Market
Analysis
The global healthcare
data storage market size 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 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 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 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.
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