Increased frequency of cyber-crimes has driven the demand for cybersecurity in the healthcare sector. The healthcare organizations are adopting measures to secure their connected networks, servers and medical devices. The various cases of medical frauds such as theft of patient health records, medical identity fraud have further led to the increase in demand for healthcare cybersecurity.
The healthcare cybersecurity market is anticipated to record a CAGR of around 16% over the forecast period i.e. 2019-2027. The market is segmented by threat, by security, by solution, by end user and by region, out of which, the threat segment is further segmented into malware, ransomware, distributed denial-of-service [DDoS] and others. On the basis of threat, the ransomware segment is estimated to hold the largest share in the healthcare cybersecurity market on account of increased ransomware attacks by hackers resulting in data breaches.
Hackers prefer ransomware over other forms of threats as it allows encryption of important data belonging to hospitals and other healthcare companies. The unauthorized access that is provided by ransomware denies the patient data access to organizations. This is estimated to significantly raise the demand for security measures that would prevent such attacks, thereby increasing the market size for this segment.
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