The global health IT security market is witnessing considerable growth due to stringent regulatory requirements and interconnected medical devices. Since the usage of interconnected medical device is continuously increasing, health IT security would play a major role in the safety of health information assembled and imparted from various smart devices to patients and care givers. Moreover, increasing use of mobile device, due to greater adoption of bring-your-own device policy, is supporting the growth of the market. The adoption of health IT security across the globe is increasing, owing to increasing number of healthcare data breeches. The market for healthcare IT security services segment is expected to grow at the faster rate compared to healthcare IT security products market in the forecasted period, as the end users in this market would require continuous support in the form of service to protect their IT infrastructure from increased advanced cyber-attacks.
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The cloud security proposes new growth avenues of health IT security, and evolution of next generation IT security solution is expected to create opportunities for the market. In addition, massive unexplored market in developing economies are creating abundant opportunities for the health IT security market to grow at a significant rate in the coming years. However, limited cyber security professionals and limited spending on IT security are the key factors hampering the growth of the global market.
Information privacy and patient privacy are the major aspects of the well-functioning of healthcare environment. Cyber-attacks are increasing constantly around the globe. Hospital encounters major concern due to abundant cyber-attacks that impend the secrecy and safety of their data assets and enterprise IT systems. Healthcare organizations are expected to adhere various acts and regulations such as the Department of Defense Information Assurance Certification and Accreditation Process (DIACA), Health Insurance Portability and Accountability Act (HIPPA), and Payment Card Industry Data Security Standard (PCI-DSS). In addition, healthcare organizations are required to deploy advanced security solutions to address customer demand, to protect high value data and increase stringent regulatory requirements.
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The key players operating in the global market are IBM Corporation, Symantec Corporation, Trend Micro Incorporated, Oracle Corporation, EMC Corporation, SailPoint Technologies, Dell Inc., Hewlett Packard, AT&T, and Intel Corporation.