Asia Pacific Healthcare Cyber Security Market By Threat Type (Malware, DDoS, Advanced Persistent Threat, Spyware, Lost or Stolen Devices and Others), By End Use (Hospitals, Health Insurance, Pharma & Chemicals, Medical Devices and Other End uses), By Solution (Antivirus and Antimalware, Intrusion Detection System/ Intrusion Prevention System, Security Information and Event Management, Identity and Access Management, Risk and Compliance Management, DDoS Mitigation and Other Solutions), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Healthcare Cyber Security Market would witness market growth of 18.2% CAGR during the forecast period (2021-2027).
Healthcare seems to be the appealing target for cyber attackers as medical information is significantly more crucial compared to the credit card or banking information. Moreover, the cases of cyberattacks have been increased due to the digital transformation of healthcare in the past few years. For example, the Department of Health and Health Service Executive (HSE) of Ireland suffered recent cyberattacks which was the human-operated ‘Conti’ ransomware attack that negatively hampered various HSE systems and mandated the closure of many of its other systems. Hence, these factors are expected to boost the growth of the healthcare cyber security market during the forecasting period.
Factors such as an increase in the number of cyberattacks and data breaches act as catalysts for the growth & demand for healthcare cyber security solutions in the market. In addition, a large number of healthcare institutions would adopt advanced cyber security solutions to safeguard their patients as well as their data from theft and malicious attacks. Moreover, the wide-scale installation of connected medical devices and digital medical record systems, and increasing utilization of laptops, smartphones, tablets, and other mobile devices would create lucrative growth opportunities for the healthcare cyber security market during the forecast period.
The rising disposable income of the customers in emerging nations like India and China has encouraged the people living in these countries to increase their healthcare spending by opting the better treatment options. As a result, they prefer highly modernized healthcare institutions where the chances of data breaches and other security concerns are the lowest. Moreover, these healthcare facilities are equipped with advanced technologies including cyber security solutions that would drive the growth of healthcare cyber security solutions in the regional market.
The supportive government initiatives across various nations are also contributing to the increased growth of the regional healthcare cyber security market. In addition, the rising technological advancements in the healthcare system of this region are opening lucrative opportunities for the key market players to enter and prosper in the region. Governments of many nations are putting more effort in making a strong healthcare system along with promoting the usage of advanced technologies among the customers would propel the growth of the regional market during the forecasting years.
The China market dominated the Asia Pacific DDoS Mitigation Healthcare Cyber Security Market by Country 2020, thereby, achieving a market value of $333.7 million by 2027. The Japan market is showcasing a CAGR of 18% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 19.4% during (2021 - 2027).
Based on Threat Type, the market is segmented into Malware, DDoS, Advanced Persistent Threat, Spyware, Lost or Stolen Devices and Others. Based on End Use, the market is segmented into Hospitals, Health Insurance, Pharma & Chemicals, Medical Devices and Other End uses. Based on Solution, the market is segmented into Antivirus and Antimalware, Intrusion Detection System/ Intrusion Prevention System, Security Information and Event Management, Identity and Access Management, Risk and Compliance Management, DDoS Mitigation and Other Solutions. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., FireEye, Inc., IBM Corporation, Kaspersky Lab, Lockheed Martin Corporation, Fortified Health Security, Palo Alto Networks, Inc., Sensato, and Symantec Corporation (Broadcom, Inc.).
Scope of the Study
Market Segments Covered in the Report:
By Threat Type
- Advanced Persistent Threat
- Lost or Stolen Devices
By End Use
- Health Insurance
- Pharma & Chemicals
- Medical Devices
- Other End uses
- Antivirus and Antimalware
- Intrusion Detection System/ Intrusion Prevention System
- Security Information and Event Management
- Identity and Access Management
- Risk and Compliance Management
- DDoS Mitigation
- Other Solutions
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Cisco Systems, Inc.
- FireEye, Inc.
- IBM Corporation
- Kaspersky Lab
- Lockheed Martin Corporation
- Fortified Health Security
- Palo Alto Networks, Inc.
- Symantec Corporation (Broadcom, Inc.)
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