The healthcare cybersecurity market size is set to exceed $27 billion by 2025, according to a new research report by Global Market Insights, Inc. Increasing incidences of healthcare data leaks are slated to boost the healthcare cybersecurity industry growth during the analysis period, researchers say.

According to Global Market Insights, the ransomware segment held around 22% revenue share in 2018. In fact, the Institute for Critical Infrastructure Technology mentioned 2016 as “ransomware year.” due to highest crimes caused by ransomwares. As a result, 89% of healthcare organizations are installing anti-virus solutions to protect healthcare data.

Further, the network security segment is anticipated to foresee more than 19% growth over forthcoming years. Due to the emergence of healthcare IT, medical data is easily accessible over large networks that has facilitated the treatment process. However, rising connectivity of computer networks has exposed medical data to vulnerability. And greater incidences of data fraud in hospitals and other healthcare facilities due to network jamming boosts segmental growth.

Moreover, the cloud-based segment is expected to show 20% growth during the forecast period. After all, data security in healthcare organizations is at an all-time high. Recently developed cloud-based computing security solutions will enable healthcare organizations to keep data synchronized and secured, Global Market Insights officials say, thus increasing demand for cloud-based solutions.

From a regional perspective, the North American healthcare cybersecurity market reigned supreme, holding roughly 37% revenue share in 2018. Market researchers say North America’s position is attributable to increasing threats to healthcare data in the region.