Report Scope & Overview:
The Healthcare Data Storage Market Size was valued at USD 4.12 billion in 2022, and is expected to reach USD 12.17 billion by 2030, and grow at a CAGR of 14.5% over the forecast period 2023-2030.
Due to the recent adoption of data storage systems, the healthcare data storage industry is anticipated to experience remarkable growth in the coming years. Healthcare organisations may gather, manage, and analyses data with the help of healthcare data storage solutions, which can then be utilised to make choices and improve operations. Numerous studies have shown that the amount of healthcare data will grow rapidly in the future and that handling this volume of data would be particularly challenging for the healthcare sector. Healthcare data storage solutions are anticipated to become more popular as a result, which would help the market grow over the projected period.
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The volume of digital data in healthcare organisations has greatly increased.
Deploying Cloud Storage Solutions More Rapidly and Easily
The Use of Hybrid Data Storage Solutions is Growing
Growing healthcare fraud, data security issues, and cyberattacks are impeding the market's expansion.
Data analytics and AI are becoming more important.
Cloud-Based Image Processing and Analytics: Growing Security Issues
Insufficient Structured Data
IMPACT OF COVID-19
Global demand for healthcare data storage has been positively impacted by the emergence of a new coronavirus (COVID-19). As the usage of new technologies like cloud storage has grown throughout the pandemic, the number of hospitals has expanded. Additionally, the rise of e-hospitals and smart hospitals has accelerated market growth. Furthermore, telemedicine is becoming more commonplace and providing healthcare through various digital channels, producing a variety of data in the form of electronic prescriptions.
Solutions for on-premise, remote, and hybrid environments make up the market segments. The on-premise sector is anticipated to hold the biggest market share. The most extensively used storage options on the market are on-premise ones. The danger of a data breach and outside attacks can be reduced by using this deployment methodology, which can include a multi-vendor architecture. Additionally, users are in charge of deployment, backup, and data recovery processes and own their on-premise storage. The on-premise solutions industry is expanding due to these benefits.
The healthcare data storage market is being led by the object storage architecture segment because object storage makes it possible to compare and store unformed data. For the big data requirements of businesses in the finance, healthcare, etc. sectors, object storage is ideally suited. The majority of businesses require easy-to-use, centralized, and the best available methods for storing the data. File storage is an outdated method for doing so. Small firms require more for file storage as it is affordable compared to other data storing techniques. When reliable and speedy data transit is required, block storage, which stores data in discrete chunks, is a highly preferred option.
Magnetic storage and flash & solid-state storage are two market segments. The market's greatest share was held by the category for flash and solid-state storage, which is also anticipated to grow at the fastest rate throughout the projected period. Flash and solid-state drives have seen a rise in end user usage as a result of their higher storage capacities than magnetic discs and lower costs.
By Storage System
Market share for healthcare data storage is held by storage area networks. Fiber optic connections link a network of discs to numerous servers. Network-attached storage consists of a single server that distributes storage over the network.
By End User
Areas of medicine, biotechnology, research, education and government; hospitals, clinics, and ASCs; diagnostic and clinical laboratories; and other end users form components of the medical market. In 2018, the pharmaceutical and biotechnology industry, along with CROs and CMOs, held the largest market share. This may be due to the fact that the pharmaceutical and biotechnology industries are conducting extensive research into the discovery of medicines, which generate large amounts of data.
KEY MARKET SEGMENTATION:
Flash & Solid-state Storage
By Storage System
Storage Area Network
By End User
Pharmaceutical & Biotechnology Companies, CROs, and CMOS
Hospitals, Clinics, and ASCs
Research Centers, Academic & Government Institutes, and Clinical Research Lab
Diagnostic & Clinical Laboratories
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Due to its excellent healthcare infrastructure and early adoption of healthcare data storage technologies, North America is predicted to experience the largest growth. Due to population expansion and government investments in healthcare facilities, Asia-Pacific is also predicted to experience significant growth.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Some of the major key players are as follows: Cloudian, Scality, Dell Technologies, Samsung Electronics Co., Ltd, Fujitsu Limited, IBM Corporation, Hitachi, Ltd., NetApp, Hewlett Packard Enterprise (HPE), Pure Storage, Huawei Technologies Co., Ltd. and Other Players
|Market Size in 2022||US$ 4.12 Billion|
|Market Size by 2030||US$ 12.17 Billion|
|CAGR||CAGR of 14.5% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Deployment (Remote, On-premise, Hybrid)
• By Architecture (Object Storage, Block Storage, File Storage)
• By Type (Magnetic Storage, Flash & Solid-state Storage, Magnetic Disks, Magnetic Tapes)
• By Storage System (Direct-attached Storage, Storage Area Network, Network-attached Storage)
• By End User (Pharmaceutical & Biotechnology Companies, CROs, and CMOS, Hospitals, Clinics, and ASCs, Research Centers, Academic & Government Institutes, and Clinical Research Lab, Diagnostic & Clinical Laboratories)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Cloudian, Scality, Dell Technologies, Samsung Electronics Co., Ltd, Fujitsu Limited, IBM Corporation, Hitachi, Ltd., NetApp, Hewlett Packard Enterprise (HPE), Pure Storage, Huawei Technologies Co., Ltd.|
|DRIVERS||• The volume of digital data in healthcare organisations has greatly increased.
• Deploying Cloud Storage Solutions More Rapidly and Easily
• The Use of Hybrid Data Storage Solutions is Growing
|RESTRAINTS||• Growing healthcare fraud, data security issues, and cyberattacks are impeding the market's expansion.
• Healthcare data storage market growth is constrained by the high cost of deploying EMR & EHR systems and the subsequent requirement for training.
Ans: The Healthcare Data Storage Market size is estimated to reach US$ 12.17 billion by 2030.
The challenge faced by the Healthcare Data Storage market is Insufficient Structured Data.
The by Architecture is divided into three sub segments is Object Storage, Block Storage, and File Storage.
The on-premise sector is anticipated to hold the biggest market share.
Ans: The Healthcare Data Storage Market is to grow at a CAGR of 14.5% over the forecast period 2023-2030.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
184.108.40.206 United Kingdom
220.127.116.11 South Korea
18.104.22.168 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare Data Storage Market Segmentation, By Deployment
9. Healthcare Data Storage Market Segmentation, By Architecture
9.1 Object Storage
9.2 Block Storage
9.3 File Storage
10. Healthcare Data Storage Market Segmentation, By Type
10.1 Magnetic Storage
10.2 Flash & Solid-state Storage
10.3 Magnetic Disks
10.4 Magnetic Tapes
11. Healthcare Data Storage Market Segmentation, By Storage System
11.1 Direct-attached Storage
11.2 Storage Area Network
11.3 Network-attached Storage
12. Healthcare Data Storage Market Segmentation, By End User
12.1 Pharmaceutical & Biotechnology Companies, CROs, and CMOS
12.2 Hospitals, Clinics, and ASCs
12.3 Research Centers, Academic & Government Institutes, and Clinical Research Lab
12.4 Diagnostic & Clinical Laboratories
13. Regional Analysis
13.2 North America
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Dell Technologies
14.3 Samsung Electronics Co., Ltd
14.4 Fujitsu Limited
14.5 IBM Corporation
14.6 Hitachi, Ltd.
14.8 Hewlett Packard Enterprise (HPE)
14.9 Pure Storage
14.10 Huawei Technologies Co., Ltd.
15.1 Competitive Benchmark
15.2 Market Share Analysis
15.3 Recent Developments
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
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Step 3: Data Bank Validation
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Step 4: QA/QC Process
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