Market Analysis
The
global healthcare
data storage market share is projected to touch a 15.30% CAGR between
2023-2032, as per the recent Market Research Future (MRFR) report. Healthcare
data storage, simply put, are software solutions that are utilized by
diagnostic centers, clinics, and hospitals for storing patient data that can be
used in the future.
Numerous
factors are adding to the global
healthcare data storage market growth. These
factors, according to the recent Market Research Future report, comprise
increasing use of EMR and EHR, increasing support from the government,
increasing collaborations between IT and healthcare companies, increasing
demand for software for safe clinical data storage, and demand for storage
solution.
On
the contrary, high training costs and high implementation cost of EHR and EMR,
rising cyber-attacks, healthcare fraud, and data security concerns are factors
that may deter the healthcare
data storage market overview growth over the forecast period.
Key Players
Global
healthcare data storage market players profiled in the report include
Carestream Corporation (US), Nuance Communications, Inc (US), Western Digital
(US), Hitachi (Japan), Pure Storage (US), Hewlett Packard Enterprise (HPE)(US),
NetApp (US), IBM Corporation (US), Dell Inc. (US), and DataCore Software (US).
Key players have incorporated several strategies to create a niche in the
market, such as strategic alliances, mergers and acquisitions, collaborations,
product developments, and others.
Market Segmentation
The
Market Research Future report provides an all-inclusive segmental analysis of
the global healthcare data storage market based on end user, storage system,
type, architecture, application, and solution.
By
solution, the healthcare data storage market outlook is segmented into hybrid
data storage, cloud, and on-premise. Of these, on-premise will lead the market
during the forecast period.
By
application, the healthcare data storage market insights is segmented into
operational analysis, financial analysis, and clinical analysis. Clinical
analysis is again segmented into precision health, population health
management, reporting and compliance, quality control, and clinical decision
support. Financial analysis is again segmented into risk adjustment and
assessment, claim processing, revenue cycle management, and others. Of these,
clinical analysis will dominate the market during the forecast period for the
increase in the number of diagnostic centers, clinics, and hospitals.
By
architecture, the healthcare data storage market trends is segmented into block
storage, object storage, and file storage. Of these, the object storage segment
will have the largest share in the market during the forecast period.
By
type, the healthcare data storage market is segmented into magnetic storage and
flash & solid-state storage. Magnetic storage is again segmented into
magnetic tapes and magnetic disks. Of these, flash and solid-state storage will
dominate the market during the forecast period.
By
storage system, the healthcare data storage market is segmented into
direct-attached storage, network-attached storage, and storage area network. Of
these, the storage area network will lead the market during the forecast
period.
By
end user, the healthcare data storage market is segmented into contract
manufacturing organizations, clinical/contract research organizations,
pharmaceuticals and biotechnology, hospitals and clinics, and others. Among
these hospitals and clinics will dominate the market during the forecast
period.
Regional Analysis
By
region, the global healthcare
data storage market report covers the latest trends and growth
opportunities across the Americas, the Asia Pacific (APAC), Europe, and the
Middle East and Africa (MEA). Of these, the Americas will command the largest
share in the market during the forecast period for the use of innovative
solutions by clinics and hospitals for maintaining patient data and the
availability of the most up to date healthcare information technology
solutions.
The
global healthcare data storage market in Europe will hold the second-largest
share during the forecast period owing to the presence of several healthcare
companies offering diagnostic and treatment products, thereby increasing the
demand for IT solutions for healthcare data storage. Besides, the presence of a
huge patient population suffering from arthritis, diabetes, and cancer is also
boosting the market growth.
The
global healthcare data storage market in the APAC region is predicted to grow
at the fastest pace over the forecast period for rapid technological
developments and the presence of several developing countries, especially
China, India, and Japan.
The
global healthcare data storage market in the MEA will have steady growth during
the forecast period for growing technological advances and developing
healthcare infrastructure.
Related reports-
Portable
Diagnostic Devices Market
Medical
Device Connectivity Market
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