Asia Pacific Healthcare Cybersecurity Market

Asia Pacific Healthcare Cybersecurity Market Size (2024 to 2032)

The size of the Asia Pacific healthcare cybersecurity market was valued at USD 3,955 million in 2023. This market is expected to grow at a CAGR of 21.6% from 2024 to 2032 and be worth USD 22,991 million by 2032 from USD 4,809 million in 2024. 

MARKET SCENARIO

Cybersecurity has seen tremendous growth with the Internet, social media, and mobile users in the region. The intensification of these attacks is likely to accelerate the growth of the healthcare cybersecurity market in the Asia-Pacific. In 2016, about 80 million USD was stolen from a bank in Bangladesh by a cyberattack. In the same year, it was reported that the Philippine government places were frequently hacked. The growing number of such incidents pushes the demand for cybersecurity in the Asia Pacific region. More than 75% of the Asian population has no education about cybersecurity. Lack of awareness and lack of appropriate infrastructure in at least networked countries such as Myanmar and Cambodia are driving the growth of the cybersecurity market in the Asia Pacific region.

The growing cyber risk in healthcare and the need to reduce cyber threats are significant factors propelling the demand of the market in the Asia-Pacific region. The adoption of cyber-security solutions is anticipated to grow with growing perforation of the internet among developed and developing countries is expected to boost the Asia Pacific market.

Increasing digital transformation and connectivity in the Asia Pacific area is threatening cyber threats. Besides, the government initiative towards cyber laws and data security is the key factor driving the growth of the market. As the frequency of sophisticated attacks on the company increases, the cybersecurity market is expected to gain traction in the next five years. With the exponential growth and complexity of cyberattacks over the past several years, strict compliance and security packages are demanding to protect the confidential data in the hospitals and other institutes. 

However, lack of education and awareness on cybersecurity is hindering the growth of the cybersecurity market in the region. Therefore, stringent government actions taken to enforce regulatory compliance around the world are pushing organizations to implement cybersecurity solutions for data privacy.

SEGMENTAL ANALYSIS

Asia Pacific Healthcare Cybersecurity Market Analysis By Type

• Ransomware 
• Malware and spyware
• Distributed Denial of Services (DDoS)
• Phishing and spear-phishing

Asia Pacific Healthcare Cybersecurity Market Analysis By Security Type

• Application Security
• Cloud Security
• Content Security
• Endpoint Security
• Network Security
• Wireless Security
• Others

Asia Pacific Healthcare Cybersecurity Market Analysis By End-Users

• Pharmaceutical Industries
• Biotechnology Industries
• Hospitals
• Medical Devices Companies
• Health Insurance Companies
• Others

GEOGRAPHICAL ANALYSIS

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of Asia Pacific

Developing countries like India, China and Japan in the Asia Pacific region produce large amounts of patient data each year. Chinese healthcare cybersecurity market is presently leading the Asia Pacific market. Rising demand to protect data integrity, healthcare professionals have begun to adopt upgraded cybersecurity software that enhances regional market growth. The Department of Defense Information Assurance Certification and Accreditation Process (DICA), the Health Insurance Portability and Accountability Act (HIPPA) and the Payment Card Industry Data Security Standard (PCI-DSS) provide essential guidelines to the companies which helps them to have data security. The stringent policies of the development of cybersecurity solutions are inspiring the increase of the cybersecurity business in the region.

Japan is a lucrative region in the Asia pacific market and it has commanded uniform principles towards government organizations to control and manage illegal access and activity. Government has taken proposals and increasing awareness steps in people in enhancing the cyber rate of the country. Quick development in the technology, existence of huge opportunities for the enhancement of the market is projected to escalate the market during the review period.

The Indian and Chinese markets are expected to showcase a healthy rate during the forecast period.

KEY MARKET PLAYERS

Noteworthy companies dominating the Asia pacific healthcare cybersecurity market profiled in this report are McAfee, LLC, FireEye, Atos SE, Palo Alto Networks, Inc., Cisco Systems, Inc., Fortified Health Security, Lockheed Martin Corporation, Palo Alto Networks, Inc., Booz Allen Hamilton, Inc. and IBM Corporation.