The healthcare industry must prioritise investments in cybersecurity to address the escalating threats to medical devices, interconnected systems, and overall infrastructure. With an increasing reliance on advanced technologies, and as cyber threats grow more sophisticated and frequent, the need for comprehensive security measures has become more pressing. GlobalData’s recent report, ‘Cybersecurity in Healthcare – Thematic Intelligence‘, forecasts that there will be a significant increase in the amount of investment in cybersecurity, growing by 12.9% annually from $631.2m in 2022 to $1.2bn in 2027, driven by the rising number of cyberattacks targeting healthcare devices.
Healthcare systems are composed of extensive networks of connected devices and can include legacy systems missing up-to-date security protocols and personal medical devices linked to health networks. Additionally, in the event of a cyberattack, there is an immediate need to restore compromised systems to ensure patient safety and operational continuity. These factors and the uniquely high value of personal medical data make healthcare systems attractive targets for cybercriminals.
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By GlobalDataThe impact of data breaches in the healthcare industry continues to grow. Reports from the US Department of Health and Human Services have indicated a two-fold increase in the number of individuals affected by data breaches from 2022 to 2023, and a further 15% increase in H1 2024 compared to H1 2023. This alarming trend highlights the urgent need for healthcare providers to strengthen their cybersecurity protocols to protect sensitive patient data and maintain trust. The consequences of data breaches extend beyond data loss to include reputational harm and legal repercussions. Regulations such as the US’s Health Insurance Portability and Accountability Act (HIPAA) and the EU’s General Data Protection Regulation (GDPR) have stringent penalties for data exposure, helping to emphasise the need for robust cybersecurity protocols.
The shift towards interconnected systems and the Internet of Things (IoT) in healthcare further amplifies the need for advanced cybersecurity. GlobalData projects that by 2025, 68% of medical devices will be connected to a network. While this increased connectivity will improve efficiency and patient care, it will also expand the risk landscape. A single vulnerability can provide multiple entry points for cybercriminals, potentially leading to widespread disruptions across healthcare systems. An illustrative example of this fragility is the recent incident involving CrowdStrike, where a faulty software update from the cybersecurity firm led to widespread information technology (IT) crashes globally across multiple industries, including healthcare. This disruption affected patient treatments, access to electronic health records, data flow between diagnostic systems, and even emergency response teams. Although this was not a cyberattack, it emphasises how a single point of failure can cause a large-scale disruption in an interconnected environment.
The healthcare sector must prioritise cybersecurity investments to address the escalating threats to medical devices, interconnected systems, and the broader healthcare infrastructure. The healthcare industry’s reliance on digital technology, coupled with the high value of patient data, makes these systems particularly vulnerable. By adopting comprehensive security strategies, healthcare organisations can protect patient well-being, ensure uninterrupted care, and minimise the impact of potential cyberattacks.
