The global healthcare data storage market size is expected to grow from $4.17 billion in 2021 to $4.92 billion in 2022 at a compound annual growth rate (CAGR) of 18.0%. The global healthcare data storage market size is expected to grow to $9.23 billion in 2026 at a CAGR of 17.0%.
What is the Global Healthcare Data Storage Market?
The healthcare data storage market consists of sales of healthcare data storage solutions by entities (organizations, sole traders, and partnerships) that provide data storage solutions and applications to store medical records. The use of a recording medium to retain data via computers or other devices is referred to as data storage. The most common types of data storage are file storage, block storage, and object storage, each of which is suitable for a specific purpose. The data storage is used by the healthcare sector for patient records, electronic medical records (EMR), and their backups, radiological images, insurance claims, and office documents. The data storage solutions are also used by healthcare companies to store data about manufacturing products and their processes.
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What drives the Global Healthcare Data Storage Market?
An increase in the volume of digital data storage in healthcare organizations is expected to drive the growth of the healthcare data storage market going forward. Advances in big data analytics tools and medical imaging, as well as the increasing availability of real-time data to aid clinical decision-making, have all contributed to this rapid increase in healthcare data volume. The collection and storage of healthcare data from a variety of sources encourage efficient communication between doctors and patients, improves overall patient care quality, and provides deeper insights into specific conditions. For instance, according to RBC Capital Markets, a Canada-based investment bank, in 2020, the healthcare industry generated about 30% of the world's total data volume. In addition, data for healthcare is expected to grow at a compound annual growth rate of 36% by 2025. Thus, the increasing volume of digital data storage in healthcare organizations will support the growth of the market.
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Global Healthcare Data Storage Market Segments
The global healthcare data storage market is segmented:
By Type: Magnetic Storage, Flash Storage, Solid-State Storage
By Architecture: Block Storage, File Storage, Object Storage
By Deployment: On-Premise Solutions, Remote Solutions, Hybrid Solutions
By End-User: Pharmaceutical, Hospitals, Others
By Geography: The regions covered in the healthcare data storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Healthcare Data Storage Global Market Report 2022provides market size and growth forecasts for the global healthcare data storage market, global healthcare data storage market share, healthcare data storage market segments and geographies, healthcare data storage market competitive landscape including leading competitors’ revenues, profiles and market shares. The healthcare data storage market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Healthcare Data Storage Industry Playersinclude Dell, IBM Corporation, NetApp, Hewlett Packard Enterprise Development LP, Pure Storage Inc., Hitachi Ltd., Western Digital Corporation, Huawei Technologies Co. Ltd, Toshiba Corporation, Scality, Fujitsu, Drobo, Cloudian, Samsung, and Tintri. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
