Pune, March 27, 2023 (GLOBE NEWSWIRE) -- The Healthcare Data Storage Market was valued at USD 4.12 billion in 2022, with an estimated growth to USD 12.17 billion by 2030, at a compound annual growth rate (CAGR) of 14.5% during the forecast period of 2023-2030, as reported by SNS Insider.
Market Overview
Healthcare data storage is a crucial aspect of the healthcare industry, which involves the safe and secure storage of sensitive patient information. The healthcare industry generates a vast amount of data every day, including medical records, diagnostic reports, treatment plans, and other important information that is critical to providing quality patient care. To ensure the safety and security of healthcare data, healthcare organizations must employ robust data storage solutions that meet stringent regulatory requirements.
Market Analysis
The healthcare industry is undergoing a digital transformation, with the adoption of data storage systems being a major driver. This trend is expected to result in significant growth for the healthcare data storage market in the coming years. One of the key drivers is the increasing adoption of electronic health records (EHRs) by healthcare providers. EHRs enable healthcare organizations to collect and store patient data electronically, improving efficiency and reducing the risk of errors. Another factor driving the market growth is the increasing use of telemedicine and other digital health technologies.
Major Key Players Listed in this Report Are:
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.
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Impact of Recession on Healthcare Data Storage Market Growth
The recession has had a significant impact on the market. Healthcare providers are becoming more cautious with their spending, government funding for healthcare is decreasing, and patient visits are declining. However, the demand for healthcare data storage solutions remains essential, and providers will continue to invest in these solutions as the need for digitization in healthcare continues to grow.
Healthcare Data Storage Market Report Scope:
| Report Attributes | Details |
| 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 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segmentation | • 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) |
| Key Regional 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) |
Key Regional Developments
North America is one of the fastest-growing regions in the Healthcare Data Storage market due to its early adoption of healthcare data storage solutions and advanced healthcare infrastructure. Hospitals and clinics in North America are constantly looking for innovative solutions to maintain patient data, which is driving the growth of the market in the region. As healthcare providers continue to adopt digital technologies to improve patient care and outcomes, the need for secure, reliable, and accessible data storage solutions will only increase.
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Key Takeaway from Healthcare Data Storage Market Study
- While cloud-based storage solutions are becoming increasingly popular in the healthcare industry, on-premise storage is expected to remain the dominant storage option for the foreseeable future.
- The market is being led by the object storage architecture segment because of the numerous advantages it offers. One of the significant advantages of object storage is that it allows for the comparison and storage of unstructured data, such as medical images and videos, without the need for metadata or a predefined data structure.
Recent Developments Related to Healthcare Data Storage Market
- Redox, a healthcare data exchange platform, and Google Cloud have announced a strategic partnership to enhance healthcare data interoperability. The collaboration aims to simplify and accelerate the exchange of healthcare data between patients, providers, and payers by leveraging Google Cloud's advanced analytics and machine learning capabilities and Redox's secure data exchange platform.
- Google Cloud has announced the launch of three new "Accelerators" to assist healthcare companies in addressing some of the most pressing challenges in the industry. These accelerators are designed to help healthcare organizations improve health equity, patient flow, and value-based care. The first accelerator, called the Health Equity Accelerator, will help healthcare organizations reduce health disparities by providing data-driven insights into social determinants of health.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
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
10. Healthcare Data Storage Market Segmentation, By Type
11. Healthcare Data Storage Market Segmentation, By Storage System
12. Healthcare Data Storage Market Segmentation, By End User
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion
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SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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