees,
loss of equipments with un encrypted files or stealing of data by employee are few of the
factors adding to the growing rate of crimes all across the world. In year 2014, malware held
the biggest market share and is predicted to persist its healthy expansion and growth during
the forecasted period.
Category: Main topic classifications
Healthcare Cyber Security Market By Solution:
To handle the different threats, cyber firms have been creating manifold items that could be
used by individuals or used as a suite of items offering layer wise solutions. Few of the main
solutions used for protection of data or data security includes identity as well as access
management , risk management, compliance management, event management, security
management, intrusion prevention system, antivirus, data encryption software, antimalware
software and firewalls.
Generally firms execute greater than two layered or three layered security framework to
recognize the threats and control the data flow, data information and check the different other
business transactions made by every user.
In year 2014, identity management as well as access management held optimum market share
of nearly about 13.96%. But, compliance and risk management is predicted to be the most
profitable solution expanding at a CAGR rate of above 8.96% during the forecasted period.
Growing trends of data violations and lapses in security are predicted to enhance the overall
growth of the healthcare cyber security market globally. It will also boost the expenditure on
maintenance of secured IT solutions by healthcare firms. Further, advanced technologies,
growing cyber attacks, rising cases of criminal attacks and the tough challenges faced by the
internet world are predicted to enhance the rates of utilization of these solutions in future.
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