Global Healthcare Data Storage Market – Industry Trends and Forecast to 2029

Global Healthcare Data Storage Market, By Deployment (On-Premise, Remote, Hybrid), Architecture (Object Storage, File Storage, Block Storage), Type (Magnetic Storage, Flash and Solid-State Storage), Storage System (Direct-Attached Storage, Network-Attached Storage, Storage Area Network), End-Use (Pharmaceutical and Biotechnology Companies, CROs, and CMOS, Research Centers, Academic and Government Institutes, and Clinical Research Labs, Hospitals, Clinics, and ASCs, Diagnostic and Clinical Laboratories, Others),– Industry Trends and Forecast to 2029

Market Analysis and Size

The worldwide healthcare data storage market is predicted to grow due to the increased usage of electronic medical records and automated provider order entry to save time and boost efficiency. According to a report issued by the Centers for Disease Control and Prevention in 2017, about 86.9% of office-based physicians used EMR (Electronic Medical Record) systems in 2017. Furthermore, as the load of healthcare data grows in clinics, hospitals, diagnostic centres, and healthcare manufacturing enterprises, need for storage solutions will expand.

Data Bridge Market Research analyses that the healthcare data storage market which was USD 3.50 billion in 2021, would rocket up to USD 9.67 billion by 2029, and is expected to undergo a CAGR of 13.55% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Healthcare companies are building their IT infrastructures to be more flexible as well as scalable to meet the growing data demand. Healthcare data storage systems allow healthcare organizations to manage, collect, and analyze data which can be later used for making decisions and improving their operations for efficiency.

Healthcare Data Storage Market Dynamics

Drivers

• Usage of digital elevations

In the expected period of 2022 to 2029, digital elevations such as blockchain resolves for curing or recovering data support throttled the business germination of data centre backup and restoration software dramatically. The rising threat of cyber-crime and data fraud has exacerbated the distressing circumstances of data security in businesses; as a result, managing such situations is aiding the market's growth. During the seven-year growing season, the firm is vulnerable to several constraints, such as improving data silos discerning and the cut-throat competition presented by alternative professionals, which may have an impact on the cost.

• Rise in data storage

The healthcare data storage industry is likely to rise rapidly in the future due to the recent adoption of data storage systems,  Healthcare data storage solutions enable healthcare organisations to collect, organise, and analyse data that can then be utilised to make informed decisions and improve operations. According to various research reports, healthcare data will grow at a rapid rate in the future, making it challenging for the healthcare business to manage enormous amounts of data. This is likely to increase demand for healthcare data storage solutions, which will drive market expansion over the forecast period.

• Introduction of the interoperable system and cloud-based computing system

A major driving force in the healthcare data storage market is the advent of interoperable systems and cloud-based computing systems for illness detection. Globally, there is a growing demand for early disease detection. Cloud computing, which uses software, infrastructure, and platform as services, is a result of the computing revolution.

Opportunities

The market is expected to grow due to factors such as the growing volume of digital data generated in healthcare organisations, the rapid and easy deployment of cloud storage solutions, the increased use of electronic medical records (EMR) and computerised provider order entries (CPOE), and the growing adoption of hybrid data storage solutions.

Restraints/Challenges

However, the business is being restrained by increased security worries about cloud-based image processing and analytics. The global healthcare data storage market is projected to be hampered by rising security concerns related to cloud-based image processing and analytics. A lack of structured data will also impede market expansion.

This healthcare data storage market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the healthcare data storage market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 impact on Healthcare Data storage Market

The disease has expanded to nearly 180 nations around the world since the COVID-19 viral outbreak in December 2019, prompting the WHO to declare it a public health emergency. The disease's global effects are already being noticed, and it is predicted to have a big impact on the healthcare data storage market by 2020. The healthcare segment is likely to grow during the pandemic because it is the primary target for containing the virus, which will have a favourable impact on the healthcare data storage market. With the advent of the COVID-19 pandemic comes an enormous amount of valuable health-care data. The number of reported cases from various countries and hospitals has generated massive amounts of data. It is critical for politicians making strategic decisions at the height of the epidemic to use data-driven information in real time, yet many healthcare organisations are unable to swiftly and effectively harness the massive data sources required to meet the needs of the sector.

Global Healthcare Data Storage Market Scope

The healthcare data storage market is segmented on the basis of deployment, architecture, type, storage system and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Deployment

• On-premise
• Remote
• Hybrid

Architecture

• Object Storage
• File Storage
• Block Storage

Type

• Magnetic Storage
• Flash and Solid-state Storage

Storage System

• Direct-attached Storage
• Network-attached Storage
• Storage Area Network

Application

• Pharmaceutical and Biotechnology Companies, CROs, and CMOS
• Research Centers, Academic and Government Institutes, and Clinical
• Research Labs
• Hospitals, Clinics, and ASCs
• Diagnostic and Clinical Laboratories
• Other

Healthcare Data Storage Market Regional Analysis/Insights

The healthcare data storage market is analysed and market size insights and trends are provided by country, deployment, architecture, type, storage system and application as referenced above.

The countries covered in the healthcare data storage market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominating the healthcare data storage market due to the immense amount of data loss, database arrangement crash, and operational obstacles.

Asia-Pacific is also anticipated to witness a significant growth, owed to rise in population and governments investing in healthcare infrastructure.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Healthcare Data Storage Market Share Analysis

The healthcare data storage market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare data storage market.

Some of the major players operating in the healthcare data storage market are:

• Dell (US)
• IBM (US)
• NetApp (US)
• Hewlett Packard Enterprise Development LP (US)
• Pure Storage, Inc. (US)
• Hitachi, Ltd. (Japan)
• Toshiba Corporation (Japan)
• Western Digital Corporation (US)
• Scality (US)
• Huawei Technologies Co., Ltd. (China)
• Fujitsu (Japan)
• Samsung (South Korea)
• Drobo Inc. (US)
• Tintri (US)
• Cloudian (US)
• Schneider Electric (France)