Healthcare Data Storage Market by Delivery (Remote, Hybrid, On-premise), Architecture (File, Block, Object), Type (Tape, Flash, Solid), Systems (Direct, Network), End-User (Pharma, Biotech, CRO, Hospital, Research Center), Region - Global Forecast to 2024
“The global healthcare data storage market is projected to grow at a CAGR of 14.3% during the forecast period.”
The healthcare data storage market is projected to reach USD 5.4 billion in 2024 from USD 2.8 billion in 2019, at a CAGR of 14.3%. The rising volume of digital data generated in healthcare organizations, the rapid and easy deployment of cloud storage solutions, and increasing adoption of hybrid data storage solutions have all driven market growth.
“The file storage segment accounted for the largest share of the healthcare data storage architecture market in 2018.”
Based on architecture, the healthcare data storage market is segmented into file, object, and block storage. The file storage segment accounted for the largest share of the market in 2018. File storage offers easy syncing, sharing, and distribution of data, which has driven the demand for this architecture type. The object storage segment is expected to witness high growth in this market, mainly due to its capability to handle large volumes of unstructured data as opposed to file storage, which can only handle structured data.
“The flash & solid-state storage segment is projected to grow at the highest CAGR during the forecast period.”
Based on type, the healthcare data storage market is segmented into magnetic storage and flash & solid-state storage. The flash & solid-state storage segment is projected to grow at the highest CAGR during the forecast period. Over the years, the capacities of flash & solid-state drives have surpassed that of magnetic disks. Moreover, the price of flash and solid-state drives has also declined to a great extent, which has resulted in their increased adoption by end users.
“RoW to witness high growth during the forecast period.”
In 2018, North America accounted for the largest share of the market, followed by Europe. However, the RoW is expected to grow at the highest CAGR during the forecast period. The increasing volume of unstructured healthcare data and rapid technological advancements have driven demand for secure, reliable, and cost-efficient storage infrastructure in North America. North America, being the early adopter of advanced data storage technologies, captures the largest share of the healthcare data storage market, followed by Europe and Asia.
The primary interviews conducted for this report can be categorized as follows:
By Company Type: Tier 1 - 44%, Tier 2 - 36%, and Tier 3 - 20%.
By Designation: C-level - 22%, D-level - 28%, Others - 50%.
By Region: North America - 35%, Europe - 26%, Asia Pacific - 33%, and RoW - 6%.
List of companies profiled in the report
IBM Corporation (US)
Hewlett Packard Enterprise Development LP (US)
Pure Storage, Inc. (US)
Hitachi, Ltd. (Japan)
Toshiba Corporation (Japan)
Western Digital Corporation (US)
Huawei Technologies Co., Ltd. (China)
Samsung (South Korea)
The report provides an overview of the healthcare data storage market. It aims at estimating the market size and growth potential of this market across different segments such as deployment, storage system, architecture, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in the healthcare data storage market by providing them with the closest approximations of revenues for the overall market and its subsegments. This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies adopt suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.
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