According to the research report titled ‘Healthcare Cybersecurity Market Size By Threat Type (Ransomware, Malware & Spyware, Distributed Denial of Services (DDoS), Phishing & Spear Phishing), By Security Measures (Application Security, Network Security, Device Security), By Deployment (On-premises, Cloud-based), By End-use (Hospitals, Pharmaceuticals and Biotechnology Industries, Healthcare Payers), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027’, available with MarketStudyReport, healthcare cybersecurity market is anticipated to witness notable gains by the year 2027.

The global healthcare cybersecurity market is primarily driven by major technological breakthroughs in healthcare cybersecurity software, growing cognizance about protecting patient and financial information, as well as the increasing prevalence of cyberattacks around the globe.

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Furthermore, rising investments from industry players in R&D activities to improve existing medical cybersecurity infrastructure, rapid adoption of IoT, smart medical equipment & mobile devices, as well as rapid shift towards digital healthcare infrastructure, have increased the vulnerability of healthcare services to cyber threats, resulting in a greater need for cybersecurity in the field, which has positively impacted business outlook in the recent years.

Based on threat type, the phishing & spear phishing segment was worth USD 2.5 billion in 2020 and is slated to generate significant returns through 2027, owing to lack of large-scale protection, and growing demand for effective healthcare cybersecurity solutions in the industry.

In terms of security measures, the application security segment of worldwide healthcare cybersecurity industry held 27.2% revenue share in 2020 and is poised to grow significantly by 2027, due to increasing public awareness of the availability of cutting-edge cybersecurity solutions that guard against spam, viruses, and illegal access of systems.

On the basis of deployment, the on-premises segment was worth USD 2.4 billion in 2020 and is reckoned to amass notable gains through the review period, owing to several benefits such as strong data security, reduced chance of data breaches, and complete control over data storage and software changes.

By end-use scope, the hospitals segment is poised to record a CAGR of 17% through the forecast timeframe, because of widespread incorporation of cybersecurity solutions in the healthcare sector for better management of voluminous amounts of patient data.

Regionally, Latin America industry held 8.3% revenue share in 2020 and is predicted to grow at a rapid pace over 2021-2027, on the back of rising occurrence of ransomware attacks, in consort with widespread usage of cybersecurity solutions as a result of increased internet usage across the region.

The key players in global healthcare cybersecurity market are Trend Micro Inc, Symantec(Broadcom Inc), Palo Alto Networks, Inc, Medigate Corporation, McAfee Corp, Imperva Inc, International Business Machines Corporation, Fortified Health Security, FireEye, Inc, Cisco Systems Inc, and Atos SE.