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Home > Pharmaceuticals >  Cybersecurity in Healthcare – Thematic Research

Cybersecurity in Healthcare – Thematic Research

The healthcare industry, including biopharmaceutical companies, healthcare providers, and payers, is targeted by malicious cyber threat actors due to the vast amount of valuable and sensitive data it holds. The biopharmaceutical industry is also vulnerable to attacks from activists, who protest against animal testing of drugs, high drug prices, and other ethical and political issues. As the healthcare industry becomes more digitized, it will provide cybercriminals with increased methods of stealing personal and proprietary data, including from medical health records and connected medical devices. For biopharmaceutical companies, the consequences of cyberattacks can be staggering, ranging from stolen IP, operational disruption to clinical trials and manufacturing, lost revenue through reduced drug sales, increased litigation risk, and reputation damage. The increasingly sophisticated tools at hackers’ disposal reinforces the need for comprehensive cybersecurity approaches involving people, processes, and technology that are relevant to detection, prediction, prevention, and rapid response.

Scope

Components of the report include:

· Key Industry Players: leading companies in the Cybersecurity space

Industry Trends: key trends impacting the Cybersecurity space classified into healthcare, technology, macroeconomic, and regulatory themes.

The Industry Analysis section includes:

Market size and growth forecast of the global security 2019-2030

Key M&A activity in 2019 and early 2020, with several vendors making acquisitions to enhance their offerings in areas such as zero trust networking, IoT, OT security, and endpoint protection.

Venture funding of cybersecurity companies

Impact of Cybersecurity on Healthcare Industry including a number of case studies that demonstrate how cybersecurity impacts the healthcare industry and how companies in the space are using cybersecurity for improved outcomes.

Value Chain: overview of the value chain made up of three main areas: the cyber-aware organization, the cybersecurity organizational stack, and the cybersecurity technology stack.

Reasons to Buy

Develop business strategies by understanding how cybersecurity will be used and shape the healthcare industry moving forward.

Stay up to date on the key players in the cybersecurity space and where they sit in the value chain.

See what activities healthcare companies are taking to secure their data

Identify emerging industry trends to gain a competitive advantage.

Identify opportunities for partnerships with cybersecurity and the healthcare industries

Companies Mentioned

IBM, Microsoft, Verizon, broadcom, cisco, fortified health security, sophos, DarkTrace, cleardata, medcrypt

Table of Contents

1 Cybersecurity in Healthcare 1

2 Table of Contents 4

2.1 List of Tables 7

2.2 List of Figures 7

3 Industry Players 8

4 Industry Trends 9

4.1 Technology Trends 9

4.2 Macroeconomic Trends 11

4.3 Regulatory Trends 12

4.4 Healthcare Trends 13

5 Industry Analysis 15

5.1 Third Wave of Cybersecurity 15

5.2 A Need for Vigilance and Resilience 16

5.3 Predictive Risk Assessments 16

5.4 Market Size and Growth Forecasts 16

5.5 Understanding the Malware Threat 17

5.5.1 Organizational Cost of an Insider Threat 18

5.5.2 Operational Technology and Critical National Infrastructure 19

5.5.3 The Need to Secure Remote Workers After the Onset of COVID-19 19

5.5.4 Cybercrime Is a Global Affair 20

5.6 Mergers and Acquisitions 20

5.7 Venture Funding for Cybersecurity Companies 22

5.8 Timeline 23

6 Impact of Cybersecurity on the Healthcare Industry 25

6.1 Cyberattacks Are Increasing Across the Healthcare Industry 26

6.1.1 Notable Recent Cyberattacks on the Healthcare Industry 26

6.2 Cost of Cyberattacks to Human Life 28

6.3 Healthcare Industry Continues to be Target for Ransomware Attacks 29

6.4 Denial of Service Is a Scary Prospect for Medical Devices 30

6.5 The Internet of Medical Things Is Vulnerable to Cyberattacks 31

6.5.1 Lack of Visibility on Connected Devices 31

6.5.2 Legacy Systems Continue to Pose High Risk 32

6.6 Healthcare Companies Lack Network Segmentation 33

6.7 Cybersecurity Is a Key Emerging Technology for the Biopharmaceutical Industry 33

6.8 COVID-19: Increased Risk of Cyberattacks Across the Healthcare Industry During the Pandemic 39

6.8.1 Hospitals and Other Healthcare Providers Have Been Targeted by Cyberattacks During the Pandemic 39

6.8.2 Biopharmaceutical Companies and Research Institutes Are Currently Major Targets of Cyberattacks 43

6.9 Healthcare Case Studies 44

6.9.1 Ransomware Attacks Targeting Big Companies: Garmin 44

6.9.2 Big Tech Companies and Data Privacy Concerns: Google Takes Control of DeepMind Health 45

6.9.3 Medical Device Partnerships 46

6.9.4 Ransomware is Fast Becoming a Dual-Threat: Fresenius 47

6.9.5 HealthStore, BridgeHead’s Solution to the Legacy System Nightmare 48

7 Value Chain 49

7.1 The Cyber-Aware Organization 50

7.2 The Cybersecurity Organizational Stack 51

7.3 The Cybersecurity Technology Stack 52

7.3.1 Incidence Response 52

7.3.2 Security Orchestration, Automation, and Response (SOAR) 52

7.3.3 Security Information and Event Management (SIEM) 53

7.3.4 Threat Management, Intelligence, and Hunting 54

7.3.5 Unified Threat Management 54

7.3.6 Behavioral Analytics 55

7.3.7 Cloud Security 56

7.3.8 Email Security 56

7.3.9 Network Security 57

7.3.10 Application Security 58

7.3.11 DevSecOps 58

7.3.12 Mobile Security 59

7.3.13 Endpoint Security Tools 60

7.3.14 IoT Security 60

7.3.15 Single Sign-On and Access Management 61

7.3.16 Adaptive Authentication and Authorization 61

7.3.17 Identity and Access Management 62

7.3.18 Vulnerability Management 62

7.3.19 Privileged Access Management 63

7.3.20 Data Loss Prevention 64

7.3.21 Managed Security Services 64

7.3.22 Post-Breach Response Services 65

8 Companies Section 66

8.1 Public Companies 66

8.2 Private Companies 68

8.3 Healthcare Companies 70

9 Technology Briefing 72

9.1.1 National Institute of Standards and Technology’s (NIST’s) Five Operational Functions 73

9.1.2 Putting It All Together 73

10 Glossary 75

10.1 Bibliography 75

10.2 Glossary 79

11 Appendix: Our “Thematic” research methodology 82

11.1 Traditional thematic research does a poor job of picking winners and losers 82

11.2 Introducing GlobalData’s thematic engine 82

11.3 This is how it works 82

11.4 How our research reports fit into our overall research methodology 83

11.5 About GlobalData 84

11.6 About the Authors 84

11.6.1 Senior Digital Healthcare Analysts 84

11.6.2 Senior Director, Market Research 84

11.6.3 Director, Thematic Analysis 84

11.6.4 Global Head and EVP of Healthcare Operations and Strategy 85

11.7 Contact us 86

11.8 Disclaimer 87

List of Tables

Table 1: Technology Trends 9

Table 2: Macroeconomic Trends 11

Table 3: Regulatory Trends 12

Table 4: Healthcare Trends 13

Table 5: Key M&A Transactions Associated with Cybersecurity 21

Table 6: Venture Rounds for Cybersecurity Companies since June 2019 23

Table 7: Key Milestones in the Global Cybersecurity Landscape 24

Table 8: Public Companies 66

Table 9: Private Companies 68

Table 10: Healthcare Companies 70

Table 11: Glossary 79

List of Figures

Figure 1: Key Players in the Cybersecurity Industry and Where They Sit in the Value Chain 8

Figure 2: Market Size and Growth Forecasts 17

Figure 3: Pharma Executives Expect Cybersecurity to Have a High Impact on the Industry in 2020 34

Figure 4: Importance of Emerging Technologies to Business over the Next Three Years 35

Figure 5: Current Pharma Investment in Emerging Technologies 35

Figure 6: Percentage of Firms Stating Impact of Emerging Technology 36

Figure 7: Change in Business Spend on Cybersecurity Over Time in the Pharmaceutical Industry 37

Figure 8: Expected Impact of Cybersecurity on Business Objectives Across the Pharmaceutical Industry 37

Figure 9: Business Readiness for the Impact of Cybersecurity on the Pharmaceutical Industry 38

Figure 10: Barriers to Adoption of Cybersecurity in the Pharmaceutical Industry 38

Figure 11: Value Chain 50

Figure 12: The Cyber-Aware Organization 51

Figure 13: Leaders and Challengers in Incident Response 52

Figure 14: Leaders and Challengers in SOAR 53

Figure 15: Leaders and Challengers in SIEM 54

Figure 16: Leaders and Challengers in Threat Management, Intelligence, and Hunting 54

Figure 17: Leaders and Challengers in Unified Threat Management 55

Figure 18: Leaders and Challengers in Behavioral Analytics 56

Figure 19: Leaders and Challengers in Cloud Security 56

Figure 20: Leaders and Challengers in Email Security 57

Figure 21: Leaders and Challengers in Network Security 58

Figure 22: Leaders and Challengers in Application Security 58

Figure 23: Leaders and Challengers in DevSecOps 59

Figure 24: Leaders and Challengers in Mobile Security 59

Figure 25: Leaders and Challengers in Endpoint Security Tools 60

Figure 26: Leaders and Challengers in IoT Security 60

Figure 27: Leaders and Challengers in Single Sign-On and Access Management 61

Figure 28: Leaders and Challengers in Adaptive Authentication and Authorization 62

Figure 29: Leaders and Challengers in Identity and Access Management 62

Figure 30: Leaders and Challengers in Vulnerability Management 63

Figure 31: Leaders and Challengers in Privileged Access Management 64

Figure 32: Leaders and Challengers in Data Loss Prevention 64

Figure 33: Leaders and Challengers in Managed Security Services 65

Figure 34: Leaders and Challengers in Post-Breach Response Services 66

Figure 35: CSPM Tools Enable Organizations to Identify and Remediate Cloud Security Risks 73

Figure 36: The Five Operational Functions in the NIST Cybersecurity Framework 73

Figure 37: The NIST Cybersecurity Framework Is Used Voluntarily by Many Verticals Around the World 74

Figure 38: Five-step Approach for Generating a Sector Scorecard 82

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