1. Why are Healthcare companies investing in cybersecurity?

Healthcare companies are investing in cybersecurity to protect sensitive data and critical services from cyberattacks. The healthcare industry deals with proprietary scientific data, intellectual property, and patient data, making it vulnerable to cyber threats. Cybersecurity investment helps companies to prevent operational disruptions, maintain customer trust, and comply with regulatory requirements.

2. How do cyberattacks impact the Healthcare industry?

Cyberattacks can have severe consequences for the healthcare industry. They can render systems unusable, damage reputation, and lead to legal penalties. Healthcare companies are particularly vulnerable to cyberattacks due to the sensitive nature of the data they handle. Breaches in healthcare and pharma cost more than those in almost any other industry.

3. Which Healthcare companies are leaders in cybersecurity adoption?

Some of the leading adopters of cybersecurity in the healthcare industry include Pfizer, Novartis, Abbott, and Battelle. These companies have established comprehensive cybersecurity measures and have invested in product cybersecurity multifunctional groups, cybersecurity medical advisory boards, and relationships with third-party cybersecurity specialists.

4. Who are the leading vendors of cybersecurity to the Healthcare industry?

The leading vendors of cybersecurity to the healthcare industry include Arm, Intel, Apple, Samsung Electronics, Synopsys, Broadcom, One Identity, Apple Last Pass, Megvii, Zscaler, Cisco, Netskope, Fortinet, CrowdStrike, VMware, Microsoft, Splunk, Exabeam, Trend Micro, Palo Alto Networks, Sentinel One, Proofpoint, Check Point Software, IBM, Mimecast, Barracuda, Veracode, Micro Focus, Sophos, WatchGuard, Atos, Imprivata, and Hashed Health.

5. How does increased investment in cybersecurity benefit Healthcare companies?

Increased investment in cybersecurity helps healthcare companies to prevent cyberattacks, protect sensitive data, and maintain customer trust. It also helps companies to comply with regulatory requirements and avoid legal penalties. Cybersecurity investment can also improve operational efficiency and reduce the cost of suffered breaches.

6. What are the challenges with adoption of cybersecurity in Healthcare?

The challenges with adoption of cybersecurity in healthcare include the high cost of implementation, lack of in-house expertise, and the complexity of the healthcare ecosystem. Healthcare companies must cover all components of the cybersecurity value chain, including chips, identity procedures, networks, endpoints, cloud presence, data, email, and applications. Appropriate vulnerability management, threat detection, and threat response must be established.

7. What is the projected market size of cybersecurity in Healthcare?

Between 2020 and 2025, GlobalData predicts cybersecurity spending by healthcare providers and payors is forecast to grow at a compound annual growth rate (CAGR) of 8.1%. In the same period, cybersecurity spending by pharma will grow at a slightly lower rate, 7.4%. Medical device spending will grow at a rate of 7.3%.

8. Who are the leading specialist cybersecurity vendors in Healthcare?

The leading specialist cybersecurity vendors in healthcare include IBM, NTT Data, KPMG, Cisco, Verizon, BAE Systems, Secureworks, PwC, AT&T, Accenture, CrowdStrike, Sophos, Thales, China Telecom, China Unicom, Infosys, Tata Consultancy Services, DXC Technology, Telstra, Herjavec Group, and Trellix.

9. What are the components of the cybersecurity value chain?

GlobalData’s cybersecurity value chain consists of three main areas: hardware, software, and services.

Sophia Devi, Author at Hospital Management

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