The Internet of Medical Things (IoMT) has transformed the healthcare industry by connecting medical devices in monitoring treatment outcomes of patients. This increased connectivity has resulted to significant security vulnerabilities in the case of malware and Distributed Denial of Service (DDoS) attacks. This literature review examines the vulnerabilities of IoMT devices, focusing on critical threats and exploring mitigation strategies. We conducted a comprehensive search across leading databases such as ACM Digital Library, IEEE Xplore, and Elsevier to analyze peer-reviewed studies published within the last five years (from 2019 to 2024). The review shows that inadequate encryption protocols, weak authentication methods, and irregular firmware updates are the main causes of risks associated with IoMT devices. We have identified emerging solutions like machine learning algorithms, blockchain technology, and edge computing as promising approaches to enhance IoMT security. This review emphasizes the pressing need to develop lightweight security measures and standardized protocols to protect patient data and ensure the integrity of healthcare services.