Medtronic data privacy lawsuit may lead to heightened scrutiny of medical devices industry, says GlobalData
| For immediate release: 20 September 2023
In a development that has sent shockwaves through the healthcare industry, Medtronic, a renowned medical device manufacturer, finds itself embroiled in a legal battle over allegations of sharing a ‘treasure trove’ of diabetes patient data with tech giant Google. The lawsuit, which was filed in July 2023 by concerned patients and privacy advocates, accuses Medtronic of breaching patient confidentiality and may lead to heightened scrutiny of the medical field, says GlobalData, a leading data and analytics company. One of the impacts of the global spread of COVID-19 is healthcare firms’ increasing dependence on emerging technologies and ramping up their data collection efforts. While the incorporation of new technologies undeniably offers substantial benefits to the healthcare sector, such as enhancing patient care, streamlining operational processes, and easing hospital congestion, it has concurrently led to a gradual rise in cybersecurity vulnerabilities within the industry. Kamilla Kan, Medical Analyst at GlobalData, comments: “The potential consequences for the medical device market are significant. On one hand, collaborations with tech giants can lead to ground-breaking advancements in healthcare technology. These partnerships have the potential to yield life-saving innovations and improved patient outcomes. However, as this lawsuit illustrates, they can also raise concerns about data security and patient privacy. The implications will affect patient privacy and jeopardize the public’s opinion on integrating new technologies into the healthcare industry.” According to a GlobalData poll in Q2 2023*, 41% of participants already expect cybersecurity to be a significant disruptor to the healthcare industry. Kan concludes: “In the wake of this controversy, the medical device industry may face heightened scrutiny and regulatory changes. Stricter data privacy regulations could be enacted to protect patients from potential breaches. Medical device companies will need to establish clear guidelines for data sharing and ensure rigorous consent procedures to maintain the trust of patients and avoid legal entanglements.” *GlobalData poll in Q2 2023 consisted of 363 respondents About GlobalData 4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors. For more information To gain access to our latest press releases: GlobalData Media Centre GlobalData Press Office: pr@globaldata.com |
