Global Healthcare Data Storage Market Is Likely to Grow at A CAGR Value of Around 13.80% By 2028
NEW YORK, Aug. 19, 2022 /PRNewswire/ — As per Zion Market Research study, The global healthcare data storage market size was worth around USD 3,291.70 million in 2021 and is estimated to grow to about USD 7149.46 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.80 percent over the forecast period.
Healthcare Data Storage Market: Overview
The growing amount of digital data created by healthcare companies, the quick & easy implementation of cloud storage solutions, and the increased acceptance of hybrid data storage solutions drive the healthcare backup and recovery. Furthermore, the enormous patient suffering from chronic diseases such as cancer, diabetes, and osteoarthritis produces huge clinical databases that are difficult to maintain, driving the rising demand for healthcare data storage solutions. The increased use of electronic health records (EMR) and computerized provider order entry (CPOE) to save time and increase performance impacts the healthcare data storage business. Data security issues, increasing medical fraud, and cyber-attacks all impede the growth of the healthcare data storage industry.
The expanding acceptance of the Internet of Things (IoT), the development of social media, and the rising prevalence of healthcare wearables in individuals throughout the world give profitable opportunities that fuel the global healthcare data storage market expansion. Some of the primary elements driving this increase in product acceptance are the distribution model’s ability to use inter architecture and lower risks associated with external assaults & data breaches.
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Key Industry Insights & Findings of the Healthcare Data Storage Market Reports:
- As per the analysis shared by our research analyst, the Healthcare Data Storage Market is expected to grow annually at a CAGR of around 13.80 % (2022-2028).
- Through the primary research, it was established that the Healthcare Data Storage Market was valued at approximately USD 3291.70 million in 2021 and is projected to reach roughly USD 7149.46 million by 2028.
- The introduction of process standardization and cloud-based computer networks for illness detection is a major driving force in the global healthcare data storage market. There is an increasing global demand for the early detection of diseases. The computing revolution has resulted in cloud computing, which leverages software, infrastructure, and platforms as services, thereby driving market growth.
- Enhanced security concerns over cloud-based image processing and analytics limit the market’s growth. Rising security worries over cloud-based image processing and analytics are expected to hinder the global healthcare data storage market.
- Healthcare data storage solutions allow healthcare organizations to store, organize, and analyze data, which can then be used to make informed decisions and enhance operations. This is projected to boost the healthcare data storage solutions market, propelling the market growth over the forecast period.
- The demand for dependable, secure, and cost-effective storage infrastructure is increasing, which will support the growth of the North American healthcare data storage market during the forecast period.
- Increased rapid & early adoption of data storage solutions, an increase in the volume of unstructured healthcare data, the use of innovative solutions by clinics & hospitals, the availability of cost-effective storage, and well-equipped healthcare infrastructure are all contributing to the regional market growth. North America’s leading countries are the United States and Canada.
Zion Market Research published the latest report titled “Healthcare Data Storage Market By Deployment (On-Premise, Cloud, Hybrid Data), By Architecture (Object Storage, File Storage, Block Storage), By Type (Flash & Solid-State Storage, Magnetic Storage, Magnetic tapes and Magnetic disks), By Storage system( Storage Area Network, Direct-Attached Storage), By End Users (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, CROS, and CMOS, Others) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.“ into their research database.
Industry Dynamics:
Healthcare Data Storage Market: Growth Drivers
- The introduction of the cloud-based computing system will likely pave the way for global market growth..
The introduction of process standardization and cloud-based computer networks for illness detection is a major driving force in the global healthcare data storage market. There is an increasing global demand for the early detection of diseases. The computing revolution has resulted in cloud computing, which leverages software, infrastructure, and platforms as services, thereby driving market growth.
Healthcare Data Storage Market: Restraints
- The rising number of security worries may hamper the global market growth.
However, enhanced security concerns over cloud-based image processing and analytics limit the market’s growth. Rising security worries over cloud-based image processing and analytics are expected to hinder the global healthcare data storage market.
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Global Healthcare Data Storage Market: Opportunities
- Rise in data storage to bring up several growth opportunities.
The healthcare data storage business is expected to grow fast due to the recent acceptance of data storage devices. Healthcare data storage solutions allow healthcare organizations to store, organize, and analyze data, which can then be used to make informed decisions and enhance operations. This is projected to boost the healthcare data storage solutions market, propelling the market growth over the forecast period.
Global Healthcare Data Storage Market: Segmentation
- The global healthcare data storage market is segregated based on, type, storage, deployment, architecture, storage system, end users, and region.
By deployment model, the market is classified into on-premises, hybrid and remote. Over the forecast period, the on-premises market is expected to develop at the fastest rate. Because customers have on-premises storage and manage their deployment, data retrieval systems, and backup, and restricted storage development model use multiple vendor design and reduce risks related to data breaches and external assaults.
By architecture, the market is segmented into object storage, file storage, and block storage. The file storage segment is expected to show lucrative growth in the market. It is an ancient practice to save data in this manner. Many businesses want a centralized, user-friendly, and accessible method of file storage. Small businesses favor it because it is more affordable than alternative methods of data storage.
By type, the market is segmented into flash & solid-state storage, magnetic storage, magnetic tapes, and magnetic disks. The largest segment by type is held by flash & solid-state storage in the market in 2021. Due to the higher storage of flash and solid-state compared to magnetic disks, it is anticipated to develop at the highest rate. Furthermore, flash drives and solid-state drives are now much more affordable, which has improved end-user adoption.
By end-use, the market is classified into hospitals & clinics, pharmaceutical & biotechnology companies, CROs, and COMS, others. The hospitals & clinics segment held a significant share in the market in2021.
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List of Key Players in Healthcare Data Storage Market:
- Dell
- IBM Corporation
- NetApp
- Hewlett Packard Enterprise
- Pure Storage Inc.
- Hitachi Ltd.
- Toshiba Corporation
- Western Digital Corporation
- Scalisi
- Huawei Technologies Co.Ltd.
- Fujitsu
- Samsung
- Drobox
- Tantric
- Cloudman .
Key questions answered in this report:
- What are the growth rate forecast and market size for Healthcare Data Storage Market?
- What are the key driving factors propelling the Healthcare Data Storage Market forward?
- What are the most important companies in the Healthcare Data Storage Market Industry?
- What segments does the Healthcare Data Storage Market cover?
- How can I receive a free copy of the Healthcare Data Storage Market sample report and company profiles?
Report Scope:
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Recent Developments
- June 24, 2022, Dell Technologies announced the improved system performance of Dell EMC Veral hyper-converged infrastructure, and has launched the Dell EMC PowerEdge Servers.
- June 05, 2019, Scalisi launched its Ring 7.4 has distributed file and object storage which eases installation and continuous management and adds a low-cost server entry configuration.
Regional Dominance:
North America dominated the healthcare data storage market in 2021.
North America dominates the global healthcare data storage market due to the evolution of technology and increase in the volume of uncontrolled healthcare data in the region. The demand for dependable, secure, and cost-effective storage infrastructure is increasing, which will support the growth of the North American healthcare data storage market during the forecast period. Factors such as increased rapid & early adoption of data storage solutions, an increase in the volume of unstructured healthcare data, the use of innovative solutions by clinics & hospitals, the availability of cost-effective storage, and well-equipped healthcare infrastructure are all contributing to the regional market growth. North America’s leading countries are the United States and Canada.
The region’s growth can also be attributed to the rising population, rapid technological advancements, and the presence of countries. The growing older population and the current large patient pool drive the expansion of the healthcare data storage market.
Global Healthcare Data Storage Market is segmented as follows:
Healthcare Data Storage Market: By Deployment Outlook (2022-2028)
- On-premises
- Remote
- Hybrid
Healthcare Data Storage Market: By Architecture Outlook (2022-2028)
- Object Storage
- File Storage
- Block Storage
Healthcare Data Storage Market: By Type Outlook (2022-2028)
- Magnetic Storage
- Magnetic Disks
- Magnetic Tapes
- Flash & Solid-state Storage
Healthcare Data Storage Market: By Storage System Outlook (2022-2028)
- Direct-attached Storage
- Network-attached Storage
- Storage Area Network
Healthcare Data Storage Market: By End User System Outlook (2022-2028)
- Pharmaceutical & Biotechnology Companies, CROs, and CMOS
- Research Centers, Academic & Government Institutes, and Clinical Research Labs
- Hospitals, Clinics, and ASCs
- Diagnostic & Clinical Laboratories
- Other End Users
Healthcare Data Storage Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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