2023 vs. 2024-2025: Key Shifts in Medical Device Security Trends

As cybersecurity threats grow and regulations tighten, medical device manufacturers face shifting priorities that reshape their approach to security each year. From accelerated product timelines to strategic budget adjustments, the 2024 Medical Device Security Survey offers a clear view of how MDMs’ priorities have shifted compared to 2023. This blog provides a side-by-side comparison of key findings, helping companies align their strategies with emerging industry trends. By understanding these changes, manufacturers can better navigate the challenges of today’s security landscape.

One of the most striking changes from 2023 to 2024 is the shift in how companies prioritize time-to-market relative to security. Last year, only 14% of companies said that bringing products to market quickly was more important than ensuring security. In 2024, this percentage has skyrocketed, with 93% of companies now placing speed above security. This shift underscores the growing pressure on manufacturers to accelerate product development, often at the expense of thorough security measures.

Several factors contribute to this changing priority. Economic pressures, particularly in the wake of global challenges, have driven companies to focus on capturing market share quickly to maintain profitability. In a competitive landscape, time-to-market has become a key differentiator, especially for larger, established organizations looking to maintain their position.

The need to stay ahead of competitors has intensified the emphasis on rapid innovation. In regions outside the United States, where regulatory timelines are often more flexible, companies may feel more comfortable accelerating product launches, knowing they have some leeway for post-market updates and compliance adjustments. However, this drive for speed carries inherent risks.

Prioritizing time-to-market over security introduces vulnerabilities that could compromise patient safety, data privacy, and overall device functionality. When security is minimized, devices become more susceptible to tampering and cyberattacks. For medical devices, which play a critical role in patient health, even minor security lapses can have significant consequences. Companies may face recalls, reputational damage, and regulatory penalties if devices lack adequate security protections.

To mitigate the risks associated with a faster time-to-market, many companies are integrating security into agile development cycles. Strategies like “shift-left” security, which emphasizes embedding security protocols early in the design phase, are helping manufacturers identify and address vulnerabilities before launch. This is done by incorporating new methods such as Dynamic TARA and Adaptive Risk Management. Automated testing and continuous vulnerability scanning are also proving valuable, enabling companies to assess security throughout the development lifecycle. These proactive approaches allow manufacturers to maintain speed while minimizing security gaps.

Security budgets have also seen notable changes over the past year. While more companies are increasing their security budgets in 2024, these increases are more measured. In 2023, 49% of companies reported budget increases, with an average growth of 17%. In 2024, 70% of companies report increases, but the average growth rate has dropped to 10.8%.

This shift indicates a growing focus on efficiency and strategic spending. Rather than expanding budgets broadly, companies are now prioritizing specific investments that offer the most significant impact. Automation, advanced asset management, and vulnerability monitoring are top areas where companies are channeling resources to maximize security without overspending.

The slowdown in budget growth also reflects a maturity in how companies approach security spending. In 2023, budget increases were aimed at building up foundational security capabilities. By 2024, many companies have established these basics and are now focusing on refining and optimizing their security practices. This transition to smarter, more targeted investments suggests a move toward long-term resilience over short-term spending.

More mature organizations, particularly those with well-developed security frameworks, are directing budgets toward fine-tuning and expanding their most effective practices. This includes investments in automation, which reduces manual workload and improves efficiency, and continuous monitoring, which provides real-time visibility into security risks. In contrast, less mature organizations are focusing on building up foundational security measures like SBOM management and compliance validation. These foundational investments help newer companies establish a solid baseline, setting the stage for more advanced security initiatives in the future.

Another key trend in 2024 is the shift in organizational ownership of medical device security. In 2023, 28% of companies reported that the Chief Product Security Officer (CPSO) led security efforts. However, the role of the CPSO has since decreased to 22%, with Chief Information Security Officers (CISOs) and Chief Information Officers (CIOs) gaining more influence. The CISO now leads security in 22% of companies, while the CIO has a growing role, at 17%.

This decentralization reflects a broader organizational strategy to make security a shared responsibility across departments. By involving CISOs and CIOs, companies can draw on a wider range of expertise and resources. The CISO’s role, for instance, brings a strong focus on information security, while the CIO often oversees IT infrastructure, making them well-suited to address cybersecurity risks that intersect with technology operations.

Decentralizing security ownership can also improve responsiveness and agility. When multiple leaders share responsibility, security initiatives can be integrated more easily across various functions, from R&D to IT. This integration helps ensure that security protocols are consistently applied, even as products move through different development stages.

However, decentralization also presents challenges. Without clear coordination, decentralized security efforts can lead to fragmented strategies and inconsistent priorities across departments. To address these issues, many companies are implementing centralized frameworks that facilitate communication and maintain alignment. Standardizing data is a critical part of this approach—ensuring that all teams are looking at risk, findings, and asset data in the same way and using a common language. This uniformity helps prevent misunderstandings, enables effective decision-making, and ensures that security measures remain cohesive across the organization. Regular cross-departmental meetings and standardized protocols further reinforce alignment, making decentralized efforts more coordinated and impactful.

The 2024 trends reflect a more pragmatic approach to medical device security. As companies adjust to economic pressures and competitive demands, they are finding new ways to balance speed, efficiency, and robust security practices. The shift toward faster time-to-market, smarter budget allocation, and decentralized ownership indicates a maturing industry that is adapting to both technological and regulatory challenges.

By adopting agile security strategies, investing in targeted solutions, and fostering collaboration across departments, MDMs can achieve a balanced approach that meets the demands of today’s complex security landscape. For a deeper understanding of these shifts, download the full 2024 Medical Device Security Report and equip your organization with the insights needed to navigate these evolving trends.