The health IT security market is experiencing remarkable growth, driven by the pressing need for robust solutions that protect patient privacy, secure data integrity, and ensure the uninterrupted delivery of critical healthcare services.
By Saloni Walimbe, Assistant Manager-Content, Global Market Insights Inc.
As the healthcare industry continues to embrace digitization and the adoption of advanced technologies, the importance of Health Information Technology (Health IT) security has become paramount. The digitization of sensitive patient data, electronic health records (EHRs), and the interconnectedness of healthcare systems expose the industry to a myriad of cybersecurity threats.
The healthcare sector is a prime target for cybercriminals due to its vast amounts of sensitive patient data and potential financial gains. The incidence of cyber-attacks targeting US hospitals and health systems increased by over two-fold between 2016 and 2021, as per reports from the Journal of the American Medical Association. Ransomware attacks, data breaches, and identity theft are just a few of the concerning threats facing healthcare organizations.
For instance, between February 26 and March 7, 2023, Managed Care of North America (MCNA) experienced a significant breach of healthcare data. During this period, malicious code infiltrated their systems. Subsequent inquiry uncovered that an unauthorized entity had penetrated specific systems and extracted copies of personal data. This attack impacted roughly 8.9 million individuals, including patients, parents, guardians, and guarantors. Incidents such as these have highlighted the urgent need for robust healthcare cybersecurity solutions.
Governments around the world have also tightened regulations concerning patient data protection and privacy. HIPAA (Health Insurance Portability and Accountability Act) in the United States and GDPR (General Data Protection Regulation) in the European Union are two examples of stringent compliance frameworks that healthcare organizations are required to adhere to. Such policies will create a favorable growth environment for the health IT market, which is poised to exhibit over 18.2% CAGR through 2023-2032, according to a research report from Global Market Insights Inc.
3 Key Players Pioneering Change in the Healthcare IT Security Industry
In response to the growing demand for robust healthcare IT security, numerous companies have emerged as major players in the market. These organizations offer innovative solutions designed to address the industry’s unique security challenges. Enlisted below are 3 key players and their contributions to health IT security industry development:
GE Healthcare – Skeye Cybersecurity Service
With the proliferation of interconnected devices, the potential for cybersecurity risks grows, and these security incidents can have a profound impact on an organization’s efficiency, financial stability, quality of healthcare, and reputation. GE Healthcare is committed to mitigating these risks by furnishing customers with a comprehensive evaluation of the security of their medical devices. This assessment aids in the identification of vulnerabilities, offers recommended action plans, provides guidance for remediation, and outlines strategies for execution. This process promotes collaborative efforts involving customers’ clinical engineering, IT, and security teams.
In February 2020, in Chicago, GE Healthcare unveiled a novel service designed to assist hospital groups in their battle against cybersecurity threats. The innovative solution, named Skeye, was designed to harness the expertise of medical device specialists, artificial intelligence, and process management tools. By leveraging a remote security operations center (SOC), Skeye could enhance hospitals’ existing capabilities and resources, enabling proactive monitoring and empowering them to swiftly detect, analyze, and respond to cybersecurity threats and incidents in real-time.
Imprivata – Digital Identity Maturity Model & Assessment for Healthcare IT Security
Given the immense value of sensitive patient records and the potentially life-threatening consequences for patient care, healthcare organizations have become prime targets for malicious actors. Many healthcare delivery organizations (HDOs) have identified a lack of thorough assessment of cybersecurity risks as the most significant obstacle to establishing a robust security stance.
Imprivata is dedicated to transforming this landscape by assisting organizations in prioritizing strategies that revolve around securing the user’s digital identity and credentials, moving away from the conventional emphasis on network perimeters.
In April 2023, Imprivata introduced the Imprivata Digital Identity Maturity Model and Digital Identity Maturity Assessment. These pioneering tools are designed to elevate the input of clinicians and end-users in shaping the decision-making process concerning a healthcare organization’s digital identity strategy. Integrating the clinician’s perspective into a digital identity strategy assessment will result in more valuable, efficient, and successful implementations. This, in turn, enhances the collaboration between clinicians and IT teams, ultimately leading to improved outcomes.
Palo Alto Networks – Medical IoT Security
Digital devices are extensively utilized in the healthcare sector, particularly for diagnostics and monitoring, encompassing equipment in ambulances and surgical robots. However, research from Unit 42, Palo Alto Networks’ division specializing in threat intelligence and consulting, reveals that nearly 98% of all medical IoT device traffic lacks encryption. Furthermore, 57% of IoT devices face susceptibility to medium or high-severity attacks. This concerning data underscores the allure of security device targeting for cyber attackers, potentially jeopardizing patient data and ultimately putting patient well-being at risk.
In response, Palo Alto Networks announced enhanced features and capabilities in December 2022, tailored to safeguard medical Internet-of-Things (IoT) devices from cyber threats. This initiative takes the form of “Medical IoT Security,” a comprehensive Zero Trust security solution specifically designed for the digital healthcare landscape.
Palo Alto Networks’ novel Medical IoT Security solution harnesses the power of machine learning to facilitate swift and secure deployment and management of emerging connected technologies within organizations. This solution integrates with existing healthcare information management systems such as AIMS and Epic Systems, streamlining workflows through automation. Users can devise device rules equipped with automated security responses, enabling functions like anomaly monitoring and triggering appropriate countermeasures.
The health IT security market is witnessing remarkable growth, fueled by escalating cybersecurity threats, regulatory compliance pressures, and advancements in healthcare technologies. Key players in the market are delivering innovative solutions to address these challenges, ranging from comprehensive network security to enhanced identity and access management. As the industry continues to evolve, future trends such as AI-driven threat detection and cloud security will play pivotal roles in shaping the future of the healthcare cybersecurity landscape.
About the Author
Saloni Walimbe. An avid reader since childhood, Saloni Walimbe is currently following her passion for content creation by penning down insightful articles relating to global industry trends, business news and market research. With an MBA-Marketing qualification under her belt, she has spent two years as a content writer in the advertising field, before making a switch to the market research domain. Aside from her professional work, she is an ardent animal lover and enjoys movies, music, and books in her spare time.
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