Health data storage is a software solution used by clinics, diagnostic centers and hospitals to save patient data for future use. These software solutions are used by healthcare companies to store data about manufacturing products and their processes.
the healthcare data storage market was analyzed using the optimal combination of secondary sources and in-house methodology, as well as an irreplaceable mix of primary insights. Real-time market assessment is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of key attendees helped compile relevant aspects with realistic parametric estimates for in-depth study. The share of participation of the different categories of primary participants is given below:
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The factors responsible for the growth of the global healthcare data storage market can be termed as increase in clinical trials, increasing patient information due to increasing number of surgeries and research activities to develop products innovative. Additionally, the decreasing use of paper to store patient information has increased the demand for healthcare data storage solutions. Either way, the key aspects such as cyber attacks, data breach and high costs incurred in healthcare data storage solutions are limiting the growth of the market.
The healthcare data storage market is expected to reach $7.44 billion by 2026, from an estimated value of $3.27 billion in 2020, growing at a CAGR of around 14.7% during the period forecast.
The Healthcare Data Storage Market segmentation is detailed below:
- Magnetic storage
- Magnetic discs
- Magnetic tapes
- Flash and SSD storage
- Object storage
- File storage
- Storage blocking
Per end user
- Pharmaceutical and biotechnology companies, CRO and CMOS
- University and government institutes, research centers and clinical research laboratories
- Hospitals, clinics and CHWs
- Diagnostic and clinical laboratories
By storage system
- Direct Attached Storage
- network storage
- Network of storage areas
- North America
Based on storage type, the market is categorized into magnetic storage and flash and solid-state storage. The flash and solid-state storage segment covered the largest market share in 2019 and is expected to register the highest CAGR in the healthcare data storage market over the forecast period. Compared to magnetic disks and their decreasing costs, the high capacities of flash disks and SSDs have increased the demand from end users.
Based on the deployment model, the market is sub-divided into remote, on-premises and hybrid solutions. The on-premises model is expected to cover the largest share of the market. On-premises solutions are the most widely accepted storage solutions on the market. The localized storage deployment model can use a multi-vendor architecture and minimize the risks associated with external attacks and data breaches. Additionally, users can have their on-premises storage and control their data deployment, backup and recovery systems. These advantages are propelling the growth of the on-premises solutions market.
Based on the end user, the medical market is subdivided into pharmaceutical and biotechnology companies, CROs and CMOs; research centres, university and government institutes and clinical research laboratories; hospitals, clinics and CHWs; diagnostic and clinical laboratories; and other end users. The segment comprising pharmaceutical and biotechnology companies, CROs and CMOs, got the largest market share in 2018. This high revenue share can be attributed to the fact that extensive drug discovery research is performed in the companies. pharmaceutical and biotechnology industries, which creates a massive amount of data.
According to the architect, the medical market is segmented into object storage, file storage, and block storage. Object storage got the biggest share. Object storage can serve unstructured data with relative ease. Therefore, it is ideal for the big data needs of organizations in finance, healthcare and beyond. File storage is an old method for storing data using a simple approach. Many businesses require centralized, easy-to-use, and accessible ways to store files. It is commonly demanded by small businesses as it is inexpensive unlike other data storage approaches. Block storage or block-level storage is a facility that stores data in singular blocks. Block storage is widely preferred when efficient and fast transport of information is required.
Based on the storage system, there are three types; direct attached storage, network attached storage, and storage area network. The storage network is the most important segment. As the name suggests, a storage area network is an array of disks connected to a number of servers via fiber optics, while network attached storage is a single server that shares its storage over the network.
In 2019, North America covered the largest share of the market. Rapid advances in technology, coupled with an unsynchronized approach, have led to an increasing volume of unstructured health data. This information mess in the wake of growing consumer awareness and cyber threats has increased the demand for secure, reliable and cost-effective storage infrastructure in North America. The footprint is growing rapidly with increasing IT penetration and is expected to grow at the highest CAGR during the forecast period.
The major vendors analyzed in the Healthcare Data Storage Market report are Fujitsu, Samsung, Drobo, Tintri, Cloudian, Dell, IBM Corporation, NetApp, Hewlett Packard Enterprise (HPE), Pure Storage, Hitachi, Toshiba, Western Digital , Scality and Huawei. .
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Data storage plays a vital role not just in one field but in all industries. This report explains how the data storage market is entering the healthcare sector and also gives the analysis based on market segments.
- The report represents current trends, challenges, opportunities, and factors that are accelerating market growth.
- Furthermore, it also gives the SWOT analysis, portfolio strategies and analysis and potential analysis of key market players.
- Competitive analysis of major vendors provides perspective of dynamic strategies such as innovative technology, software upgrades that improve user experience.