Cybersecurity threats impacting the pharmaceutical industry

Although, more than half of the organizations surveyed were hit by a cyberattack in the last year, a lack of visibility remains high, threat detection is problematic, false alarms cost time and money, according to a new research.

Uncomfortable truth #1: Over two-thirds of organizations were hit by a cyberattack in the last year.

More than a third are discovered on the server.

#2: IT teams lack visibility and spend lot of time spotting the attack.

Clearly 13 hours is a lot of time for a hacker to have uninterrupted access to your systems and data, and enough time to wreak significant damage, extract sensitive data, steal credentials, install Trojans, ransomware and more.

#3: IT teams can’t plug their security gaps because they don’t know what they are.

• One in five IT managers are unaware how their most significant cyber-attack entered their organizations.
• Larger organizations are more likely to know how threats got in than the smaller ones. They likely have more skilled resources and more comprehensive cybersecurity solutions than smaller companies do.

#4: Organizations lose 41 days each year investigating non-issues.

• Organizations spend, on average, four days a month investigating potential security issues, or 48 days a year.
• Only 15% turn out to be actual infections. As a result, 41 days are lost investigating non-issues.

#5: Four out of Five organizations are struggling with detection and response mostly due to a lack of security expertise.

IT Managers wish they had a stronger security team.

• 80% of all respondents
• 85% among those who have experienced cyberattack
• 71% among those who haven’t experienced once.

#6: Cyber victims learn the hard way.

More than half of organizations don’t see the value in investing in cybersecurity solutions. Most also think they don’t have digital assets that need that protection, only to realize that a cyberattack will impact all business operations, not just IT.

Organizations victimized by a cyberattack in the last year are more cautious and spend more time investigating potential incidents.

Recommendations:

Be Proactive.

• Unfortunately, 54% of organizations think cybersecurity investments are not important or not beneficial. This research finds that one cyberattack will take cybersecurity from business priority #n to priority #1.

Enhance Visibility.

• Organizations should start with an assumption that a threat will make its way through, be mindful of the limitations to their visibility into threats and their resulting inability to identify and block the gaps in their defenses.

Source: https://www.ascentinfosec.com/blog/customers-are-struggling-with-lack-of-visibility-and-threat-detection/

The report "Threat Intelligence Market by Application (SIEM, Security Analytics, Security and Vulnerability Management, Risk and Compliance Management, Incident Response), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025 ", is projected to grow from USD 10.9 billion in 2020 to USD 16.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period.

The increasing venture capital funding and growing investments in threat intelligence to drive market growthDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150715995By application, the security analytics segment to register the highest growth rate during the forecast periodThe security analytics segment is expected to register the highest growth rate during the forecast period.

Major factors driving the growth of the security analytics segment are the increasing demand to discover patterns in cybersecurity attacks across network infrastructure and the growing focus on maintaining regulatory compliance across verticals.

Due to the increasing network complexities and frequent changes in network infrastructure, the demand for security analytics solutions is increasing.

The security analytics segment is expected to witness huge growth opportunities in the next five years, as it helps organizations in the prior detection of cybersecurity instances.Based on vertical, the Information segment to grow at the highest CAGR during the forecast periodThe Information segment is expected to grow at the highest CAGR during the forecast period.

The information vertical includes IT solution and service providers, consulting companies, internet service providers, and communication companies.

Since long, standard threat intelligence solutions have been dependent on operators to identify & feed the sources from where intelligence could be gathered or monitored.

With the growing expanse of the internet, today sources have turned into a far more dynamic entity; with new sources getting activated each given moment & activities across existing sources going viral in no time.

It's a challenge to detect & respond to these innumerable inputs let alone go addressing them at the right time.Need of an hour was to devise a system which can autonomously gather ever expanding sources, track the intelligence insights on a continuous basis from the complete web sphere & point us towards prioritized frequency based actionable intelligence from open source, social media sphere & dark web.Shoghi understands the value of continuous research to address security concerns arising due to today's ever changing technology.

Latest of our innovation in threat intelligence addresses this exact concern of overwhelming alerts & false positives thus offering autonomously filtered actionable intelligence.

The machine learned scan grid provides a high ground visibility for a sensed threat.Early autonomous reconnaissance & patrolling of refined threats enables improved defiladed encirclement to contain threats with rapid dominance against disinformation or demoralizing propaganda with moral ascendancy.Our threat intelligence Capability fuses the most relevant content from the entire digital sphere to provide comprehensive, far-reaching, high-resolution insights on individual and group identity, affiliation, activities, trends, and behaviour patterns.

The menace to assets and disruptions to foil processes can be tackled with the help of preventive information that provide foresights.

The global threat intelligence market report by Market Research Future (MRFR) contains pertinent data on latest opportunities and hurdles coupled with growth engines which can power up the industry for the period of 2018 to 2023 (forecast period).

The unpredictability of the COVID-19 virus and its impact on the industry are explored in the report.Market ScopeThe global threat intelligence market size is expected to reach USD 11 billion by the end of 2023 at 19% CAGR during forecast period.

The rising cyber threats, adoption of crowd sourced intelligent stages, and adoption by organizations are prime factors driving market growth.

The spate of cyber breaches and exposure of confidential information is likely to lead to proactive solutions against online threats.Regional AnalysisRegionally, North America accounted for the largest market share from countries such as U.S. and Canada among others.

Recently, the state of Oklahoma Office of Management and Enterprise Services (OMES) has agreed to a partnership with Anomali, a threat intelligence firm to detect cyber threats and compromise on remote workers during the COVID-19 pandemic.However, Asia Pacific is expected to grow over the forecast period.