LAMEA 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 Latin America, Middle East and Africa Healthcare Cyber Security Market would witness market growth of 20% CAGR during the forecast period (2021-2027).
Factors such as the surge in the number of cyberattacks, increasing privacy & security concerns, and increased adoption rate of modern cyber security solutions are acting as growth catalysts for the overall healthcare cyber security market during the forecasting period. Additionally, the growth of the market would witness new growth avenues due to the factors like rising deployment of cloud-based solutions in the healthcare industry, the growing adoption rate of connected devices & smartphones, and acceptance of 5G technology.
The increase in requirement of network security is mandating the demand for advanced IT security among healthcare institutions which would propel the demand & growth for healthcare cyber security solutions in the market. Access control and distributed denial-of-service (DDoS) mitigation are a few of the extremely advanced kinds of network security solutions that offer a high level of protection. Due to the increase in awareness about these solutions, the end-users are expected to increase their spending on such solutions.
The cases of malicious attackers penetrating the healthcare system are constantly increasing in this region that would fuel the growth & demand for advanced healthcare cyber security solutions in the region. Moreover, the region is conducive for growth due to the lesser number of market players and untapped potential. Considering this scenario, many global players are capitalizing on this opportunity and leveraging the potential of the regional market. In addition, these players are introducing cost-effective yet advanced cybersecurity solutions for healthcare institutions, which would boost the growth of the regional healthcare cyber security market during the forecasting period.
In addition, the patient’s healthcare data is extremely crucial and if compromised, it can lead to severe disruptions for both patients as well as a healthcare provider. Therefore, many healthcare vendors are realizing the importance of healthcare cyber security solutions which would boost the adoption rate of the healthcare cyber security market in the regional market. Hence, these factors would open new growth avenues for the regional healthcare cyber security market during the forecast period.
The Hospitals market dominated the South Africa Healthcare Cyber Security Market by End Use 2020, thereby, achieving a market value of $167 million by 2027. The Other End users market is expected to witness highest CAGR of 21.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Saudi Arabia
- South Africa
- Rest of LAMEA
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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