Report: The Market For U.S. Healthcare Cybersecurity Will Worth USD 8.70 Billion by 2023

Healthcare News

Repor_The-Market-For-U.S.-Healthcare-Cybersecurity-Will-Worth-USD-8.70-Billion-by-2023 Report: The Market For U.S. Healthcare Cybersecurity Will Worth USD 8.70 Billion by 2023As promising technologies like cloud services, Artificial Intelligence, and Internet of Things (IoT) are progressively utilizing today, it also encourages the points of vulnerability and compelling healthcare organization to implement new security systems into their business. Since companies adopt these new technologies, according to a recent report from Frost & Sullivan, the U.S. healthcare cybersecurity market will reach USD 8.70 billion through 2023. Apart from this, spending over health IT in the future is expected to increase across network perimeter protection, access management, endpoint protection, detecting and mitigating exploits, public-facing properties, and managed services.

Frost & Sullivan’s analysis illustrates insights into the market drivers and limitations that will form cybersecurity spending by healthcare IT over the next five years and the three big predictions for this market. The healthcare industry has a range of niche players that deliver specific cybersecurity solutions to address diverse healthcare security concerns. The report further noted that these kind of companies, including the larger ones, can accomplish further growth opportunities by implementing integrated security across the clinical workflow instead of a collection of point solutions; offering solutions that can scale to potentially thousands of devices and provide endpoint protection for mobile devices; establishing flexible approaches for the acquisition of cybersecurity suites; integrating capabilities that reduce intricacy and enhance productivity; allowing new forms of security management like location-based access and biometrics; and addressing the budget concerns of health IT by providing flexible pricing models.

According to Digital Health Research Manager Mike Jude, “The healthcare market is a prime target of hackers looking for protected health information (PHI). The lack of cybersecurity expertise is prompting healthcare IT organizations to seek managed support, which, in turn, is accelerating the move to cloud-based computing services.” He further said that to make optimum use of the opportunities, cybersecurity vendors need to develop solutions that integrate with existing healthcare IT systems and applications. The solutions must be able to accommodate and scale with new technologies such as IoT, cloud, and Big Data.