
Healthcare Data Storage Market Forecasts to 2030 – Global Analysis By Type (Magnetic Storage and Flash & Solid-State Storage), Data Type, Deployment, Architecture, Storage System, Application, End User and By Geography
Description
Healthcare Data Storage Market Forecasts to 2030 – Global Analysis By Type (Magnetic Storage and Flash & Solid-State Storage), Data Type, Deployment, Architecture, Storage System, Application, End User and By Geography
According to Stratistics MRC, the Global Healthcare Data Storage Market is accounted for $4.6 billion in 2023 and is expected to reach $13.3 billion by 2030 growing at a CAGR of 16.3% during the forecast period. Electronic health records (EHRs), medical photographs, patient data, and other healthcare-related data are stored and managed in a safe and legal manner under the heading of ""healthcare data storage."" Maintaining the confidentiality, security, and accessibility of patient records and medical information depends on effective healthcare data storage. Electronic prescriptions, medication histories, and databases of drug interactions are among the other types of healthcare data that may be stored. In order for various systems to connect with one another and share patient data, data interoperability is essential in the storage of healthcare data
According to the report of Zivaro, an IT service management company, published in June 2022, the growth of Healthcare Data Storage interoperability is the main force behind innovation in cloud computing. Numerous healthcare organizations around the United States produce enormous amounts of Healthcare Data.
Market Dynamics
Driver
Rapid digitization of healthcare records
The market for healthcare data storage is being significantly stimulated by the quick digitalization of medical information. The switch from paper-based to electronic health records (EHRs) has a number of ramifications and large volumes of digital data, including as patient histories, clinical notes, test results, prescriptions, and more, are produced as a result of the switch to electronic records. Data storage systems that can manage these enormous datasets are necessary since the volume of healthcare data is growing constantly. Healthcare firms may concentrate patient data in one easily accessible area acknowledgments to digitization. This centralized strategy simplifies data administration and makes it simpler to retrieve patient records, ultimately leading to an improvement in patient care.
Restraint
Cost limitations
Healthcare providers and the industry as a whole may suffer from a number of drawbacks as a result of cost restrictions in the market for healthcare data storage. These limitations may restrict the use of cutting-edge data storage systems and reduce the efficacy of healthcare data management. Budget restrictions may lead healthcare companies to choose less expensive but less substantial storage options. Due to a lack of storage space, businesses may be forced to reduce data retention or performance, which might have an impact on medical care and scientific research. Healthcare providers could settle for inferior or antiquated storage systems in an effort to reduce expenses thereby hampering the growth of the market.
Opportunity
Growing volume of health data with advancements in Medical Imaging
Data storage is affected in a number of ways by the healthcare sector's reliance on medical imaging and the growing amount of data these technologies produce. Large data files are generated by medical imaging technologies as MRI (Magnetic Resonance Imaging), CT (Computed Tomography) scans, and digital radiography. Healthcare data storage systems must effectively manage this expanding data volume. To track a patient's progress or the development of a condition, it is standard practice in healthcare to compare medical photographs across time. These longitudinal pictures must be stored in a safe, scalable, and effective manner which is effectively contained by the healthcare data storage systems further encourage the market towards growth.
Threat
Data security risks
In the healthcare industry, protecting patient data is crucial, and security breaches can have major repercussions. Sensitive health information about patients may be exposed and subject to unauthorized access as a result of data security breaches. Patients who see such transgressions may experience mental suffering and lose faith in healthcare institutions. Data loss or corruption is a security issue that may have an influence on how patients are treated and cared for and might jeopardize the accuracy of medical records thus impeding the market.
Covid-19 Impact
The market for healthcare data storage was significantly impacted by the COVID-19 epidemic. The pandemic exposed healthcare data management and storage's weaknesses as well as its potential. Data security and patient privacy have become more of a worry as telehealth and remote patient monitoring have grown. To safeguard sensitive patient data, healthcare data storage systems needs to be reinforced with stronger security measures. Data on vaccine delivery, distribution, and patient immunization records became crucial as vaccination efforts spread around the globe. Solutions for storing healthcare data were crucial to manage this data.
The magnetic storage segment is expected to be the largest during the forecast period
The magnetic storage segment is estimated to have a lucrative growth, as it has been used for a long time to handle and store many kinds of patient and medical data. Hard disk drives (HDDs) and magnetic tape are two examples of magnetic storage media that are renowned for their capacity, robustness, and affordability. X-rays, CT scans, MRIs, and ultrasounds are all examples of medical pictures that are frequently stored on magnetic storage. Magnetic storage systems are frequently used by Picture Archiving and Communication Systems (PACS) to store and handle these massive, high-resolution image files. The essential capacity for these data-intensive applications is provided by magnetic storage.
The electronic health records (EHRs) segment is expected to have the highest CAGR during the forecast period
The electronic health records (EHRs) segment is anticipated to witness the highest CAGR growth during the forecast period, because EHRs are digital renditions of patients' paper files and medical histories that provide in-depth data on their condition and care. To offer high-quality treatment, enhance patient outcomes, and effectively manage patient data, healthcare practitioners need these records. EHRs work best when patient data can be readily shared and exchanged. Interoperability is made possible by data storage solutions, which allow various healthcare providers and systems to safely access and exchange patient records. In order to handle the rising amount of patient data and the expanding adoption of EHRs, the storage infrastructure must be scalable. Hence all the above factors enhance the market growth.
Region with largest share
Asia Pacific is projected to hold the largest market share during the forecast period owing to the Investments in secure data storage and management systems were sparked by regulatory frameworks such as the Health Insurance Portability and Accountability Act (HIPAA) in the United States and comparable privacy regulations in Canada. An assortment of well-known technology firms and specialist healthcare IT suppliers were present in the North American healthcare data storage industry. These businesses provided a variety of data storage options, such as private and public on-premises systems which boosts the market.
Region with highest CAGR
Europe is projected to have the highest CAGR over the forecast period, owing to the demand for safe and compliant data storage solutions, the rising volume of healthcare data, and the increasing usage of electronic health records (EHRs) all contributed to the dynamic and expanding European healthcare data storage industry. Nevertheless, that the landscape of healthcare technology is subject to quick change, making it crucial to confirm the most recent statistics and trends from reputable sources. Market development was significantly influenced by compliance with healthcare and data protection requirements, including the General Data Protection Regulation (GDPR) are driving the market.
Key players in the market
Some of the key players profiled in the Healthcare Data Storage Market include IBM Corporation, Pure Storage, Dell Technologies, Tintri, Fujitsu Limited, Huawei Technologies Co., Ltd., Toshiba Corporation, Hitachi, Drobo, Cloudian, Samsung Electronics Co., Ltd, NetApp, Western Digital., Samsung, Carestream Corporation, Nuance Communications, Inc and Hewlett Packard Enterprise
Key Developments
In October 2023, Pure Storage® the IT pioneer that delivers the world’s most advanced data storage technology and services, announced critical new data resilience offerings, including the introduction of Pure Protect™//DRaaS.
In October 2023, Fujitsu announced a new technology for automated generation of AI solutions, offering users the possibility to customize AI innovation components (1) offered via the “Fujitsu Kozuchi - Fujitsu AI Platform.” Fujitsu will start offering the new technology via Fujitsu Kozuchi to users in Japan.
In August 2023, Pure Storage® announced an expanded, multi-year strategic product and go-to-market partnership with Microsoft that brings Pure Storage’s industry leading storage capabilities.
Types Covered
• Magnetic Storage
• Flash & Solid-State Storage
Data Types Covered
• Unstructured
• Semi-Structured
• Structured
Deployments Covered
• Remote
• Hybrid
• On-Premise
Architectures Covered
• Object Storage
• File Storage
• Block Storage
Storage Systems Covered
• Direct-Attached Storage
• Network-Attached Storage
• Storage Area Network
Applications Covered
• Clinical Trials
• Electronic Health Records (EHRs)
• Medical Imaging
• Population Health Management
• Genomics
• Other Applications
End Users Covered
• Research Centres
• Academic & Government Institutes
• Hospitals
• Pharmaceutical & Biotechnology Companies
• Clinics & Ambulatory Surgical Centers (ASC)
• Diagnostic & Clinical Laboratories
• Contract Research Organizations (CROs) & Contract Manufacturing Organizations (CMOs)
• Other End Users
Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Table of Contents
200 Pages
- 1 Executive Summary
- 2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
- 3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
- 4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global Healthcare Data Storage Market, By Type
- 5.1 Introduction
- 5.2 Magnetic Storage
- 5.3 Flash & Solid-State Storage
- 6 Global Healthcare Data Storage Market, By Data Type
- 6.1 Introduction
- 6.2 Unstructured
- 6.3 Semi-Structured
- 6.4 Structured
- 7 Global Healthcare Data Storage Market, By Deployment
- 7.1 Introduction
- 7.2 Remote
- 7.3 Hybrid
- 7.4 On-Premise
- 8 Global Healthcare Data Storage Market, By Architecture
- 8.1 Introduction
- 8.2 Object Storage
- 8.3 File Storage
- 8.4 Block Storage
- 9 Global Healthcare Data Storage Market, By Storage System
- 9.1 Introduction
- 9.2 Direct-Attached Storage
- 9.3 Network-Attached Storage
- 9.4 Storage Area Network
- 10 Global Healthcare Data Storage Market, By Application
- 10.1 Introduction
- 10.2 Clinical Trials
- 10.3 Electronic Health Records (EHRs)
- 10.4 Medical Imaging
- 10.5 Population Health Management
- 10.6 Genomics
- 10.7 Other Applications
- 11 Global Healthcare Data Storage Market, By End User
- 11.1 Introduction
- 11.2 Research Centres
- 11.3 Academic & Government Institutes
- 11.4 Hospitals
- 11.5 Pharmaceutical & Biotechnology Companies
- 11.6 Clinics & Ambulatory Surgical Centers (ASC)
- 11.7 Diagnostic & Clinical Laboratories
- 11.8 Contract Research Organizations (CROs) & Contract Manufacturing Organizations (CMOs)
- 11.9 Other End Users
- 12 Global Healthcare Data Storage Market, By Geography
- 12.1 Introduction
- 12.2 North America
- 12.2.1 US
- 12.2.2 Canada
- 12.2.3 Mexico
- 12.3 Europe
- 12.3.1 Germany
- 12.3.2 UK
- 12.3.3 Italy
- 12.3.4 France
- 12.3.5 Spain
- 12.3.6 Rest of Europe
- 12.4 Asia Pacific
- 12.4.1 Japan
- 12.4.2 China
- 12.4.3 India
- 12.4.4 Australia
- 12.4.5 New Zealand
- 12.4.6 South Korea
- 12.4.7 Rest of Asia Pacific
- 12.5 South America
- 12.5.1 Argentina
- 12.5.2 Brazil
- 12.5.3 Chile
- 12.5.4 Rest of South America
- 12.6 Middle East & Africa
- 12.6.1 Saudi Arabia
- 12.6.2 UAE
- 12.6.3 Qatar
- 12.6.4 South Africa
- 12.6.5 Rest of Middle East & Africa
- 13 Key Developments
- 13.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 13.2 Acquisitions & Mergers
- 13.3 New Product Launch
- 13.4 Expansions
- 13.5 Other Key Strategies
- 14 Company Profiling
- 14.1 IBM Corporation
- 14.2 Pure Storage
- 14.3 Dell Technologies
- 14.4 Tintri
- 14.5 Fujitsu Limited
- 14.6 Huawei Technologies Co., Ltd.
- 14.7 Toshiba Corporation
- 14.8 Hitachi
- 14.9 Drobo
- 14.10 Cloudian
- 14.11 Samsung Electronics Co., Ltd
- 14.12 NetApp
- 14.13 Western Digital.
- 14.14 Samsung
- 14.15 Carestream Corporation
- 14.16 Nuance Communications, Inc
- 14.17 Hewlett Packard Enterprise
- List of Tables
- Table 1 Global Healthcare Data Storage Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Healthcare Data Storage Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Healthcare Data Storage Market Outlook, By Magnetic Storage (2021-2030) ($MN)
- Table 4 Global Healthcare Data Storage Market Outlook, By Flash & Solid-State Storage (2021-2030) ($MN)
- Table 5 Global Healthcare Data Storage Market Outlook, By Data Type (2021-2030) ($MN)
- Table 6 Global Healthcare Data Storage Market Outlook, By Unstructured (2021-2030) ($MN)
- Table 7 Global Healthcare Data Storage Market Outlook, By Semi-Structured (2021-2030) ($MN)
- Table 8 Global Healthcare Data Storage Market Outlook, By Structured (2021-2030) ($MN)
- Table 9 Global Healthcare Data Storage Market Outlook, By Deployment (2021-2030) ($MN)
- Table 10 Global Healthcare Data Storage Market Outlook, By Remote (2021-2030) ($MN)
- Table 11 Global Healthcare Data Storage Market Outlook, By Hybrid (2021-2030) ($MN)
- Table 12 Global Healthcare Data Storage Market Outlook, By On-Premise (2021-2030) ($MN)
- Table 13 Global Healthcare Data Storage Market Outlook, By Architecture (2021-2030) ($MN)
- Table 14 Global Healthcare Data Storage Market Outlook, By Object Storage (2021-2030) ($MN)
- Table 15 Global Healthcare Data Storage Market Outlook, By File Storage (2021-2030) ($MN)
- Table 16 Global Healthcare Data Storage Market Outlook, By Block Storage (2021-2030) ($MN)
- Table 17 Global Healthcare Data Storage Market Outlook, By Storage System (2021-2030) ($MN)
- Table 18 Global Healthcare Data Storage Market Outlook, By Direct-Attached Storage (2021-2030) ($MN)
- Table 19 Global Healthcare Data Storage Market Outlook, By Network-Attached Storage (2021-2030) ($MN)
- Table 20 Global Healthcare Data Storage Market Outlook, By Storage Area Network (2021-2030) ($MN)
- Table 21 Global Healthcare Data Storage Market Outlook, By Application (2021-2030) ($MN)
- Table 22 Global Healthcare Data Storage Market Outlook, By Clinical Trials (2021-2030) ($MN)
- Table 23 Global Healthcare Data Storage Market Outlook, By Electronic Health Records (EHRs) (2021-2030) ($MN)
- Table 24 Global Healthcare Data Storage Market Outlook, By Medical Imaging (2021-2030) ($MN)
- Table 25 Global Healthcare Data Storage Market Outlook, By Population Health Management (2021-2030) ($MN)
- Table 26 Global Healthcare Data Storage Market Outlook, By Genomics (2021-2030) ($MN)
- Table 27 Global Healthcare Data Storage Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 28 Global Healthcare Data Storage Market Outlook, By End User (2021-2030) ($MN)
- Table 29 Global Healthcare Data Storage Market Outlook, By Research Centres (2021-2030) ($MN)
- Table 30 Global Healthcare Data Storage Market Outlook, By Academic & Government Institutes (2021-2030) ($MN)
- Table 31 Global Healthcare Data Storage Market Outlook, By Hospitals (2021-2030) ($MN)
- Table 32 Global Healthcare Data Storage Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
- Table 33 Global Healthcare Data Storage Market Outlook, By Clinics & Ambulatory Surgical Centers (ASC) (2021-2030) ($MN)
- Table 34 Global Healthcare Data Storage Market Outlook, By Diagnostic & Clinical Laboratories (2021-2030) ($MN)
- Table 35 Global Healthcare Data Storage Market Outlook, By Contract Research Organizations (CROs) & Contract Manufacturing Organizations (CMOs) (2021-2030) ($MN)
- Table 36 Global Healthcare Data Storage Market Outlook, By Other End Users (2021-2030) ($MN)
- Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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