International. The rising costs of data breaches and the increasing number of attacks on healthcare and other organizations are making cybersecurity a mission-critical technology for most industries, says analytics and data firm, GlobalData.
GlobalData's latest report, "Cybersecurity in Healthcare," shows that cybersecurity poses a significant risk to healthcare data. The healthcare industry remains a prime target for malicious cyber groups seeking to cause discord and make unethical profits.
With the increase in the number of attacks, the associated costs are also increasing, and the current shift of multiple industries to digitize workflows and promote remote work due to the COVID-19 pandemic is also helping cybersecurity emerge as a critical technology in the healthcare industry.
Rodrigo Noble, senior digital analyst at GlobalData, comments: "Prioritization and the associated growing demand for cybersecurity technology can only be good for the market, which is expected to reach US$237.7 billion by 2030 growing at a strong compound annual growth rate (CAGR) of 6.4% from 2019, when the market was worth US$120.3 billion. Prior to the onset of the pandemic, the healthcare industry was already undergoing a digital transformation, and the current shift of multiple industries to digitize workflows and promote remote work due to the COVID-19 pandemic has accelerated the cybersecurity timeline, helping cybersecurity emerge as a critical factor. technology in the healthcare industry".
Most 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 creates a medical Internet of Things (IoT) within healthcare networks. The growth of connectivity brings not only greater operational efficiency, 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 between 15 and 20 devices connected to the network. The challenge of keeping networks secure is compounded by legacy systems that lack basic cybersecurity measures, as well as medical devices that connect to networks without proper verification, which affect hospitals around the world.
"In terms of security, capabilities are fragmented and decentralized, leading to significant control challenges. Replacing legacy software across the enterprise can be cost prohibitive, especially considering the disruption this would cause in daily routines, but cyberattacks can have far-reaching reputational and often financial ramifications."
Source: Globaldata.
