The healthcare industry remains a prime target for malicious cyber groups looking to cause discord and make unethical gains
The rising costs of data breaches and the growing number of attacks to healthcare and other organizations is turning cybersecurity into a mission-critical technology for most industries, according to GlobalData’s Cybersecurity in Healthcare report.
The report shows that cybersecurity presents a major risk to healthcare data. The healthcare industry remains a prime target for malicious cyber groups looking to cause discord and make unethical gains. With the number of attacks rising, the associated costs are also increasing, and the current multi-industry shift to digitize workflows and promote remote working due to the COVID-19 pandemic is also helping cybersecurity emerge as a critical technology across the healthcare industry.
Rodrigo Noble, Senior Digital Analyst at GlobalData, comments: “The prioritization of, and associated rising demand for, cybersecurity technology can only be good for the market, which is expected to reach USD 237.7bn by 2030 growing at a strong compound annual growth rate (CAGR) of 6.4% from 2019 – when the market was worth USD 120.3bn. Before the onset of the pandemic, the healthcare industry was already undergoing a digital transformation, and the current multi-industry shift to digitize workflows and promote remote working due to the COVID-19 pandemic has expedited the cybersecurity timeline, helping cybersecurity emerge as a critical technology across the healthcare industry.”
The majority of patient interactions within the healthcare system involve the use of medical equipment and devices, most of which are connected to a network. These connected devices generate, analyze and transmit medical-grade data, which create a medical Internet of Things (IoT) within healthcare networks. The growth of connectivity brings not only increased operational efficiencies, but also an ever-expanding attack surface for cyber terrorists.
Noble continues: “Connected devices are becoming a key part of healthcare infrastructure. The average hospital room has anywhere from 15 to 20 network-connected devices. The challenge of keeping networks safe is compounded by legacy systems that lack basic cybersecurity measures, as well as medical devices connecting to networks without proper vetting – both of which plague hospitals worldwide.
“In security terms, capabilities are fragmented and decentralized, generating substantial control challenges. Replacing legacy software across the enterprise can be cost-prohibitive, especially considering the disruption this would cause to daily routines, but cyberattacks can have far-reaching reputational and often financial ramifications.”