According to FutureWise analysis the market for health IT security in 2023 is US$ 15.08 billion, and is expected to reach US$ 46.85 billion by 2031 at a CAGR of 15.22%.
Over the next few years, the health IT security market is expected to grow. The health IT security market is being required by a variety of organizations to protect against the cybercrime attacks that hospitals and other healthcare facilities are facing. As a result of the complicated infrastructure and a variety of different devices used by healthcare organizations, cybercriminals can gain access to the system and use it to harm the patients. As the number of breaches of highly secured healthcare data continues to rise, effective steps must be taken across the information technology systems of the healthcare sector.
Dealing with the crisis costs the healthcare sector a lot of money. As a result, healthcare services in various countries are spending a lot of sum to prevent the highly confidential information from cyber attacks. Increasing cases of healthcare breaches, stringency in regulations, growing usage of smartphones and devices are driving the Global Health IT Security Market. While the shortage of cyber-security professionals and dearth of investments is one of the potential restraints for the overall market. Factors such as a large number of healthcare data breaches, stringent regulatory requirements, growing use of mobile devices, investments by venture capital firms, and a growing number of interconnected medical devices may drive the market for Health IT security.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Health IT Security Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Health IT Security Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.