Healthcare Cybersecurity Market to Reach USD 17.24 Billion by 2029 with a 13.2% CAGR According to Valuates Reports

A new report by Valuates Reports has forecasted that the healthcare cybersecurity market is expected to reach USD 17,240 million by 2029, with a CAGR of 13.2% during the forecast period of 2023-2029. The report specifies that due to the high number of cyberattacks in the healthcare sector, resulting in the exposure of important patient data, there is an increased demand for cybersecurity solutions. Furthermore, the report points out that regulatory requirements, the surge in 5G technology adoption, and the use of connected devices and cloud-based solutions in the healthcare industry will all contribute to the market’s growth during the projection period. The industry experts believe that the US and Canada are expected to be the largest market during the forecast period due to their strong economies and adherence to data compliance rules. In response to this ever-growing number of healthcare cyber incidents, governments and regulatory agencies have introduced strict laws and compliance requirements to protect consumer privacy, which has resulted in a growing need for cutting-edge cybersecurity solutions in healthcare.