Cybersecurity emerging as a worldwide pain point in healthcare

The market size is expected to hit US$12b by 2027.

The global healthcare cybersecurity market is projected to hit US$12b by the year 2027. A latest report by Acumen Research has found that the market size will be growing at a compound annual rate of 16% through 2020-2027.

The report attributed this growth to recent incidents of malware threats, data breaches, and IP piracy. Other elements contributing to this growth are patent infringement, company information leakage, deception in medical ID, and loss of social security and patient health data. These incidents have resulted in increased financial expenditure for healthcare companies, forcing them to implement protective measures.

The report identified Asia Pacific to be the fastest growing region to fuel this growth due to its technical advancements and business expansion opportunities.