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Global health IT security market thriving at 15% CAGR

Medical Market Research

The Health IT security market size, in terms of value, is expected to reach USD 9,867.5 million by 2020 from USD 4,905.9 million in 2015, at a CAGR of 15.0%. This market is categorized on the basis of products and services, applications, delivery mode, end users, and region.

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Health IT security market is highly fragmented. Some of the key players in this market includes IBM Corporation (U.S.), Intel Corporation (U.S.), Symantec Corporation (U.S.), EMC Corporation (U.S.), Trend Micro (Japan), Oracle Corporation (U.S.), SailPoint Technologies (U.S.), Hewlett Packard (U.S.), Dell, Inc.

(U.S.), CA Technologies (U.S.), PricewaterhouseCoopers (PwC) (U.S.), Verizon (U.S.), AT&T (U.S.), Wipro (India), Okta, Inc. (U.S.), CyberArk (U.S.), and CenturyLink (Savvis) (U.S.).

The evolution of next-generation IT security solutions and emergence of cloud computing are expected to offer growth opportunities for the market players. Health IT security Market is segmented on the basis of products and services, applications, delivery mode, end user, and region.

Health IT security products market is segmented into antivirus and antimalware, identity and access management solutions, encryption and data loss protection (DLP) solutions, risk and compliance management solutions, firewalls and unified threat management (UTM) solutions, intrusion detection/intrusion prevention systems (IPS), and others (security and vulnerability management, disaster recovery, security information and event management (SIEM), and distributed denial of services (DDoS) mitigation). The sservices market is segmented into consulting services, managed security services, and others (implementation, on-going IT support, training, maintenance, and up gradation services)

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In the U.S. alone, data breaches are costing the healthcare industry an estimated USD 6 Billion, annually, with the average cost of a data breach greater than USD 2 Million, annually. In 2014 alone, 164 incidents of breaches of patient health information (PHI) were reported to the Office of Civil Rights (OCR), an increase of 25% over 2013.

Factors such as large number of healthcare data breaches, stringent regulatory requirements, growing use of mobile devices, investment by venture capital firms, and growing number of interconnected medical devices are expected to drive market for Health IT security solutions.

Scope of the Report

This report categorizes the Health IT security market into the following segments:

Health IT security Market, by Products and Services

  • Products
  1. Antivirus and Antimalware
  2. Identity and Access Management Solutions
  3. Encryption and Data Loss Protection (DLP) Solutions
  4. Risk and Compliance Management Solutions
  5. Firewalls and Unified Threat Management (UTM) Solutions
  6. Intrusion Detection/Intrusion Prevention Systems (IPS)
  7. Others (security and vulnerability management, disaster recovery, security information and event management (SIEM), and distributed denial of services (DDoS) mitigation)
  • Services
  1. Consulting
  2. Managed Security Services
  3. Others (implementation, on-going IT support, training, maintenance, and up gradation services)

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